On October 16, 2009
Costco Sees Key Product Categories Turn Positive in September
What encouragement is to be found in September retail sales may best be found in the details, particularly as concerns Costco. Much of its recent conference call that covered fourth quarter and full year results gave over to September numbers that clearly gladdened the man relating them, Costco CFO Richard Galanti. Not that Costco had a bad year. Sales and revenues declined – earnings per diluted share for the year down to $2.47 from $2.89 last fiscal annum – but, given recession, deflation, frugality and other related challenges that haunted it through its fiscal annum, Costco did quite well and a lot better than most retailers. In fact, when foreign currency exchange rates and gasoline deflation are taken out of…
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