Price Co.: The San Diego-based operator of...
Price Co.: The San Diego-based operator of 46 Price Club discount membership warehouses in the United States reported fourth-quarter net income of $31.4 million, up 30% from the $24.1 million profit reported for the same quarter the year before. Revenue of $1.2 billion was up 23% from the $986 million for the year-before quarter.
The quarter ended Sept. 3 was one week longer than the quarter last year. Making strict 12-week comparisons, Price’s sales were up 13% over the previous year.
For the 53 weeks of fiscal 1989, Price Co.’s net income was $117 million, up 23.5% from $94.8 million the previous fiscal year, a 52-week period. Revenues of $4.9 billion were up 21% from $4.05 billion the previous year. Comparing 52-week periods, revenues were up only 19%, the company said.
Comparable sales at warehouses open at least a full year were 16.6% higher for the quarter and 14.4% for the full year.
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