twice connect

Costco Q4 Profits Up 11%

10/06/2011 11:18:28 AM Eastern

Issaquah, Wash. - Costco overcame weak CE sales to post a
10.6 percent increase in net earnings, to $478 million, for its fiscal fourth
quarter, ended Aug. 28.

Net sales rose 17 percent to $27.6 billion during the
three-month period, while same-store sales in the U.S. increased 6 percent
excluding the positive impact of higher gasoline prices.

In contrast, Costco's CE business saw comps slip by the
mid-single digits during the quarter, CFO Richard Galanti said on an earnings

Costco also reported a 15 percent increase in net September
sales, to $8.6 billion, and a 7 percent gain in U.S. same-store sales,
excluding gasoline. CE comps returned to positive territory last month, rising
by the mid-single digits on unit and dollar volume gains in TV.

Separately, the warehouse club announced a Nov. 1 increase
in annual membership fees of $5 for Goldstar and Business members, to $55, and
a $10 increase for Executive members, to $110. Costco also raised the 2 percent
cash-back rewards ceiling for Executive members from $500 to $750.

For the full fiscal year, net earnings rose 12.3 percent to
$1.5 billion, net sales increased 14 percent to $87 billion, and U.S.
same-store sales rose 5 percent excluding gasoline.

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston

ADL Honors Morales, Bilas, Paull, Weedfald At Annual Dinner

New York — The Anti-Defamation League’s National