![[CHART 1: Large Retailers' After-Tax Profits.]](/csd/qfr/images/qfr042rd.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.
After-tax profits for these corporations averaged 3.3 cents per dollar of sales for the second quarter of 2004, up 0.4 (±0.1) cents from the 2.9 cents of the preceding quarter and up 0.7 (±0.1) cents from the 2.6 cents recorded in the second quarter of 2003.
The annual rate of after-tax profits on stockholders' equity was 16.8 percent, up 1.4 percent (±0.2%) from the 15.4 percent of the first quarter of 2004 and up 3.2 percent (±0.2%) from the 13.6 percent of the second quarter of 2003.
EXPLANATORY NOTES:
These data are based on quarterly financial reports obtained from approximately 500 corporations. More detailed information on the retail trade sector for the second quarter 2004 will be published in the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations - Third Quarter 2004, scheduled for release on December 14, 2004.
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 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.
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. The publication is available for sale from the Superintendent of Documents, P.O. Box 371954, Pittsburgh, PA 15250-7954 (202-512-1800). Fax orders to (202) 512-2250 or phone orders to (202) 512-1800 (8am-4:30pm EDT). The cost for an annual subscription is $58 domestic and $81.20 foreign. Data are also available on 3.5inch diskettes from the U.S. Department of Commerce, Census Bureau (MS0801), P.O. Box 277943, Atlanta, GA 30384-7943 (301-763-INFO/301-763-4636). The cost for an annual subscription is $80 domestic and $105 foreign. The cost for a single diskette is $50. All remittances from foreign countries must be by international money order or by draft on a U.S. bank.
This report is available on the day of issue on the Department of Commerce's Internet website at http://www.census.gov/csd/qfr/
2Q 1Q 2Q
Item 2004 2004(1) 2003(1)
(million dollars)
Net sales, receipts, and operating revenues.... 395,069 393,272 364,786
Less: Depreciation, depletion, and amortization 7,506 7,368 7,154
Less: All other operating costs and expenses... 368,796 366,026 341,046
Income (or loss) from operations............. 18,767 19,878 16,586
Interest Expense .............................. 3,744 3,569 3,115
All other nonoperating income (expense)........ 4,611 1,457 1,418
Income (or loss) before income taxes......... 19,635 17,766 14,888
Less: Provision for current and deferred
domestic income taxes........................ 6,757 6,237 5,277
Income (or loss) after income taxes.......... 12,878 11,529 9,612
Cash dividends charged to retained earnings
in current quarter........................... 2,877 2,763 1,939
Net income retained in business.............. 10,001 8,766 7,673
Retained earnings at beginning of quarter...... 214,004 211,331 194,161
Other direct credits (or charges) to
retained earnings (net)...................... (3,446) (7,202) (2,617)
Retained earnings at end of quarter............ 220,559 212,895 199,216
(1) Revised.
2Q 1Q 2Q
Item 2004 2004(1) 2003(1)
(cents)
Net sales, receipts, and operating revenues.... 100.0 100.0 100.0
Less: Depreciation, depletion, and amortization 1.9 1.9 2.0
Less: All other operating costs and expenses... 93.3 93.1 93.5
Income (or loss) from operations............. 4.8 5.1 4.5
Interest Expense .............................. 0.9 0.9 0.9
All other nonoperating income (expense)........ 1.2 0.4 0.4
Income (or loss) before income taxes......... 5.0 4.5 4.1
Less: Provision for current and deferred
domestic income taxes........................ 1.7 1.6 1.4
Income (or loss) after income taxes.......... 3.3 2.9 2.6
(1) Revised.
2Q 1Q 2Q
Item 2004 2004(1) 2003(1)
(percent)
Annual rate of profit on stockholders' equity
at end of period:
Before income taxes......................... 25.64 23.78 21.12
After income taxes.......................... 16.82 15.43 13.64
Annual rate of profit on total assets:
Before income taxes......................... 10.29 9.43 8.42
After income taxes.......................... 6.75 6.12 5.43
(1) Revised.
SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-04-2, October 2004. U.S. Census Bureau, October 2004.
Schedule of Advance Data Release Dates--2004
Questions concerning this advance report should be directed to
Contact:
Yolando st.George (301) 763-6600 or
John Seabold (301) 763-3386.
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Third 2004 December 14, 2004
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