Costco Profit Up 11%
Issaquah, Wash. Costco Wholesale Corp. said Thursday its fiscal first-quarter profit climbed 11%, partly on solid membership-fee growth, to meet Wall Street’s expectations.
For the period ended Nov. 25, the company reported earnings of $262 million compared with $236.9 million in the prior year.
Quarterly revenue rose 12% to $15.81 billion from $14.15 billion on increased membership-fee revenue and higher sales.
Membership fee revenue climbed to $338 million from $299.3 million, the company said.
Same-store warehouse sales rose 8% during the quarter, while U.S. same-store sales grew 5%. Excluding the impact of rising gas prices, U.S. same-store sales increased 4%. International same-store sales surged 17% on favorable currency exchange rates and climbed 5% on a local currency basis.
NPD outlines popular houseware purchases
NEW YORK Stand mixers, waffle irons and slow cookers, topped the list of most “giftable” kitchen electronics this year.
According to The NPD Group, 27.4% of consumers surveyed purchased a stand mixer as a gift, the waffle iron followed at 26.5% and the slow cooker at 24%.
Dinnerware and home textiles were also a popular purchase this year. In the dinnerware category, holiday, Christmas tree and winterberry (in that order) were the most sought after patterns in terms of dollar sales. Popular items, in terms of unit sales, for the home textiles category were cloth napkins sets, dishcloth sets and tablecloths.
Lowes Foods to offer tickets in stores
WINSTON SALEM, N.C. Lowes Foods is partnering with Ticketmaster to open 58 Ticketmaster retail ticket center locations in Lowes Foods stores across the state of North Carolina, the companies announced today.
The partnership, according to reports, is the first of its kind for Lowes Foods. The first fifteen Lowes Foods Tickmaster locations are scheduled to open and begin selling tickets on Saturday, Dec. 15 with the remaining locations to follow early 2008.
“Having Ticketmaster outlets in our stores is another great way of providing added convenience for our customers,” said Gary Watson, vp of business support for Lowes Foods. “Many of our customers enjoy going to events at local venues. This way, they can easily purchase tickets when they are at Lowes Foods without having to make an additional special trip.”