Tag - Rvi

With trading days left in 2010 dwindling many investors are looking through their portfolio and trying to decide what should stay, what should go, and where to increase exposure.

True, the major stock indexes are up for the year: The Dow Jones industrial average has rebounded 10 percent in 2010, and the Standard & Poor's 500 has regained about 11 percent.

Retail Ventures, Inc. (NYSE: RVI) shares are falling despite the retail store operator’s announcement after Thursday’s close that it swung to a third-quarter profit of $68.2 million, or $1.20 per share, from a loss of $34.1 million, or $0.72 per share, a year earlier.

For the quarter, the Columbus, Ohio-based company’s non-GAAP net loss was $23.1 million, or $0.48 per share, compared to a loss of $3.5 million, or $0.07 per share, a year earlier.

On an unaudited basis, Retail Ventures’ third-quarter sales rose slightly at $787.8 million, from $787.6 million a year earlier. The firm’s quarterly gross profit declined to $308.8 million, from $315.5 million during the same period of 2006. Same-store sales also decreased 7.3% during the quarter.

In morning trading, RVI shares are down 18.45%, or $1.21, at $5.35. Over the last 52 weeks, shares have ranged from $5.33 to $23.30.

The Russell 2000 (NYSE: IWM) is posting losses on news that U.S. consumer prices rose more than expected in November.
 
At 10:47 a.m. ET, the small-cap index had dropped 4.08 points, or 0.53%, to 765.38. The Dow Jones Industrial Average (INDU) was off 50.56 points, or 0.37%, to 13,467.40.

High energy costs led to a jump in inflation in November, according to a report by the U.S. Labor Department before the start of trading.

The consumer price index increased 0.8% in November, above economists’ projected rise of 0.6%. That’s the biggest increase in over two years. Prices increased across the board, with energy leading the way with a 5.7% climb.

Consumer prices added 0.3% in October. Prices are up 4.3% from November 2006.

The core consumer price index, which factors out the cost of food and energy, gained 0.3%. The forecast called for an increase of 0.2%.

Core prices are up 2.3% from November 2006, while the U.S. Federal Reserve has said that it prefers core inflation to stay in the 1% to 2% range.