Originally created 05/12/05

Business briefs



AROUND TOWN

Sandwich City may open in two weeks

Sandwich City , the popular lunchtime eatery at 944 Ellis St., is scheduled to reopen within the next two weeks, owner Jack Connell said.

The business was forced to close three months ago after serious structural problems were discovered in its downtown building.

A new wall has been put up and a new ventilation system has been installed, Mr. Connell said.

Employees will be back at the eatery this week to prepare for its opening.

BRIEFLY

Federated profits exceed forecasts

cincinnati - federated department stores inc. said wednesday its first-quarter profit grew 27 percent, topping wall street estimates and giving the retailer encouraging news as it proceeds with its takeover of may department stores inc.

the owner of macy's said it made $123 million, or 71 cents per share, in the three months that ended april 30, compared with $97 million, or 53 cents a share, a year ago.

UPS says profits will hit projection

atlanta - ups inc., the world's largest shipping carrier, reiterated its profit growth guidance for the year but said total volume growth for the second quarter is ahead of earlier projections.

executives said wednesday that they expect full-year profit growth to be in the range of 16 percent to 20 percent higher than the adjusted $2.90 a share reported for 2004.

Warner Music IPO hears sour note

NEW YORK - Warner Music Group Corp. saw its stock price fall Wednesday, its first day of trading on the New York Stock Exchange.

Trading under the symbol WMG, the stock closed at $16.40. The company had already reduced its offering price from an expected $22 to $24 per share to $17 late Tuesday after it became clear the market was not responding to the higher price.

ONLINE

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REACH US

Contact Business Editor Damon Cline at: (706) 823-3486 or damon.cline@augustachronicle.com.