Iconix lowers 2008 guidance
Iconix Brand Group (Nasdaq: ICON), parent of Danskin Fitness, reduced its revenue and earnings guidance for 2008, noting the difficult economy.
The company now expects earnings per share in a range of $1.15 to $1.20 and revenue between $215 million and $220 million. Iconix previously predicted earnings of $1.35 to $1.40 per share on revenue of $250 million to $260 million.
The company said its previous guidance assumed about $30 million in revenue related to new brand acquisitions in 2008. Although Iconix continues to evaluate potential purchases, the new guidance includes no revenue assumption from acquisitions.
The company said in a statement that it still might acquire more brands this year.
Costco same-store sales up 9 percent for May
Costco's (Nasdaq: COST) May same-store sales rose 9 percent. Excluding gasoline price inflation, same-store sales would have been up 5 percent.
Total sales for the month ended June 1 increased to $5.77 billion from $5.14 billion.
Wal-Mart May same-store sales rise 4.4 percent
Wal-Mart Stores (NYSE: WMT) said total U.S. same-store sales during the four-week period ending May 30 rose 4.4 percent. Excluding fuel sales, same-store sales for the month rose 3.9 percent.
Total sales, which includes Wal-Mart Stores, Sam's Club and international sales, increased 9.8 percent to $31.04 billion from $28.26 billion, a year earlier.
Wal-Mart estimates same-store sales during the five-week June period will rise between 2 percent and 4 percent, excluding fuel sales. The period runs from May 31 through July 4.
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