Company Earnings Announcement
Gap Inc. reported a 7 percent increase in net sales for the first quarter of fiscal year 2013.
Glenn Murphy, chairman and chief executive officer of Gap Inc., said the sales performance was led by its largest brands Gap and Old Navy.
Net sales for the first quarter, which ended 4 May 2013 were USD3.73 billion compared with USD3.49 billion for the first quarter last year.
Breadtalk Group on Wednesday said its net profit for the fiscal first quarter ended on 31 March rose 14.9 percent year on year to SGD1.62 million (USD1.32m) from SGD 1.41 million.
Turnover was up 13.4 per cent to SGD 120.28 million, from SGD 106.10 million a year earlier.
Earnings per share were 0.58 cent, up from previous year's 0.50 cents.
The counter finished trading unchanged at 99.5 cents.
For related articles, visit The Business Times.
Alibaba Group Holding Ltd, China's largest e-commerce company, saw profit that doubled in the three months ended in December after commissions may have increased.
Net income at Hangzhou-based Alibaba jumped to USD642 million in the quarter through December from USD237 million a year earlier, according to a Yahoo! Inc filing to the Securities and Exchange Commission. Revenue rose 80 percent to USD1.8 billion, the California-based Yahoo, which owns about 24 percent stake in Alibaba, reported.
Italian eyewear maker Luxottica Group SpA (LUX) said Monday its net profit rose 23.5 percent on the year in the first quarter of 2013, boosted by rising sales across all regions, particularly Brazil and other emerging countries.
The company said in a statement that it will continue to invest in emerging markets and will expand its "retail division via acquisitions and better penetrations of existing channels especially in southeast Asia and Latin America."
Suning Commerce Group, China's biggest appliance retailer, said on Saturday its net profit dropped by 48.2 percent to CNY492.8 million (USD80m), or USD79m, in the first three month of 2013 from a year earlier as it moved to integrate its traditional business and e-commerce businesses and expand its offerings.
Suning's sales in the first three months of the year totalled CNY27.2 billion, an increase of 20 percent from last year. It predicted net profit in the first six months of the year would fall as much as 60 percent from a year earlier.
Starbucks said on Thursday that its profit rose in its fiscal second quarter as a key sales figure climbed in the US, its biggest market. New drinks and food, such as its sandwiches and pre-packaged lunch boxes, helped lift sales.
The world's biggest coffee chain said global sales at established cafes rose 6 percent during the period. That included an 8 percent increase in Asia, where the company has been focusing its expansion efforts.
Singapore's supermarket operator Sheng Siong Group reported a core net profit of SGD10.5 million (USD8.5m) for its first quarter of 2013, up 31.3 percent from the corresponding period last year, when the figure was SGD8.0m.
The company reported a revenue of SGD179.4m for the three months ended on 31 March this year, up 12.3 percent year on year from SGD159.8m.
Amazon.com Inc reported solid first-quarter profits as the world's largest internet retailer controlled shipping expenses and other costs, but international revenue growth slowed.
Amazon, which has been on a spending spree in recent years, posted declines in net income and operating profit, year over year. However, the company's gross profit margin, a closely watched measure of its profitability, came in at 26.6 percent, the highest in at least a decade, according to Scott Tilghman, an analyst at B Riley & Co.
US footwear maker Crocs Inc. on Wednesday said net profit rose 2 percent in the first quarter of 2013 from USD28.3 million to USD29m, driven by Asia-Pacific sales.
Revenue for the three months ended on 31 March rose 14.7 percent to USD311.7m compared with USD271.8m in the same period last year. Excluding currency swings, revenue surged 16.6 percent.
Sales in Asia-Pacific excluding Japan jumped 33.7 percent to USD90.5m in the first quarter of 2013. At constant currencies, Asia-Pacific's sales climbed 32.8 percent.
CapitaMalls Asia Limited, a Singapore-based shopping centre developer and operator, on Thursday posted net profit of SGD73.2 million (SGD59.1m) for the first quarter ended on 31 March 2013, up 9.6 percent from SGD66.8m a year ago.