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* May Department Stores Co. said third-quarter earnings rose 8.3% to $130 million, or 52 cents a share, matching estimates, as it held down costs and boosted sales at its various chains. Revenue rose 4% to $3.09 billion. Sales at stores open at least a year rose 2.2%. May has been keeping inventories lean to control storage and distribution costs and avoid widespread markdowns.
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* OfficeMax Inc. said its third-quarter earnings rose 6.8% to $33.6 million, or 27 cents a share, in line with forecasts, as it expanded its assortment of office products and reduced low-profit computer promotions. Revenue jumped 16% to $1.15 billion, while sales at store open at least a year rose 2%.
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* Mirage Resorts Inc. said third-quarter net income fell 45% to $30.1 million, or 16 cents a share, lower than the 20 cents analysts expected, on lower baccarat revenue and higher-than-normal corporate expenses. Revenue fell 7.1% to $272.2 million. Mirage also said its new Bellagio casino, the most expensive ever, is reporting stronger initial operating results in its first 20 days than the Mirage hotel-casino had when it opened.
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* Procter & Gamble Co., the world’s biggest advertiser, said next year it will start testing a system under which it will pay its advertising agencies according to brand sales performance. The company, one of a decreasing number of businesses that still pay agencies a 15% commission, spends $4 billion a year worldwide advertising its household products.
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