Financial Results Releases, Quarterly Dividends, and Completed Divestures - Research Report on CVS Caremark, Costco, Safeway, Sysco, and Tuesday Morning
NEW YORK, November 8, 2013 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
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:
- This is not company news. We are an independent source and our views do not reflect the companies mentioned.
- Information in this release is fact checked and produced on a best efforts basis and reviewed by Ananya Ghosh, a CFA charterholder. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
- This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
- If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco@EquityNewsNetwork.com.
- For any urgent concerns or inquiries, please contact us at compliance@EquityNewsNetwork.com.
- Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research@EquityNewsNetwork.com for consideration.
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Equity News Network. An outsourced research services provider represented by Ananya Ghosh, CFA, has only reviewed the information provided by Equity News Network in this article or report according to the Procedures outlined by Equity News Network. Equity News Network is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Equity News Network makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Equity News Network is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Equity News Network whatsoever for any direct, indirect or consequential loss arising from the use of this document. Equity News Network expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Equity News Network does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Analysts' Corner