News for Costco
Dec 10 · 9:23:00 PM · Source: NY Times
Costco reported for the 1st-quarter 2010 earnings of $266 million, or $.60 per share, on sales of $17.3 billion. That compares to the prior year earnings of $263 million, or $.60 per share, on sales of $16.92 billion.
Same-store sales rose 3 percent, which is encouraging. However, much of that increase was from overseas and was helped by the weaker dollar.
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by Rich Pike
Nov 5 · 10:42:00 AM · Source: Company News Release
Costco Wholesale Corporation Thursday reported net sales of $5.68 billion for the month of October, the four weeks ended November 1, 2009, an increase of seven percent from $5.30 billion in the same four-week period last year.
The company's sales topped expectation.
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by Larry Etter
Nov 3 · 4:56:00 PM · Source: SA Business
The Houston maker of the popular Chi filed a lawsuit this week against Costco Wholesale Corp., alleging it improperly sells the hairstyling tools, including counterfeit ones.
In the suit, filed in state district court, Farouk Systems alleges that the Issaquah, Wash., wholesale club is selling the flat irons for as little as $59.99, whereas they cost at least $100 in salons. In its suit, Farouk's lawyers said sometimes Chi products find their way to stores through a “diverted” market, or through improper distribution channels.
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by Michael Oliveto
Oct 14 · 3:19:00 PM · Source: Drug Store News
Costco announced a 3% decrease in net sales over its fiscal Q4 which ended August 30. Sales over the period dropped from $22.63 billion to $21.89 billion. Net sales over the fiscal year 2009 dropped 2% from $70.98 billion to $69.89 billion. Net income during Q4 was $374 million, compared with $398 million in the year ago period. Net income for fiscal year 2009 was $1.09 billion, compared with $1.28 billion in fiscal year 2008.
The company cites the recession and foreign exchange rates as key contributors to the operating results.
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by Michael Oliveto
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