Another Chinese Appliance Retailer Warns Of Profit Drop

Total SA, Europe’s third-largest oil producer, said earnings fell 7 percent on losses from a cancelled Canadian oil sands project and lower output. Profit excluding changes in inventories fell to 2.9-billion euros (US$3.8-billion) in the first quarter from 3.1-billion euros a year earlier, the Paris-based company said today in a statement. That’s in line with the 2.92 billion-euro average estimate of 14 analysts surveyed by Bloomberg.

Hong Kong -listed Gome Electrical Appliance, whose main owner is jailed Chinese billionaire Wong Kwong Yu, plunged by 21% today after announcing worse-than-expected earnings results. The country's second-biggest electronics retailer said yesterday net profit fell by 6% last year to $292 million; its net profit margin shrank to 3.08% from 3.85% amid rising costs.?? Wong, ...

TORONTO, Ontario — Fairfax Financial Holdings Ltd. (TSX:FFH) says it has returned to profitability in 2012 after the “catastrophe” of losses it endured a year earlier. The Toronto company, which reports in U.S. dollars, said part of the strength came from fourth-quarter earnings attributable to shareholders which were US$404.1-million, or US$18.90 per share, an improvement over a loss of US$771.5-million, or US$38.47 a year earlier.

Haier Group's president said the Chinese appliance maker started cooperating with General Electric last year to sell and distribute GE household appliances in rural China.

Forcasters p

Zacks.com submits: Regis Corp. (RGS), which owns, operates and franchises hair and retail product salons worldwide, posted fourth quarter and fiscal 2010 results on August 26, 2010. The company’s adjusted earnings for fourth quarter missed the Zacks Consensus Estimate, but reported profit as compared with a loss in the prior-year quarter. Results reflect the benefits of cost-containment measures and improved gross margin.

By ELAINE KURTENBACH 2010-09-28T05:06:24Z SHANGHAI (AP) -- Chinese tycoon Huang Guangyu built Gome Electrical Appliances, one of the country's largest chain of appliance shops from scratch. Now, he's trying to regain control over his business empire - from prison....

[AP] - Chinese tycoon Huang Guangyu built Gome Electrical Appliances, one of the country's largest chain of appliance shops from scratch. Now, he's trying to regain control over his business empire -- from prison.