FINANCE

Sprouts Farmers beats Q2 profit forecasts

BY Katherine Boccaccio

Sprouts Farmers Market Inc. reported second-quarter net income of $37.2 million, which topped Wall Street expectations.

The natural and organic food retailer posted revenue of $1.03 billion in the period, narrowly missing Street forecasts of $1.04 billion, but topping last year’s sales by 14%.

Same-store sales grew 4.1% in the period.

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C-SUITE

Sally Beauty meets Q3 forecasts; names cyber-security expert to board

BY Katherine Boccaccio

Sally Beauty Holdings Inc. reported fiscal third-quarter earnings of $67.9 million, which matched Wall Street expectations.

Revenue for the period was $998.2 million, missing Street forecasts of $1 billion.

In other news, the Sally board named global cyber security expert Erin Nealy Cox as an independent director, effective Aug. 1.

“Erin is a pioneer in the cyber-security field and has been a tremendous asset to the board as we navigate through the complex world of cyber-security and data protection,” said Bob McMaster, Sally Beauty Holdings chairman.

Nealy Cox served with Stroz Friedberg, a global cyber-security, digital risk management and investigations firm, leading a global team of first responders, threat intelligence analysts and malware specialists, and assisting corporate clients affected by cyber-attacks, state-sponsored espionage and data breach cases to solve complex and high profile cyber-breaches.

She also worked for the U.S. Department of Justice, serving as an Assistant United States Attorney for the Northern District of Texas as well as Chief of Staff to the Assistant Attorney General in the Office of Legal Policy in Washington, D.C.

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FINANCE

Costco’s July comps slide 2%

BY Gina Acosta

Costco's comparable sales for the month of July declined 2%, with a 3% decrease in U.S. a 3% rise in Canada and other decreases internationally.

Costco reported net sales of $8.65 billion for the month of July, the four weeks ended July 31, compared to $8.64 billion during the similar period last year. Due to the timing of the Independence Day holiday, this year's July results included one less sales day in the U.S. than last year. The company said this shift negatively impacted total company sales by an estimated 2.5% (3.5% in the U.S.).

For the 48 weeks ended July 31, the company reported net sales of $107.16 billion, an increase of 2% from $104.95 billion during the similar period last year.

Costco currently operates 708 warehouses, including 496 in the United States and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the United Kingdom, 25 in Japan, 12 in Korea, 12 in Taiwan, eight in Australia and two in Spain.

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