Costco Posts 11.4% Same-Store Sales Increase
The big-box retailer continued to benefit from shoppers stocking up on everything from food to patio furniture.
Costco Shares Drop on 4th Quarter Sales Miss
The stock had risen 42% this year as the warehouse retailer benefited from strong consumer spending.
Smart Moves to Make Now Ahead of a Recession
Seize the day and think of a recession as the best time to pass competitors, says Bain & Co.
MoviePass Owner Says Q3 Revenue Overstated
Helios & Matheson Analytics incorrectly recognized $6.6 million in revenue from MoviePass, bringing its third-quarter loss to $146.7 million.
Costco Warns of Material Weakness in Controls
The warning related to IT systems that "support the company’s financial reporting processes" drove Costco's stock down 2.4%.
Investors Uneasy Over Costco Profit Growth
The retailer's Q4 earnings beat estimates and same-store sales were up 6.1% but its shares dropped nearly 3% in after-market trading.
Rewards Spending Cuts Into AmEx Profit
The company's consolidated expenses rose 21% to $5.8 billion in Q2 as it tried to keep affluent customers from switching to rivals.
AmEx Sales Drop 2% to $7.9B, Beat Estimates
The company has been more aggressively marketing its products and making changes to the Platinum Card to recover from the loss of its Costco partnership.
Costco Hikes Fees by $5 as Q2 Earnings Miss
CFO Richard Galanti says the competitive challenges Costco is facing from Sam's Club and Target are “formidable.”
Costco Returns to Same-Store Sales Growth
The retailer's comp sales rose 1% in the first quarter while profit was boosted by higher margins on fresh food items.
American Express to Slash $1B in Expenses
The company is combining its banking, risk, and legal organizations into a single group and appointing a new chief risk officer.