Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, August 17, 1999

Hawaiian Air logs passenger gains

Hawaiian Airlines Inc. saw a 10.2 percent increase in passengers in July, carrying 546,045 passengers compared with 495,370 in the same month last year.

The company also recorded 475.24 million revenue passenger miles -- one paying passenger carried one mile -- in July, a 17.9 percent increase over the 403.02 million in the July 1998. For the first seven months of this year, Hawaiian carried a total of 3,309,709 passengers, a 7.6 percent increase over the same period last year. Revenue passenger miles totaled 2.775 billion, a 10.6 percent increase.

Net rebounds 15% at J.C. Penney Co.

PLANO, Texas -- J.C. Penney Co.'s fiscal second-quarter profit rose 15 percent, the first increase in five quarters, as the department-store company sold more store-brand clothing.

Profit from operations rose to $112 million, or 40 cents a share, from $97 million, or 35 cents, a year ago. Sales at the retailer, which also operates the Eckerd drugstore chain, rose 8.1 percent to $7.31 billion from $6.76 billion. Chairman James Oesterreicher is focusing on its more-lucrative private labels such as Arizona Jeans and J.C. Penney Home Collection.

E-Stamp to sell shares to public

WASHINGTON -- E-Stamp Corp. said today it expects to raise $85 million in the initial sale of its stock to the public. E-Stamp, of San Mateo, Calif., provides Internet postage. Its system allows consumers to buy, download and print postage directly from their personal computers. E-Stamp said it will use stock-sale proceeds for marketing, working capital and expansion.

In other news . . .

AUBURN HILLS, Mich. -- DaimlerChrysler AG is recalling more than 2 million minivans to fix defects that could cause hatches to collapse, wipers to stop and fires to break out under the vehicles. A total of 1.4 million 1991-93 Chrysler Town and Country, Dodge Caravan and Plymouth Voyager minivans are being recalled because the bolts on the hatch could loosen.

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