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Survey: Online Father’s Day spending expected to be conservative

BY DSN STAFF

LOS ANGELES A report released Tuesday by PriceGrabber.com and its parent company Experian found that online gift purchasing for both graduation and Father’s Day is expected to be conservative.

In fact, according to the survey’s findings, 36% of respondents plan to spend less than $25 on Father’s Day.

“While the recession will influence consumer shopping behavior for both Father’s Day and graduation, it will also continue to have a significant impact in the future,” said Barbary Brunner, CMO at PriceGrabber.com. “We’re seeing the emergence of a new consumer trend we call ‘price bragging.’ In this day and age, people are excited about getting a deal that makes the most out of their budget, and when they do, they often share that information with others in their communities.”

Of the 64% of online consumers celebrating Father’s day this year, 27% will spend between $25 and $49 on a Father’s Day gift; 15% will spend between $50 and $74; and 22% plan to spend $75 or more on a Father’s Day gift.

When it came to shopping online versus offline, 41% of respondents said they would do less than half of their graduation shopping online; 34% said they would do more than half of their graduation shopping online; and 25% will do half of their graduation shopping online.

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BioScrip to present at two upcoming conferences

BY Alaric DeArment

ELMSFORD, N.Y. Specialty pharmacy company BioScrip will present at two conferences next month, BioScrip said Wednesday.

On June 7, chairman and CEO Richard Friedman and CFO and EVP Stanley Rosenbaum will present at the Noble Financial Sixth Annual Equity Conference at the Hard Rock Hotel in Hollywood, Fla. The next day, Friedman, Rosenbaum and president and COO Richard Smith will present at the Jefferies 2010 Global Life Sciences Conference at the Grand Hyatt in New York.

A live audio Webcast of the Florida event will be available at www.ontrack10.com and www.nobleresearch.com, while one of the New York event will be at www.wsw.com/webcast/jeff46/bios. Replays of the presentations will be available through BioScrip’s Web site, at www.bioscrip.com.

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Costco’s profit soars in Q3

BY Allison Cerra

Wholesaler Costco saw a surge in its third-quarter profit, the retailer reported Thursday.

Net income in the quarter ended May 9 rose to $306 million, up nearly 46% from $210 million in the year-earlier third quarter. Sales rose 12% to $17.39 billion. Same-store sales rose 4%.

Costco said its dramatic profit increase was attributed to continued overseas demand from Canada to Taiwan and by better sales of nonessential products such as apparel and home furnishings.

At the end of the quarter, Costco ran 568 warehouse clubs, with locations in the United States; Canada; Mexico; the United Kingdom; Korea; Taiwan; Japan and Australia. The company said it plans to open five more locations by Aug. 29, the end of its fiscal year.

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