Target’s profit surges as consumers show growing eagerness to spend
Target's sales and profits surged in the first quarter as Americans turned out eager to spend.
I’ve never been to Spain (or Cleveland) but I really like their co-ops
We need to create jobs that pay people a living wage. That is a baseline premise that should not be controversial. A “living wage” would provide a stable platform from which to push for wealth-building throughout Baltimore — an issue of particular significance in communities of color. So, how would one go about building wealth in the communities outside of […]
Host Hotels’ profit, RevPAR increase
Host Hotels & Resorts Inc., of Bethesda, a lodging real estate investment trust, reported a $159 million profit, or 21 cents per diluted share, for the quarter ended June 30, up from $121 million and 16 cents for the prior-year period. Funds from operations were $334 million, down from $342 million in the 2013 quarter. Revenue […]
Marriott profits up by 7 percent
Bethesda-based Marriott International Inc. earned net income of $192 million, or 64 cents per diluted share, during the second quarter of this year, the hotel company announced Tuesday. That’s a 7.3 percent increase over the second quarter of last year, which exceeded analysts’ expectations — and those of President and CEO Arne Sorenson. “With strong […]
Tessco net income down in last quarter
Tessco Technologies Inc., of Hunt Valley, a supplier of wireless communications equipment, reported a drop in net income and a rise in revenue for the quarter ended June 29. Net income was $3.7 million, or 44 cents per diluted share, compared with $4.3 million and 51 cents for the prior-year quarter. Revenue totaled $152.9 million […]
Northrop Grumman hikes forecast
(Bloomberg) Northrop Grumman Corp., the maker of Global Hawk drones, topped analysts’ profit estimates in the second quarter and boosted its full-year forecast. Net income rose 4.7 percent to $511 million, or $2.37 a share, in the quarter, from $488 million, or $2.05, a year earlier, the company said Wednesday. The average estimate of 20 […]
Target 1Q profit falls 16 percent as data breach takes toll
Target cut its annual profit outlook Wednesday and said its first-quarter earnings fell 16 percent as it took another hit from a massive customer data breach and a troubled expansion in Canada.
Soup’s getting cold: Campbell’s profit off 30% in quarter
NEW YORK — Americans’ shift toward fresh foods is kicking Campbell Soup right in the can. The company on Tuesday said its quarterly profit fell 30 percent as U.S. sales of soups and V8 beverage declined. A recall of its recently acquired Plum Organics products also hurt results, and the company cut its outlook for […]
Delegate: Let’s empower A.G. to probe nonprofits
A Maryland lawmaker wants to give the Office of the Maryland Attorney General more authority to investigate charities and how they spend donations.
Banks earn record $42.2B in 2nd quarter
WASHINGTON — U.S. banks earned more from April through June than during any quarter on record, aided by a steep drop in losses from bad loans. The Federal Deposit Insurance Corp. says the banking industry earned $42.2 billion in the second quarter, up 23 percent from the second quarter of 2012. About 54 percent of […]
Walker & Dunlop’s profit soars
Walker & Dunlop Inc., of Bethesda, a real estate lender focused on multifamily loans, said its second-quarter net income rose 52.5 percent to $14.5 million, or 42 cents per diluted share, from $9.3 million, or 42 cents per diluted share, in the 2012 quarter. The number of outstanding shares rose by 12.5 million year-to-year, diluting […]
Sinclair’s 2Q revenue up, profit drops
Sinclair Broadcast Group Inc., of Hunt Valley, saw its second-quarter earnings plummet 40 percent but still beat Wall Street’s forecast.