June same-store sales for Costco drop 6 percent
Costco Wholesale (Nasdaq: COST) said its June same-store sales dropped 6 percent as it experienced softness in non-food, discretionary categories. Excluding declining gas prices and the stronger dollar, same-store sales edged up 1 percent.
Total sales for the period ended July 5 slipped 4 percent to $6.88 billion versus $7.15 billion last year. Both the current and prior-year's monthly results included 34 days in the United States and Canada.
Firm initiates coverage on Gaiam
Research firm Boenning & Scattergood initiated coverage on Gaiam (Nasdaq: GAIA) on July 10. It rated the company as "outperform."
--Compiled by Wendy Geister
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