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Consumer Stock Updates: Costco Wholesale Corporation (NASDAQ:COST), Destination Maternity Corp (NASDAQ:DEST)

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By on Consumer Staples

Costco Wholesale Corporation (NASDAQ:COST), said comparable sales in the five weeks ended July 6 rose 6% while total sales rose 10% to $10.89 billion. U.S. same-store sales were up 6% in the period while international same-store sales rose 7%.

The warehouse retailer said excluding inflation in gasoline prices that had a positive impact on the five-week period, and foreign currencies that had a negative impact, its total same-store sales were up 6%, with a 6% increase in the U.S. and an 8% jump in its international segment. That is above the 5% increase consensus, according to Retail Metrics. COST closed at $117.92 Wednesday, around the mid-point of the 52-week range between $109.50 and $126.12. It was inactive in recent pre-market trading.

Destination Maternity Corp (NASDAQ:DEST), said Q3 revenues were negatively impacted by primarily from a decrease in comparable sales and decreased sales related to the company’s continued efforts to close underperforming stores.

The maternity apparel retailer reported net sales for the third quarter of fiscal 2014 decreased 5.5% to $134 million from $141.9 million reported for Q3 of fiscal 2013. One analyst polled by Thomson/First Call had expected total revenue of $145 million. Net sales for the first nine months of fiscal 2014 decreased 4.2% to $394.9 million from $412 million reported for the first nine months of fiscal 2013.

The company expects diluted and adjusted diluted EPS for fiscal Q3 and its operating income, adjusted EBITDA and diluted and adjusted diluted EPS for the full fiscal year 2014 will be below the guidance ranges provided previously and the quarterly and full fiscal year guidance provided previously is no longer valid. The company plans to release earnings results no later than August 11.

The company said Q3 comparable sales slid by 5.3%, compared with a 4.9% increase in the prior-year quarter. Adjusted for calendar timing shift, quarterly comparable sales fell by 5.1%, versus an increase of 5.3% last year.

The company has proposed a merger with Mothercare and is not permitted to update its 2014 profit and earnings per share guidance in accordance with customary quarterly practice based on provisions of the UK Takeover Code. Shares of DEST are at $24.80 with a 52-week range of $22.00 – $32.98.

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