Business

Business briefs

Grand opening for nonprofit salvage store

OLYMPIA - Olympia Salvage's new retail store has its grand opening at 9 a.m. to 5 p.m. today at 415 Olympia Ave. N.E., the nonprofit salvage business announced Friday.

Olympia Salvage specializes in the deconstruction of buildings, and then uses those reclaimed materials, such as lumber, to sell at its 18,000-square-foot store.

The store's regular hours are 9 a.m. to 5 p.m., Wednesday through Sunday. The nonprofit business also accepts building material donations during store hours.

Earnings


Winnebago reports fall in third quarter profits

DES MOINES, Iowa - Motor home manufacturer Winnebago Industries Inc. reported Friday its earnings fell 14.4 percent in the third quarter as higher materials and labor costs hurt its profit margins.

Winnebago earned $11.3 million, or 35 cents a share, in the three months ended May 26 versus $13.2 million, or 40 cents a share, a year ago.

Sales rose 5.2 percent to $231.7 million from $220.3 million a year ago.

Analysts polled by Thomson Financial expected 49 cents a share on sales of $245.5 million.

The company said customers have been buying lower margin motor homes in recent months. It also incurred higher expenses of about $1 million from moving its dealer days event to the third quarter from the fourth quarter and about $900,000 for bonuses to executives.

Technology


Exclusive rollout of Apple's new iPhone

SAN ANTONIO - Customers clamoring to get their hands on Apple Inc.'s highly anticipated iPhone better make sure they're at the right store.

The combination cell phone, media player and wireless Web device will only be sold at stores owned by Apple Inc. and AT&T Inc., which has an exclusive deal to offer service for the device when it's launched June 29. It will also be available at launch on Apple's Web site.

The device goes on sale at 6 p.m. local time in each U.S. market.

AT&T spokesman Fletcher Cook said the limited availability will only be for the initial launch. Later, it will be sold on AT&T's Web site and through other outlets.

Acquisitions


Pearson reportedly vying to buy Dow Jones

NEW YORK - Pearson PLC, publisher of the Financial Times, is trying to rally partners for a possible bid to rival Rupert Murdoch's $5 billion offer for Wall Street Journal publisher Dow Jones & Co., the Journal reported Friday.

Pearson, based in the United Kingdom, has approached media company Hearst Corp. as well as General Electric Co. about a possible joint offer, the Journal reported, citing unnamed people familiar with the matter.

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