led the chain-store sales parade Thursday, posting October same-store sales that increased 6.7% from the same month a year ago. Total sales for the month rose 14.6% to $16.62 billion from $14.50 billion last year.
Earnings Reports & Warnings
( SHU) will delay its third-quarter results after the company's independent auditors said the accounting treatment of four development joint ventures may need to be changed. The proposed accounting change would require the restatement of the company's financial results for 1998, 1999, 2000 and the first six months of 2001.
Sunrise Assisted Living
( SRZ) posted third-quarter earnings of 44 cents a share, 2 cents better than the consensus estimate. Revenue increased 19.8% to $108.4 million. The company expects fourth-quarter earnings to be in line with estimates.
reported a third-quarter loss before interest, taxes, depreciation and amortization of $53.5 million. Revenue rose 48% to $331.5 million. The company said it is fully funded into the second half of 2002, but said it has hired an investment bank to discuss strategic alternatives to attract potential investors.
Abercrombie & Fitch
said October same-store sales fell 20%. Total sales dropped to $86.4 million from $95 million, but the company still expects to post third-quarter earnings of 43 cents a share.
reported an 11.8% decline in October comparable-store sales. The company now expects third-quarter earnings of 40 cents a share, down from the prior guidance of 42 cents to 46 cents and below the current consensus estimate. AnnTaylor also lowered its guidance for the fourth quarter.
reported a 6% increase in October same-store sales. Total sales rose 13% to $2.83 billion.
( GADZ) posted a 9.7% decline in October comparable-store sales. The company said "our October results were disappointing and well below our internal plans," but indicated that it was able to effectively manage inventory levels during the period.
Federated Department Stores
( FD) reported an 8.7% decrease in October same-store sales. Total sales fell 8.9% to $1.12, and the company is still expecting a same-store sales decline of 7% to 10% for the fourth quarter.
said October same-store sales fell 12.5%, but the company remains comfortable with its guidance for the third and fourth quarters.
( CMVT) signed a deal to provide multimedia messaging, voice and mobile Internet services to certain
wireless devices. Financial terms of the agreement weren't disclosed.