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Costco comps beat Sam’s but BJ’s didn’t
Costco and BJ’s were out with quarterly results this week following the release of Sam’s Club results last week that included flat operating profits and a 2.7% same-store sales increase excluding gas. Those results, characterized by Sam’s Club president and CEO Brian Cornell as strong and very pleasing, are consistent with results out this week from club competitors. Both Costco and BJ’s reported quarterly results that were in-line with or beat analysts’ expectations.
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Walgreens, Rite Aid miss expectations in February
New York City -- Walgreens said Thursday its same-store sales in February rose 3.1%, but the growth was slower than Wall Street expected. Analysts expected, on average, expected a 3.5% increase.
The company said pharmacy same-store sales rose 2.7% but were hurt by generic drug introductions over the last year. Non-pharmacy, or front-end, revenue increased 3.8%.
Rite Aid Corp. said Thursday that its same-store sales rose 1% in February, less than the 1.5% increase analysts had predicted.