Anheuser-Busch InBev NV
The world’s largest brewer said Thursday that the soccer World Cup helped push up sales in the second quarter, boosting net profit by 7.5 percent to $1.15 billion.
The producer of Budweiser, Stella Artois and Beck’s said results this year beat its expectations and those of market analysts and will continue to grow through 2010. Revenue rose 4.1 percent to $9.2 billion in the second quarter.
The Belgium-based company said it sold 2 percent more beer, while soft drinks rose 5.5 percent.
Red Robin Gourmet Burgers Inc.
The Greenwood Village- based restaurant chain announced that Stephen Carley will become chief executive next month as the restaurant chain reported weaker-than- expected second-quarter results, including a 33 percent drop in earnings.
The company also cut its outlook for the year again, projecting earnings of 90 cents to $1.10 a share on revenue of $866 million to $873 million. May’s reduced forecast was $1.10 to $1.30 and $872 million to $880 million, respectively.
The company reported a profit of $4.3 million, or 28 cents a share, compared with $6.4 million, or 41 cents a share, a year earlier. Revenue edged up $255,000 to $201.3 million.
Carley has been president and CEO of El Pollo Loco since 2001 and was previously an executive at Taco Bell. He succeeds Dennis Mullen, who will also give up his director spot when shedding day-to-day oversight of the company.
Kohl’s Corp.
The moderate-price department-store chain said second-quarter net income rose nearly 14 percent as it continued to draw more shoppers from rivals for its exclusive fashions, but job worries are making customers spend less per visit.
Kohl’s said its net income rose to $260 million, or 84 cents per share. That compares with $229 million, or 75 cents per share, last year. Revenue rose 8 percent to $4.1 billion. Analysts expected 82 cents per share.
Nordstrom Inc.
The upscale department-store chain’s second-quarter profit jumped nearly 39 percent as shoppers flocked to its sales.
Nordstrom reported Thursday that it earned $146 million, or 66 cents per share, for the quarter. That’s up from $105 million, or 48 cents per share, in the same quarter last year. Revenue rose nearly 13 percent to $2.5 billion. Analysts polled by Thomson Reuters expected the company to earn 66 cents per share.
Sara Lee Corp.
The food maker returned to fourth-quarter profitability, but investors were wary of its future as it faces rising commodity prices and said it expects fiscal 2011 profit at the low end of analyst expectations.
Sara Lee leaders remained confident, saying the company remains on the trajectory put in place by former CEO Brenda Barnes, who stepped down this week to focus on her health after a stroke.
Sara Lee earned $187 million, or 28 cents per share, for the quarter that ended July 3. That’s up from a loss of $14 million, or 2 cents per share, a year earlier, when a large tax charge cut its profit. Revenue rose 4.2 percent to $2.8 billion.
Estee Lauder
Better sales of higher-priced skin-care products such as a Clinique skin- tone corrector helped the cosmetics maker return a fourth- quarter profit, the company said Thursday.
Net income for the quarter that ended June 30 totaled $23.9 million, or 12 cents per share, compared with a loss of $17.9 million, or 9 cents per share, a year earlier.
