Bad Credit Suisse, Dick’s Not Feeling Sporty and Home Depot Has Room For Improvement

Plea…pretty pretty plea!!!

Image courtesy of digitalart/

Image courtesy of digitalart/

It’s official. Credit Suisse (CS) entered a guilty plea for assisting – or perhaps the word is abetting? – Americans with avoiding paying Uncle Sam. Or as the Feds call it, Tax Evasion. The Swiss bank has been engaged in this troublesome little activity through 2009. Now it has to fork over $2.6 billion to the Federal Government and New York Financial regulators. One glaring omission from this long-awaited plea agreement was a list of names of the alleged evaders. But no dice even though their fellow Swiss banking institution, UBS, (UBS), did have to give up a list of names of their alleged perps/client list when it pled its guilt back in 2009. It also had to pay a fine of over $780 million in penalties (but really it was handing over that list of names that put a crimp in their operation). Credit Suisse now holds the dubious distinction of being the largest financial institution in twenty years to enter a guilty plea. Classy.

Not exactly par for the course…

Image courtesy of Gualberto107/

Image courtesy of Gualberto107/

Dick’s Sporting Goods (DKS) wasn’t playing around when they announced their earnings today. Dick’s, which also owns Golf Galaxy blamed its golf and hunting sales that threw its shares down almost 15%. Since the start of the year Dick’s watched the value of its shares fall 23%. And while they were hoping for their value to bounce back the opposite happened and they kept falling and falling and… While it earned $1.44 billion in sales which was an almost 8% jump over the same period last year, it still missed the Street’s mark of $1.46 billion. Dick’s currently has 566 stores in the US.

Never stop improving…

Image courtesy of Vichaya Kiatying-Angsulee/

Image courtesy of Vichaya Kiatying-Angsulee/

Home Depot (HD) sales didn’t exactly nail Wall Street’s expectations but don’t expect anyone to get too worked up over it. Analysts predicted $19.97 billion. But oh well. The home  improvement outfitter only delivered $19.69 billion. Which, by the way was almost a 3% increase over last year. Naturally, it wouldn’t feel right if the word “winter” wasn’t mentioned in the context of how it affected their fiscal quarter and was responsible for its missed expectations. So for good measure I’ll say it. Winter. There. That particularly nasty little season that, like a very rude guest, refused to leave quietly, apparently affected the start of the spring selling season. But the Atlanta based retailer called its May sales “robust” which, in my most humble opinion is quite a fitting adjective for a company like Home Depot.

One response to “Bad Credit Suisse, Dick’s Not Feeling Sporty and Home Depot Has Room For Improvement

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