Business News

Costco Cranks Another Good Quarter

Costco quarterly profits rose to $516 million, from $473 million last year, as the company benefits from low gas prices, strong store sales and membership fees. Costco is the second-largest retailer in the U.S. behind Wal-Mart and one of the largest fuel retailers in the country. Last month, the company paid a special one-time dividend of $5 a share, or $2.2 billion. (The Street)
They are on the front lines of the big Avian Flu outbreak but that did not hold them back this quarter. Sanderson Farms, the third-largest U.S. poultry producer, reported an 8.5% rise in quarterly net sales, helped by higher demand for chicken from restaurants. Net sales rose to $716.6 million from $660.7 million. The company's profits rose to $71.2 million, from $51 million a year earlier.  (Reuters)
The satellite radio operator, Sirius XM, will have to face a class action lawsuit involving royalties for pre-1972 songs. Members of the 1960s group The Turtles had sought class action status in the case, which claims copyright infringement because no royalties are paid on those songs. (CNBC)

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