Ross profit and sales jump in fourth quarter
Ross Stores posted profit that soared in the fourth quarter -- coinciding with the crucial holiday shopping season -- and the results caused the discount apparel retailer's shares to climb Thursday.
Ross earned $236.6 million on sales of $2.76 billion for the quarter that ended Feb. 2. Compared with the year-ago fourth quarter, profit jumped 23 percent and sales rose 15 percent. Earnings were $1.07 a share.
Shoppers looking for bargains helped fuel the retailer's sales and profit.
The results met Wall Street's expectations of a per-share profit of $1.07 on sales of $2.76 billion.
Pleasanton-based Ross earned $786.8 million on sales of $9.72 billion in fiscal 2012. Compared with fiscal 2011, profit climbed 20 percent and sales rose 13 percent.
Amyris backs Brazil deal on sugarcane mill
Emeryville-based Amyris said a deal to change ownership of a Brazil sugarcane mill will help the company with its biofuels business.
Tonon Bioenergia, a Brazil-based agriculture industrial company has struck a deal to buy the Paraiso Bioenergia sugarcane mill, said Amyris, a renewable chemicals and fuels company. That mill supplies feedstock to Amyris's farnesene production unit, also located in Brazil.
"Tonon Group's proposed acquisition of the sugarcane feedstock supplier of our Biofene plant underscores the confidence in our business model," said Paul Diniz, president of Amyris Brasil.
Amyris has developed a process to genetically modify molecules from food stocks such as sugarcane to create biofuels and other renewable chemicals.
Pandora available on Windows 8 phone
Oakland-based Pandora Media said its mobile app is being made available on the new Windows Phone platform, the Internet music service announced Thursday.
Pandora listeners on Windows Phone 8 will be able to access personalized radio at no cost, courtesy of Microsoft, through the remainder of 2013.
More than 140 million registered users have accessed Pandora via a smartphone or tablet. More than 75 percent of Pandora's listening occurs on a mobile or other connected device.
More than one out of three smartphone users have listened to Pandora over the past month, Pandora said.