Cendant reports 46% drop in profit, hurt by charges

Article Abstract:

Cendant Corp.'s core businesses did well in Q3 but charges related to CUC Internatonal Inc. and its former chairman hurt net income, posted as a drop of 46%. Cendant franchisees Century 21 and Coldwell Banker revenues were up 28%. It was the $47.5 million in cash and stock options just to get rid of CUC's chief, Walter Forbes, plus charges for fraud and to write off a bad investment of CUC that made the quarter look bad.

Patent Owners & Lessors, Lessors of Nonfinancial Intangible Assets (except Copyrighted Works), Patent owners and lessors, Finance, Abstract, Investment companies, Patent licenses, Patent licensing, Franchises, CD, Avis Budget Group Inc.

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Penney profit falls 70%, but Ann Taylor, limited, Dayton Hudson post strong net

Article Abstract:

JC Penney Co. announced a 70% fall in its net income for fiscal second-quarter of 1998. The retail chain was hurt by a charge of $70 million during the quarter. Limited Inc. posted a $1.68 billion rise in its 1998 second-quarter net income. AnnTaylor Stores Corp. posted quarterly earnings that were over eight times higher than its quarterly earnings in 1997. Dayton Hudson said it posted "above-plan" quarterly profits.

Comment:

Posted 1998 second-quarter earnings that were over eight times higher than its quarterly earnings in 1997

Company Planning/Goals, Department Stores, Women's Clothing Stores, Women's Ready-to-Wear Stores, J.C. Penney Corporation Inc., AnnTaylor Stores Corp., Limited Brands Inc., Article

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