Toll Brothers reports big decline

Luxury-home builders Toll Brothers reported a 67 percent decline in its first-quarter profit. In a statement, the company’s chairman and chief executive was not optimistic about the home-sales market rebounding dramatically in the immediate future. “There are too many soft markets at this stage of the selling season to call a general upturn in the new-home market,” said Robert Toll. more [WSJ]

Sign Up for the undefined Newsletter