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Costco Q1 profit disappoints
Issaquah, Wash. – Costco Wholesale Corp. increased profit and sales during the first quarter of fiscal 2014 that missed Wall Street expectations hurt by a 5.5% rise in operating expenses, lower gasoline prices, and weak foreign currencies.
Profit rose 2% $425 million, from $416 million a year earlier.
Net sales rose 5% to $24.47, missing estimates of $25.4 million.
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Survey: Nine-in-10 holiday shoppers not finished
Austin, Texas – Nine-in-10 (87%) holiday shoppers surveyed still have presents to buy. Recent surveys by RetailMeNot and The Omnibus Company found that nearly 200 million Americans have not completed their holiday shopping.
Nearly nine-in-10 (88%) winter holiday shoppers surveyed said they have had to buy gifts in the 11th hour. Parents seem to be the biggest procrastinators, as nearly all (95%) parents surveyed admitted to waiting until the last minute to buy holiday gifts.