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PriceSmart misses on Q4 income, beats Street on revenues
San Diego –- PriceSmart Inc. reported net income of $21.9 million in the fourth quarter of fiscal 2014, up 5% from $20.8 million in the same quarter the prior fiscal year. However, this was still beneath Wall Street expectations. However, PriceSmart beat Wall Street projections with total revenue of $622.6 million, a 5% hike from $585.4 million. The addition of two new warehouse stores, bringing the total to 33, helped boost revenues. -
Kohl’s lowers outlook as e-comm advances
Weaker than expected third quarter sales prompted Kohl’s to lower its profit forecast while noting that e-commerce sales increase 30%.
The company held an investor conference on Oct. 29 and said third quarter sales were expected to decline 1.4% due to softer than expected sales during October. The top line weakness caused the company to confirm that profits would be at the lower end of a previously forecast range of $4.05 to $4.45 a share.