Business news briefs
golf course best
Park Meadows Country Club in Park City was named the best private golf course in Utah by Salt Lake magazine. Golfing legend Jack Nicklaus designed the course, which has been the site of 10 Senior PGA Tour events.
Extra Space Storage Inc., a Utah-based real estate investment trust, said its board of directors declared a quarterly dividend of 20 cents per share. It will be paid Sept. 28 to those who are listed as shareholders on Sept. 14. Extra Space Storage owns or operates 882 self-storage properties in 34 states and Washington, D.C.
Rally Motor gets
Rally Motor Credit, part of the Larry H. Miller Group, has received a $25 million line of credit from Wells Fargo. The new line will support its efforts to grow its business among dealerships within and outside of the Miller Group. Rally offers automobile financing to consumers in seven Western states.
Kroger 2Q profits
dip as costs rise
The Kroger Co., parent of Utah-based Smith's Food & Drug, said its second quarter profit dipped because of higher expenses and taxes. For the quarter ended Aug. 11, net income was $279.1 million, or 51 cents per share, down from $280.8 million, or 46 cents per share, a year ago when more shares were outstanding. Revenue climbed 3.9 percent, to $21.73 billion.
Intel slashes 3Q
Intel is cutting its third-quarter revenue forecast because of softer-than-expected demand for its chips amid difficult economic conditions. The company, whose chips go into most personal computers, is viewed as a bellwether for the computer industry. It expects revenue of $13.2 billion, down from $13.8 billion.
A research firm says U.S. retail sales of video game hardware and software fell for the ninth straight month in August. The NPD Group said sales fell 20 percent, to $515.6 million. Software sales the video games themselves fell 9 percent from a year ago, to $237.7 million. Sales of hardware such as Microsoft's Xbox 360 and Sony's PlayStation 3 fell 39 percent, to $150.6 million.
Kraft sees 2013
Kraft Foods said its new North American food company will post a 2013 profit of $2.60 per share. Kraft will split into two companies on Oct. 1. It decided to spin off its global snack business under the name Mondelez International in March. The North American grocery business will continue to carry the name Kraft.