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Apple retail sees "slight profit" in 2002

Apple Chief Financial Officer Fred Anderson said Thursday that the company's retail division will post a "slight profit" for fiscal 2002, which begins Sept. 30. For the first quarter of fiscal 2002 ending Dec. 31, Anderson said Apple's stores will break even. Anderson, speaking at the Salomon Smith Barney technology conference in New York, also said the company is operating with one day of inventory. He wouldn't comment on back-to-school sales or the company's quarterly results, but noted that "if you don't hear from us, that's obviously good news." For Apple's fiscal fourth quarter, the company is expected to post a profit of 19 cents a share, according to First Call.

Apple Chief Financial Officer Fred Anderson said Thursday that the company's retail division will post a "slight profit" for fiscal 2002, which begins Sept. 30. For the first quarter of fiscal 2002 ending Dec. 31, Anderson said Apple's stores will break even.

Anderson, speaking at the Salomon Smith Barney technology conference in New York, also said the company is operating with one day of inventory. He wouldn't comment on back-to-school sales or the company's quarterly results, but noted that "if you don't hear from us, that's obviously good news." For Apple's fiscal fourth quarter, the company is expected to post a profit of 19 cents a share, according to First Call.