ArcBest to report 4Q earnings today
Fort Smith-base ArcBest plans to release its fourth-quarter earnings today before the market opens.
Based on a consensus estimate of nine analysts, the trucking and logistics company is expected to post a profit of $2.53 per share, down from $2.79 cents per share a year ago, according to Yahoo Finance. A consensus of seven analysts estimates revenue for the period at $1.25 billion, up from $1.19 billion a year ago.
A conference call with company executives will be held today at 8:30 a.m. at (877) 231-8701. The call is also being webcast and can be accessed live on ArcBest's website at arcb.com.
A playback of the call will be available at (800) 633-8284 through March 15 with the conference ID of 22025410. A replay of the webcast can be accessed through the company website through March. 15.
Shares of ArcBest closed at $90.15, up $2.23, or a little more than 2%, in trading Thursday on the Nasdaq. Shares have traded as low as $65.16 and as high as $96.80 over the past year.
-- John Magsam
Walmart in Canada charges cart deposit
Walmart Inc.'s Canadian unit started charging customers a small deposit to use a shopping cart in some of its stores on Wednesday. Shoppers get their money back when they return the cart to the store, the retailer said.
Walmart spokesman Charles Crowson confirmed the move on Thursday. Earlier social media reports said shoppers had to pay to use the carts, but neglected to add that the money was only a deposit.
Deposits range from about 25 cents to $1, Crowson said.
"The program helps improve cart availability while cutting down on theft and damage," he said. Once the cart is returned to its proper space, such as a cart corral, the deposited currency will be returned to the customer.
Crowson said this is standard practice for discount grocers and retailers in Canada.
No similar move is planned for Walmart's U.S. stores, Crowson said.
Aldi, an international grocer with an increasing presence in the U.S., requires a 25-cent deposit to use its carts.
This saves customers money "because we don't have to hire extra staff to collect grocery carts," Aldi's website said.
-- Serenah McKay
State index climbs to 869.67, up 9.18
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Thursday at 869.67, up 9.18.
"Risk tolerance remains high as equities rallied for a second consecutive day while the S&P 500 Index achieved a 'golden cross' with the 50-day moving average breaking above the 200-day moving average confirming near term bullishness," said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.