Earnings roundup: Brown Shoe, Coldwater Creek

AP News
Posted: Nov 24, 2009 5:49 PM

Among the earnings stories for Tuesday, Nov. 24, from AP Financial News:

ST. LOUIS (AP) _ Brown Shoe Co. reported a higher third-quarter profit, citing cost controls and rising sales at its Famous Footwear locations open more than one year.

SANDPOINT, Idaho (AP) _ Women's apparel retailer Coldwater Creek Inc. said its loss widened in the third quarter, largely because of a hefty tax charge and higher promotional costs.

NEW YORK (AP) _ Medtronic Inc. reported a surprising 59 percent boost in second-quarter profit as increased sales of implantable heart devices defied reports of weakening demand from competitors.

MILWAUKEE (AP) _ Hormel Foods Inc. plans to boost its advertising next year to persuade cash-strapped shoppers to pay extra for its pricier items, like microwave meals, even as they keep looking for ways to cut costs in the downturn.

NEW YORK (AP) _ J. Crew Group Inc. said its profit more than doubled in the third quarter as sales rose by a double-digit percentage.

PORTLAND, Ore. (AP) _ H.J. Heinz Co. says its business is thriving in emerging markets but the recession continued to drag down its U.S. and European sales during the second quarter as shoppers limited spending or chose lower-priced products.

Social Security Fails
John Stossel

NEW YORK (AP) _ Barnes & Noble Inc. and Borders Group Inc., the nation's two largest brick-and-mortar book sellers, both posted quarterly losses and forecast a difficult holiday season, saying competition from discount chains and online retailers is stiffening.

NEW YORK (AP) _ Offshore drilling contractor Atwood Oceanics Inc. reported its fiscal fourth-quarter earnings fell 35 percent drop as its revenue tumbled and companies in its industry faced weak energy markets.