Note: For order information, see the end of this report.
For the third quarter of 1999, these large retail corporations reported after-tax profits of $6.0 billion, down $1.0 (+\-0.2) billion from the preceding quarter, but up $0.7 (+\-0.2) billion from the same quarter a year ago. The annual rate of after-tax return on stockholders` equity was 10.8 percent, down 2.3 percent (+\-0.4%) when compared to the second quarter of 1999, but showing no statistically significant change from the third quarter of 1998.
Third quarter 1999 sales were $301.0 billion, showing no statistically significant change from last quarter but up $23.5 billion or 8.5 percent (+\-1.8%) from the third quarter of 1998.
These data are based on quarterly financial reports obtained from 479 corporations. The figures in this release are not seasonally adjusted. 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-Fourth Quarter 1999 which is scheduled for release on April 5, 2000.
EXPLANATORY NOTES:
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 nonsampling variability such as response error, nonreporting, 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 report is available on the day of issue through the Department of Commerce`s on-line Economic Bulletin Board (202-482-1986) and on the Internet http://www.census.gov/csd/qfr.
3Q 2Q 3Q Item 1999 1999(1) 1998(1) (million dollars) Net sales, receipts, and operating revenues.... 301,008 298,706 277,515 Less: Depreciation, depletion, and amortization 6,351 6,123 5,909 Less: All other operating costs and expenses... 280,333 277,580 259,355 Income (or loss) from operations............. 14,325 15,003 12,251 Interest Expense .............................. 3,742 3,659 3,374 All other nonoperating income (expense)........ 464 599 315 Income (or loss) before income taxes......... 11,047 11,942 9,192 Less: Provision for current and deferred domestic income taxes........................ 5,044 4,891 3,931 Income (or loss) after income taxes.......... 6,003 7,051 5,261 Cash dividends charged to retained earnings in current quarter........................... 1,582 1,442 1,236 Net income retained in business.............. 4,421 5,609 4,024 Retained earnings at beginning of quarter...... 148,162 141,422 126,774 Other direct credits (or charges) to retained earnings (net)...................... (1,176) (662) (1,186) Retained earnings at end of quarter............ 151,408 146,369 129,612(1) Revised.
3Q 2Q 3Q Item 1999 1999(1) 1998(1) (cents) Net sales, receipts, and operating revenues.... 100.0 100.0 100.0 Less: Depreciation, depletion, and amortization 2.1 2.0 2.1 Less: All other operating costs and expenses... 93.1 92.9 93.5 Income (or loss) from operations............. 4.8 5.0 4.4 Interest Expense .............................. 1.2 1.2 1.2 All other nonoperating income (expense)........ 0.2 0.2 0.1 Income (or loss) before income taxes......... 3.7 4.0 3.3 Less: Provision for current and deferred domestic income taxes........................ 1.7 1.6 1.4 Income (or loss) after income taxes.......... 2.0 2.4 1.9(1) Revised.
3Q 2Q 3Q Item 1999 1999(1) 1998(1) (percent) Annual rate of profit on stockholders` equity at end of period: Before income taxes......................... 19.96 22.11 18.61 After income taxes.......................... 10.85 13.05 10.65 Annual rate of profit on total assets: Before income taxes......................... 7.09 8.05 6.40 After income taxes.......................... 3.85 4.75 3.66(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations.
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Documents, P.O. Box 371954, Pittsburg, PA 15250-7954 (202-512-1800).
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Schedule of Advance Data Release Dates-- 2000
Questions concerning this advance report should be directed to
Contact:
Ronald H. Lee (301) 457-3343 or
Frank Hartman (301) 457-3379.
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Fourth 1999 April 5 **
First 2000 June 12 July 12
Second 2000 September 11 October 12
Third 2000 December 12
**Note: Retail Data will be included in the release for manufacturing, mining, and wholesale trade.
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