Earnings Reports for Aug. 17

For the six months ended July 29, Barnes & Noble lost $12.7 million, or 20 cents per share, versus earnings of $17.6 million, or 25 cents per share, in the year-ago period. Sales rose to $1.82 billion from $1.44 billion.

BACK TO TOP Staples’ European business saw sales at stores open at least one year grow 18 percent. In addition, the company opened six new stores during the quarter, bringing the total number in Europe to 149. It plans on opening about 20 European stores this year.

In the United States, Staples said it has 943 stores and has oversight for the 162 Staples stores in Canada.

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J.C. Penney Profits Fall 90 Percent

Department store giant J.C. Penney said today its operating profits fell 90 percent in the second quarter and warned that results for the balance of the year would be hurt if slow sales at its department stores continued.

Penney, the No. 5 U.S. retailer, said income excluding unusual items fell to $11 million, or 1 cent per diluted share, from $112 million, or 40 cents a share, in the year-ago quarter.

Analysts had expected Penney to break even for the quarter, according to First Call/Thomson Financial.

Quarterly revenues rose to $7.43 billion from $7.31 billion a year ago.

Penney, which operates about 1,100 department stores and 2,600 Eckerd drugstores, also said the initial public offering of an Eckerd tracking stock would not occur this year as previously announced.

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Target Nails Estimates

Target, the No. 4 U.S. retailer, reported today a 13 percent increase in second quarter operating income, meeting Wall Street expectations, as results were helped by sales at its upscale discount Target stores.

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