Have Strong Q1
By Steve Smith On Jun 7 2010 - 3:01am
NEW YORK — Costco, BJ’s Wholesale
and The Home Depot all reported
strong performances for their respective
fiscal quarters that ended
in early May.Costco
reported that net sales and
net income both rose in its fiscal third
quarter, ended May 9.
Net sales for the third quarter were
up 12 percent, to $17.39 billion, from
$15.48 billion in the prior year’s third
Net income was up year on year for
the third quarter to $306 million, an increase
from $210 million.
Comp sales in the U.S. for the quarter
were up 6 percent and up 26 percent
internationally, Costco reported.
BJ’s Wholesale Club
reported an increase
in net income and a doubledigit
gain in net sales for its fiscal first
quarter, ended May 1.
Net earnings were $26.1 million,
compared with $24.3 million year on
Net sales were $2.55 billion in the
quarter, an increase of 12.9 percent.
Comp-store sales increased by 7.8
percent, including a contribution from
sales of gasoline of 3.6 percent.
Excluding the impact of gasoline,
merchandise comp-store sales increased
by 4.2 percent.
posted higher net
earnings and sales in its fiscal first
Net earnings were $725 million in
the quarter, ended May 2, compared
with the prior year’s $514 million in the
Sales for the first quarter totaled
$16.9 billion, a 4.3 percent increase
from the first quarter of fiscal 2009.
Comp-store sales for the first quarter
were positive 4.8 percent, and
comp sales for U.S. stores were positive
3.3 percent. On an adjusted basis,
which excludes the impact of sales related
to the closing of the Expo businesses
in the first quarter of fiscal
2009, sales increased 5.7 percent.
First quarter of fiscal 2010 results
reflect a net impact to earnings of
$33 million related to the extension
of Home Depot’s guarantee of a thirdparty
senior secured loan.