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Costco profit up in Q2

BY DSN STAFF

ISSAQUAH, Wash. — Costco is off to a good start in 2012, with high increases in second-quarter sales and earnings.

The company reported that net sales for the second quarter of fiscal 2012 increased 10% to $22.5 billion, from $20.5 billion last year. Total comparable-store sales for the quarter increased 8%, consisting of an 8% increase at both U.S. and international clubs. Excluding the impact of fuel, comparable-store sales were up 7%, consisting of a 7% increase at U.S. clubs and a 10% increase at international clubs.

Net income for the quarter was $394 million, or 90 cents per diluted share, compared with $348 million, or 79 cents per diluted share, last year.

Costco currently operates 600 warehouses, including 433 in the United States and Puerto Rico, 82 in Canada, 32 in Mexico, 22 in the United Kingdom, 13 in Japan, eight in Taiwan, seven in Korea and three in Australia.

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Bottom Dollar Food extends reach in New Jersey

BY Allison Cerra

SALISBURY, N.C. — Discount grocer Bottom Dollar Food announced plans to open eight additional stores in New Jersey.

The first two stores will open Friday in Trenton and Cinnaminson, followed by openings in Bordentown, Edgewater, Bellmawr, Woodbury, Mt. Holly and East Windsor throughout 2012 and 2013. Bottom Dollar Food currently operates five stores in the state.

"We have been pleased with customer reaction to our current five stores in New Jersey and we are very excited to continue serving customers at our additional locations in the market," Bottom Dollar Food president Meg Ham said. "New Jersey customers will find Bottom Dollar Food unique because of our unbelievably low prices on quality private brands and the national brands that matter most, and our meaningful, efficient assortment of fresh produce and meat."

As previously reported, Bottom Dollar Food opened its first 14 stores in the greater Pittsburgh and Youngstown, Ohio, markets, in an effort to strengthen the portfolio of the chain’s parent company, Delhaize America, the U.S. subsidiary of Delhaize Group.

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Sabona of London rolls out new items for spring

BY Allison Cerra

SIKESTON, Mo. — Sabona of London has expanded its line of jewelry to include a leather magnetic necklace.

The necklace features a braided leather cord, available in brown or black, and holds four 1200 -gauss magnets in polished stainless steel accents. In addition to the necklace, the company also is rolling out several new bracelets, including:

  • Imperial men’s magnetic bracelet, featuring brushed and polished stainless steel;

  • Greek Key men’s stainless magnetic bracelet, showcasing the seamless Greek Key design;

  • Lady Executive two-tone gem magnetic bracelet;

  • Lady Executive matte gem magnetic bracelet;

  • Antique horsehead crosses magnetic bracelet; and

  • Brushed copper magnetic wristband.

The leather magnetic necklace and bracelets will be available in spring 2012.

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