In its 2017 first fiscal quarter, which covered the 2016 holiday season, Galanti noted that while overall digital sales had risen by 7% year-over-year, the numbers during the Black Friday period were much better. During the week of Thanksgiving and the two that followed, he said, digital sales had risen by the low-to-mid teens.
Category: Costco Wholesale
‘The market just refuses to comply with the negative script.’
Once again the bears figured it was curtains. I am talking about yesterday’s session when we saw the worst decline in “ages,” where the market ended “hideously,” where the bull was on its “last legs.”
Costco Has Just Made It More Expensive for 35 Million People to Shop for Giant Mustard Bottles
For Costco’s millions of members in the U.S. and Canada, maintaining the privilege of shopping the warehouse retailer’s no frills stores for discounted bulk food will cost a little more later this year. On Thursday, the wholesale retailer said it would hike the price of its Goldstar membership by $5 per year to $60.
Costco Reports Net Sales Up 6% in Q2 and Membership Fee Increase
Costo’s hiking the price of yearly individual memberships by $5 to $60, and executive memberships are going up to $120. As expected, warehouse-club membership company Costco didn’t disappoint investors with its latest earnings, which it reported after the bell on Thursday.
Costco Wholesale Corporation’s Worst Move in 2016
Costco had a decent fiscal 2016, with comparable-store sales up 4% globally and 3% in the United States when the impact of falling gasoline prices is factored out. In addition, net income for the year was roughly the same as 2015, coming in at $2.35 billion, or $5.33 per diluted share, compared to $2.38 billion, or $5.37 per diluted share last year.
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Brick-and-mortar retailers thrive when they capitalize on the impulsive spending of their consumers. When a customer peruses the aisles of Wal-Mart for milk and eggs, but also grabs a box of Russell Stover chocolates from the endcap, Wal-Mart wins.
American Express: Signs of Life Amidst the Costco Rubble
In January 2015, the stock traded as high as $94. Two years later and the stock price cannot sniff $80, much less its former highs.True, it is well off its lows from last year, but it might be quite a while before it regains its former heights.
2 Ways Costco Is Beating the Competition
While both of those chains have lost sales and closed stores, largely due to customers moving to the internet, the warehouse club continues to add locations. Costco is not a massive growth story, but it is reliable at a time when many retailers — not just Sears and Macy’s — have struggled to find a way to keep customers coming in.
Revenue and Earnings Fall at American Express
Shares of the credit card giant are down since the news, dropping by 2% over the intervening days. American Express earned $825 million in the three months ended December 31, down 8% from the year-ago period.
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And emerging from the Great Recession, it proved to be an amazingly profitable niche to occupy. But with that success came competition — from traditional grocers and specialty shops alike.
American Express Profit Falls 8.2% as Expenses Top Estimates
American Express Co., the largest U.S. credit-card issuer by purchases, said fourth-quarter profit fell 8.2 percent as expenses exceeded analysts’ estimates and the firm set aside more money to cover bad loans. Net income dropped to $825 million, or 88 cents a share, from $899 million, or 89 cents, a year earlier, the New York-based company said Thursday in a statement.
Cramer: Trump Tariffs Will Slam Chain Stores
Jim Cramer says President-elect Donald Trump’s proposed tax on imported goods will hurt U.S. department-store stocks “very much,” but that two of his favorite picks — TJX Cos. and Costco — should weather the storm.
AmEx Profit Lags Estimates as Chenault Invests 35% More in Marketing
American Express posted lower profit in the last three months of 2016 than analysts expected as CEO Kenneth Chenault boosted spending on marketing and promotion by 35% to replace some of the revenue lost with the Costco portfolio. net income dropped 8% from a year earlier to $825 million, the New York-based company said in a statement .
Will 2017 Be Costco Wholesale Corporation’s Best Year Yet?
While other brick-and-mortar retailers struggled, Costco held its own and grew a little bit. On the other hand, investors clearly didn’t see 2016 as an up year for the company.
Walmart C-Suite Takes Another Hit as Uphill Battle with Amazon Rages On
Walmart Stores will reportedly promote several executives from its recently acquired Jet.com e-commerce business, as it continues a push to bolster its e-commerce offerings and compete with Amazon.com . According to an internal memo first obtained by Bloomberg, Walmart’s e-commerce CEO, Jet’s Marc Lore , announced that Jet’s chief revenue officer, Scott Hilton, will become the chief revenue officer for all of Walmart’s e-commerce operations.
4 Things Costco’s CFO Wants Investors to Know
Instead of changing to meet the new reality, the warehouse club has doubled down on what makes it popular in the first place. The company has focused on its warehouses and offering value for its customers while remaining a destination shopping experience.
Better Buy: Costco Wholesale Corporation vs. Target
In a brutally competitive industry, they each stand out by generating over $2 billion of annual earnings and handling millions of transactions per year. There are major differences between these two companies that could make one a better buy over the other for long-term investors.
Is a Costco Executive Membership Worth an Extra $55 a Year?
Taking the next step and spending $110, a full extra $55, on an Executive Membership seems like an added risk, but it may actually be a safer choice. That sounds counterintuitive, but the more expensive membership comes with a major perk that may actually make it a better deal than the cheaper $55 Gold Star offer.