“Costco Q4 Comp Sales Jump 6%” “Net sales for the fourth quarter were $34.75 billion, an increase of nine percent from $31.77 billion in fiscal 2013. Net sales for the fiscal year were $110.21 billion, an increase of seven percent from $102.87 billion last year.” Read the release
“Costco Beats Street – Q4 Profits Rise 13%” by Michael Calia at WSJ. “For the fourth quarter ended Aug. 31, the company’s profit rose to $697 million, or $1.58 a share, from year-earlier earnings of $617 million, or $1.40 a share. Total revenue improved 9% to $35.52 billion. Analysts expected a profit of $1.52 a share and revenue of $35.47 billion. Costco’s revenue from membership fees increased 7% to $768 million.” Read more (Subscription)
October 15th: Wal-Mart to Webcast 21st Annual Meeting for the Investment Community “The video webcast will include presentations and question and answer sessions on all three operating segments — Walmart U.S., Walmart International and Sam’s Club — as well as Global eCommerce. President and CEO Doug McMillon will provide an overview of the company’s strategies for next fiscal year.” Read the release
“Walmart Canada has hiked the price of its groceries, BMO report finds” by Hollie Shaw at Financial Post. “Based on our surveys, [it] had not been passing through the cost of wholesale grocery inflation to its customers until the last few months, while other grocers had started to slowly do so since the beginning of 2014.” Read more
“Dollar General: FTC decision on Family Dollar expected Friday” by Jennifer Thomas at Charlotte Bus. Journal. “The FTC’s 30-day review window closes on Friday. Dollar General declined to offer further comment on Wednesday afternoon. Analysts say the FTC has two likely options. It can seek additional information about a Dollar General-Family Dollar merger, or it could reject the deal outright.” Read more
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“Retail giants Walmart, Sears and Lowe’s are suffering in Canada” by Hollie Shaw at Financial Post. “Walmart, for example, increased its square footage in Canada by 10.6% in fiscal 2013 and another 2.6% in fiscal 2014, and will add 1.5% in the current fiscal year, but “the huge infusion of capital has not yielded the returns to which Walmart is accustomed,” the analyst noted.” Read more
“Family Dollar approves $550K in retention payments for top execs” by Jennifer Thomas at Charlotte Bus. Journal. “(Family Dollar) will pay a combined $550,000 if they maintain employment through Dec. 1, 2015. Chief Financial Officer Mary Winston and Executive Vice President Barry Sullivan each will receive $200,000. James Snyder, senior vice president, general counsel and secretary, will receive $150,000.” Read more
“30,000 Lose Health Care Coverage at Walmart” by Hiroko Tabuchi at NY Times. “In scaling back coverage for part-time employees, Walmart joins retailers including Home Depot, Target and Trader Joe’s, which have dropped benefits in response to the Affordable Care Act.” Read more
…Expands Mayo Clinic access by Kim Souza at The City Wire. “Wal-Mart workers who are allowed to keep their insurance coverage will be able to obtain care at the Mayo Clinic Cancer Center locations in Rochester, Minn., Jacksonville, Fla., or Phoenix, Ariz., if they should be diagnosed with breast, lung or colorectal cancer.” Read more
“Neiman Marcus’ wild fantasy gifts this Christmas include $475K perfume, $300K toy race track” by Sarah Blaskovich at Dallas News. “It’s that wide range of pricing that makes the Christmas Book so alluring, even for those who may never purchase a single item. It’s also helped the Dallas brand become nationally and internationally known. “People have said, ‘That’s the store where I can get a $25 lipstick or buy a camel!'” says Ginger Reeder, VP of Corporate Communications for Neiman Marcus.” Read more
“Pepsi launches ‘craft’ soda at Costco” by Candice Choi at AP via My Fox NY. “Pepsi is hoping to keep up with the times with a soda called “Caleb’s Kola” that comes in glass bottles reminiscent of a bygone era…According to its website, the drink is only being sold at select Costco locations in Maryland, New York, Virginia and Washington, D.C.” Read more
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