Posted at 10:59 a.m., Tuesday, March 13, 2007
Falling sales on Kaua'i hurt Cost-U-Less earnings
Advertiser Staff
Cost-U-Less Inc., a Bellevue, Washington-based retailer, said profit in the three months ended Dec. 31 fell to $913,000 from $1.13 million a year earlier, in part because of falling sales on Kaua'i, where its warehouse store faces competition from a new Costco Wholesale location."Reporting a lower EPS, year over year, is never a good thing," said J. Jeffrey Meder, the Company's President and CEO, said in a news release.
"But sometimes numbers can be misleading or tell only part of the story. The rest of the story would suggest that we actually performed very well, particularly over the holidays, with one exception, Kauai."
