NEW YORK, November 8, 2013 /PRNewswire/ --
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Today, Analysts' Corner announced new research reports highlighting CVS Caremark Corporation (NYSE: CVS), Costco Wholesale Corporation (NASDAQ: COST), Safeway Inc. (NYSE: SWY), Sysco Corp. (NYSE: SYY), and Tuesday Morning Corp. (NASDAQ: TUES). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
CVS Caremark Corporation Research Report
On November 5, 2013, CVS Caremark Corporation (CVS Caremark) reported its financial results for Q3 2013. The Company's net revenues for the quarter went up 5.8% YoY to $32.0 billion, while revenues in the Retail Pharmacy Segment went up 5.0% YoY to $16.3 billion. Same store sales went up 3.6% YoY, with pharmacy same store sales up 5.7% YoY and front store same store sales down 1.0% YoY during the quarter. CVS Caremark President and CEO Larry Merlo commented, "Our third quarter results reflect strong operating performance across the enterprise. Adjusted earnings per share excluding the settlement gain exceeded the high end of our guidance by 2 cents per share, primarily reflecting better-than-expected third quarter performance in the PBM. We are well on track for another year of strong growth in 2013." The Full Research Report on CVS Caremark Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Costco Wholesale Corporation Research Report
On October 29, 2013, Costco Wholesale Corporation (Costco) announced that its Board of Directors has declared a quarterly cash dividend on Costco common stock of $0.31 per share. According to Costco, shareholders of record at the close of business on November 15, 2013 will be paid the quarterly dividends on November 29, 2013. The Full Research Report on Costco Wholesale Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Safeway Inc. Research Report
On November 4, 2013, Safeway Inc. (Safeway) reported that it has completed the sale of the net assets of Canada Safeway ULC (formerly Canada Safeway Limited) to Sobeys Inc., in compliance with the asset purchase agreement declared on June 12, 2013, and the consent agreement with the Competition Bureau announced on October 22, 2013. Commenting on the divesture, Robert Edwards, Safeway President and CEO said, "We are pleased to have completed the sale of our Canadian operations to Sobeys. We believe this represents a significant contribution to shareholder value." The Company stated that the transaction proceeds of CAD5.8 billion in cash (an estimated CAD4.0 billion after taxes and expenses) and $400-$450 million in U.S. tax benefits related to the exit of the Chicago market will be utilized to settle $2.0 billion of debt, with the majority of the remainder to be used to buy back stock. In addition, Safeway stated that a part of the proceeds may also be used to invest in growth opportunities. The Full Research Report on Safeway Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Sysco Corp. Research Report
On November 4, 2013, Sysco Corp. (Sysco) reported its Q1 FY 2014 financial results (period ended September 28, 2013). During the quarter, Sysco's sales came in at $11.7 billion, up 5.7% YoY, while operating income remained flat YoY at $478 million. Further, the Company's diluted EPS came in at $0.48, down 2.0% YoY. Bill DeLaney, Sysco's President and CEO, commented, "Our first quarter results were achieved in a market environment that remains very challenging for many of our customers, especially those who operate in the casual dining restaurant segment. While overall sales growth compared to the prior year was solid, gross profit growth was modest. Particularly encouraging, however, was our expense management performance which was largely driven by successfully executing our broad array of ongoing Business Transformation initiatives. Looking forward, strong execution of both our business plan and key strategic initiatives is paramount to our providing best in class service to our customers and achieving our financial objectives for fiscal 2014." The Full Research Report on Sysco Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
Tuesday Morning Corp. Research Report
On October 30, 2013, Tuesday Morning Corp. (Tuesday Morning) reported financial results for Q1 FY 2014 (period ended September 30, 2013). Tuesday Morning's net sales increased 6.3% YoY to $183.7 million. Net loss for Q1 FY 2014 was $12.0 million or $0.28 per share, compared to a net loss of $7.0 million or $0.17 per share in Q1 FY 2013. Michael Rouleau, CEO of Tuesday Morning, commented, "While this is a year of significant transition for Tuesday Morning, I believe our first quarter results reflect early positive customer response to the initial changes we are making. Though we've made great progress thus far, there is much work yet to be done in the coming quarters." The Full Research Report on Tuesday Morning Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at:
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