Retailers, consumers and prices
Check Out Line: Several companies ring up strong profits
Alberto Culver, the maker of VO5 shampoo and Mrs. Dash seasoning, said its third-quarter profit, excluding one-time items was 30 cents a share, a penny above what analysts had expected, thanks to strong demand for its TRESemme shampoo.
Cigarette maker Lorillard earned $1.71 a share in its second quarter, easily topping the $1.43 Wall Street was expecting, as it boosted prices and its market-share. It also OK’ed a new $750 million stock-buyback plan.
Electronics retailer RadioShack’s second-quarter profit was 39 cents a share — 10 cents above forecasts — on lower costs and improved sales of netbooks, prepaid wireless handsets and digital TVs.
Nielsen said global consumer confidence remains subdued but has risen slightly since March, notably in Asia and Brazil, on the belief an economic recovery may be in sight, according to a survey by the firm. However, U.S. consumer sentiment was unchanged with those consumers ranking only 17th most confident among 28 markets surveyed.
Also in the basket:
Wave of Store Closures Expected (WWD, subscription required)