![[CHART 1: Large Retailers' After-Tax Profits.]](/csd/qfr/images/qfr051rd.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 3.1 cents per dollar of sales for the first quarter of 2005, down 0.6 (±0.1) cents from the 3.7 cents of the preceding quarter, and up 0.2 (±0.1) cents from the 2.9 cents recorded in the first quarter of 2004.
The annual rate of after-tax profits on stockholders' equity in the first quarter of 2005 was 15.4 percent, down 4.6 percent (±0.2%) from the 20.0 percent of the fourth quarter of 2004, but up 0.4 percent (±0.2%) from the 15.0 percent of the first quarter of 2004.
NOTE These data are based on quarterly financial reports obtained from approximately 500 corporations. More detailed information on the retail trade sector for the first quarter 2005 will be published in the Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations - Second Quarter 2005, scheduled for release on September 12, 2005.
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.
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.
Second quarter 2005 advance data for U.S Manufacturing, Mining and Wholesale Trade Corporations are scheduled for release on September 12, 2005.
Second quarter 2005 advance data for U.S. Retail Corporations are scheduled for release on October 12, 2005.
1Q 4Q 1Q
Item 2005 2004(1) 2004(1)
(million dollars)
Net sales, receipts, and operating revenues.... 424,214 453,994 394,605
Less: Depreciation, depletion, and amortization 8,321 8,378 7,466
Less: All other operating costs and expenses... 396,423 420,506 368,402
Income (or loss) from operations............. 19,471 25,110 18,738
Interest Expense .............................. 3,013 3,034 2,811
All other nonoperating income (expense)........ 2,722 3,319 1,563
Income (or loss) before income taxes......... 19,180 25,395 17,491
Less: Provision for current and deferred
domestic income taxes........................ 6,153 8,633 6,062
Income (or loss) after income taxes.......... 13,028 16,763 11,429
Cash dividends charged to retained earnings
in current quarter........................... 2,498 2,704 2,404
Net income retained in business.............. 10,530 14,059 9,025
Retained earnings at beginning of quarter...... 248,418 238,469 218,342
Other direct credits (or charges) to
retained earnings (net)...................... (7,472) (3,496) (6,992)
Retained earnings at end of quarter............ 251,476 249,032 220,375
(1) Revised.
1Q 4Q 1Q
Item 2005 2004(1) 2004(1)
(cents)
Net sales, receipts, and operating revenues.... 100.0 100.0 100.0
Less: Depreciation, depletion, and amortization 2.0 1.8 1.9
Less: All other operating costs and expenses... 93.4 92.6 93.4
Income (or loss) from operations............. 4.6 5.5 4.7
Interest Expense .............................. 0.7 0.7 0.7
All other nonoperating income (expense)........ 0.6 0.7 0.4
Income (or loss) before income taxes......... 4.5 5.6 4.4
Less: Provision for current and deferred
domestic income taxes........................ 1.5 1.9 1.5
Income (or loss) after income taxes.......... 3.1 3.7 2.9
(1) Revised.
1Q 4Q 1Q
Item 2005 2004(1) 2004(1)
(percent)
Annual rate of profit on stockholders' equity
at end of period:
Before income taxes......................... 22.67 30.37 23.00
After income taxes.......................... 15.40 20.04 15.03
Annual rate of profit on total assets:
Before income taxes......................... 9.61 12.77 9.48
After income taxes.......................... 6.53 8.43 6.20
(1) Revised.
SOURCE: Quarterly Financial Report for Retail Trade Corporations--QFR-05-1, July 2005. U.S. Census Bureau, July 2005.
Schedule of Advance Data Release Dates--2005
[Economic Indicator Release Schedule]
Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade
Second 2005 September 12, 2005 October 12, 2005
Third 2005 December 12, 2005
Questions concerning this advance report should be directed to Contact: Yolando St.George (301) 763-6600 or John Seabold (301) 763-3386.
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