John Rogers, President and CEO of CFA talks the importance of creating a professional standard in the financial industry.» Read More
PLEASANTON, Calif.-- Ross Stores Inc.' s fiscal first-quarter revenue came in ahead of market expectations as consumers continued to show a desire for a deal. The Pleasanton, Calif., company's net income increased to $234.6 million, or $1.07 per share, for three months ended May 4, from $208.6 million, or 93 cents per share, in the 2012 first quarter.
May 23- Gap Inc reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia. The company, which also owns Banana Republic, posted net income of $333 million, or 71 cents per share, for the quarter ended May 4, up 42.9 percent from $223 million, or 47 cents per share, a year earlier.
May 23- Gap Inc reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia.
DETROIT, May 23- Chrysler Group LLC and Tesla Motors Inc, both led by media-savvy executives, are trading public jabs over the definition of payback. Tesla wired $452 million on Wednesday to repay the remaining portion of its U.S. Department of Energy loan with interest.
NEW YORK-- The financial services company ING U.S. Inc. said Thursday that its first-quarter loss narrowed, helped by better results at its retirement and annuities businesses. ING U.S. is part of Dutch financial services provider ING Groep NV.
NEW YORK-- Alkermes PLC said Thursday that it was profitable in its fiscal fourth quarter as it received bigger royalty payments and more revenue for drug manufacturing. Alkermes said it earned $3 million, or 2 cents per share, over the three months ended March 31.
*Earned C $1.90 a share, vs analysts' forecast of C $1.91. TORONTO, May 23- Toronto-Dominion Bank reported a 2 percent increase in quarterly earnings as higher trading, business lending and U.S. banking income offset slowing loan growth in its core Canadian market.
TAMPA, Fla.-- Bloomin' Brands Inc., the parent company of Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill, on Thursday priced its secondary offering of 19 million shares of its stock at $21.50 per share. Bloomin' Brands will not receive any proceeds from the offering. Bloomin' Brands, based in Tampa, Fla., said the offering is expected to close May 29.
*Hikes size to $465 mln from $350 mln. DUBAI, May 23- National Bank of Abu Dhabi, the UAE's largest lender by market value, has increased its convertible bond offering to $465 million following high demand from investors for a rare convertible from the Gulf region. NBAD shares closed on Thursday at 12.05 dirhams.
MOSCOW-- Russia's deputy prime minister said Thursday that Rosneft's CEO has assured him the interests of disgruntled minority shareholders in oil firm TNK-BP would be respected. TNK-BP, Russia's third-largest oil company, was taken over by Rosneft last year.
MIAMI-- Perry Ellis' fiscal first-quarter net income climbed 17 percent thanks in part to the sale of some assets. The company still topped Wall Street profit predictions even with those asset sales removed, but revenue fell just shy. The Miami clothing company earned $11.3 million, or 74 cents per share, for the three months ended May 4.
May 23- Ralph Lauren Corp on Thursday reported a higher quarterly profit, helped by a jump in sales at its own stores and lower cotton costs. Ralph Lauren forecast companywide revenues will rise 4 percent to 7 percent in the new fiscal year. At Ralph Lauren's own stores open at least a year, which generate about half of sales, revenue was up 7 percent.
The retailer, known for denim, posted earnings of $37.6 million, or 78 cents per share. That compares with $37.8 million, or 79 cents per share, a year ago. The Buckle Inc., based in Kearney, Neb., had 443 stores in 43 states at the first quarter's end.
May 23- Signet Jewelers Ltd reported higher first-quarter sales and profits on Thursday, lifted by brisk business at its mid-priced Kay Jewelers chain at Valentine's Day and leading up to Mother's Day.
*Earnings of C $1.90 per share vs analysts' forecast of C $1.91. TORONTO, May 23- Toronto-Dominion Bank reported a 2 percent increase in quarterly earnings, driven by stronger trading-related revenue and higher income from its U.S. retail banking unit.
*Jeering protesters gather outside AGM venue. FRANKFURT, May 23- Deutsche Bank's bosses tried to convince sceptical shareholders at a lively annual meeting on Thursday that the bank was on the right track again after facing a host of legal problems.
TORONTO, May 23- Toronto-Dominion Bank's quarterly profit rose 2 percent, driven by stronger wholesale banking income, the bank said on Thursday. The bank, Canada's second-largest, said it had earned a net C $1.72 billion, or C1.78 a share, in the second quarter ended April 30. That compared with a year-earlier profit of C $1.69 billion, or C $1.78 a share.
May 22- Mitsubishi Motors Corp is taking steps toward resuming dividend payments after nearly a decade-long turnaround bankrolled by other Mitsubishi group companies, according to people with direct knowledge of the plans.
LyondellBasell Industries NV said Wednesday that it will buy back shares, increase its dividend and update its board. LyondellBasell said that shareholders at the company's annual meeting approved a plan to repurchase up to 10 percent of the company's outstanding stock.
COLUMBUS, Ohio-- L Brands Inc., which owns stores including Victoria's Secret and Bath and Body Works, reported Wednesday that its fiscal first-quarter net income increased 14 percent and nudged up its outlook for the year. The company, which was formerly known as Limited Brands, earned $142.5 million, or 48 cents per share, for the quarter that ended May 4.