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MUSICLAND 2Q EARNINGS SKYROCKET

Company Execs Celebrate With Liquor And Whores, Employees Get Commemorative Paperweights
Everything's coming up roses for Musicland Stores Corporation—green roses. The nation's largest home-entertainment retailer is reporting a 14% increase in second-quarter earnings.

Musicland stores and e-commerce net earnings rose to $.05 per diluted share, up $.01 from last year's second quarter. Overall sales reached $818.3 million.

With sales up 4.4% from last year, Musicland store earnings climbed to $.11, while net earnings increased more than 62%, to $3.6 million.

While e-commerce generated a share loss of $.06 (compared to $.02 a year ago), it marks a huge leap in revenues to $1.7 million. Last year, Musicland online sales earned only $.03 million in its first-ever quarter.

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