Word: year-ago
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...million trucks. That volume would make 1983 the fourth most sluggish year for autos since 1961 (the slowest pace: 5.7 million cars in 1982). This year's results are likely to be only some 4.6% better than the depressed level of 1980, when Detroit sold 6.5 million cars and lost a total of $4.2 billion. Last week domestic manufacturers said they sold cars at an annual rate of 6.7 million units during the first ten days of October, up 45% from the feeble year-ago pace...
...Mart's profits last year mushroomed to $124.1 million, from $82.8 million in 1981. With first-quarter earnings up 51% over the same year-ago period, to $27.5 million, Wal-Mart has become a Wall Street darling. During the past year, its stock price has tripled, closing last week...
...strike has not greatly afflicted the city's economy. Attendance at Broadway theaters is down slightly from last year, but department-store sales are running 5% to 10% ahead of year-ago levels. The local real estate market is so tight ?apartment vacancies are running below 3% of units?that agents do not have much to advertise anyway. Some florists say that funeral business is down about 10% because, though people still die, they are not honored with newspaper obituaries. A few weddings have been postponed because the parents felt they had earned a notice in the Times...
Impulse Purchase. Actually, business was starting to rebound even before July. In June sales were 16% above year-ago levels, and July's heat drove even more buyers into appliance stores. "It's an impulse item," explains Nicholas F. Tralongo, an appliance-industry analyst at Manhattan's Blyth Eastman Dillon & Co. "You have a bad week, and you rush...
...race for supremacy between the nation's three leading banks, one is lagging badly. Last month, while the Bank of America and Citibank reported nearly 12% increases in earnings for the second quarter of the year as compared with the year-ago period, the Chase Manhattan reported a dismal 44.7% decrease in profits, to $30.1 million, v. $54.5 million for the second quarter of 1975. The Chase remains a powerful financial institution, with $43.9 billion in assets. But clearly it has lost its front-running momentum...