Crown Equity Holdings Inc (OTCBB:CRWE) announced that it has launched its crwenewswire.fr website to provide news in France’s native language. Crown Equity Holdings Inc. had previously launched its German website crwenewswire.de and is launching its Canadian website crwenewswire.ca shortly.
“The new website is one step in many towards the company goal of expanding its footprint internationally, ” commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. “Our goal for 2010 is to have all CRWE’s clients’ press releases, articles and news content published in every major financial country’s native language, as well as within cities of every state of our country,” stated Mr. Bosket.
Crown Equity Holdings Inc. is a consulting organization which provides and assists small business owners with the knowledge required in taking their company public, and has re-focused its primary vision with its aligned group of independent website divisions to providing media advertising services, as a worldwide online media advertising publisher, dedicated to the distribution of quality branding information, as well as search engine optimization for its clients.
Fossil, Inc. (Nasdaq:FOSL) reports the resignation of Michael W. Barnes from his position as President, Chief Operating Officer and Director of the Company, effective November 30, 2010. Mr. Barnes has accepted the position of Chief Executive Officer of Signet Jewelers Limited.
Kosta Kartsotis, Chairman of the Board and Chief Executive Officer, stated, “Mike joined our Company in 1985 at the very beginning of its development. Over the past twenty-five years, Mike has made many significant contributions to the growth and success of FOSSIL. He assisted us as we expanded from a single, domestic watch brand to a global business operating across multiple product lines, distribution channels and geographies. His presence and leadership will be missed.”
Mr. Kartsotis added, “Mike has also played an integral role in helping us develop a strong, tenured leadership team with a depth of experience across our Company. This will enable us to transition Mike’s responsibilities within our organization and I am confident in our ability to perform this process seamlessly.”
Mr. Barnes commented, “I am pleased that Fossil is so well-positioned during this time. The Company is enjoying strong momentum and has significant and sustainable growth opportunities. FOSSIL also possesses a talented team and I look forward to watching the Company continue to execute its growth strategies in the near and long term.”
Fossil is a global design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s principal offerings include an extensive line of men’s and women’s fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, cold weather products, footwear, and apparel. In the watch and jewelry product category, the Company’s offerings include a diverse portfolio of globally recognized proprietary and licensed brand names under which its products are marketed. The Company’s extensive range of accessories products, brands, distribution channels and price points allows it to target style-conscious consumers across a wide age spectrum on a global basis. The Company’s products are sold to department stores, specialty retail stores, and specialty watch and jewelry stores in the U.S. and in over 100 countries worldwide through 23 company-owned foreign sales subsidiaries and a network of over 60 independent distributors. The Company also distributes its products in 354 company owned and operated retail stores and through international e-commerce websites and the Company’s U.S. e-commerce website at www.fossil.com, where certain product, press release and SEC filing information concerning the Company is also available.
Dollar Tree, Inc. (NASDAQ:DLTR), the nation’s leading operator of discount variety stores selling everything for $1 or less, reported its results for the quarter ended July 31, 2010. Consolidated net sales for the second quarter were $1.38 billion, a 12.7% increase compared to $1.22 billion reported for the quarter ended August 1, 2009. Comparable store sales increased 6.7%, on top of a 6.8% increase for the second quarter 2009.
Earnings per diluted share for the second quarter were $0.61, an increase of 45% compared to the $0.42 earnings per diluted share reported for the quarter ended August 1, 2009.
�Dollar Tree�s sales and earnings continued to expand in the second quarter,� President and CEO Bob Sasser said. �Sales were strong throughout the quarter, driven by increases in both traffic and average ticket. Customers are responding in record numbers to our outstanding values and fun shopping experience. Leading categories in the second quarter included food, health and beauty care products and party supplies. In addition, our seasonal sell-through was on plan and our inventory is clean heading into the Fall season.�
Operating margin increased 200 basis points for the quarter to 9.3%. The improvement was driven by a 60 basis point increase in gross margin and a 140 basis point reduction in S.G.&A. expenses.
Cash and investments at quarter-end totaled approximately $480 million, compared with $358 million at the end of the second quarter 2009. Year-to-date, the Company repurchased 5.6 million shares for $218.4 million, including a $200 million Accelerated Share Repurchase which was completed in early August. The Company has $542 million remaining on its share repurchase authorization, including the additional $500 million authorized by the Company�s Board of Directors in June 2010.
In addition, during the second quarter the Company executed a 3-for-2 stock split in the form of a 50% common stock dividend. All per-share data in this document reflect the impact of the stock split.
During the second quarter, Dollar Tree opened 56 stores, expanded or relocated 34 stores, and closed 5 stores. Retail selling square footage increased 6.8% compared to a year ago, to 33.6 million square feet.
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