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Costco Companies Placed on CreditWatch Positive Mar 99
Standard & Poors, March 1999
NEW YORK (Standard & Poor's CreditWire) March 31, 1999-- Standard & Poor's today placed its ratings on Costco Companies Inc. on CreditWatch with positive implications (see list below). The CreditWatch placement is based on Costco's better-than-expected operating and financial performance. Year-to-date results are up over a strong 1997 and 1998, with operating income 13% higher in the first half 1999 over the prior year period. The lease-adjusted operating margin rose to 4.3% in fiscal 1998 from 3.4% three years earlier. Costco's improved performance is due to comparable sales increases of 9% for the first half of fiscal 1999, following two years of high single digit comparable sales growth, increased sales of higher-margined goods, and more efficient distribution. Financial ratios have...
Companies mentioned in this report are: Costco Wholesale Corp.
Action: On CreditWatch:Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Costco Wholesale Corp.