business news in context, analysis with attitude

• Costco Wholesale Corporation reported April net sales of $4.94 billion, an increase of 12 percent from $4.43 billion in the same four-week period last year. Same-store sales in the US were up six percent, while international same-store sales were up 10 percent.

• Whole Foods, citing high store opening costs, reported that its second quarter net income fell 11 percent to $46 million, from $51.8 million in the year-ago period. Revenue rose 12 percent to $1.46 billion from $1.31 billion. Same-store sales rose 6 percent in the period.
KC's View:
MNB user Michael Denk wrote us the following email yesterday…

From my experience reading your newsletter (which I thoroughly enjoy, by the way), I have noticed a fairly consistent, but not necessarily threatening, bias on your part that tends to characterize those of us who work in finance as being mere visor wearing, green lampshade using bean counters, without an ounce of creativity in our left-brain oriented minds and bodies. So perhaps I am reinforcing that stereotype by asking the following question, but I can't resist....

Why do you call the segment of MNB in which you summarize financial earnings announcements "The Balance Sheet" when technically all of the figures you reference: sales/revenues, earnings/income, profits, etc. are line items from a "P&L" or "Income Statement", not a balance sheet?

Because when we started out five and a half years ago, that was the best we could come up with.

But we see an opportunity here – another T-shirt contest!

We’re happy to use another name for this section, so we’re inviting reader submissions and suggestions. Make it pithy, funny, pointed, sardonic…whatever. Just make it unique. Send us an email. And the winner will get a limited edition MNB T-shirt.

One other thing. We must not be too threatening to the CFO community. Because in about a week, we’ll have the privilege of speaking at the annual Food Marketing Institute (FMI) Financial Executives Conference in Savannah.