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Sonae, SGPS, SA Business Reports

Sonae, SGPS, SA Overview

Address

Lugar Do Espido, Via Norte,
Apartado 1011 Maia, 
 4471--909  Portugal
Phone: +351-22-948-7522
Fax:+351-22-948-7722

Company Description

Sonae's business started in the 1950s in Portugal, making laminated wood paneling for use in construction. In the 1980s it began to diversify through the acquisition of a supermarket chain and the development of hypermarkets. Today, the Portuguese conglomerate is the country's #1 retailer and operates under the Continente (hypermarkets),Ā Modelo and Modelo Bonjour (supermarkets) banners, among numerous others. It is also invested in wireless and fixed communication systems and services, Internet services, shopping center development and operation, insurance, and tourism in 16 countries. In late 2005 Sonae sold its supermarket business in Brazil, which included 140 stores, to Wal-Mart for about $757 million.

Sonae, SGPS, SA Company Profile Report

Purchase Report
 
$69

Hoover's industry experts provide proprietary editorial analysis supplemented with content from multiple data sources to bring you the Company Profile Report. The depth of each report varies, so be sure to view the sample and review the report contents listed next.

 

Sections Included in Report

  • Company Overview
  • Company Description
  • People
  • Biographies
  • Industry Information
  • Financial Summary
  • Annual Income Statement
  • Quarterly Cash Flow
  • Annual Balance Sheet
  • Quarterly Balance Sheet
  • Annual Cash Flow
  • Quarterly Income Statement
  • Financial Market Data
  • Historical Financials
  • Competitors List
  • Competitive Landscape

Company Profile Report Highlights

  • Company Description

    Quickly grasp how a company operates and understand its current business environment.
  • Industry Information

    Identify the often times disparate industries a company does business in, and find the corresponding SIC and NAICS codes.
  • Biographies

    Learn the background and technology interests of the company's executives, to better understand possible growth directions.
  • Company History

    When you want to know where a company is going, you'll be helped by first knowing where it's been. Use this to get up tp speed on a company's history.
  • Key People

    Uncover the roles and responsiblities of the management team and identify the correct decision maker, so you are sure to talk to the right contact.
  • Company Financials

    Review key financial information to gauge health and growth potential.

Company Profile Report

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$69

    Choose below from the available Industry Reports related to 

  • Commercial Real Estate Brokerage & Management Industry Report
  • Retail Sector Industry Report
  • Wireless Telecommunications Services Industry Report
  • Wired Telecommunications Services Industry Report
  • Commercial & Heavy Construction Contractors Industry Report
  • Telecommunications Services Industry Report
  • Grocery Stores & Supermarkets Industry Report
  • Internet Service Providers Industry Report

Commercial Real Estate Brokerage & Management Industry Report

Purchase Report
 
$129

Overview

The US commercial real estate brokerage and management industry includes about 30,000 companies with combined annual revenue of about $35 billion. Major companies include CBRE Group (formerly CB Richard Ellis Group), Colliers International, Cushman & Wakefield, Grubb & Ellis, and Jones Lang LaSalle. The industry is highly fragmented: the 50 largest companies account for one-quarter of industry revenue.

SIC: 6531, 6512

NAICS: 531312, 531210, 531120

 

Sample Questions & Answers

How does the company respond to real estate cycles?

Demand for commercial real estate services can vary sharply from year to year. The volume of brokered transactions and the amount of space under management can fall more than 10 percent per year. Demand for commercial real estate is closely tied to...

 

How quickly can local rents or vacancies change in the company's market?

Lease and vacancy rates and rents can vary in different markets. Office space may lease for $20 per square foot in Omaha and $120 in New York. Local vacancy rates can double or triple in a year, depending on the strength of the local economy.

 

To read this full Call Prep Question and others, purchase the full report.

 

General Report Description

Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

 

Sections Included in Report

  • Industry Overview
  • Quarterly Industry Update
  • Business Challenges
  • Trends and Opportunities
  • Call Preparation Questions
  • Financial Information
  • Industry Forecast
  • Website and Media Links
  • Glossary of Acronyms

    Industry Report Highlights:

    • Recent Developments

      Stay up to date on crucial industry news that may affect your strategy.
    • Trends & Opportunies

      Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
    • Call Preparation Questions

      Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
    • Industry Forecast

      Identify growth and integrate projections in your own business planing.
    • Business Challenges

      Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
    • Executive Insight

      Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
    • Financial Information

      Increase your credibility and support your presentations by adding verifiable industry metrics.
    • Web Links & Acronyms

      Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

    Commercial Real Estate Brokerage & Management Industry Report

    Purchase Report
     
    $129

    Retail Sector Industry Report

    Purchase Report
     
    $129

    Overview

    The US breakfast cereal manufacturing industry includes about 30 companies with combined annual revenue of about $11 billion. Major companies include Kellogg, General Mills, Post Foods, and Quaker (owned by PepsiCo). The industry is highly concentrated: the top four companies account for 80 percent of revenue.

    SIC: 2043

    NAICS: 311230

     

    Sample Questions & Answers

    How dependent is the company on the success of ready-to-eat cereal?

    Cereal manufacturers depend highly on a single type of product (cold, ready-to-eat cereal) that's overwhelmingly consumed at a single time of day. Because cereal with milk can't be easily consumed on-the-go, busy families and professionals may be...

     

    How does the company manage commodity price swings?

    The price and availability of cereal grains can fluctuate sharply due to farm yield, weather patterns, and government farm subsidies. Wheat, corn, and oat prices routinely swing 10 percent or more from year-to-year. Price and supply instability isn't...

     

    To read this full Call Prep Question and others, purchase the full report.

     

    General Report Description

    Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

     

    Sections Included in Report

    • Industry Overview
    • Quarterly Industry Update
    • Business Challenges
    • Trends and Opportunities
    • Call Preparation Questions
    • Financial Information
    • Industry Forecast
    • Website and Media Links
    • Glossary of Acronyms

      Industry Report Highlights:

      • Recent Developments

        Stay up to date on crucial industry news that may affect your strategy.
      • Trends & Opportunies

        Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
      • Call Preparation Questions

        Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
      • Industry Forecast

        Identify growth and integrate projections in your own business planing.
      • Business Challenges

        Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
      • Executive Insight

        Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
      • Financial Information

        Increase your credibility and support your presentations by adding verifiable industry metrics.
      • Web Links & Acronyms

        Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

      Retail Sector Industry Report

      Purchase Report
       
      $129

      Wireless Telecommunications Services Industry Report

      Purchase Report
       
      $129

      Overview

      The US wireless telecommunications services industry includes about 1,600 companies with combined annual revenue of about $210 billion. Major companies include the four nationwide wireless carriers: AT&T, Verizon, Sprint Nextel, and T-Mobile USA (an indirect subsidiary of Deutsche Telekom). The industry is highly concentrated: the 50 largest companies generate nearly all industry revenue.

      SIC: 

      NAICS: 517210

       

      Sample Questions & Answers

      To what extent is the company seeing an overall increase in demand for high-end services?

      Demand for high-end services, such as video distribution and interactive GPS mapping programs, depends on growth in US personal income. These high-end services are key to profitability for many wireless operators. As personal income stagnates or...

       

      What market segment does the company anticipate will supply future subscriber growth?

      With about 96 percent of the US population already subscribing to wireless services, companies must attract subscribers from other carriers to sustain revenue growth. Competition for subscribers is intense, as nearly all US consumers have at least...

       

      To read this full Call Prep Question and others, purchase the full report.

       

      General Report Description

      Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

       

      Sections Included in Report

      • Industry Overview
      • Quarterly Industry Update
      • Business Challenges
      • Trends and Opportunities
      • Call Preparation Questions
      • Financial Information
      • Industry Forecast
      • Website and Media Links
      • Glossary of Acronyms

        Industry Report Highlights:

        • Recent Developments

          Stay up to date on crucial industry news that may affect your strategy.
        • Trends & Opportunies

          Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
        • Call Preparation Questions

          Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
        • Industry Forecast

          Identify growth and integrate projections in your own business planing.
        • Business Challenges

          Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
        • Executive Insight

          Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
        • Financial Information

          Increase your credibility and support your presentations by adding verifiable industry metrics.
        • Web Links & Acronyms

          Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

        Wireless Telecommunications Services Industry Report

        Purchase Report
         
        $129

        Wired Telecommunications Services Industry Report

        Purchase Report
         
        $129

        Overview

        The US wired telecommunications services industry includes about 2,000 companies with combined annual revenue of about $160 billion. Major companies include AT&T, Verizon Communications, Comcast, and CenturyLink. The industry is highly concentrated: the 50 largest companies generate more than 90 percent of revenue.

        SIC: 4813

        NAICS: 517110

         

        Sample Questions & Answers

        How will the company offset declines in basic wireline phone use?

        The US volume of wireline phone calls has steadily decreased as cell phones are used instead. Wired phone volume peaked in 2000, but has been declining ever since. Despite price increases, revenue from basic phone service has fallen for many...

         

        How much deregulation does the company expect?

        Because they're essential utilities, wireline phone companies are regulated at the state and federal levels. Price schedules must be approved by state regulatory commissions. The FCC and federal legislation affect services such as video and broadband.

         

        To read this full Call Prep Question and others, purchase the full report.

         

        General Report Description

        Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

         

        Sections Included in Report

        • Industry Overview
        • Quarterly Industry Update
        • Business Challenges
        • Trends and Opportunities
        • Call Preparation Questions
        • Financial Information
        • Industry Forecast
        • Website and Media Links
        • Glossary of Acronyms

          Industry Report Highlights:

          • Recent Developments

            Stay up to date on crucial industry news that may affect your strategy.
          • Trends & Opportunies

            Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
          • Call Preparation Questions

            Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
          • Industry Forecast

            Identify growth and integrate projections in your own business planing.
          • Business Challenges

            Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
          • Executive Insight

            Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
          • Financial Information

            Increase your credibility and support your presentations by adding verifiable industry metrics.
          • Web Links & Acronyms

            Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

          Wired Telecommunications Services Industry Report

          Purchase Report
           
          $129

          Commercial & Heavy Construction Contractors Industry Report

          Purchase Report
           
          $129

          Overview

          The US commercial and heavy construction contractors industry includes about 80,000 firms with combined annual revenue of about $545 billion. Major companies include Bechtel, Fluor, Jacobs Engineering, Peter Kiewit Sons', and Turner Construction. The industry is highly fragmented.

          SIC: 1623, 6552, 1622, 1611, 1541, 1522, 1389

          NAICS: 236210, 236220, 237110, 237120, 237130, 237210, 237310, 237990

           

          Sample Questions & Answers

          What strategies does the firm use to protect against slowdowns in construction activity?

          A tight financing environment for construction loans has made a once booming industry slow significantly. The slowdown in commercial construction activity has made work for contractors scarce in certain sectors. Many companies try to protect against...

           

          How seasonal or erratic is the company's cash flow?

          Although commercial contractors incur a steady stream of expenses, payments from customers are periodic, including amounts retained until after a project is complete. Bad weather can significantly delay construction schedules, creating uneven cash...

           

          To read this full Call Prep Question and others, purchase the full report.

           

          General Report Description

          Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

           

          Sections Included in Report

          • Industry Overview
          • Quarterly Industry Update
          • Business Challenges
          • Trends and Opportunities
          • Call Preparation Questions
          • Financial Information
          • Industry Forecast
          • Website and Media Links
          • Glossary of Acronyms

            Industry Report Highlights:

            • Recent Developments

              Stay up to date on crucial industry news that may affect your strategy.
            • Trends & Opportunies

              Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
            • Call Preparation Questions

              Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
            • Industry Forecast

              Identify growth and integrate projections in your own business planing.
            • Business Challenges

              Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
            • Executive Insight

              Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
            • Financial Information

              Increase your credibility and support your presentations by adding verifiable industry metrics.
            • Web Links & Acronyms

              Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

            Commercial & Heavy Construction Contractors Industry Report

            Purchase Report
             
            $129

            Telecommunications Services Industry Report

            Purchase Report
             
            $129

            Overview

            The US telecommunications services industry includes about 11,000 companies with combined annual revenue of about $500 billion. Large companies include AT&T, Verizon Communications, and Comcast. The industry is highly concentrated: the 50 largest companies generate about 90 percent of revenue.

            SIC: 4899, 4813

            NAICS: 517110, 517210, 517410, 517911, 517919

             

            Sample Questions & Answers

            What government regulations are impacting the company's strategies?

            The FCC regulates the interstate activities of telecom providers, including pricing and operations, while state public utility commissions (PUCs) regulate similar matters at the state level. Regulations affect most strategic decisions of telecom...

             

            How does the company manage swings in revenue?

            Demand for telecom services is affected by economic conditions, mainly because business customers provide a large portion of industry revenue. Consumers are also income-sensitive to the expensive new services telecom and cable providers offer. As a...

             

            To read this full Call Prep Question and others, purchase the full report.

             

            General Report Description

            Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

             

            Sections Included in Report

            • Industry Overview
            • Quarterly Industry Update
            • Business Challenges
            • Trends and Opportunities
            • Call Preparation Questions
            • Financial Information
            • Industry Forecast
            • Website and Media Links
            • Glossary of Acronyms

              Industry Report Highlights:

              • Recent Developments

                Stay up to date on crucial industry news that may affect your strategy.
              • Trends & Opportunies

                Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
              • Call Preparation Questions

                Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
              • Industry Forecast

                Identify growth and integrate projections in your own business planing.
              • Business Challenges

                Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
              • Executive Insight

                Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
              • Financial Information

                Increase your credibility and support your presentations by adding verifiable industry metrics.
              • Web Links & Acronyms

                Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

              Telecommunications Services Industry Report

              Purchase Report
               
              $129

              Grocery Stores & Supermarkets Industry Report

              Purchase Report
               
              $129

              Overview

              The US retail grocery industry includes about 65,000 supermarkets and other grocery stores with combined annual revenue of about $470 billion. Major companies include Kroger, Safeway, and SUPERVALU as well as Ahold, the US division of Netherlands-based Royal Ahold. The industry is concentrated: the 50 largest companies generate about 70 percent of revenue.

              SIC: 5411, 5421, 5431, 5441, 5451, 5461

              NAICS: 445110, 445210, 445220, 445230, 445291, 445292, 445299

               

              Sample Questions & Answers

              How has the company's competitive environment changed over time?

              As alternative retailers realized the traffic-driving power of food sales, the competitive set for grocery stores expanded and the battle over food dollars became more intense. By buying in enormous volume, mass merchandisers and warehouse clubs have...

               

              What are the company's biggest challenges in maintaining margins?

              Grocery stores operate with extremely low margins and depend on volume to generate profits. Gross margins are 25 percent of sales, lower than the 40 to 50 percent margin for most retailers. Profit margins can be razor-thin: in some cases, grocery...

               

              To read this full Call Prep Question and others, purchase the full report.

               

              General Report Description

              Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

               

              Sections Included in Report

              • Industry Overview
              • Quarterly Industry Update
              • Business Challenges
              • Trends and Opportunities
              • Call Preparation Questions
              • Financial Information
              • Industry Forecast
              • Website and Media Links
              • Glossary of Acronyms

                Industry Report Highlights:

                • Recent Developments

                  Stay up to date on crucial industry news that may affect your strategy.
                • Trends & Opportunies

                  Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
                • Call Preparation Questions

                  Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
                • Industry Forecast

                  Identify growth and integrate projections in your own business planing.
                • Business Challenges

                  Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
                • Executive Insight

                  Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
                • Financial Information

                  Increase your credibility and support your presentations by adding verifiable industry metrics.
                • Web Links & Acronyms

                  Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

                Grocery Stores & Supermarkets Industry Report

                Purchase Report
                 
                $129

                Internet Service Providers Industry Report

                Purchase Report
                 
                $129

                Overview

                The US Internet service provider (ISP) industry generates combined annual revenue of about $45 billion. Major companies include AOL, AT&T, Comcast, and Verizon. Operators of wired telecommunications services are the primary providers of Internet access in the US.

                SIC: 4813

                NAICS: 517110

                 

                Sample Questions & Answers

                How does growing competition from large telecom companies affect the company's customer retention rate?

                In view of the growing importance of the Internet to their businesses, many companies bypass ISPs and connect directly to the Internet through the large telecommunications and cable companies that provide the backbone of the network. In coming years,...

                 

                What plans does the company have for major equipment purchases near-term?

                As consumers and businesses use the Internet more and demand more services, ISPs continually have to invest in new equipment. Although prices for computer servers continue to fall, periodic investments require access to large amounts of capital. The...

                 

                To read this full Call Prep Question and others, purchase the full report.

                 

                General Report Description

                Save valuable research time, increase confidence on sales calls, and get the competitive edge to win more business with Hoover's Industry Report. Proprietary editorial analysis synthesizes hundreds of sources into an easy-to-digest format so that you can quickly understand a client's business challenges. Insight into critical business issues, industry trends and opportunities, and financial benchmarks is an integral part of each report.

                 

                Sections Included in Report

                • Industry Overview
                • Quarterly Industry Update
                • Business Challenges
                • Trends and Opportunities
                • Call Preparation Questions
                • Financial Information
                • Industry Forecast
                • Website and Media Links
                • Glossary of Acronyms

                  Industry Report Highlights:

                  • Recent Developments

                    Stay up to date on crucial industry news that may affect your strategy.
                  • Trends & Opportunies

                    Identify avenues for expansion and get prospects thinking about growth opportunities that justify investing in your product.
                  • Call Preparation Questions

                    Gain instant rappart with prospects during youir sales calls using done-for-you call prearation questions.
                  • Industry Forecast

                    Identify growth and integrate projections in your own business planing.
                  • Business Challenges

                    Engage your prospects with solution selling that makes their life easier by first understanding their pain points.
                  • Executive Insight

                    Identify the correct decision maker and tailor your presentation to his or her needs, and maximize the effectiveness of your pitch.
                  • Financial Information

                    Increase your credibility and support your presentations by adding verifiable industry metrics.
                  • Web Links & Acronyms

                    Speak the Prospect's language by demonstrating an understanding of industry trade associations and jargon.

                  Internet Service Providers Industry Report

                  Purchase Report
                   
                  $129

                  Sonae, SGPS, SA  Overview

                  Top 3 Competitiors

                  Company: Groupe Auchan S.A.
                  Location: Croix, France

                  Company: Centros Comerciales Carrefour, S.A.
                  Location: Madrid, Spain

                  Company: Distribuidora Internacional de Alimentación S.A.
                  Location: Madrid, Spain

                  Industries where Sonae, SGPS, SA Competes

                  Grocery Stores & Supermarkets
                  Read More

                  Construction Sector
                  Read More

                  Commercial & Heavy Construction Contractors
                  Read More

                  Real Estate
                  Read More

                  Commercial Real Estate Management
                  Read More

                  Retail Sector
                  Read More

                  Competitive Landscape Brief

                  Demand is driven by consumer and business requirements for information. The profitability of individual companies depends on efficient operations and good marketing. Big ISPs have economies of scale in operations, purchasing, and marketing. Small companies can compete successfully by operating in underserved markets or excelling in customer service.

                  Sonae, SGPS, SA Competitive Landscape

                  Purchase Report
                   
                  $69

                  Providing a complete view of how this company and its competitors stack up against one another, the Competitive Landscape report includes benchmarks on over 30 parameters related to sales, employees, market cap, profitability, and growth. Exclusive to Hoover's, this landscape can be used to conduct competitive analysis, inform corporate strategy, and identify trends.

                   

                  Sections Included in Report

                  • Key Numbers
                  • Profitability
                  • Valuation
                  • Operations
                  • Financial Ratios
                  • Per Share Data ($)
                  • Growth Statistics
                  • *Data provided for 3 to 30 competitors

                    Company Landscape Report Highlights

                    • Competitors List

                      Identify specific primary and secondary competitors, allowing you evaluate the chances of sucessfully introducing new products.
                    • Competive Landscape

                      Acess detailed financial metrics on a company's top competitors, so you can quickly determine their relative health and add credibility-boosting quantitative data to your presentations.

                    Competitive Landscape Report

                    Purchase Report
                     
                    $69