Target misses September estimates
NEW YORK Target said its same-store sales rose 1.3% in September, missing Wall Street’s expectations for a 1.9% gain. Total sales for the five weeks ended Oct. 2 rose 3.1% to $5.56 billion.
Coming in a month that was relatively positive for most retailers, the results represent a setback in Target’s quest to turn around sales with a focus on groceries and marketing that emphasizes low prices.
The chain said Thursday that grocery, beauty and healthcare sales were strong, but that its monthly performance was near the low end of expectations.
Old Mother Hubbard releases new dog treats
TEWKSBURY, Mass. Old Mother Hubbard now is offering 15 new varieties of natural dog snacks.
All Old Mother Hubbard snacks are made with natural, nutrient-rich ingredients, such as chicken, cheddar cheese, apples, carrots, sweet potatoes and oatmeal, without any artificial colors or flavors. And each crunchy snack is slowly oven-baked to preserve the mouth-watering flavors that dogs love to catch, chew and eat.
Old Mother Hubbard now offers:
- Two new lines of soft and chewy snacks, which includes three new soft and chewy flavors;
- Four new crunch varieties for its Mother’s Solutions line;
- PB hearts;
- Liv’R’Wedges; and
- Wheat-free Chick’N’Apples.
Old Mother Hubbard also makes snacks that target specific health issues:
- Hip and joint;
- Skin and coat;
- Tartar control;
- Minty fresh breath; and
- Low fat.
Old Mother Hubbard natural dog snacks also now sport an updated look, so that dogs and their owners can take a peek at the delicious snacks right inside the bag through its characteristic see-through window.
Costco does well in Q4, FY2010
ISSAQUAH, Wash. — Costco had a big pickup in sales during fourth quarter 2010 and the fiscal year as a whole, according to an earnings report released Wednesday.
The membership-based mass-merchandise retailer reported fourth-quarter sales of $23.59 billion, an 8% increase over $21.89 billion in last year’s fourth quarter. Sales for the entire fiscal year were $76.25 billion, a 9% increase over $69.89 billion in fiscal year 2009.
Profit for the quarter was $432 million, compared with $374 million in fourth quarter 2009. Profit for the fiscal year was $1.3 billion, compared with $1.09 billion in fiscal year 2009.