Business news briefs for February 19, 2004

Thursday, Feb. 19, 2004 | 11:18 a.m.

Retailer's profit advances

BENTONVILLE, Ark. -- Wal-Mart Stores Inc., the world's largest retailer, today said fourth-quarter profit rose 8.5 percent as frigid weather spurred sales of winter clothing in January.

Net income in the quarter ended Jan. 31 rose to $2.72 billion, or 63 cents a share, from $2.51 billion, or 57 cents, the company said in a statement. Sales increased 12 percent to $74.5 billion.

Shoppers snatched up coats and hats as cold weather extended the winter shopping season, helping to increase margins after a lackluster holiday season.

Development plan approved

Southern Nevada home builder Carina Corp. said its plans for Centennial Springs, a 41-acre mixed-use community in northwest Las Vegas, were approved by the Las Vegas City Planning Commission.

The development will be at the southwest corner of Durango and Tule Springs roads.

Called a mixed-use village, the project will incorporate early 20th century small-town architecture in a blend of residential, office and commercial land uses, said Mark Doppe, president of Carina, known for its Lamplight neighborhoods.

The plan includes 187 single-family homes, 22 multi-family town homes, six live-work units and 19 for-rent loft units. The plan also calls for 45,000 square feet of office development.

FOR THE RECORD

BAY AREA PAPERS: Qwest Communications International Inc. founder Philip Anschutz purchased theSan Francisco Examiner, the San Francisco Independent, San Mateo Independent and a printing plant. The three papers have combined circulation of about 436,000.