Costco’s profit up 16% in Q4
Issaquah, Wash. Costco reported Wednesday that it earned $432 million for the period ended Aug. 29, up from $374 million a year ago, as revenue growth in international markets was more than double the gain in the United States. Its results beat analysts’ estimates.
Revenue rose 8% to $24.13 billion, helped by more money from membership fees. The figure missed Wall Street’s projected $24.23 billion.
Same-store sales rose 6%. Excluding the effects of higher gas prices and changes in currency exchange rates, the figure rose 4%.
For the year, net income increased 19% to $1.3 billion, compared with $1.09 billion a year earlier.
Annual revenue rose 9.1% to $77.95 billion.
Revenue from sales at clubs open at least a year increased 7% for fiscal 2010. Removing higher gas prices and changes in currency exchange rates, the metric rose 4%.
Costco, runs 573 warehouses, including 417 in the United States and Puerto Rico; 79 in Canada; 22 in the United Kingdom; seven in Korea; six in Taiwan; nine in Japan; one in Australia; and 32 in Mexico.
Fitting room goes high-tech at Macy’s
NEW YORK – Macy’s has partnered with marketing comany LBi to crate a state-of-the-art experience that bridges the customer’s experience in-store with their connected world, allowing them to shop the future through a full digital commerce experience, LBi reported.
Located at Macy’s flagship store in Herald Square, the Macy’s Magic Fitting Room features a large-scale mirror with multi-touch technology that interacts with a multi-touch tablet and lets customers browse, shop and "try-on" the latest must-have items virtually. Customers can search across the stores collection of clothing and then send the whole experience to their Facebook page, cell phone or email and then shop the looks at the store itself.
"We couldn’t be happier with the Magic Fitting Room," said Joe Feczko, SVP innovation for Macy’s marketing. "Reaching out to and engaging with the digital savvy, young consumer is something all retailers are striving to do. The Magic Fitting Room marries together our goals as a marketer and consumer’s expectations perfectly."
The Fitting Room will remain at the flagship store until November.
Black & Decker redesigns the DustBuster
TOWSON, Md. Black & Decker announced the redesigned line of one of its most well-known products, the DustBuster.
According to the company, the 14.4 V (CHV1410) and 15.6 V (CHV1510) models boast an innovative shape that allow users to operate the tool in ways that traditionally-shaped hand vacs haven’t performed.
Black & Decker’s redesigned DustBuster line is backed by a two-year warranty, and is available beginning in October at major retail stores nationwide. Prices and features for the 9.6 V (CWV9610), 9.6 V (CHV9610), 12 V (CHV1210), 14.4 V (CHV1410) and 15.6 V (CHV1510) will vary per model, ranging from $29.99 to $44.99.