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Article: Virginia's Heilig-Meyers Co. Profit Rises from Year Ago.(Originated from Richmond Times-Dispatch, Va.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 18, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec. 18--Profit rose 7 percent in the third quarter compared with a year ago at home furnishings giant Heilig-Meyers Co., marking a reversal in trends of the past five quarters.
The last time Heilig-Meyers earned more during a quarter than it did in the year-earlier period was in the first quarter of 1995.
The Richmond-based retailer said it was able to earn slightly more for the quarter ended Nov. 30 than it did a year ago because it placed tighter controls on expenses and had more effective sale promotions.
Also, analysts said, the chain's profit level was facing easier comparisons from a year ago.
"Heilig-Meyers ...