business news in context, analysis with attitude


  • Ahold reported a 7.9 percent drop in third quarter sales to $14.6 billion (US), but noted that if divestments and currency effects were stripped out, sales actually were up 1.2 percent.

    The company’s US retail sales were down 1.3 percent to $6.1 billion (US), and US Foodservice third quarter sales were up almost three percent to $4.38 billion because of what the company said were higher prices. The company’s European net sales for the quarter were flat.


  • Coca-Cola Co. reported a 24 percent drop in third-quarter net income to $935 million, compared with a profit of $1.22 billion in the same period in 2003. Third-quarter revenue dipped to $5.66 billion from $5.67 billion.


  • 99 Cents Only Stores reported third quarter net income of $4.7 million, compared to $12.1 million for the third quarter of 2003.

    Third quarter retail sales for 99 Cents Only Stores were $229.1 million, up 14.2% from sales of $200.6 million for the third quarter of 2003. Sales increases in the food and beverage categories accounted for two-thirds of the retail sales dollar growth.


  • Amazon.com reported third quarter net income of $54 million, compared to profits of $16 million during the same period a year ago. Net sales for the quarter were $1.46 billion, up 29 percent from $1.13 billion for third quarter 2003.

KC's View:
Amazingly, Amazon’s stock price dropped yesterday because the profits fell short of analysts’ expectations. Which is something, considering many of these same analysts were saying just a few years ago that Amazon would never make money.

Oy.