Home improvement retailers are reaping the rewards of a healthier housing market and so is Williams-Sonoma. The company reported strong third quarter results and raised its fourth quarter outlook as a result.
Kellogg’s North American first quarter results were solid, but its performance overseas, particularly in the U.K., helped bolster its results. The company reported net sales of $4 billion, an increase of 12%.
PepsiCo reported a net revenue increase of 1% to $12,581 billion from $12,428 billion for the period ended March 23. Its net income declined by slightly more than 1 billion to $1,085 billion from $1,133 billion.
Hhgregg's first quarter loss widened to $5.7 million, or 16 cents per diluted share, from a loss of $0.8 million, or 2 cents per diluted share, for the comparable prior year period, thanks to same-store sales decline of 5.1% and increased expenses.
Nike reported that fourth quarter revenues rose 12%t, or 14% on a currency neutral basis, to $6.5 billion, the largest revenue quarter in the company's history. This was a result of higher revenues across every Nke brand geography, key category and product type.
Cabela's revenue for the first quarter increased 6.3% to $623.5 million and included a retail store revenue increase of 14.4% to $345.3 million and a direct revenue decrease of 8.3% to $190.2 million. For the quarter, comparable-store sales increased 4.2%.
Profits at Staples grew 13% to $326 million and earnings per share grew 18% to 47 cents as the nation’s leading office products company overcame weak revenue growth that saw sales advance half a percent to $6.6 billion.
In what can only be a sign that the economic health of the country is improving -- at least for for higher-income consumers, Williams-Sonoma announced that net revenues for the fourth quarter of 2010 increased 9.7% to $1.195 billion versus $1.09 billion in the fourth quarter of 2010, including Internet net revenue growth of 27.2% and a comparable-store sales increase of 5.2%.