Costco Net Rises 12 Percent in Second Quarter
March 1, 2012,
[caption id="attachment_8126" align="alignleft" width="225"] [/caption]
ISSAQUAH, Wash.-Second-quarter net income for Costco increased by 12 percent in its fiscal second quarter to $394 million.
The warehouse-club retailer's bottom line benefited from a 10 percent gain in net sales for the quarter, which ended on Feb. 12. Net sales totaled $22.5 billion, and included an increase of 8 percent in same-club sales for both its U.S. and international locations. In a conference call to retail industry analysts yesterday, Richard Galanti, Costco's executive vice president and chief financial officer, said quarterly sales were driven by higher gasoline prices, offset to some extent by weakening in foreign net currencies relative to the U.S. dollar year over year.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.