Hormel Foods' third-quarter profit rose 49 percent to beat estimates as costs fell, but sales and volume dropped as consumers limited their spending on more expensive items like microwavable meals.

 

Barnes & Noble , the nation's largest bookstore chain, said its second-quarter profit fell 27 percent, but results beat analyst expectations as the company cut costs. Profit for the three months ended Aug. 1 fell to $12.3 million, or 21 cents per share, from $16.8 million, or 27 cents per share last year. Excluding a benefit from an insurance settlement, net income was 14 cents per share. Analysts expected 9 cents per share and the company had predicted a range of 5 cents to 15 cents per share.

 

H.J. Heinz Co .'s fiscal first-quarter profit fell 7 percent largely because of the stronger dollar, but the results topped analysts' estimates. Heinz earned $212.6 million, or 67 cents per share for the quarter ended July 29, compared with $229 million, or 72 cents per share, a year earlier.

 

Sears Holdings Corp. 's said it lost money in its second quarter -- missing expectations -- as its results were dragged down by lower sales and one-time costs, causing shares to plunge. The weak housing market cost it sales in home-improvement and appliance categories at Sears department stores, and clothing sales were weak at both Sears and its Kmart discount chain. Shares fell $9.26,

or 12.6 percent, to $64.50 in premarket trading. The retailer lost $94 million, or 79 cents per share, for the period ended Aug. 1. That compares to a profit of $65 million, or 50 cents per share, a year ago. It was the company's third loss in the past six quarters.

 

Hewlett-Packard Co. 's profit dropped 19 percent in the latest quarter, dragged down by ongoing weakness in sales of personal computers and printer ink. The Palo Alto, Calif.-based company reported Tuesday that consumer spending on PCs is improving, and business in China was particularly good. Corporations are still being tightfisted, though. Because of the recession, 2009 is shaping up to be the worst year in nearly a decade for the PC industry.

 

Home Depot Inc . reports that its fiscal second-quarter profit fell 7 percent, as consumers continued to shy away from bigger purchases, but cost-cutting and sales of smaller items such as paint and garden products helped results beat expectations. The nation's biggest home-improvement retailer said total transactions in the U.S. increased year-over-year for the first time in five years and same-store sales rates improved in Florida and California, two of its most important -- and troubled -- markets. It lifted its guidance for full-year earnings from continuing operations.