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Friday, August 30, 2013
July Personal Income Edges Up
According to the United States Commerce Department's Bureau of Economic Analysis (BEA), personal income increased 0.1% in July. Disposable personal income increased 0.2% for the same month, the bureau noted.
July personal consumption expenditures increased 0.1%, BEA stated. In June, personal income increased 0.3%, disposable increased 0.2%, and personal consumption expenditures increased 0.6%, the bureau noted, based on revised estimates.
Big Lots Earnings Slip But Exceed Wall Street EstimateToday, Big Lots, Inc. posted consolidated income from continuing operations of $18.1 million, or 31 cents per diluted share, for the second quarter of fiscal 2013 ended August 3 versus $22.1 million, or 36 cents per diluted share, in the year-earlier period. The result, according to the company, includes a non-recurring after tax benefit of $400,000, or one cent per diluted share, associated with the settlement of a store-related legal contingency. Excluding the one-time event, adjusted consolidated income from continuing operations totaled $17.7 million, or 31 cents per diluted share, the company stated.
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GLM: Buyers, Exhibitors Voice Positive Reaction To NY Now ReorganizationGLM, management for NY Now, the Market for Home & Lifestyle, reported positive accolades from both buyers and exhibitors. NY Now's premiere edition, the culmination of a multi-year reorganization and re-branding, featured four new collections, a new exhibit floor layout and new graphics, showcased 2800 exhibitors, and attracted more than 32,000 attendees from all 50 states and 74 countries worldwide.
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KitchenAid Rolls Out Countertop Convection OvenKitchenAid has introduced a new countertop oven featuring 1800 watts of power, convection technology, nine cooking functions and a digital display. Similar to the brand's wall ovens and ranges, the new countertop ovens feature Even-Heat Technology for consistent heat throughout the baking cycle, according to the company.
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Fred's Continuing Operations Deliver AdvancesToday, Fred's, Inc. today posted financial results for the second quarter ended August 3, including net income of $3.3 million, or nine cents per diluted share, versus net income of $6.1 million, or 17 cents per diluted share, in the year-prior period. The year-earlier quarter included a benefit of approximately $4 million, or 11 cents per diluted share, due to the inclusion of favorable tax credits related to a state income tax settlement as well as adjustments for other tax-related assumptions and estimates, according to the company.
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