Finance & Capital Management

ISSAQUAH, Wash. — Costco reported net sales of $21.85 billion for the third quarter, an 8% increase over sales of $20.19 billion for the same period last year. Comparable-club sales for the quarter increased 5%, which consisted of a 5% increase in the United States and a 5% increase internationally. Excluding the impact of fuel, total comps were still up 5%, however U.S. comps were 4% and international comps were 8% when adjusted for gasoline inflation.

San Francisco -- Williams-Sonoma Inc. reported Thursday that first-quarter profit dipped to $30.7 million, from $31.6 million last year, but results topped Wall Street estimates and the retailer has raised its full-year earnings forecast.

Sales increased 6% to $817.6 million, also surpassing analysts’ estimates of $811.7 million. Same-store sales grew 5.4% overall, driven by strength from Pottery Barn (up 9.1%) and West Elm (up 22.1%).

I’m just back from the retail real estate industry’s annual confab, the International Council of Shopping Centers’ RECon, in Las Vegas. As part of the event, Faith Hope Consolo, chairman, Prudential Douglas Elliman, hosted a panel discussion of retailers at the Women’s Special Industry Group meeting. Here are some of the more notable quotes from the discussion:

Brenda Godfrey, VP global store development, Starbucks Coffee Co.

Warrendale, Pa. -- Rue21 reported Thursday that profit for the quarter ended April 28 rose 20.6% to $11.6 million, from $9.6 million in the same quarter last year.
   
Net sales increased 18.9% to $205.6 million, from $172.9 million. Same-store sales for the quarter edged up 1.7%.

Bob Fisch, president and CEO said the company is staying its small- and mid-market growth course.

Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that net income for the quarter ended May 6 surged 19% to $386 million, from $324 million in the same period last year.

Revenue rose 8% to $22.3 billion from $20.6 billion, beating Wall Street’s expected $22.1 billion in revenue. Same-store sales increased 5%.

The company said it plans to open six additional warehouse clubs before the end of fiscal 2012.
 

Walmart U.S. CEO Bill Simon delivered an optimistic message about Walmart U.S.’s performance during the first quarter and its potential for the coming year during a presentation at a Morgan Stanley conference in Boston Wednesday. Ahead of the Walmart’s upcoming shareholders’ meeting, Simon talked about leveraging a more efficient supply chain to drive costs down, lower prices and improve traffic and shared insights on the company’s plans for growth in the second quarter and beyond.

New York -- Tiffany & Co. reported Thursday that profit for the first quarter was essentially flat at $81.5 million, compared with $81.1 million in the year-ago quarter, prompting the jeweler to reduce its forecast for both sales and profit for the year.

Worldwide revenue increased almost 8% to $819.2 million in the quarter, topping Wall Street’s estimates of $817.1 million in revenue. Same-store sales rose 4%.

Tiffany said it now projects that sales globally will be up 7% to 8%, instead of the originally forecasted 10% rise.

Las Vegas -- As retailers and shopping center executives returned to their respective home bases following their biggest show of the year – RECon – they did so with talk of recovery echoing in their ears.

This year’s event – the International Council of Shopping Centers’ RECon convention, held May 20-23 in Las Vegas – was a platform for discussions about expansion and freer capital, albeit tempered by what industry experts are calling a new discipline in the way we all do business.