News

Costco falls short on November same-store sales

BY Marianne Wilson

Issaquah, Wash. — Costco Wholesale Corp’s November same-store sales missed analysts’ expectations, hurt by lower gasoline prices and weak foreign currencies.

Same-store sales were up 2% in the four weeks ended Dec. 1, including the impact of fuel sales and foreign exchange, short of the 3% gain analysts expected.

November net sales rose 5% to $8.78 billion.

Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 4%.

For the 12-week first quarter ended Nov. 24, the company reported net sales of $24.47 billion, an increase of 5%.

keyboard_arrow_downCOMMENTS

Leave a Reply

D.Winfrey says:
Dec-21-2013 07:43 am

Unlike most retailers, Costco is siding with Obama in his call to boost the federal minimum wage to $9 an hour. In reality, it would do the President one better, sustaining a minimum hourly wage of $10.10. Source for this article: https://personalmoneynetwork.com/short-term-loans

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Jos. A. Bank boosts Q3 net income, sales

BY Dan Berthiaume

Hampstead, Md. – Jos. A. Bank slightly increased its net income to $13.6 million in the third quarter of fiscal 2013 from $13.3 million in the same period a year earlier. The retailer also saw its net sales grow about 6% to $247.5 million, from $232.8 million.

Same-store sales declined 0.1%, although direct marketing sales increased 23.5% and combined same-store and online sales increased 2.4%. Jos. A. Bank incurred $1.2 million of legal and professional expenses in connection with the company’s bid to acquire The Men’s Wearhouse.

"Our performance in the third quarter is a strong indication that we are taking the right actions to improve both our top and bottom lines,” said R. Neal Black, president and CEO of Jos. A. Bank. “In particular, the customer is responding well to the changes we are making in the promotional side of our business and our non-promotional business continues to grow strongly. This was evident in our improving sales trend, both in stores and online, as well as in our marketing efficiency and the 40 basis point increase in our gross profit margin rate in the third quarter, which represents our second consecutive quarterly increase."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Conn’s doubles Q3 net income

BY Dan Berthiaume

The Woodlands, Texas – Conn’s more than doubled its consolidated net income in the third quarter of fiscal 2014 compared to the same period in the prior year, growing to about $24.4 million from $11.8 million. Total net sales increased a healthy 51%, to $310.9 million from $206.4 million.

Significant sales growth was reported across all major product categories. On a sequential quarter basis, third quarter retail sales reflect the benefit of two stores opened in July 2013 and two additional stores opened during the quarter. The impact of new store openings was partially offset by the closure of two underperforming locations during the current quarter. With new store openings and the remodeling and relocation of existing stores, 40 stores were operating in the Conn’s HomePlus format at October 31, 2013.

For the full fiscal year 2014, Conn’s expects same-store sales to rise 7%-12% and 15-20 new store openings. For the full fiscal year 2015, the retailer anticipates same-store sales to grow 7%-12% and 15-20 new store openings. Currently, Conn’s operates more than 70 stores.

“We achieved the highest quarterly revenue and net income in Conn’s history,” said Theodore M. Wright, the company’s chairman and CEO. “This sales trend continued into November with retail sales expanding 49%. November same store sales rose 32%.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...