Costco's 2nd-Qtr Revenue Increases on Holiday Gains

Costco's 2nd-Qtr Revenue Increases on Holiday Gains

March 2 (Bloomberg) -- Costco Wholesale Corp., the largest U.S. warehouse club, said second-quarter sales rose on holiday demand for electronics and home furnishings. Profit fell 3 percent from a year earlier when the retailer had a tax gain.

Revenue increased 11 percent to $14.1 billion, Issaquah, Washington-based Costco said today in a statement. Net income declined to $296.2 million, or 62 cents a share, from $305.5 million, or 62 cents. Sales at stores open at least a year rose 7 percent in the quarter ending Feb. 12.

Costco boosted sales of flat-screen televisions, iPods and furniture during the holidays. Costco is outpacing Wal-Mart Stores Inc.'s Sam's Club in comparable sales after gaining a reputation for selling high-quality food, housewares and electronics.

``They had an absolutely fabulous quarter as far as the holidays were concerned,'' said Patricia Edwards, a Seattle- based portfolio manager for Wentworth, Hauser & Violich, which has assets of $6.4 billion including Costco shares. ``They had a lot of must-have items that hit you the second you walked in the door.''

http://www.bloomberg.com/apps/news?pid=10000103&sid=atdttEDGk_E4&refer=us

According to the labor dept and the WSJ the average salary of a Costco Employee is about 18 dollars an hour. It is rare that a Costco employee quits.
Wal-mart on the other hand. The average salary is about 10.50.


on edit: As to the WSJ. I love the fact that the WSJ thinks it's bad management to pay employees so much money. It shows what pigs the WSJ really is.

I just don't usually ever need that much of anything. But I have a membership because I do like to support companies that work that way. On occassion if I'm having a party I"ll get something there, but pretty much my membership is strictly because of how good a company they are.

Their premium gas is at the price of midgrade .... so I get the good stuff for the price of the kinda good stuff... thats were my membership goes to... and the great Michelin tires I got there.... jsut don't do much shopping....

proof that a Corporation can treat it's employees well, and the result is an excellent shopping experience.
Take note, Walton Family....

I wish we'd get a Costco here. The closest one is in Winston-Salem about 2.5 hours away. Meanwhile, just yesterday the powers that be approved another Sprawl-Mart west of town and we're getting another one just to the north. This will make five Sprawl-Marts and a Sam's within a 25-mile radius.

They said they would let their real estate division know.

Let them know that there is a market for them in your area. :)

a petition together for a Costco and AGAINST any more Wal-marts wouldn't be terribly difficult.

I hope to move there someday soon; I'd certainly sign any petition-and one for a Trader Joe's as well. :-)

While there are a lot of liberals and progressives in Asheville the larger area is dominated by more....shall we say, conservative types. There were protests against every Sprawl-mart but they got built anyway. The Asheville planning board just approved the latest one by a 5-1 vote.

edit: typo

Their food selection is really good. I have to drive 30 miles to the nearest Costco, but it's worth it to support a "blue company".