Costco Q3 profit climbs 19%; to open nine clubs by September
ChainStoreAge.com - May 31st, 09:48
Issaquah, Wash. -- Costco Corp. reported Thursday that net income for the quarter ended May 12 increased a higher-than-expected 19% on increased sales and member fees. The wholesale club operator earned $459 million in the third quarter, up from $386 million in the year-ago period.
Revenue rose 8% to $24.08 billion, just missing Wall Street’s forecast of $24.09 billion. Revenue from membership fees climbed to $531 million from $475 million, and same-store sales rose 5% overall and 6% in the U.S.
The company said it plans to open nine warehouses prior to the end of its fiscal year on Sept. 1.
M&S steps up convenience store roll-out
24/10/2013 - 12:08
London - Britain's Marks & Spencer will step-up expansion of its Simply Food store network as it looks to benefit from growing consumer demand for smaller, convenience outlets, it said on Tuesday.
Customers reward a better, stronger and clearer Pick n Pay
23/10/2013 - 10:54
In an extremely competitive market, customers have responded positively to decisive action by Pick n Pay to improve the shopping trip. In the first six months to 01 September 2013, the company delivered an improved financial performance over the previous period, growing Group till sales (owned and franchise stores) by 8.1%.
Walmart accelerating U.S. small store growth; upping tech investments
17/10/2013 - 11:18
Bentonville, Ark. - Wal-Mart Stores detailed a number of moves, including opening smaller stores in the United States, cutting back on overseas growth and increasing its investments in technology and e-commerce, on the occasion of the company’s 20th annual investor meeting.
IBM revenue hit by emerging market sales
17/10/2013 - 11:14
IBM reported a 4 percent drop in third-quarter revenue, worse than expected by Wall Street, amid a decline in hardware and emerging markets even as it beat earnings estimates.
East Africa Breweries Limited posts 6% annual sales increase
10/10/2013 - 11:27
East African Breweries Limited (EABL) in August said it posted “good results” in the year to June despite tough operating conditions in markets such as Uganda and Tanzania.