Home / Knowledge / News / Comparable sales results remain strong at Costco
Comparable sales results remain strong at Costco
23
Jul '08
Costco Wholesale Corporation commented on its earnings outlook for its fiscal fourth quarter (16 weeks) and fiscal year ending August 31, 2008.

Currently, earnings per share for the fourth quarter are expected to be well below the current First Call consensus earnings per share estimate of $1.00. Actual results for the fourth quarter and the fiscal year will be reported on October 8, 2008.

According to Richard Galanti, Chief Financial Officer of Costco: "Factors negatively affecting our fourth quarter earnings outlook arise largely from inflation, particularly as to energy costs.

They include a significantly greater-than-anticipated LIFO charge; an anticipated negative swing in year-over-year profitability in our gasoline operations; and slightly lower-than-planned merchandise profits related to holding selling price points to help drive sales and maintain the confidence of our members.

Our comparable sales results remain strong relative to other retailers and we believe our growth outlook remains positive, with 20 to 25 additional new units planned for our 2009 fiscal year."

The Company announced that its Board of Directors has declared a quarterly cash dividend on Costco Wholesale common stock of $.16 per share, or $.64 per share on an annualized basis. The dividend of $.16 per share, declared July 21, 2008, is payable August 22, 2008, to shareholders of record at the close of business on August 8, 2008.

The Company also announced that its Board of Directors authorized an additional common stock repurchase program of up to $1 billion. This is in addition to the aggregate $5.8 billion amount previously authorized by the Board, of which approximately $4.6 billion has been expended since June 2005, repurchasing approximately 85 million shares.

Costco Wholesale Corporation

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search