FINANCE

Lower Gasoline Prices Impact Warehouse Clubs

BY CSA STAFF

New York City The falling price of gasoline in December impacted same-store sales for the month at both Costo Wholesale Corp. and BJ’s Wholesale Club.

Costco reported a 4% decline in same-store sales. However, excluding the impact of lower gas prices and currency fluctuations, U.S. same-store sales rose 2%, better than analysts had expected. International same-store sales excluding the impact of foreign exchange rose 9%.

BJ’s Wholesale Club Inc. said Thursday its same-store sales grew 1.6% in December as lower gasoline sales weighed on results. Excluding gas sales, same-store sales grew 5.9%, surpassing Wall Street’s expectations for 1.6% growth

For January, BJ’s expects to report a 6% increase in same-store sales, excluding gasoline sales.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Wal-Mart, Netflix accused of monopoly building

BY CSA STAFF

NEW YORK Wal-Mart Stores and Netflix have been accused of trying to build a monopoly for online DVD rentals in a consumer lawsuit filed Jan. 2 in the U.S. District Court of the Northern District of California, according to reports.

The plaintiffs claim that in 2005, Wal-Mart agreed to end its online rental business and refer customersto Netflix, which in turn agreed to promote Wal-Mart’s DVD movie sales.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Family Dollar posts 1Q earnings growth

BY CSA STAFF

MATTHEWS, N.C. Family Dollar Stores reported that net income per diluted share for the first quarter of fiscal 2009 increased 13.5% to 42 cents compared with 37 cents for the first quarter of fiscal 2008. Net income for the quarter increased 14.1% to $59.3 million compared with net income of $51.9 million for the first quarter of fiscal 2008.

As previously reported, sales for the first quarter of fiscal 2009 were approximately $1.754 billion, or 4.2% above sales of approximately $1.683 billion for the first quarter of fiscal 2008. Comparable-store sales increased 2.1%.

For the fiscal year ending August 29, 2009, the company expects net sales will increase 4% to 6% and expects comparable-store sales will increase 2% to 4%. Anticipating continued strong sales of consumable merchandise, the company expects earnings per share will be between $1.63 and $1.81 in fiscal 2009.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...