Economic and Statistics Administration, U.S. Department of Commerce
THIRD QUARTER 2006 ADVANCE DATA FROM THE QUARTERLY FINANCIAL REPORT
LARGE U.S. RETAIL TRADE CORPORATIONS
   Released 10 a.m. (EST), Tuesday, January 9, 2007    CB07-06
Contact:
Yolando St.George (301) 763-6600 or
John Seabold (301) 763-3386.
   Press Release (pdf)   |  
QFR Program
CHART 1:
CHART 2:
Retail Profits Per Dollar of Sales
After-Tax Profits and Sales - Not Seasonally Adjusted
After-tax profits of U.S. retail corporations with assets of
$50 million and over totaled $14.4 billion in the third
quarter 2006, up $0.7 (±0.1) billion from the $13.8
billion of the preceding quarter, and up $1.6 (±0.1)
billion from the $12.8 billion of the same quarter a year ago,
the U.S. Census Bureau reported. Sales in the third
quarter 2006, at $484.1 billion, were not statistically
different from the $482.6 billion of last quarter, and up
$38.0 (±5.1) billion or 8.5 percent (±1.2%) from the
$446.1 billion of the third quarter of 2005. These data
are not adjusted for seasonality.
After-tax profits for these corporations averaged 3.0
cents per dollar of sales for the third quarter of 2006, up
0.1 cent from the 2.9 cents of the preceding quarter, and
up 0.1 cent from the 2.9 cents recorded in the third
quarter of 2005.
The annual rate of after-tax profits on stockholders'
equity in the third quarter of 2006 was 15.0 percent, up
0.5 percent (±0.1%) from the 14.6 percent of the second
quarter of 2006, and up 0.5 percent (±0.1%) from the
14.5 percent of the third quarter of 2005.
NOTE
These data are based on quarterly financial reports obtained from
approximately 500 corporations. More detailed information on the
retail trade sector for the third quarter 2006 will be published in the
Quarterly Financial Report for Manufacturing, Mining, and Trade
Corporations - Fourth Quarter 2006 (QFR-06-4), scheduled for release
on April 3, 2007.
SAMPLING
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 (+/-0.2) cents", appearing in
the text, indicates the range (+2.3 to +2.7 cents) in which the actual
change is likely to have occurred. The range given for the change is a
90% 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 at
the 90% confidence level. The quarterly publication includes more
detailed explanations of confidence intervals and sampling variability,
along with additional measures of sampling variability.
Beginning with the 3Q2006 publication, the methodology for calculating the sample
variance has changed. See the Survey Methodology section of the Introduction text
in the publication release for information on this change in methodology for
calculating the sample variance.
DATA AVAILABILITY
This press release can be viewed today in page image format (.pdf) at
the internet website http://www.census.gov/csd/qfr. More detailed
information on U.S. Manufacturing, Mining, and Wholesale and Retail
Trade Corporations is available for downloading at our website under
"QFR Products: Publication". The publication includes statements of
income and retained earnings, balance sheets, and related financial
and operating ratios. Data presented are classified by industry and
asset size.
Fourth quarter 2006 advance data for U.S. Manufacturing, Mining,
Wholesale and Retail Trade Corporations are scheduled for release on
April 3, 2007.
TABLE 1. INCOME STATEMENT FOR U.S. RETAIL TRADE CORPORATIONS -
ASSETS $50 MILLION AND OVER
3Q 2Q 3Q
Item 2006 2006(1) 2005(1)
(million dollars)
Net sales, receipts, and operating revenues.... 484,119 482,649 446,121
Less: Depreciation, depletion, and amortization 8,954 8,911 8,355
Less: All other operating costs and expenses... 452,545 450,661 418,618
Income (or loss) from operations............. 22,620 23,077 19,147
Interest Expense .............................. 3,561 3,483 3,101
All other nonoperating income (expense)........ 2,970 2,022 3,112
Income (or loss) before income taxes......... 22,029 21,616 19,158
Less: Provision for current and deferred
domestic income taxes........................ 7,593 7,832 6,351
Income (or loss) after income taxes.......... 14,436 13,783 12,807
Cash dividends charged to retained earnings
in current quarter........................... 2,457 3,211 2,328
Net income retained in business.............. 11,978 10,572 10,480
Retained earnings at beginning of quarter...... 275,777 265,522 240,846
Other direct credits (or charges) to
retained earnings (net)...................... (2,652) (2,996) (7,635)
Retained earnings at end of quarter............ 285,104 273,098 243,691
(1) Revised.
SOURCE:Quarterly Financial Report for Retail Trade Corporations--QFR-06-3, January 2007.
U.S. Census Bureau, January 2007.
TABLE 2. INCOME STATEMENT RATIOS FOR U.S. RETAIL TRADE
CORPORATIONS - ASSETS $50 MILLION AND OVER
3Q 2Q 3Q
Item 2006 2006(1) 2005(1)
(cents)
Net sales, receipts, and operating revenues.... 100.0 100.0 100.0
Less: Depreciation, depletion, and amortization 1.9 1.9 1.9
Less: All other operating costs and expenses... 93.5 93.4 93.8
Income (or loss) from operations............. 4.7 4.8 4.3
Interest Expense .............................. 0.7 0.7 0.7
All other nonoperating income (expense)........ 0.6 0.4 0.7
Income (or loss) before income taxes......... 4.6 4.5 4.3
Less: Provision for current and deferred
domestic income taxes........................ 1.6 1.6 1.4
Income (or loss) after income taxes.......... 3.0 2.9 2.9
(1) Revised.
SOURCE: Quarterly Financial Report for Retail Trade Corporations--QFR-06-3, January 2007.
U.S. Census Bureau, January 2007.
TABLE 3. OPERATING RATIOS FOR U.S. RETAIL TRADE CORPORATIONS -
ASSETS $50 MILLION AND OVER
3Q 2Q 3Q
Item 2006 2006(1) 2005(1)
(percent)
Annual rate of profit on stockholders' equity
at end of period:
Before income taxes......................... 22.92 22.84 21.72
After income taxes.......................... 15.02 14.56 14.52
Annual rate of profit on total assets:
Before income taxes......................... 9.67 9.70 9.09
After income taxes.......................... 6.34 6.19 6.07
(1) Revised.
SOURCE: Quarterly Financial Report for Retail Trade Corporations--QFR-06-3, January 2007.
U.S. Census Bureau, January 2007.
  RELEASE INFORMATION
Schedule of Advance Data Release Dates:     2007
Economic Indicator Release Schedule
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Fourth 2006 April 3, 2007 April 3, 2007
First 2007 June 11, 2007 July 11, 2007
Second 2007 September 10, 2007 October 9, 2007
Third 2007 December 10, 2007
Questions concerning this advance report should be directed to
Contact:
Yolando St.George   (301) 763-6600    or   
John Seabold   (301) 763-3386.
e-mail: csd.qfr@census.gov
Source: U.S. Census Bureau, Company Statistics Division
Maintained by Traci Gillespie-Brown
Revised Tuesday, 09-Jan-2007 16:11:55 EST.
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