PriceSmart 1Q Profit Surges 63%
San Diego PriceSmart Inc., which operates warehouse food clubs in Central America and the Caribbean, said Wednesday its first-quarter earnings surged 63% as sales grew faster than operating costs.
Net income jumped to $6.7 million from $4.1 million in the year-ago period, while revenue rose 24% to $250.4 million from $202.5 million.
Sales at warehouse clubs open at least a year added 21.6%. In December, net sales rose 25% to $122.6 million.
Eugster to head Baker & Taylor
CHARLOTTE, N.C. Jack Eugster, former non-executive chairman of Shopko stores and Musicland Stores ceo has been appointed chairman of book and entertainment distributor Baker & Taylor. He replaces Richard Willis who announced his retirement last week.
Eugster was chairman, ceo and president of Musicland Stores from 1980 until his retirement in 2001. From 2001 to 2005 he was the non-executive chairman of Shopko Stores.
Kirkland’s coo resigns
JACKSON, Tenn. Catherine David has resigned as president and coo of Kirkland’s.
Robert Alderson, ceo of Kirkland’s will take on David’s responsibilities. Kirkland’s said it does not currently intend to seek a replacement.
David was named president and coo of Kirkland’s in March 2006. Prior to joining the company she served as senior vp and gm of Sears Essentials, Sears Grand and The Great Indoors. She resigned from Sears in fall 2005.