Costco’s Q1 global sales rise 11%
ISSAQUAH, Wash. — Mass merchandiser Costco had global sales of $18.82 billion during first quarter fiscal 2011, which ended Nov. 21, according to a regulatory filing Wednesday.
That represented an 11% increase over $16.92 billion in first quarter fiscal 2010.
Profits for the quarter were $312 million, compared with $266 million a year ago.
Safeway declares quarterly dividend
PLEASANTON, Calif. — Safeway’s board of directors declared a regular quarterly cash dividend of 12 cents per share. The cash dividend will be payable on Jan. 13, 2011, to stockholders of record at the close of business on Dec. 23.
In related news, the retail chain’s board also increased the authorized level of the company’s stock repurchase program by $1 billion to $7 billion. Through the end of third quarter 2010, Safeway repurchased approximately $5.2 billion of its stock and had approximately $800 million remaining under its stock repurchase program, Safeway said.
CDMA celebrates 85th anniversary with annual trade expo
NOVI, Mich. — A coalition owned by 125 regional drug chains, independent pharmacies, regional drug wholesalers and specialty distributors will host its annual trade expo next month at the Hilton Orlando in Orlando, Fla.
The Chain Drug Marketing Association said it will celebrate its 85th year of uniting suppliers with its members, allowing buyers to discuss business opportunities with exhibitors, meet and exchange ideas with other buyers and learn about new CDMA programs that can help to increase profitability in the front end of their stores.
What’s more, the expo also will include the Store Brand Forum, a one-on-one meeting format with buyers and store brands’ manufacturers, which will feature industry and marketing trends, new product launches and more. Another treat for buyers is the CDMA Showroom and Direct Import area, where a large variety of seasonal and everyday merchandise will be on display.
But while each component of the expo is an excellent opportunity for buyers and members, the CDMA noted the highlight of the expo is the 85th anniversary celebration dinner, which will give all attendees a chance to help CDMA honor the past and to plan for the future.
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