-
Express Q4 profit tops Street; outlook weak
Columbus, Ohio -- Express said its fourth-quarter net income rose a better-than-expected 6%, but its full-year projection for earnings came up short as the retailer provided a weak outlook.
Express, similar to many other retailers, had less traffic in February, as higher taxes and rising gas prices cut into shoppers’ discretionary spending.
For the period ended Feb. 2, Express Inc. earned $63.9 million, up from $60.4 million a year earlier.
-
Costco sales, profits up again in 2Q
Second quarter sales increased 8% to $24.3 billion and profits, aided by a sizable tax benefit, increased 39% to $547 million, or $1.24 a share.
The surge is profits for the 12 week quarterly period ended February 17 was driven by a $62 million, or 14 cent a share, tax benefit that resulted from the portion of a special dividend payment made in December to participants in the company’s 401(K) program. Costco authorized a one time special dividend of $7 a share last year to return cash to shareholders in advance of a 2013 tax hike on dividend income.