Tyson reports third-quarter profits

Just a week after Tyson Foods Inc. said it was adjusting its financial outlook for the year because of tariffs and volatility in commodity markets, the company reported that its third-quarter profit rose sharply from a year ago.

According to The Wall Street Journal, earnings for the food company, parent of Portland’s Tyson Mexican Original, rose 21 percent to $541 million, or $1.47 a share, up from $447 million or $1.21 a share.

Net sales were $10.05 billion, up 2 percent from $9.85 billion. Sales volumes rose for the company’s beef and prepared food segments, but fell in its pork and chicken segments, The Journal reported.

The drop in pork sales volume was “a result of balancing our supply with customer demand during a period of margin compression,” Tyson said.

Patience asked

Nearly full employment is having an impact on consistent newspaper delivery across the country, and The Commercial Review is no exception, publisher Jack Ronald said Friday.

“We’re always on the lookout for good dependable delivery people and have some great carriers and motor route operators,” Ronald said. “But turnover has been an issue, and that can create some headaches.”

Delivery during training or by substitutes leads to some inconsistency, he said.

“We’re not alone in this. Newspapers from coast to coast are dealing with the same problem. We apologize for the inconvenience and hope our subscribers will be patient while we work our way through the current situation,” Ronald said.

Subscribers can always reach The CR’s website at thecr.com, using their account number as the login and their last name in all capital letters as the password. Those who need help with logging in can call the newspaper at (260) 726-8141.

New brand

Adweek and Business of Fashion report that Walmart’s e-commerce strategy is shifting from acquiring brands that appeal to millennials to creating an in-house brand targeting what is known as Gen Z.

Business of Fashion said Walmart is developing its own in-house basics online-only brand that emulates Everlane, but at a lower price point. 

Everlane, which has stores in San Francisco and New York, is known for basic, mid-end clothing, like T-shirts starting at $15 and $100 cashmere sweaters, a higher price range than retailers like Target. 

Adweek said Everlane’s business model is primarily built on “transparency” and letting customers know where its products are coming from, how they are made and why they’re priced the way they are.

Near OK

The acquisition of Aetna Insurance by CVS Health is nearing approval by federal regulators, Forbes reported this week.

The merger has been opposed by a number of consumer groups as well as by the American Medical Association.

It’s still possible that CVS will have to divest itself of part of its business, the company’s executives acknowledged.

“When we announced the transaction last December, we contemplated a range of possibilities in limited (Medicare part D) prescription drug plan area in which both CVS and Aetna offer plans, and we determined the impact of any divestitures would not be material to the deal model,” CVS Health CEO Larry Merlo was quoted as telling analysts Wednesday.

Profit up

Motherson Sumi Systems Ltd., parent company of MSSL Wiring Systems of Portland, reported net profit up about 59 percent in the first quarter.

But that still fell short of expectations of some market analysts, Reuters reported.

Net profit was 4.43 billion rupees ($64.44 million) in the quarter ended June 30, compared with a profit of 2.78 billion rupees a year earlier.

Reuters said analysts, on average, had expected a net profit of 5.43 billion rupees.

Total revenue from operations grew 11 percent to 147.75 billion rupees. 

Decatur deal

Kelley Automotive Group of Fort Wayne has acquired Chrysler, Dodge, Jeep and Ram franchises from Shifferly Dodge in Decatur, it was announced this week.

The company already operates Tom Kelley Chevrolet Buick and Tom Kelley Ford in Decatur.

Shifferly will remain in business, selling and repairing used cars on its current lot at 704 N. 13th St., Decatur, The Journal-Gazette reported.

The Fort Wayne newspaper said Tom Kelley expects to create about 25 new jobs in Decatur next year when the company opens a new Chrysler showroom in October 2019.

Kelley's father, the late businessman and community leader Jim Kelley, was born in Decatur, The Journal-Gazette noted.