AMR ( AMR), the parent of American Airlines, expects to incur a sizable first-quarter loss, and the carrier believes a full-year loss is likely because of the lingering effects of the Sept. 11 terrorist attacks. The company provided the outlook in a filing with the Securities and Exchange Commission. According to First Call, analysts, on average, expect a loss of $3.03 in the first quarter and a loss of $4 for the year.
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Claire's Stores ( CLE) reported fourth-quarter income from continuing operations of 61 cents a share, 3 cents ahead of estimates. The company earned 62 cents a year ago. Sales for the fourth quarter fell 5% to $280.4 million from $295.7 million. Same-store sales dropped 2%. The company remains comfortable with earnings expectations of 12 cents for the first quarter and $1.04 for fiscal 2003. Limited ( LTD) said sales totaled $3.14 billion for the latest fourth quarter. In the year-ago period, which had an additional week, sales came to $3.26 billion. The company earned 75 cents a share, beating estimates by 2 cents. The company's 84%-owned unit, Intimate Brands ( IBI), earned 61 cents in the fourth quarter, also beating estimates by 2 cents, on sales of $1.94 billion. Men's Wearhouse ( MW) said sales for the fourth quarter fell 13.7% to $385.7 million from $446.9 million for the same period a year ago. The company earned 39 cents a share, down from 90 cents in the prior year's fourth quarter. Analysts were looking for a profit of 36 cents. For the next fiscal year, the company projected earnings of about $1.30, ahead of the current Wall Street expectations of $1.24. Neiman Marcus earned 51 cents a share in the fiscal second quarter, a penny above the consensus expectation, but down from 84 cents in the year-ago quarter. Sales slipped to $908 million from $924 million. Tiffany ( TIF) earned 55 cents a share in the fourth quarter, down from 56 cents in the year-ago period. Excluding a charge, the company earned 58 cents, beating estimates by 2 cents. Sales declined 2% to $565.8 million. Tiffany forecast slight earnings shortfalls for the first half of the year, and the jewelry retailer provided a full-year earnings estimate of $1.20 to $1.27 a share. On average, analysts expect full-year earnings of $1.25. Tricon Global Restaurants ( YUM) said February same-store sales at company-owned U.S. restaurants increased 6%. U.S. same-store sales increased 9% at Taco Bell, 6% at Pizza Hut and 2% at KFC. Wendy's ( WEN) said preliminary sales results for February show that same-store sales increased 3.75% to 4.25% at Wendy's U.S. company restaurants. Comparable sales were up 7.5% to 8% at Tim Horton's restaurants in Canada. Same-store sales climbed 10% to 10.5% at Tim Horton's in the U.S. The company provided ranges because the fiscal month of February doesn't end until March 3.
Schlumberger ( SLB) named Andrew Gould president and chief operating officer, effective March 1. Gould is currently executive vice president of Schlumberger Oilfield Services. The company also named Jean-Marc Perraud, currently controller and chief accounting officer, executive vice president and chief financial officer. He replaces Jack Liu, who will become senior adviser in charge of the company's ongoing program of divestitures.