Costco 2Q sales up 12%
ISSAQUAH, Wash. Costco Wholesale today announced that net sales for the second quarter of fiscal 2008 increased 12% to $16.62 billion, from $14.8 billion during the second quarter of fiscal 2007. Net sales for the first half of fiscal 2008 increased 12% to $32.09 billion, from $28.66 billion during the first half of fiscal 2007.
For the second quarter, Costco’s total comps were up 7%. For the first half of 2008, compas were up 7%. The U.S. comparable sales figure includes, among other things, the effect of recent gasoline price inflation, with the average sales price per gallon of gasoline up 29% year-over-year for the quarter. Excluding this, U.S. comparable sales in the second quarter would have been 3% (instead of the 5% reported).
Net income for the second quarter of fiscal 2008 was $327.9 million, or 74 cents per diluted share, compared to $249.5 million, or 54 cents per diluted share, during the second quarter of fiscal 2007. Net income for the first half of fiscal 2008 was $589.8 million, or $1.33 per diluted share, compared to net income for the first half of fiscal 2007 of $486.4 million, or $1.05 per diluted share.
Verde joins TDIndustries board
DALLAS TDIndustries, a specialty construction company, has announced the appointment of Dora Ann Verde to its board of directors. Verde, a CPA and partner in the public accounting firm of Garza/Gonzalez & Associates in San Antonio, will serve as chairperson for TDIndustries’ audit committee.
According to Jack Lowe, Jr., board chair of TDIndustries, “We are fortunate to name Dora Ann Verde to our board and are very impressed with her exceptional qualifications.”
Brash Entertainment names legal affairs vp
Video game company, Brash Entertainment, announced that Melissa Miller has been appointed vp of legal affairs. Miller joined Brash from Fox Filmed Entertainment, where she handled legal affairs for domestic and global licensing and merchandising initiatives.
Prior to joining Fox, Miller practiced at Alschur Grossman Stein & Kahan, where she litigated on disputes involving partnership agreements, trade secrets and intellectual property.
“Melissa Miller has specialized in understanding complex partnerships and licensing agreements, making her an ideal fit for our business,” said Mitch Davis. “She navigates the Hollywood studio system with ease and is equally comfortable working closely with the game development community.”