Word: profit
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Since more than half of annual toy sales occur in the fourth quarter, some analysts say it's too soon to call the year a bust. Retailers are stocking less toy inventory this season, which should help them avoid profit-killing sales. Recent price surveys suggest that Toys "R" Us is more competitive with Wal-Mart this year, and Wal-Mart appears to be devoting less shelf space to its Kid Connection private-label toys--good news for brand names like Mattel and Hasbro. A weakening buck may also translate overseas sales into higher profits when converted back into dollars...
Lenovo is one of a small but growing number of Chinese firms that are trying to ease profit pressure at home through global acquisitions. Guangdong-based TCL last year bought the television arm (including the RCA brand) of French electronics giant Thomson. Shanghai Automotive Industry Corp. is in talks to acquire the very English MG Rover and has already bought Korean SUV maker Ssangyong. A consortium of Chinese companies bid on the Canadian mining firm Noranda. Says Arthur Kroeber, managing editor of the China Economic Quarterly, of the dealmaking: "It's not a silly gamble, but it is high risk...
...hierarchy, which stopped anybody from making a decision unless the boss was around. Now he enjoys sitting with his employees over a meal of grilled pork and fiery Korean-style rice wine. His strategy is paying off. Debt is down 60%, and Eastel expects to eke out a small profit this year, while competitors are going bust. And the engineers are smiling again. --By Donald Macintyre/ Seoul. With reporting by Noel Yang
...backing up his commitment by starting new training, communications and performance- review initiatives--and in the case of Japan, by firing some of the top executives that the legendary Weill had put in place before stepping aside as CEO. At stake is Citi's legacy-- not just as a profit machine ($18 billion in net income on revenues of $77 billion in 2003) and shareholder's delight (the stock has risen far faster than the market since 1986), but also as a dominant global bank that trades on its good reputation as much as on its capital and contacts. Prince...
At Balder Electric, which is based in Fort Smith, Ark., but sells its industrial motors around the world, these are flush times. After several sluggish years, profit margins are expanding again, revenue is soaring, and earnings will rise 30% this year. Its sales in 70 countries are booming--from Canada to Germany to China. "Our international business is up almost double our domestic business," says CEO John McFarland...