Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: EtTuBrute who wrote (41543)	12/9/1999 8:26:00 AM
From: Manly	Read Replies (1) \| Respond to of 108040

Anyone see the news on COST this morning - looks real good:Thursday December 9 8:04 AM ET Costco Sales, Profits Up, Beat Estimates ISSAQUAH, Wash. (Reuters) - Costco Wholesale Corp. (NasdaqNM:COST - news), the largest U.S. warehouse club retailer, said on Thursday its first quarter operating profits rose 24 percent to $129.3 million or 56 cents a share, beating analysts' consensus earnings estimates. First Call/Thomson Financial published an analysts' consensus earnings estimate of 55 cents a share for the quarter for the company, which also has outlets in Europe and Asia. Last year's first quarter operating profits totaled $104.2 million or 46 cents a share, before a $118 million non-cash accounting charge over its membership benefits. After the charge, the company lost $13.8 million or five cents a share in last year's first quarter. Sales for the first quarter at the 302-warehouse chain ended Nov. 21 increased 16 percent to $6.82 billion from $5.89 billion a year ago. On a comparable warehouse basis, meaning warehouses open at least a year, net sales increased by 13 percent. Of the company's locations, Costco currently operates 230 in the United States, 59 in Canada, seven in the United Kingdom, three in Korea, two in Taiwan and a warehouse in Japan. Costco also operates 17 warehouses in Mexico with a joint venture partner. Total revenues for the company including membership fees increased to $6.94 billion in the first quarter, compared with $6.00 billion last year. Costco also said its board of directors approved a two-for-one stock split. Shareholders of record as of Dec. 24 will receive one additional share for every share held. The new shares are expected to be issued about Jan. 13, 2000. Expansion plans call for Costco to open an additional 15 to 20 new warehouses, including four to six relocations of existing warehouses to larger and better-located facilities prior to the end of its fiscal year 2000 on Sept. 3, 2000. Earlier Stories