General Mills Misses EPS; Costco Beats with $6.48
General Mills reports 71-cent EPS, down from 86 cents. Costco posts $6.48 EPS, up from $5.87. Canadian retail sales rose 0.6% in June.
Key points
- General Mills Q1 EPS was 71 cents, down from 86 cents prior year.
- Costco Q4 EPS was $6.48, up from $5.87 prior year.
- Canadian retail sales rose 0.6% to $74.3 billion in June.
General Mills reported first-quarter earnings of 71 cents per share, a decline from 86 cents in the prior-year period. The company’s performance contrasts with Costco Wholesale, which posted fourth-quarter earnings of $6.48 per share, an increase from $5.87 in the same quarter last year.
Canadian retail indicators released this week showed a 0.6 percent increase in sales to $74.3 billion in June, according to data cited by Baystreet.ca. This growth was driven by increases in seven of nine subsectors, with general merchandise retailers leading the gain.
Consumer Staples Show Mixed Results
Paychex delivered first-quarter earnings of $1.33 per share, exceeding the $1.22 reported in the prior-year quarter. Darden Restaurants also outperformed the prior year, reporting first-quarter earnings of $2.06 per share compared to $1.97.
Cracker Barrel Old Country Store reported fourth-quarter earnings of 20 cents per share, a significant drop from 74 cents in the prior-year quarter. AutoZone, however, reported fourth-quarter earnings of $54.97 per share, up from $48.71 in the same period last year.
Canadian Employment Data Shows Stability
Payroll employment in Canada increased by 4,800 jobs in June, representing a negligible 0.0 percent change. This follows a 45,000-job increase in May, indicating a slowdown in hiring momentum.
On a year-on-year basis, payroll employment rose by 155,000 jobs, or 0.8 percent, in June. The data reflects a stable labor market with minimal short-term fluctuations in headcount.
Tech And Industrial Earnings Vary
BlackBerry Limited reported second-quarter earnings of 59 cents per share, slightly above the 57 cents recorded in the prior-year quarter. Vecima Networks posted fourth-quarter earnings of 26 cents per share, a substantial increase from 6 cents in the same period last year.
Worthington Enterprises reported fourth-quarter earnings of 76 cents per share, compared to 74 cents in the prior-year quarter. MillerKnoll, however, reported first-quarter earnings of 35 cents per share, down from 45 cents in the prior-year period.
