Latest news with #warehouseclub
Yahoo
3 days ago
- Business
- Yahoo
Costco to open new locations in August: Here's where
(NEXSTAR) – While some may joke about not needing a year's worth of mayonnaise or enough nacho cheese to fill a kiddie pool, warehouse club Costco has loyal members around the world – a following set to expand with the opening of new locations in August. The new U.S. locations to open in August are in The Villages, Florida; Richland, Washington; Allen, Texas; and Spring Valley, Nevada. Costco will also be opening locations in Rimouski, Quebec; North Guadalajara, Mexico; and East Newmarket, Ontario, Canada. The expansion follows the June and July openings of stores in South Korea, Sweden and Midland, Texas. Chief Financial Officer Gary Millerchip said in March that Costco's goal is to open 25-30 new locations annually, split roughly between U.S. and international markets, according to USA Today. Costco, which is based in Issaquah, Washington, opened its first warehouse in Seattle in 1983. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Globe and Mail
11-07-2025
- Business
- Globe and Mail
PriceSmart Q3 Earnings Miss Estimates, Net Merchandise Sales Up 8% Y/Y
PriceSmart, Inc. PSMT posted third-quarter fiscal 2025 results, wherein the top and bottom lines increased year over year. However, earnings missed the Zacks Consensus Estimate. PriceSmart's third-quarter results reflect steady progress in its core membership warehouse club business, underscoring the resilience of its model amid currency volatility and broader macroeconomic challenges. The company remains focused on expanding its footprint and evaluating new market opportunities to drive long-term growth. A key highlight was the announcement that PriceSmart is evaluating Chile as a potential new market for multiple warehouse clubs, demonstrating its commitment to strategic expansion and future growth. More on PriceSmart's Q3 Results This operator of membership warehouse clubs reported adjusted earnings per share of $1.14 in the quarter under review, which missed the Zacks Consensus Estimate of $1.16. However, this metric increased 5.6% from $1.08 per share in the year-earlier quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Total revenues of $1.32 billion increased 7.1% from the prior-year quarter. The company's net merchandise sales of $1.29 billion climbed 8% from the year-ago period. On a constant currency basis, the metric rose 9.5%. Notably, foreign currency exchange fluctuations negatively impacted sales by $18.6 million, or 1.5%. Membership income of $21.9 million rose 13.4% from the year-ago period. PriceSmart reported a 7% increase in comparable net merchandise sales for 13 weeks ending June 1, 2025, compared with the same period the previous year. On a constant currency basis, the metric rose 8.5%. Foreign currency exchange fluctuations contributed to a 1.5% decline in comparable net merchandise sales growth during the period. PSMT Stock Past Three-Month Performance Image Source: Zacks Investment Research Sneak Peek Into PSMT's Margins For the fiscal third quarter, PriceSmart's selling, general and administrative expenses totaled $172.8 million, up 8.4% from $159.5 million in the year-ago quarter. As a percentage of total revenues, SG&A expenses represented approximately 13.1%, up 10 basis points from 13% in the prior-year quarter. The slight increase reflects higher operating costs associated with the company's larger club footprint, wage and benefit inflation, and continued investment in strategic initiatives. Operating income during the fiscal third quarter was $56.2 million, up from $49.9 million in the prior-year period. The operating margin improved 20 basis points year over year to approximately 4.3%. Adjusted EBITDA was $79 million, up 11.2% from $71 million in the year-ago quarter. The adjusted EBITDA margin for the quarter was approximately 6%, up 20 basis points year over year. The improvement was driven by higher merchandise sales, membership income growth, and operating leverage despite foreign currency headwinds. PriceSmart's Financial Health Snapshot The company ended the quarter with cash and cash equivalents of $168 million, long-term debt (net of current portion) of $86.2 million and total shareholders' equity of $1.21 billion. The company had 55 warehouse clubs in operation as of May 31, 2025, compared with 54 warehouse clubs in operation as of May 31, 2024. Shares of this Zacks Rank #3 (Hold) company have gained 8.9% in the past three months compared with the industry's growth of 1.4%. Key Picks Some better-ranked stocks in the retail space are Canada GooseGOOS, Stitch FixSFIX and Allbirds Canada Goose is a global outerwear brand. GOOS is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. It flaunts a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for Canada Goose's current fiscal year's earnings and sales indicates growth of 10% and 2.9%, respectively, from the year-ago actuals. Canada Goose delivered a trailing four-quarter average earnings surprise of 57.2%. Stitch Fix delivers customized shipments of apparel, shoes and accessories for women, men and kids. It currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for Stitch Fix's current fiscal year's earnings implies growth of 71.7% from the year-ago actuals. SFIX delivered a trailing four-quarter average earnings surprise of 51.4%. Allbirds is a lifestyle brand that uses naturally derived materials to make footwear and apparel products. It presently carries a Zacks Rank of 2. The Zacks Consensus Estimate for BIRD's current financial-year earnings implies growth of 16.1% from the year-ago actual. 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