Earnings Roundup: Target, Deere

Among the earnings stories for Wednesday, May 20, from AP Financial News:

Top stories:

NEW YORK (AP) — Discount retailer Target Corp. reported a 13 percent decline in first-quarter profit on Wednesday as it confronts sluggish consumer spending. But the results beat analysts' estimates because of cost-control measures.

PITTSBURGH (AP) — Deere & Co. reported 38 percent drop in quarterly profit on Wednesday but beat Wall Street expectations, even as tight credit and lower crop prices undercut overseas demand for its tractors and combines.

NATICK, Mass. (AP) — BJ's Wholesale Club Inc. said Wednesday that its first-quarter profit rose 42 percent, narrowly beating Wall Street expectations, and raised its 2009 profit guidance.

Other stories:

AMHERST, N.Y. (AP) — Columbus McKinnon Corp., a producer of cranes and hoists, said Wednesday it lost $102.5 million in its fiscal fourth quarter as sales fell 16 percent and it absorbed a hefty impairment charge.

NEW ALBANY, Ohio (AP) — Tween Brands Inc., a clothing retailer for girls age 7 to 14, said Wednesday it lost $1.4 million in the first quarter as sales dropped amid the recession.

NEW YORK (AP) — Women's apparel retailer Ann Taylor Stores Corp. said Wednesday it lost $2.3 million in its fiscal first quarter as sales fell on a consumer spending pullback. The loss was smaller than Wall Street had expected, however.

MILWAUKEE (AP) — Brady Corp. said Wednesday its profit dropped 48 percent in the fiscal third quarter as sales fell in all of its markets.