Word: pretax
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Dates: during 2000-2009
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Accounting for 10% of Unilever's global sales, ice cream plays a part in the company's strategy to improve on its performance in 2004, a rough year in which European ice cream sales fell nearly 10% and Unilever's overall pretax profits fell 36%. Unilever has since streamlined its corporate structure, jettisoning its dual-chairman arrangement for a single chairman and chief executive. Since Patrick Cescau took charge in February, he has focused on reviving sales growth with new products. One innovative Unilever idea: "Superfruit" flavors featuring fruits high in vitamins and minerals, like the acerola, which looks like...
...latest ads: "We're not greedy. We believe that it is better to sell hundreds of thousands of software programs at a reasonable price instead of a few at prices that would make Jesse James blush." Even at his prices, Kahn claims, Borland makes a pretax profit of 40%. Says he: "The actual material of a program costs less than $5. Most business programs cost between $300 and $500. This is kind of a rip-off. I'm trying to do things differently...
...Today is still not a financial winner. Though officials at Gannett will not divulge figures, Wall Street analysts estimate that the publication has lost about $250 million in pretax dollars. Neuharth has always said that the paper would not become profitable until 1987, but some company officials nonetheless seem a bit dismayed that the flood of red ink might top $350 million...
...including Meats Europe, its packaged-meat division that houses the Aoste brand - worth around 40% of the firm's revenues. Investors liked the slimmed-down look; shares climbed 4% on the news. Where does that leave rival Unilever? The Anglo-Dutch titan last week announced a 36% slide in pretax profits for 2004. "They need to re-establish a little bit of momentum" before trimming fat, says Andrew Wood of U.S. investment-research firm Sanford C. Bernstein. But don't expect major weight gain. Unilever first needs "to sort its own problems out," he says. Either way, their bankers' coffers...
...tallying so far has left the big stores crying "Bah, humbug." And the bad news kicked in even earlier. British supermarket chain J Sainsbury last week said its same-store sales, excluding gasoline, fell 1.2% in the third quarter. Two months earlier, the company had declared a $72.5 million pretax loss for the first half - the first loss in its 135-year history. One of its food-and-retail competitors, Marks & Spencer, earlier this month reported a 6% dip in U.K. same-store sales for the third quarter, and warned that factors such as weak Christmas sales meant profits...