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Wal-Mart posts strong February sales Sunday, Mar 9, 2008 By Roby Brock The world's largest retailer reported February sales that showed strong year-over-year growth and solid same-store sales numbers. For the full month, Wal-Mart's total sales topped $29.18 billion, up 8.9 percent from the previous year's February. While domestic sales accounted for about 63 percent of Wal-Mart's numbers, international expansion drove the increase. International sales rose 19.8 percent compared to one year ago. Same-store sales, a key indicator of retail health, rose 3 percent for the month at the company's U.S. stores. Dillard's sales fall 2 percent Dillard's Department Stores announced its February sales for the four weeks ended March 1, 2008. The mall retailer posted total sales of $581.6 million compared to sales of $593.2 million one year ago. The 2 percent decline was also matched in Dillard's same-store sales. Dillard's said that sales of shoes significantly exceeded the company's average sales performance for the period. Sales in cosmetics and home furnishings were significantly below trend. Nestle to spend $60 million, add 200 jobs in Jonesboro Nestle Foods, which opened its $165 million manufacturing complex in Jonesboro in 2003, will spend an additional $60 million to expand the plant and add 200 new jobs. The 50,000 square-foot expansion will result in a new bakery and food processing line being added that will make pizza for the company's Stouffer's and Lean Cuisine brands. Total employment at the Jonesboro Nestle plant currently stands at 600 workers. Tyson foods to close North Carolina plant, lay off 410 One day after Tyson Foods announced it would expand its Springdale plant adding 370 new jobs, company officials confirmed they will close a facility in North Carolina on April 1. About 410 workers will lose their jobs at Tyson Foods' Wilkesboro, N.C., processing plant. The plant makes an oven-roasted chicken product that Tyson officials contend has been performing poorly from a sales perspective. Tyson is the largest employer in the region with other facilities and nearly 3,000 workers. Car-Mart posts profit America's Car-Mart continued to turn its business around, posting a strong third-quarter profit due to improving sales and collections. The Bentonville-based used car retail chain recorded third quarter net income of $3.4 million compared to a $50,000 loss in the previous year's third quarter. Revenues rose 19.9 percent to $71.1 million. Same-store sales were also strong with growth of 18.7 percent. Car-Mart also reported that its finance receivables grew by $7.9 million, or 4.2 percent, to $198 million as the result of higher vehicle sales volumes and prices. Company officials say they expect the Economic Stimulus Act of 2008 to boost Car-Mart's business in the coming quarter. Beebe says tax talks at impasse over incentives Gov. Mike Beebe says he does not expect an agreement for raising the severance tax on natural gas to materialize in time for a March special session. In making his comments, Beebe indicated that he and the natural gas companies could not resolve the issue of potential incentives that would allow exemptions to paying the tax. Surrounding states allow exemptions for "horizontal drilling," which is the method used by companies conducting gas exploration in the Fayetteville Shale region. For instance, Texas offers a 10-year exemption on this type of drilling activity before the severance tax is paid to the state. Oklahoma offers a four-year exemption on the tax for horizontal drilling. With negotiations off, the governor says he will now explore the possibility of leading a citizen's initiative to raise the tax. Lyon College to give laptops to all Lyon College in Batesville has launched a new initiative that will provide all new students with laptop computers, beginning with the 2008-09 school year. Lyon will maintain the computers, which will be loaded with classroom-relevant software and e-mail and wireless capabilities, and make replacements available to students as needed. Located in Batesville, Lyon College has a student enrollment of around 500. Last spring, Lyon College became one of the first colleges in the state to offer wireless connectivity throughout its campus. Sale closes on Russelville, Hot Springs hospitals Community Health Systems, which owns hospitals in Russellville and Hot Springs, has closed its deal to sell those two facilities and seven others to Capella Healthcare, a privately held, for-profit hospital company headquartered in Franklin, Tennessee. The $315 million sale was first announced in late November 2007. Saint Mary's Regional Medical Center in Russellville and National Park Medical Center in Hot Springs are among the nine hospitals involved in the transaction. ------- Roby Brock, a freelance journalist based in Little Rock, writes weekly for the Arkansas News Bureau. His weekly television program airs at 10 p.m. Sundays in Central and Northwest Arkansas. His e-mail address is roby@talkbusiness.net; his Web site address is www.talkbusiness.net. |
