TD Bank (NYSE:TD) announced a profit decline for the fiscal third quarter.
Tough economic conditions led to an 8.5 percent slide in earnings for the Toronto based bank. The company says it earned $834 million 92 cents per share.
Allowing for adjustments, the bank earned $1.18 billion or $1.34 per share.
Shares are trading higher this morning by more than two and a half percent.
Onto the retail sector - Fred's (NASDAQ:FRED) announced a second-quarter profit spike.
The discount store said cutting operational expenses helped offset a sales decline. The company earned $4.2 million or 11 cents per share, up from 3 cents per share a year earlier. Excluding one-time items, the company earned 13 cents per share, matching analysts estimates. Sales dipped 3 percent to $432.2 million. Same-store sales declined 1.3 percent.
Fred's shares are down about three quarters of a percent.
Shoe Carnival (NASDAQ:SCVL) posted a one percent profit jump for the second-quarter. The company earned $982,000 or 8 cents per share, relatively flat with earnings a year ago. Sales dropped 4 percent to $152.8 million, with same-store sales falling 6.4 percent. The company also plans to open 16 new stores and close eight stores in fiscal 2009.
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