![[CHART 1: Large Retailers' After-Tax Profits.]](/csd/qfr/images/qfr001rt.jpg)
CHART 2: Retail Profits Per Dollar of Sales
![[Commerce Seal]](/pub/indicator/www/img/seal.gif)
Note: For order information, see the end of this report.
For the first quarter of 2000, these large retail corporations reported after-tax profits of $7.0 billion, down $5.4 (+\-0.3) 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 11.9 percent, down 9.4 percent (+\-0.5%) when compared to the fourth quarter of 1999, but showing no statistically significant change from the first quarter of 1999.
First quarter 2000 sales were $313.4 billion, down $30.5 billion or 8.9 percent (+\-1.2%) from last quarter but up $29.3 billion or 10.3 percent (+\-1.5%) from the first quarter of 1999.
These data are based on quarterly financial reports obtained from 499 corporations. 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 2000 which is scheduled for release on September 11, 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).
1Q 4Q 1Q
Item 2000 1999(1) 1999(1)
(million dollars)
Net sales, receipts, and operating revenues.... 313,435 343,893 284,112
Less: Depreciation, depletion, and amortization 6,600 6,629 6,071
Less: All other operating costs and expenses... 292,940 315,931 265,285
Income (or loss) from operations............. 13,896 21,333 12,755
Interest Expense .............................. 3,677 3,695 3,487
All other nonoperating income (expense)........ 1,445 2,136 1,238
Income (or loss) before income taxes......... 11,664 19,774 10,506
Less: Provision for current and deferred
domestic income taxes........................ 4,679 7,392 4,190
Income (or loss) after income taxes.......... 6,985 12,382 6,315
Cash dividends charged to retained earnings
in current quarter........................... 1,218 1,425 1,277
Net income retained in business.............. 5,767 10,957 5,038
Retained earnings at beginning of quarter...... 162,630 155,031 136,995
Other direct credits (or charges) to
retained earnings (net)...................... (6,698) (2,409) (739)
Retained earnings at end of quarter............ 161,699 163,579 141,294
(1) Revised.
1Q 4Q 1Q
Item 2000 1999(1) 1999(1)
(cents)
Net sales, receipts, and operating revenues.... 100.0 100.0 100.0
Less: Depreciation, depletion, and amortization 2.1 1.9 2.1
Less: All other operating costs and expenses... 93.5 91.9 93.4
Income (or loss) from operations............. 4.4 6.2 4.5
Interest Expense .............................. 1.2 1.1 1.2
All other nonoperating income (expense)........ 0.5 0.6 0.4
Income (or loss) before income taxes......... 3.7 5.8 3.7
Less: Provision for current and deferred
domestic income taxes........................ 1.5 2.1 1.5
Income (or loss) after income taxes.......... 2.2 3.6 2.2
(1) Revised.
1Q 4Q 1Q
Item 2000 1999(1) 1999(1)
(percent)
Annual rate of profit on stockholders` equity
at end of period:
Before income taxes......................... 19.93 33.95 19.90
After income taxes.......................... 11.93 21.26 11.96
Annual rate of profit on total assets:
Before income taxes......................... 7.46 12.74 7.17
After income taxes.......................... 4.47 7.97 4.31
(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-00-1.
This report is offered for sale by the Superintendent of
Documents, P.O. Box 371954, Pittsburgh, PA 15250-7954 (202-512-1800).
The annual subscription rate is $33, (foreign customers, $41.25 on an
international money order or by draft on a U.S. bank). Single publication
copies are $10 and $12.50, respectively and are available at
the Bureau of the Census, (301) 763-INFO(4636).
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
$80; $50 for for one quarter.
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).
Schedule of Advance Data Release Dates--2000
Questions concerning this advance report should be directed to
Contact:
Ronald Horton (301) 457-3343 or
Frank Hartman (301) 457-3379.
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Second 2000 September 11, 2000 October 12, 2000
Third 2000 December 12, 2000
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