OCR Text |
Show THE HERALD, Provo, Utah, Sunday, September 11, 26 Page 1988 Fred Meyer reports record income in quarterly report . PORTLAND, Ore. compared with the prior year's quarter based on 24,512,000 shares outstanding. Income from operations for the 1988 second quarter was $19.0 million, a 13.5 percent increase over the $16.8 million reported in the prior year's second quarter. Net sales for the quarter rose 12.3 percent to $472.5 million over the $420.7 million Fred outstanding, 36 cents for Meyer Inc. announced record Results for its 1988 second Quarter and first half ended ug. 13, 1988. I Net income for the 1988 Second quarter increased 20.3 percent to $10.6 million from 8.8 million reported a year ago. Net earnings per share rose 22.2 percent to 44 cents for the second quarter of 1988 based on 24,371,000 shares reported in the second quarter of last year. Comparable store sales increased 8.2 percent for the quarter. For the first half of 1988, net income increased 18.3 percent to $16.3 million from er. Also, additional sales from the new stores and smaller spe- over last year's first 1988 half. multi-departme- Frederick M. Stevens, chairman of the board and chief executive officer, said, "We are pleased with our record performance in the quarter, and we think it is noteworthy that comparative sales increases in existing stores were strong although many of them faced the new competition during the quart $13.8 million in 1987. Net sales rose 9.6 percent to $1,038.2 million over the $947.7 million reported for the 1987 year. Comparable store sales increased 5.0 percent in nt cialty stores that we've opened over the past year contributed to this increase. "Our proven combined food p and nonfood format of shoping and commitment to customer service are key factors to our success. "The 13.5 percent increase one-sto- from operations from quarter to quarter reflects reduced expenses generally related to the control of wage costs and the leverage of higher sales on occupancy costs. The increase was partially offset by lower gross margins, which have been slightly impacted by the entry of new food and nonfood competitors, primarily in the second quarter. in income Market Quotes Templeton Global NEW YORK (AP)-- f riday's closing NeV York Stock E&hange selected prices: Stock Last Chg AMR 46V4 v, Alrjtsn 34Vi AlCan 29V- 4- Vi AldSgnl 3- 3- V AlMsC to Alcoa 50 v, v, Arnax 21' AmHes 26 to V- 4- to AGyan AElPw 2- 7- V4 A!Jome79 Aiprtch 92to to AlntGr 64-- t to AT&T 8to Alftoco 724 Ariheus 31 to to v Armco 10 AttasCp 394 Avon 24 to to BeUAU71 BeJlSottto BAing 60 BojseC 43V- 4- Vt Borden S3 BrtstMy 44 BrltPt48 Bmwk BrlNth 66 to V4 Caterp 56 Chjnpln 32 Chevrn 43V 1 Chryslr22.. V4.. CdbaCl 41 26 43 Contel 35 CtData 23 CurtW 49V4 DanaCp 35 Deere 43 - o-i to V4 65l Disney DowCh 85 Dresr29 diipont Mto ERodk 44 to Eaton 76 to Exxon 45 FMC35 V4 Fiirchd 10 Fbitste 52 FordM MV4 FrtitMc 25V4 Vi GTE 42 V4 to Gannett 34V4IV4 GiCrp 21 GDyn 51 GenEI 42 GoMills 5- 0v4 GMot nGUIete 34 - Gdrich Goodyr Grace Gaeyh LaPac31 Option Income MDU 18 MartM 40V- 446 McDnl MoDnD 6McKes 34 3V4 Merck to 57 MMM 61 Mobil 42 Monsan 65 MonPw 35 V4 Nortrp 30 Norwst 34 to Nynex 64 V4 OcciPet 25 01in46to to 52 59 24 31 V4 t- o- Halbtn 2- 5- to HeclaM 14 HewlPk Hmstk 14t- oHwiweU 48l 612Vi ITTCp48 I4ahoF22 IdealB2V4 ISCO 2- 5-l IBM U42V4 PacEnt 44'. to PacGE 17 PacTel 29 Pacifcp 35 PanAm 2 Penney 48 PepsiCo 37V- 4Pfizer 53 PhelpD 37 PhilMr 9- 4-l PhilPet 16.. .. Pilsbry 3- 6Polaroid PopeTal 17 PortGC 21 Potltch 3- 1Primca 28 ProctG 78V4 PSvCol21 PugetP 18 Quantm 95 Questar 33 RJR Nb 5- 3RalsPur 7- 7- SCEcp 3- 2SaftKln 2- 6SFeSP 20 SaraLee 41 ScottP Sears 36 SierPac 22 SouthCo20 12.70 14.50 14.26 15.14 11.21 8.25 16.56 14.01 SHEARSON GROUP Bid Ask Growth Appreciation Fndmtl Value Global Managed Govt High Yield Managed Muni Precious Metal 14.73 29.56 6.41 23.99 12.84 18.87 15.67 17.45 36l SwBell 39 37 Syntex TRW 42 Tektrnx 22 Teldyn 332 Tennco 47 Texaco 45 Texlnst 2 40l Textrn 2- 4Tigerln 11.. .. Timkn 32 TodSh2 Transm 35 TriCon 21 Trinova 25 UAL Cp 91 USX 27 UCarb 23 UnElec 23 UnPac 5- 5Unisys UBrnd 1- 6- 32l USWest 5- 5- Univar 19 Unocal 35 Varian 28 WarnrL 73 WstgE Weyer 51 24 Wolwth 50 9- Xerox 54 ZenithE 20 1" H4i V i Big Tires Beehive Boardroom Centurian Crested Corp. Cornerstone Dallas Lingerie Dalt Corp. Digilog EwingOil Four Nines Gold Galtech Gold Standard Grand Valley Gas Harrier Iomega - Mall Iffi f Larson Davis Lotus Merlin Mines Novell Northhampton Phaser Purple Mtn. Pursuit Prime Resources Ramex Sage Analytics Seagate Technology Sierra Solids Silver King Tekna-To- ol Utah Med U.S. Energy Wicat 73.00-76.0- 700-80- steers no quote; steers no quote; slaughter 60.00; feeder lambs S4 P Index (.1) INX.Z 265.88 S, & P Index OEX 253.06 (1.23) ' lambs Har-ma- n y 100-12- 0, The bullion price for silver earlier in London was $6.6325, up $0.0625. Engelhard silver $6,555, off 0.015, fabricated $7,014, off 0.016. NY Comex silver spot month Thursday $6,612, up 0.063. - LIVESTOCK AUCTION Burley Livestock Commission: utility and commercial cows heavy feeder steers light feeder steers 73.0045.50; stocker steers HolHolstein feeder steers stein dairy heifers no quote; baby dairy Futures trading on the Chicago Mercantile Exchange Friday: OpenHighLowSettle Chg. CHICAGO (AP) 88.50-114.0- 70.00-85.0- calves fat lambs 75.00-150.0- 0; 56.00-58.0- CATTLE 0; utility commercial bulls heavy feeder heifers light feeder heifers 72.005.00; stocker heifers stock cows fresh heifers no quote; fat hogs feeder lambs no quote. Remarks: cows steady, feeders weaker. 55.00-62.0- 0; 60.00-73.5- 40,000 Oct Bid 2.56 .12 .37 1.06 .05 2.00 .02 .62 5.25 .50 .015 .31 n.b. 4.12 .18 8.12 3.31 .13 7.00 17.25 1.00 29.25 .10 .04 .25 1.75 .43 .24 3.75 9.50 .62 3.43 .06 2.31 ' lbs.; cents per lb. 70.60 70.65 69.52 71.85 71.85 70.90 72.95 72.90 72.05 74.35 74.40 73.60 73.60 73.60 72.80 70.85 71.00 70.25 71.00 71.00 70.50 70.75 70.75 70.10 Dec Feb Apr Jun 485.00-570.0- Aug Sep Oct 2.44 .06 .34 .87 .43 1.00 .05 .37 5.00 6.50 2.62 Provided to The Daily Herald By Covey & Company OSEIIBG - Idaho Idaho (AP) Farm Bureau Intermountain grain and livestock report Friday: White wheat 3.69 POCATELLO (steady); barley 5.45 (steady); 14 percent spring 4.38 (down 2); 11 percent winter 3.75 (down 1). OGDEN White wheat 3.90 (steady); barley 5.60 (steady); 14 percent spring no quote; 11 percent winter POCATELLO, - off Frankfurt fixing is $429.12, up $0.97. Zurich late afternoon $428.30, up $0.20, asked. Handy & Harman is $429.40, up $1.15. Engelhard is $430.78, up $1.15. Engelhard fabricated is $452.32, up $428.80 30,000 -1- -.- 95 -.- 92 -.- 80 -.- 65 -.-75 -.- 87 ...... lbs.; cents per lb. 38.20 38.45 37.77 37.92 39.90 40.10 39.15 39.55 42.60 42.62 42.20 42.35 42.50 42.55 42.05 42.12 47.35 47.50 47.10 47.10 47.62 48.00 47.60 47.80 47.20 47.20 46.55 46.60 Aug Oct 44.95 44.97 44.55 44.60 Thu.'s sales 7,192. Thu.'s open int 32,153, up 194. Dec Feb Apr Jun Jul - NEW YORK (AP) Spot nonferrous metal prices Friday. Aluminum $1.1950 per pound, NY Comex spot month closed Thu. cents a pound, Copper - $1.104-$1.1- 1 U.S. destinations. Copper - $102.00 per pound, NY Comex spot month Thu. Lead - 0 cents a pound. Zinc - 0 cents a pound, delivered. Tin - $4.6212 Metals Week composite price per lb.) Mercury - $355.00360.00 per 76 lb flask, New York. 0 Platinum troy oz., N.Y. (contract). Platinum - $537.00 N.Y. Merc spot per troy oz. Thu. YORK (AP) NEW -.- 93 -.- 90 -.- 82 -.- 83 -.- 60 -.- 50 -.- 65 80.75 80.10 81.50 81.80 81.10 80.70 79.15 Oct spot month Thu. -c- .30 -1- .07 467. 79.65 79.77 79.05 79.25 Oct Nov 80.45 80.70 81.15 81.17 Jan 80.70 80.77 Mar 80.20 80.40 Apr 78.85 78.85 May 78.80 Aug Thu. 's sales 3,344. Thu.'s open int 21,040, up 379. HOGS $1.34. $1.21. NY Comex gold $428.80, up $0.70. 80.75 80.10 81.50 81.75 81.00 80.50 79.00 Sep $0.65. London afternoon fixing is $429.40, up $1.15. $426.81 69.60 70.95 72.10 73.65 72.85 70.25 70.50 70.10 Thu.'s sales 18,347. Thu.'s open int 86,464, up FEEDER CATTLE 44,000 lbs.; cents per lb. By The Associated Press Selected world gold prices Friday. London morning fixing is $428.90, up Paris afternoon fixing 90-d- Colombia Denmark ECU Finland France 67.75-74.7- Greece Hong Kong Indnsia Ireland Israel Italy Japan 30-d- y 60-d- y fwd fwd 1.6866 1.6816 .8080 .8069 .8055 .8042 .0041 .0032 .1471 .4305 .001904 1.1235 .2281 .1592 .0066 .1281 .0692 .000589 1.4490 .6131 .000725 007496 007510 007538 007560 1.6915 1.6865 .8064 .8052 .8041 .8027 .0041 .0032 .1409 7.1068 7.0940 .4305 2.3129 2.3129 .001904 525.00 525.00 .8905 1.1235 .8905 .2281 4.3835 4.3835 .1592 6.2825 6.2800 .0066 149.40 149.40 .1281 7.8080 7.8070 .0692 14.450 14.450 .000589 1695.00 1695.00 1.4490 .6901 .6901 .6131 1.6310 1.6310 .000724 1380.00 1381.50 .007493 133.40 133.45 .007513 133.05 133.10 .007537 132.65 132.68 .007558 132.26 132.30 Foreign 38-4- 34 49' 50'4 29 29 20 AT&T 25V 19' 43 Boise Case. HMs Commodore Intl. 43 Mi Eastman Kodak 42 v, Gen. Tel. & Elec. 451 Hercules Inc. 24 'i Holiday Inns. Hosp. Corp. of America 34 112 Intl. Bus. Mach. 19 Kansas Gas & Electric 14 Fred Meyer Marriott 27'. 25l4 Merrill Lynch 46 McDonalds 13 Middle South Util. 18 Ohio Edison 25 Occidental Pet. 22 Pinnacle West (AZP) Pub. Svc. of Colo. 214 Pub. Serv N. Mex 14. V4 Savin Bus. Mach. Shearson Lehman Hutton 22 64 Squibb 37 Svntex 8wj Structured developmental PRACTICE Australia Austria llusc Chaperoned Brazil Britain 30-d- fwd IN Margrll Franklin irlUMiasiiNUliffleM Simumm liatercare 932 22 65 37V4 teleflex 27V4 27 USX 274 274 Utah P&L Wash. Wat & Pwr CC Inc Oppor Tr 30 30 27 7 264 74 OVER THE COUNTER Bid 404 Apple Computer 5 Con Cap Inc. Tr. 4 Con Cap Spcl Duriron 204 First Security 244 3 316 Iomega Novell 29 Prud. Fed. S&L Sage Analytics Valley Nat Corp Wicat Zions First Nat'l. 10 3 32 2 916 234 Time available for new & emergency patients Orthodontic and childrens dentistry Treatment of gum problems Treatment of bite related headaches Evenings & Saturdays by appointment Spanish Spoken C 1986 Cellular One TESTING. 374-824- 4 B-B-- 21 25 3 516 29U 104 34 2 24 14.23 23.11 12.81 9.54 14.64 "v ' "' - 669 18.20 10.54 21.95 18.36 17.09 22.42 19.58 20.91 15.09 16.00 ... ') MONEY BACK GUARANTEE. Now you can test a Cellular One phone with absolutely no obligation. Simply purchase the Uniden CP 1100 cellular phone before September 30th. If you're not 100 satisfied, bring it back within 30 days for a full refund. FREE AIR TIME. test would be complete without a comprehensive oral examination. So, during No Its the one-of-a-ki- nd ... Sbank v csssB BBBB FREE! 4 and per check charges. And if that isn't good enough, they even pay for your first order of 200 and you can use any Plus System checks 32' 13.02 21.15 11.72 9.54 6.69 18.20 10.54 20.08 16.80 15.94 20.51 17.92 19.13 13.81 f H - checking plan that's totally free with a minimum balance of just S100. Imagine, $100 frees you from checking fees 4 MUTUAL FUNDS Am Cap Comst. Am Cap Pace FD Am Cab Venture Eaton Vance M. Keystone 4 Keystone 2 Keystone Tax E. Oppen. Direct. Oppen. Special Oppen. High Y. Pioneer Fund Pioneer II Putnam Voyager Templeton Grwth Templeton World ..'it Key Bank. 5' Ask B3B0 . Some of the best things in life are free. That includes Value Checking from Ask 228-838- 1 Practice located at 777 N. 500 W., Provo, 201 Free Checking Is Priceless. 404 225-836- 8 qualifications provided) ONE. TWO. Use Your Key: Bid & (references ASSOCIATION WITH 25 46 18. 'Quiet time .0701 .0701 14.1800 14.1800 .8055 .8050 1.2410 1.2422 .0770 .0770 13.00 13.00 .0258 .0259 38.77 38.67 .0260 .0260 38.46 38.46 .0034 .0034 290.00 290.00 1.6970 1.7020 .5917 .5875 1.6925 1.6975 .5908 .5891 14 25 22 21 14 Qualified staff field trips Ex- - 284 134 EiceDent nutritional meals and Freeplay DR. D. KEITH WHATCOTT I 35i4 114 19 CENTER DR. ERIC G. VOGEL WISHES TO ANNOUNCE THE OPENING OF HIS FAMILY DENTAL I 24"-- & DEVELOPMENT 'Science curhculuni Arts and crafts 11 454 y Taiwan Turkey U.A.E. ODen wear round. Monday thru Friday. 6:30 a.m. 6:00 p.m. Ages 6 weeks to 12 years. Children are closely supervised. No area of play & learning is left unattended while in use by the children. 25h 434 42Mi fwd fwd fwd 30-d60-d- 1143 So. Geneva Rd., Orem . 43' Portugal Saudi Arab Singapore So. Korea So. Africa Spain Sweden Switzerlnd 2.6817 2.6817 .37290 .37290 3.5088 3.5088 .28500 .28500 .00250 .00250 400.00 400.00 .000437 .000436 2290.00 2290.00 .4796 .4808 2.0850 2.0810 .6220 1.6130 1.6130 .6220 6.8860 6.8900 .1451 .1452 18.40 18.40 .0543 .0543 .0033 .0033 300.00 300.00 .0474 .0474 21.1000 21.1000 .006540 006540 152.90 152.90 2666 .2666 3.7500 3.7500 2.0390 2.0390 .4904 .4904 .001392 001392 718.20 718.20 .4161 .4161 2.4030 2.4030 123.35 123.35 .008107 008107 .1561 .1562 6.4050 6.4040 .6394 .6416 1.5640 1.5585 .6419 .6442 1.5578 1.5522 .6445 .6474 1.5515 1.5400 .6471 .6494 1.5455 1.5225 25.48 28.48 .0392 .0392 .000641 000641 1558.04 1558.04 .2723 .2723 3.6730 3.6730 .0030 .0030 330.00 330.00 Fgn. currency Dollar in in dollars fgn. currency Fri. Thu. Fri. Thu. $530.00-$532.0- Telephone 33'. Nethrlnds N. Zealand Norway Pakistan PRE SCHOOL NEW YORK STOCK EXCHANGE Open Close Albertsons American Stores Am. Exp. Avnet Jordan Kuwait Lebanon 0AX CREST CHILD CARE nim.ciii.ii7t-iM- -.- 18 -.- 25 -.- 15 -.- 25 -.- 05 -.- 15 -.- 17 -.- 32 .5912 .5929 1.2400 1.2393 1.2418 1.2415 1.2437 1.2435 1.2458 245.91 245.91 314.20 314.20 .5929 .5946 1.2375 hange, New York prices, Rates for trades of $1 million 69-7- White wheat 4.36 PORTLAND (steady); barley 112.00 a ton (down 2); 14 percent spring 5.01 (down 4); 11 percent winter 4.43 (down 1). CALDWELL White wheat 6.43 cwt (steady); barley 5.75 (steady); LA barley (no quote). Industrials 2068.81 (5.69) Transportation 873.80 (7.16) NEW YORK (AP) Handy & silver Friday $6,490, off 0.070. feeder Holstein slaughter holstein 0; fwd 9&day fwd Canada fwd fwd fwd y - 69.0-71.5- 0; 68.00-70.5- 0; 0, 3.91 (down 1). DOW JONES AVERAGES VOLUME 141,540,000 1075-125- 0, slaughter heifers feeder steers 775, 79.50; feeder heifers J Asked .01 .18 4.06 .14 8.00 3.18 .08 4.00 16.75 .75 29.00 .05 .01 .06 1.25 .31 .18 3.62 9.37 .50 3.37 .03 2.25 6.25 2.43 slaughter steers mm- Report: 39.50-41.4- 5; OTC STOCKMARKET O and Feedlot 77.50-96.5- Provided to The Daily Herald By Shearson Lehman Hutton An American Express Company I Idaho Range 48.00-52.0- 13.99 28.08 6.09 22.79 12.20 17.93 14.39 16.58 Karalntl WUnion 2 IrttPap 45 Jjtiver 26 K,mart 34 Kaisr 18 Litton 73to Lfxhd3- 12.70 14.50 14.26 15.14 11.21 8.25 16.56 14.01 Equity Growth Equity Plus Intl. Equity Intermdt Govt LongTerm Govt Tax Exempt High Inc. Bond V4 58l 47l NCR NWA Nil 1- 6NtSemi 9 Navistr 5 NflkSo 28 ReyMU 51 Rockwl 2- 0RoylD 10- 7- to 942 Digital 0- 411 CascNG 14 CastlCk 26V4 Cd)gPal43tCqJGas W- SHEARSON SPECIAL PORTFOLIOS Ask Bid OutbdM 30 BakrHu 13t- oBnkAml434 .. .. Beams 32V Comsat ConsEd Loews 73 LnStar 3- - 40.56 cash machine in the USA as often as you like, free. Checking is priceless at Key Bank Check it out. your evaluation period, you'll receive 480 minutes of FREE air time. It's uncorr, ion to take a test that's such a pleasure to grade. And it's never been easier (or more affordable) to experience the increased productivity and convenience of Cellular One service. FREE CORDLESS PHONE. For taking this test, you'll also receive a Uniden cordless phone absolutely FREE (an $80 value). But hurry. You must begin your examination before September 30th to receive this special offer. SALTLAKE OGDEN PROVO Cellular 487-CEL- L 621-CEL- L "iii-i- j One 377-CEL- L WHEN YOU'RE DRIVEN TO SUCCESS. Member ID1C Fm air Umt during trial period only. Fret cordless phone contingent upon contmutd Cellular One sen ire. or snicks |