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February 10, 2003

Profits are rising, but sales are not

  • Companies are lowering expenses and boosting productivity but sales, higher prices and new customers are scarce.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK -- The jump in corporate earnings last quarter didn't come because there was a sudden surge in business. Much of it was fueled by cost-cutting across corporate America.

    Profit growth far exceeded sales growth for many companies that recently reported their quarterly results. That means they successfully lowered expenses and were more productive with the resources they had, but still struggled to sell more goods, raise prices and find new customers.


     
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