![[CHART 1: Large Retailers' After-Tax Profits.]](https://webarchive.library.unt.edu/eot2008/20081017233431im_/http://www.census.gov/csd/qfr/images/qfr032rd.jpg)
CHART 2: Retail Profits Per Dollar of Sales
![[Commerce Seal]](https://webarchive.library.unt.edu/eot2008/20081017233431im_/http://www.census.gov/pub/indicator/www/img/seal.gif)
--Released 10 a.m. (EDT), Wednesday, October 15, 2003 (CB03-162)
e-mail: csd.qfr@census.gov
Note: For order information, see the end of this report.
For the second quarter of 2003, large retail
corporations with assets of $50 million and over
reported after-tax profits of $9.1 billion, up $0.5
(±0.2) billion from the preceding quarter, but down
$0.5 (±0.2) billion from the same quarter a year ago,
the Commerce Department`s Census Bureau
reported. Sales in the second quarter 2003, at $365.2
billion, were up $13.1 (±1.8) billion or 3.7 percent
(±0.5%) from last quarter, and up $15.1 (±2.4) billion
or 4.3 percent (±0.7%) from the second quarter of
2002. These data are not adjusted for seasonality.
After-tax profits for these corporations averaged 2.5 cents per dollar of sales for the second quarter of 2003, up from the 2.4 cents of the preceding quarter, but down 0.2 (±0.1) cents from the 2.7 cents recorded in the second quarter of 2002.
The annual rate of after-tax profit on stockholders` equity was 13.0 percent, up from the 12.4 percent of the first quarter of 2003, but down from the 14.5 percent of the second quarter of 2002.
These data are based on quarterly financial reports obtained from approximately 500 corporations. More detailed information on the retail trade sector for the second quarter will be published in the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations–Third Quarter 2003, scheduled for release on December 12, 2003.
This quarter`s publication contains data revised due to the reclassification of
corporations by industry, and revisions that reflect respondents` corrections
of data submitted subsequent to original publication.
The data presented in this report are estimated from a sample survey and therefore are subject to sampling variability as well as non-sampling variability such as response error, non-reporting, and coverage errors. Estimates of sampling variability are presented in the publication. A statement such as "up 2.5 (+\-0.1) cents," appearing in the text, indicates the range (+2.4 to +2.6 cents) in which the actual change is likely to have occurred. The range given for the change is a 90 percent confidence interval that accounts only for sampling variability. If the range had contained zero (0), it would have been uncertain whether there was an increase or decrease; that is, the change would not have been statistically significant. For any comparison cited without a confidence interval, the change is statistically significant. The quarterly publication includes more detailed explanations of confidence intervals and sampling variability, along with additional measures of sampling variability.
This press release can be viewed today in page image format (pdf) at our internet website www.census.gov/csd/qfr.
The Quarterly Financial Report for Manufacturing, Mining and Trade Corporations is available for downloading under "QFR Products: Publication," at www.census.gov/csd/qfr.
2Q 1Q 2Q
Item 2003 2003(1) 2002(1)
(million dollars)
Net sales, receipts, and operating revenues.... 365,186 352,074 350,116
Less: Depreciation, depletion, and amortization 7,189 7,097 6,866
Less: All other operating costs and expenses... 341,986 329,932 326,803
Income (or loss) from operations............. 16,011 15,045 16,447
Interest Expense .............................. 3,358 3,349 3,476
All other nonoperating income (expense)........ 1,534 1,533 1,651
Income (or loss) before income taxes......... 14,188 13,228 14,622
Less: Provision for current and deferred
domestic income taxes........................ 5,108 4,655 5,083
Income (or loss) after income taxes.......... 9,080 8,574 9,538
Cash dividends charged to retained earnings
in current quarter........................... 1,797 1,557 1,255
Net income retained in business.............. 7,283 7,017 8,283
Retained earnings at beginning of quarter...... 192,642 188,187 169,998
Other direct credits (or charges) to
retained earnings (net)...................... (3,941) (3,663) (3,706)
Retained earnings at end of quarter............ 195,985 191,540 174,575
(1) Revised.
2Q 1Q 2Q
Item 2003 2003(1) 2002(1)
(cents)
Net sales, receipts, and operating revenues.... 100.0 100.0 100.0
Less: Depreciation, depletion, and amortization 2.0 2.0 2.0
Less: All other operating costs and expenses... 93.6 93.7 93.3
Income (or loss) from operations............. 4.4 4.3 4.7
Interest Expense .............................. 0.9 1.0 1.0
All other nonoperating income (expense)........ 0.4 0.4 0.5
Income (or loss) before income taxes......... 3.9 3.8 4.2
Less: Provision for current and deferred
domestic income taxes........................ 1.4 1.3 1.5
Income (or loss) after income taxes.......... 2.5 2.4 2.7
(1) Revised.
2Q 1Q 2Q
Item 2003 2003(1) 2002(1)
(percent)
Annual rate of profit on stockholders` equity
at end of period:
Before income taxes......................... 20.25 19.19 22.30
After income taxes.......................... 12.96 12.44 14.55
Annual rate of profit on total assets:
Before income taxes......................... 7.93 7.41 8.61
After income taxes.......................... 5.07 4.80 5.62
(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-03-2, October 2003. U.S. Census Bureau, October 2003.
The publication becomes available for sale approximately two weeks from the
date of this release from the Superintendent of Documents, P.O. Box 371954,
Pittsburgh, PA 15250-7954 (202-512-1800). The annual subscription rate is $39,
(foreign customers, $48.75 on an international money order or by draft on a
U.S. bank).
Schedule of Advance Data Release Dates--2003
Data in this release are presented on the North American Industry Classification System (NAICS).
Questions concerning this advance report should be directed to
Contact:
Yolando St.George (301) 763-6600 or
Frank Hartman (301) 763-3386.
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Third 2003 December 12, 2003 January 13, 2004
See the 1997 NAICS manual, or visit the NAICS Web site at http://www.census.gov/naics.
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