Costco Q3 earnings jump 32 percent
ISSAQUAH, Wash. Costco reported a 32 percent increase in earnings for its third quarter led by sales of fresh foods and basic household items.
Costco reported net income of $295.1 million for the quarter with sale increasing 13 percent to $16.26 billion. Same store sales at it U.S. stores rose 4 percent excluding gas price inflation. The company did not break out pharmacy sales during May 29 earnings call.
Costco chief financial officer Richard Galanti said food sales were a strong area once again for the warehouse club as shoppers continued to buy in bulk as a hedge against inflation. He said sales of jewelry, home-furnishings and discretionary items in general were weaker.
Cellyspace.com enables consumers to recieve product-specific text messages from retailers
BOSTON Shoppers at retail stores may soon start receiving messages from stores where they shop, thanks to a new application from Skycore, a company that develops multimedia messaging services.
Retailers and brands will be able to market to customers by sending multimedia coupons, product reviews and other content to their cell phones while they’re in the stores through Skycore’s point-of-purchase application on Cellyspace.com.
In a typical implementation, customers would type in a keyword for a product and receive an automated message about it in their text-message inboxes. Markets would create the messages using Cellyspace’s online composition tool, with up to eight slides of images, audio or video and 4,000 characters of text.
Cellyspace is an online service and does not require a contract or special infrastructure to use. Instead, marketers pay 20 cents per message.
Father’s Day sales look to be slower this season
NEW YORK It looks as though dad might have to do without this year.
Sales of some expensive items for Father’s Day are down this year because of the lackluster economy, according to consumer research firm BrandKeys Inc.
In a survey, BrandKeys found that 90 percent of consumers—a 7 percent increase over last year—planned to buy their fathers greeting cards. At the same time, however, the number of planned purchases of computers was too insignificant to even make the list.
Overall, the numbers of consumers planning to buy gifts are down by 7 percent, from last year’s 77 percent.