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Hotel workers on strike, Costco results under review, Tronc is no more
Results under review Despite a strong earnings report, Costco shares dropped 5.5 percent after the warehouse club said it will review past financial reports because of possible deficiencies. Costco reported quarterly earnings of $2.36 per share on revenue of $44.41 billion. Online sales jumped more than 26 percent. The company said it will look at earlier reports because of a “material weakness” detected in its IT systems. What’s in a name? It’s Tronc no more.
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By San Francisco ChronicleResults under review Despite a strong earnings report, Costco shares dropped 5.5 percent after the warehouse club said it will review past financial reports because of possible deficiencies. Costco reported quarterly earnings of $2.36 per share on revenue of $44.41 billion. Online sales jumped more than 26 percent. The company said it will look at earlier reports because of a “material weakness” detected in its IT systems. What’s in a name? It’s Tronc no more.