U.S. retailers' ballooning inventories set stage for deep discounts May 27, 2022 01:04PM

By Siddharth Cavale and Arriana McLymore

NEW YORK (Reuters) -Major U.S. retailers that recently scrambled to restock shelves amid product shortages disclosed this week that their stores are now packed with too much merchandise, and some are even doing what was unthinkable just a few months ago: discounting unsold goods.

It's a sign of possible more trouble to come for retailers amid soaring inflation and higher gas prices. With shoppers'... (continue reading...)

Costco (COST) U.S. Comps Rise 19.1% in March Apr 6, 2022 05:57PM

Costco (Nasdaq: COST) reported net sales of $21.61 billion in March (five weeks ended April 3, 2022), which represents an 18.7% year-over-year growth.

Comparable sales for March increased by 17.2%, reflecting an improvement of 19.1%, 15.7%, and 8.4% in the United States, Canada, and Other International locations, respectively. Excluding the impacts of changes in gasoline prices and foreign exchange, comparable sales rose 12.2% on improvements of 12.7%, 12.2%, and 10.1%... (continue reading...)

Urban Outfitters (URBN) Misses Q4 EPS by 9c Mar 1, 2022 04:17PM

Urban Outfitters (NASDAQ: URBN) reported Q4 EPS of $0.41, $0.09 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $1.33 billion versus the consensus estimate of $1.33 billion.

Total Company net sales for the three months ended January 31, 2022, were a record $1.33 billion. Net sales increased 13.9% compared to the three months ended January 31, 2020. Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in... (continue reading...)

Costco (COST) U.S. Comps Rise 15.9% in December Jan 5, 2022 04:53PM

Costco Wholesale Corporation (Nasdaq: COST) announced its monthly net sales results today, according to which the company’s December (the five weeks ended January 2, 2022) net sales grew 16.2% year-over-year to $22.24 billion. For the 18 weeks ended January 2, 2022, the company’s net sales came in at $76.34 billion, representing a 16.6% year-over-year growth.

Comparable sales for the December period rose 14.5% for the total company, with the U.S. gaining 15.9%,... (continue reading...)

Costco (COST) Total Company Comps Increase 14.5% in Dec. Jan 5, 2022 04:16PM

Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $22.24 billion for the retail month of December, the five weeks ended January 2, 2022, an increase of 16.2 percent from $19.14 billion last year.

For the 18 weeks ended January 2, 2022, the Company reported net sales of $76.34 billion, an increase of 16.6 percent from $65.47 billion last year.

Comparable sales were as follows:

5 Weeks 18 Weeks U.S.15.9%... (continue reading...)

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