"Even as grocers struggle, BJ’s and Costco deliver better profit reports" by Sarah Skidmore, Associated Press | March 4, 2010
PORTLAND, Ore. - A steady stream of shoppers looking for deals on necessities has helped the wholesale club operators Costco Wholesale Corp. and BJ’s Wholesale Club Inc. deliver profit gains while many of their grocery competitors struggle....
It’s a markedly different situation at grocery competitors like Kroger Co. and Wal-Mart Stores Inc., where food sales that once buoyed the businesses are starting to be a drag on profits, thanks to the weak economy and increased price competition.
Like I'm supposed to feel sorry for Wal-Mart now?
And they are the ones who have benefited the last two years from this tanked economy.
Sigh. Whatever, newspaper, whatever.
Costco reported its second-quarter profit rose 25 percent as strong overseas sales growth and higher gasoline prices lifted revenue.
Well I'm glad our pain was their profit, aren't you, American?
BJ’s Wholesale’s fiscal fourth-quarter profit climbed 5 percent, also due in part to higher gasoline prices. Wholesale clubs have been using their size and low-cost format to deliver deals that appeal to cost-conscious consumers. And with their promise of all-around savings for members, they have been insulated from the advertising costs and day-to-day price battles of traditional grocers, which can cut into profits....
Profits at many national supermarket chains are slipping....
And that food dollar isn't going as far, have you noticed that?
Every time you go in there some item or another is up ten, fifteen, twenty cents.
Or the price is the same, the amount you get less.
--more--"
Better go out to eat: Investors savor restaurant chain’s profits
