Club & Warehouse

Costco reported a rise in sales and same-store sales for the fourth quarter.

Net sales for the quarter were $34.75 billion, an increase of 9% from $31.77 billion in fiscal 2013. Same-store sales for the total company increased 6%, while U.S. same-store sales also rose 6%.

Net income for the quarter was $697 million, or $1.58 per diluted share, compared with $617 million, or $1.40 per diluted share, in the year-ago period.

New York -- Costco Wholesale Corp will stop accepting American Express cards at its stores in Canada, effective January 1, 2015.

“The credit card relationship between American Express and Costco Wholesale Canada will not be renewed when it expires on Dec. 31,” the company stated in an e-mail to Canadian customers.

Costco’s U.S. locations will continue to accept American Express Cards, with the exception of TrueEarnings and American Express Platinum Cash Rebate cards issued in Canada, the chain said.

San Diego – For the month of August 2014, net sales at PriceSmart Inc. increased 7.3% to $206.7 million, from $192.6 million in August a year earlier. Same-store sales for the month increased 2.3%.

PriceSmart also announced the planned opening dates for the three warehouse clubs currently under construction in Colombia. The Bogota warehouse club is planned to open on Oct. 29; the Pereira warehouse club is planned to open on Nov. 13; and the Medellin warehouse club is planned to open on Nov. 26.

To help encourage early detection of diabetes in communities around the United States, Sam’s Club Pharmacy will host free diabetes screenings to both members and non-members on Sept. 13 from 11 a.m. to 3 p.m.
 
The diabetes screenings are free, confidential and available to the public at all Sam’s Club locations with a pharmacy (599 locations). The screenings, valued at $250, include tests for:

Issaquah, Wash. – Costco Wholesale Corp. on Thursday reported that its revenue for the fourth-quarter climbed 9% to $34.8 billion. Total same-store sales, excluding negative impacts from gasoline price deflation and foreign exchange, increased 7%.

Costco plans to open nine new warehouse stores before the end of calendar year 2014.

During the full fiscal year 2014, Costco reported a 7% jump in net sales to $110.2 million from $102.9 million. Total same-store sales rose 6%.  

Costco said it plans to open nine new warehouse stores before the end of calendar year 2014, following a boost in net sales for August and the fourth quarter.

During the month of August, net sales were $8.8 billion, an increase of 10% from $8 billion during the similar period last year. Same-store sales in the United States increased 7%.

For the 16-week fourth quarter, the company reported net sales of $34.8 billion, an increase of 9% from $31.8 billion in the year-ago period. Same-store sales in the United States increased 6%.

San Francisco -- Costco Wholesale Corp. agreed to pay a $335,000 in penalties federal Clean Air Act violations, according to a settlement announced Wednesday by the U.S. Environmental Protection Agency and U.S. Department of Justice. In addition, the retailer will fix refrigerant leaks and make other improvements at 274 of its stores, which EPA estimates will cost about $2 million over the next three years.

New York -- Walmart announced in a post on its corporate blog that its store-brand MasterCard holders can expect to receive a new chip-enabled card in the "next few weeks." The discounter said it is among the first retailers to implement chip technology as a more secure payment means for cardholders. It also noted in the post that Sam's CLub introduced a chip-enabled MasterCard in June. Both cards prompt customers not to swipe – but to insert and briefly leave the card in the payment terminal, so the card’s embedded chip can be accessed.