Advance Data on Large Retailers' Profits for the First Quarter 1995 After-tax profits for retail corporations with assets of $50 million and over averaged 1.6 cents per dollar of sales for the first quarter of 1995, down 1.4 cents from the preceding quarter but up 0.2 cents from the same quarter in 1994, according to advance data from the Commerce Department's Bureau of the Census. For the first quarter of 1995, these large retail corporations reported after-tax profits of $3.3 billion, down $4.0 billion from the preceding quarter but up $0.6 billion from the same quarter a year ago. The annual rate of after-tax return on stockholders' equity was 9.1 percent, compared to 20.5 percent in the fourth quarter of 1994 and 8.5 percent in the first quarter of 1994. First quarter 1995 sales were $212.1 billion, down $30.5 billion or 12.6 percent from last quarter. First quarter sales on a year-to-year basis were up $17.9 billion or 9.2 percent. These data are based on quarterly financial reports obtained from 738 corporations. The figures in this release are not seasonally adjusted. More detailed information on the retail trade sector for the first quarter will be published in the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--Second Quarter 1995. Second quarter 1995 advance data are scheduled for release on September 11, 1995. Schedule of Advance Data Release Dates--1995 Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade Second 1995 September 11, 1995 October 11, 1995 Third 1995 December 11, 1995 This report is available on the day of issue through the Department of Commerce's on-line Economic Bulletin Board (N-8-1) (202-377-3870) and through the Census Bureau's on-line information service--CENDATA. Further information about accessing CENDATA can be obtained from Dialog Information Services, Inc. (1-800-334-2564) and CompuServe (1-800-848-8199). The CENDATA staff at the Bureau of the Census (301-457-1214) can provide content information and general guidance. TABLE 1. INCOME STATEMENT FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER 1Q 4Q 1Q 1995 1994(1) 1994(1) (million dollars) Net sales, receipts, and operating revenues.... 212,136 242,606 194,215 Less: Depreciation, depletion, and amortization 4,464 4,471 4,076 Less: All other operating costs and expenses... 200,479 224,419 182,618 Income (or loss) from operations............. 7,193 13,716 7,522 Net nonoperating income (expense).............. (1,902) (1,789) (2,825) Income (or loss) before income taxes......... 5,292 11,927 4,697 Less: Provision for current and deferred domestic income taxes........................ 1,967 4,579 1,993 Income (or loss) after income taxes.......... 3,325 7,347 2,704 Cash dividends charged to retained earnings 1,270 1,265 1,369 in current quarter........................... Net income retained in business.............. 2,055 6,082 1,336 Retained earnings at beginning of quarter...... 92,545 87,795 77,374 Other direct credits (or charges) to retained earnings (net)...................... (190) (1,104) 570 Retained earnings at end of quarter............ 94,410 92,772 79,280 (1) Revised. --------------------------------------------------------------------------- TABLE 2. INCOME STATEMENT IN RATIO FORMAT FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER 1Q 4Q 1Q 1995 1994(1) 1994(1) (cents) Net sales, receipts, and operating revenues.... 100.0 100.0 100.0 Less: Depreciation, depletion, and amortization 2.1 1.8 2.1 Less: All other operating costs and expenses... 94.5 92.5 94.0 Income (or loss) from operations............. 3.4 5.7 3.9 Net nonoperating income (expense).............. (0.9) (0.7) (1.5) Income (or loss) before income taxes......... 2.5 4.9 2.4 Less: Provision for current and deferred domestic income taxes........................ 0.9 1.9 1.0 Income (or loss) after income taxes.......... 1.6 3.0 1.4 -------------------------------------------------------------------------- TABLE 3. OPERATING RATIOS FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER 1Q 4Q 1Q 1995 1994(1) 1994(1) (percent) Annual rate of profit on stockholders' equity at end of period: Before income taxes......................... 14.55 33.29 14.82 After income taxes.......................... 9.14 20.51 8.53 Annual rate of profit on total assets: Before income taxes......................... 4.83 10.98 4.64 After income taxes.......................... 3.04 6.77 2.67 (1) Revised. Questions concerning this advance report should be directed to Ronald Lee (301) 763-5435 or Frank Hartman (301) 763-7182.