Price Co. Reports Net Up 25% in Second Quarter
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The Price Co. on Thursday reported that net income rose 25% to $16.7 million and revenue rose 28% to $678.7 million for the second quarter ended March 15.
For the first two quarters of 1987, net income rose 25% to $39.5 million and revenue rose 27% to $1.7 billion. Comparable sales in Price Clubs that were operating during the same period last year increased by 19%.
The San Diego-based company expects to open nine new West Coast warehouse stores this year. An additional seven are expected to open on the East Coast during the year.
Price Co. now operates 27 Price Clubs in the United States and has one joint venture operation in Canada.
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