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Marce Edwards is the business editor. She has been at The News Tribune for seven years and has written about technology and big businesses in the South Sound including Weyerhaeuser and Russell. Before moving to Tacoma, she worked at The Idaho Statesman in Boise. She is a Northwest native who likes to garden and refuses to use an umbrella. She lives in Tacoma with her husband and two kids.
C.R. Roberts is a Tacoma native. Before joining The News Tribune, he worked as a freelance writer and part-time cowhand on a cattle ranch in Northern Idaho. He writes about small business, personal finance and other business issues.
John Gillie writes about the aerospace and airline industries, commercial development and consumer issues. During his 30-year-tenure at The News Tribune he has covered issues as diverse as the Native American fishing rights disputes, crime and the courts, the wood products industry and energy. He lived in Tacoma with his family for 25 years, but now lives in Kent because his wife heads a five-state non-profit foundation headquartered in Ballard, and it only seemed a sensible compromise to make considering their workplaces are 40 miles apart.
Kelly Kearsley has been a business reporter at The News Tribune since 2005. She covers the Port of Tacoma and international trade. Being born and raised in Spokane she’s used to living in cities with inferiority complexes and, in fact, prefers it. Prior to working at The News Tribune, she spent three years as a reporter for The Bulletin in Bend, Oregon and another year working stints for The Associated Press and Seattle Times. She graduated from Pacific Lutheran University. She lives in Tacoma with her husband and miniature schnauzer.
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The manager of the Tacoma Costco told me recently that the warehouse store does well during times of economic downturn because shoppers come looking for deals.
Looks like he was right.
Costco reported a 32 percent increase in its fiscal third quarter profits today, according to The Associated Press.
Here's the story:
Costco Wholesale Corp. reported a 32 percent jump in its fiscal third-quarter profit Thursday, topping Wall Street expectations, as cash-squeezed customers flocked to its warehouse clubs in search of bargains on food and toiletries.
But shares sank $1.48, or 2 percent, to $71.76 in midday trading after the company said Wall Street’s forecast for the fourth quarter might be too high.
Costco reported net income rose to $295.1 million, or 67 cents per share, from $224 million, or 49 cents per share, a year ago, which included a $30.3 million charge.
Sales increased 13 percent to $16.26 billion from $14.34 billion in the year-ago period. Including membership fees, revenue rose to $16.61 billion from $14.66 billion.
Analysts surveyed by Thomson Financial had expected a profit of 65 cents per share on revenue of $16.35 billion.
Net sales for the first three quarters of fiscal 2008 increased 12 percent to $48.35 billion from $43 billion during the same period last year. Excluding the sales return reserve adjustments recorded in the second and third quarters of fiscal 2007, which totaled $452.6 million, the net sales increase would have been 11 percent.
