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Tag Archives: business news

Wholesale stockpiles fell 0.3 pct. in February

WASHINGTON — U.S. wholesalers cut their restocking in February by the most in 17 months. But their sales jumped, suggesting companies underestimated consumer demand. The Commerce Department said Tuesday that stockpiles at the wholesale level declined 0.3 percent in February. ...

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Pebblebrook joint venture executes loan

Pebblebrook Hotel Trust, of Bethesda, a lodging real estate investment trust, announced that its joint venture with New York-based Denihan Hospitality Group, which owns six upscale boutique hotels in Manhattan, executed a new, $50 million non-recourse, secured loan with PNC Bank N.A., at a fixed annual interest rate of 3.14 percent.

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McCormick announces $400M stock repurchase

SPARKS — McCormick & Co. said Thursday it approved the repurchase of $400 million in company stock. McCormick makes an array of spices and other cooking products for consumers, restaurants and food manufacturers. The company reported results for its fiscal ...

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Jos. Bank earns less but tops Wall St.

Jos. A. Bank Clothiers Inc., of Hampstead, reported net income for its fiscal fourth quarter ended Feb. 2 of $28.4 million, or $1.01 per diluted share, on revenue of $354.8 million, versus net income of $44.1 million, or $1.58 per share, on revenue of $346.3 million in the prior-year period.

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Service firms grow more slowly, hiring weakens

WASHINGTON — Two reports Wednesday showed that U.S. service companies grew more slowly in March and private employers pulled back on hiring. The declines suggest businesses may have grown more cautious last month after federal spending cuts took effect. The ...

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SEC gives companies OK to use social media

WASHINGTON — The Securities and Exchange Commission will allow public companies to make significant announcements on Facebook, Twitter and other social media sites provided they alert investors which sites they intend to use. The decision announced Tuesday allows companies to ...

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