Washington, DC, July 12--After-tax profits of U.S. retail corporations with assets of $50 million and over totaled $11.4 billion in the third quarter 2004, down $1.6 billion from the preceding quarter but up $1.8 billion from the same quarter a year ago, the Commerce Department's Census Bureau reported.
Sales in the third quarter 2004, at $406.2 billion, were up $7.3 billion or 1.8 percent from the $398.9 billion of last quarter, and up $26.4 billion or 6.9 percent from the third quarter of 2003. These data are not adjusted for seasonality.
After-tax profits for these corporations averaged 2.8 cents per dollar of sales for the third quarter of 2004, down 0.5 cents from the 3.3 cents of the preceding quarter and up 0.3 cents from the 2.5 cents recorded in the third quarter of 2003.
The annual rate of after-tax profits on stockholders' equity in the third quarter of 2004 was 14.3 percent, down 2.6 percent from the 16.9 percent of the second quarter of 2004 and up 1.2 percentfrom the 13.1 percent of the third quarter of 2003.
