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Business news briefs — Oct. 28

LOCAL BUSINESS

Myers sets dividend

Akron-based Myers Industries Inc. declared a regular quarterly dividend of 9 cents a share, payable Jan. 3, to shareholders of record Nov. 29.

Accounting firms ranked

Bruner-Cox LLP is the largest Akron-based accounting firm in 2013 according to a compilation by Crain’s Cleveland Business.

The listing of 24 firms in the Northeast Ohio region was based on the number of local CPAs at each company as of Aug. 31. Bruner-Cox was ranked No. 12 in the region, listed with 50 CPAs. Other Akron-based firms who made the list were: No. 17, Bober, Markey, Fedorovich & Co. (38 CPAs); No. 19, BCG & Co. (33), and No. 21, Apple Growth Partners (30).

Full-time employment totals at the Akron firms were: Bruner-Cox, 102; Bober, Markey, 75; BCG, 89, and Apple, 67.

The largest firm in the region was Cleveland-based Ernst & Young LLP, with 266 CPAs and 1,313 employees.

Buehler’s plans ceremony

The former Portage Lakes IGA will celebrate its grand opening as a Buehler’s on Wednesday.

The store at 4045 S. Main St. in Akron was the Wooster-based company’s first grocery store acquisition since 1969 and its first in Summit County. The family-owned business has stores throughout Ohio, including Medina, Wayne and Stark counties.

The first 200 customers Wednesday at 8 a.m. will receive a coupon for a free gallon of Buehler’s milk.

The store has new paint and decor inside and out, a new entrance, and expanded departments including fresh produce, bakery, deli and chef-prepared foods. Beer and wine have also been expanded.

TIRE & RUBBER

Michelin sales drop

Europe’s largest tire maker Michelin said foreign currency exchange shifts in the U.S., Japan and South America more than offset global delivery gains causing it to review spending plans after third-quarter revenue dropped.

Sales fell 5.8 percent to 5.12 billion euros ($7.06 billion) from 5.44 billion euros a year earlier, the French company said. That missed the 5.33 billion-euro average of five analyst estimates compiled by Bloomberg. Nine-month revenue declined 5.3 percent to 15.3 billion euros.

The tire maker forecast that operating profit will rise by about 150 million euros before one-time items and currency effects, which will be “more deeply negative” than anticipated at the beginning of the year. Michelin said it still sees global volumes as “stable.”

The company said it is seeking growth outside Europe by selling tires for mining equipment and other large vehicles amid a six-year slump in car sales in the region. The manufacturer is investing in additional capacity in new markets. About 59 percent of Michelin’s 107,000 workers are employed in Europe.

Michelin laid out a strategy on Sept. 18 seeking at least a 15 percent return on capital by 2020.

EARNINGS

Apple earnings fall

Apple’s fourth-quarter earnings fell 9 percent as more people bought the company’s lower-priced iPhones and iPads. It marked the third consecutive quarter that Apple’s earnings have dropped from the previous year.

Apple earned $7.5 billion, or $8.26 per share, during the three months ending Sept. 28. That compared with income of $8.2 billion, or $8.67 per share, last year.

Revenue rose 4 percent to $37.5 billion — about $600 million above analyst predictions.

Compiled from staff and wire reports.



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