Nautilus to take $6.2 million hit on facility closing
Nautilus (NYSE: NLS) said it expects to incur $6.2 million in charges related to the closure of its Tulsa, Okla., manufacturing facility.
It will close the Tulsa site by the end of 2008 and move the work to a manufacturing facility in Independence, Va. The company at the time also said its distribution work would be consolidated into two centers in Independence and Portland.
In a filing Friday with the Securities & Exchange Commission, the closure will result in charges of $3.1 million for asset write-downs, $1.7 million related to terminating a lease and other facilities costs, and $1.4 million related to employee terminations. Of the charges, $2.6 million are expected to be cash, the company said.
Puma sales up 6.3 percent for Q2
Puma (PUMG.DE) said it kept its sales growth goal, as revenues from big sports tournaments offset the impact of sluggish U.S. consumer spending in the second quarter.
Puma, 68 percent owned by French retailer and Gucci owner PPR (PTRP.PA), still expects currency-adjusted single-digit percentage sales growth for 2008 despite slower consumer spending.
Puma's second-quarter net profit rose 0.9 percent to EUR 45.6 million (USD $70.5 million) on sales of EUR 576.8 million (USD $891.8 million), up 6.3 percent.
The operating margin fell 40 basis points to 10.8 percent. The company said the almost flat development of the operating margin was a positive signal.
The situation in the United States, where Puma generates about a quarter of sales, continued to weigh, but Puma managed to improve U.S. sales and orders versus the previous quarter.
Year-on-year U.S. sales were down 0.9 percent in the second quarter and U.S. orders as of June 30 were down 14.8 percent.
(Conversion of Euros into U.S. dollars is for information only, is not necessarily relative to earnings, and is based on the currency rate as of Aug. 7.)
Costco July same-store sales rise 10 percent
Costco's (Nasdaq: COST) same-store sales rose 10 percent in July including gasoline. Excluding the impact of gasoline price inflation, Costco said same-store sales would have risen 6 percent in the United States.
Total sales for the four weeks ended Aug. 3 rose 14 percent to $5.7 billion from $5.02 billion a year earlier.
Wal-Mart same-store sales rise 3 percent in July
Wal-Mart Stores (NYSE: WMT) says its July same-store sales rose 3 percent. Sales in stores open at least one year rose 3 percent at Wal-Mart and 3.5 percent at Sam's Club. Including fuel, same-store sales rose 1.9 percent, including a 1.3 percent rise at Wal-Mart and a 5.1 percent increase at Sam's Club.
Total sales rose for the four weeks ended Aug. 1 rose 9 percent to $30.16 billion, boosted by a 17-percent rise in international sales.
The company expects August same-store sales will rise 1 percent to 2 percent excluding fuel.
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