Zumiez Inc. said its second-quarter profit fell from $3.1 million last year to $2.7 million, or 9 cents a share, in the latest period. But the Everett-based retailer of action sports gear and clothing said its overall sales rose by more than 12 percent to exceed $92 million in the quarter ended Aug. 2. All the growth came from the chain’s new stores, as same-store sales fell by nearly 2 percent.
Boeing Machinists to hold rally Sunday
Members of the Boeing Co.’s Machinists union will hold a rally on Sunday. The labor group, which represents 24,000 Machinists in the Puget Sound region, is in the middle of contract negotiations with Boeing. The Machinists’ existing three-year contract expires Sept. 4. Machinists will meet at 12:30 p.m., Sunday, at the DoubleTree Hotel, 18740 International Blvd., in SeaTac. Labor leaders will provide an update on contract talks. Union members will march from the hotel to Angle Lake Park. For more information, go to the local Machinists’ Web site at www.iam751.org.
Clothing retailer expects profit
Clothing retailer Aeropostale Inc. said Thursday that it expects to earn between 59 cents and 61 cents per share during the third quarter — a roughly 24 percent increase from the same period last year — and in line with Wall Street estimates. Analysts surveyed by Thomson Reuters expect the New York-based retailer to earn 60 cents per share on revenue of $471.5 million.
Burger King profit rises, stock falls
Customers bought more Whoppers, Cheesy Bacon BK Wrappers and crispy chicken sandwiches in the fourth quarter, driving Burger King’s profit up 42 percent. But investors weren’t too impressed sending the company’s stock down 7 percent as they focused instead on higher food costs and expenses. Burger King Holdings Inc. said it earned $51 million, or 37 cents per share, in the April to June quarter, up from $36 million, or 26 cents per share, a year earlier.
Economic stats drop sharply
A private sector measure of the economy’s health showed the largest drop in a year, and while new jobless claims fell for the second straight week, they remain near the highest levels since 2002. The reports are the latest evidence the languishing American economy remains stuck in low gear. The New York-based Conference Board said Thursday its monthly forecast of future economic activity fell 0.7 percent in July, far more than the consensus estimate of a 0.2 percent decline by Wall Street economists surveyed by Thomson/IFR.
Airline costs up 7.5 percent
The average cost to fly 1 mile in the U.S. on a commercial airliner rose 7.5 percent in July compared to the same month last year. The Air Transport Association of America, which represents most passenger and cargo carriers in the U.S., said late Wednesday that passenger yield — the average price a passenger pays to fly 1 mile, excluding government taxes and fees — was 15.7 cents last month.
From Herald staff and news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
