1994-05-09, English, Article, Journal or magazine article edition: CompUSA returns to profitability, trims openings. Richter, Allan

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Physical Description
  • Magazine/​Journal article
Published
  • United Business Media LLC, 1994 May 9
Language
  • English

Edition details

Title
  • CompUSA returns to profitability, trims openings.
Appears In
  • Computer Retail Week, v4, no.n62, 1994 May 9, p20(1) (ISSN: 1066-7598)
Author
  • Richter, Allan
Published
  • United Business Media LLC, 1994 May 9
Physical Description
  • Magazine/​Journal article
Subjects
Target Audience
  • Trade
Summary
  • CompUSA Inc reports net income of $3.4 million, or 18 cents per share, for 3rd qtr FY 1994, ending Mar 27. The figures meet analysts' expectations, but are marred by aggressive price-cutting and a jump in interest expense to $3.1 million from $520,000 in the year-before quarter. In 3rd qtr FY 1993, the computer retailer posted net income of $4.3 million, or 23 cents per share. Gross margins were 12.4 percent, down from 13.7 percent in the year-before quarter. CEO James Haplin says tighter controls enabled CompUSA to return to profitability after two straight losing quarters. The Dallas headquarters is asserting more control over hardware-purchasing functions and has clamped down on pre-opening expenses. CompUSA's year-old training program is also contributing to profitability. Haplin attributes the interest-expense rise to 1993's $110 million debt offering.
Language
  • English
Database
  • Gale General OneFile
Identifier
  • 15564449

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