For the third quarter of 1997, these large retail corporations reported after-tax profits of $5.0 billion, up $1.0 (+/-0.2) billion from the preceding quarter, and up $0.1 (+/-0.2) billion from the same quarter a year ago. The annual rate of after-tax return on stockholders` equity was 11.4 percent, compared to 9.3 percent in the second quarter of 1997 and 12.0 percent in the third quarter of 1996.
Third quarter 1997 sales were $251.2 billion, up $2.9 billion or 1.2 (+/-1.7) percent from last quarter. Third quarter sales compared to the same quarter a year ago were up $13.7 billion or 5.8 (+/-1.7) percent.
These data are based on quarterly financial reports obtained from 535 corporations. The figures in this release are not seasonally adjusted. More detailed information on the retail trade sector for the third quarter will be published in the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--Fourth Quarter 1997 which is scheduled for release on April 6, 1998.
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, under "Products", at < http://www.census.gov/csd/www/qfr.html>.
3Q 2Q 3Q Item 1997 1997(1) 1996(1) (million dollars) Net sales, receipts, and operating revenues.... 251,227 248,355 237,535 Less: Depreciation, depletion, and amortization 5,223 5,202 5,000 Less: All other operating costs and expenses... 235,680 233,197 223,105 Income (or loss) from operations............. 10,325 9,956 9,430 Net nonoperating income (expense).............. (2,318) (3,302) (1,774) Income (or loss) before income taxes......... 8,006 6,654 7,656 Less: Provision for current and deferred domestic income taxes........................ 3,004 2,664 2,798 Income (or loss) after income taxes.......... 5,002 3,990 4,858 Cash dividends charged to retained earnings 1,198 1,409 1,163 in current quarter........................... Net income retained in business.............. 3,804 2,581 3,694 Retained earnings at beginning of quarter...... 111,285 109,877 101,454 Other direct credits (or charges) to retained earnings (net)...................... (576) (1,031) (646) Retained earnings at end of quarter............ 114,513 111,426 104,503(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-97-4.
3Q 2Q 3Q Item 1997 1997(1) 1996(1) (cents) Net sales, receipts, and operating revenues.... 100.0 100.0 100.0 Less: Depreciation, depletion, and amortization 2.1 2.1 2.1 Less: All other operating costs and expenses... 93.8 93.9 93.9 Income (or loss) from operations............. 4.1 4.0 4.0 Net nonoperating income (expense).............. (0.9) (1.3) (0.7) Income (or loss) before income taxes......... 3.2 2.7 3.2 Less: Provision for current and deferred domestic income taxes........................ 1.2 1.1 1.2 Income (or loss) after income taxes.......... 2.0 1.6 2.0(1) Revised.
3Q 2Q 3Q Item 1997 1997(1) 1996(1) (percent) Annual rate of profit on stockholders` equity at end of period: Before income taxes......................... 18.17 15.53 18.98 After income taxes.......................... 11.35 9.31 12.04 Annual rate of profit on total assets: Before income taxes......................... 6.25 5.43 6.26 After income taxes.......................... 3.90 3.26 3.97(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-97-4.
Electronic files are also available on 3.5 inch flexible diskettes from U.S. Department of Commerce, Bureau of the Census, (MS1921), P.O. Box 277943, Atlanta, GA 30384-7943 (301-763-INFO(4636)). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette.
This report is also available on the day of issue through the Department of Commerce`s on-line Economic Bulletin Board (N-8-1) (202-482-1986).
Questions concerning this advance report should be directed to Ronald Lee on (301) 763-5435 or Frank Hartman (301) 763-7182.
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