12:45PM New York – Costco, Big Lots and Fred’s reported rising sales. Sears fell after reporting a quarterly loss.

Earnings at Sears and Costco reflected general trend in the economy as more shopper look for bargains. Sears swung to a loss as it battles a loss of customers to Target and discount stores like Wal-Mart and Costco. On the other hand, Costco sales and earnings increased as more members joined the warehouse club.

Big Lots, Inc, a closeout retailer reported first quarter sales increased 2.1% to $1.15 billion from $1.13 billion a year ago. Net income in the quarter increased 16.52% to $34.5 million or 42 cents per diluted share compared to net income of $28.8 million or 26 cents per share, a year ago.

Comparable store sales increase of 3.4%.

Big Lots, Inc stock (BIG: chart) rose $2.63 to $31.18.

Costco Wholesale Corporation warehouse club operator reported third quarter sales increased 13% to $16.26 billion from $14.34 billion a year ago. Net income in the quarter increased 32% to $295.1 million or 67 cents per diluted share compared to net income of $224.0 million or 49 cents per share, a year ago.


Comparable sales in the third quarter rose 6% at the U.S. locations and rose at 16% at the international locations. Overall comparable sales rose at 8%. Membership fees collected in the quarter rose to $350.9 million from $317.7 million in the same quarter a year ago.

Costco operates 538 warehouses, including 394 in the U.S. and Puerto Rico, 75 in Canada, 19 in the U.K., six in Korea, five in Taiwan, eight in Japan and 31 in Mexico.

Costco Wholesale Corporation stock (COST: chart) fell $1.09 to $72.13.

Fred’s, Inc, discount general merchandise stores reported first quarter sales rose 5% to $464.3 million from $442.3 million a year ago. Net income in the quarter decreased 1.36% to $7.3 million or 18 cents per diluted share compared to net income of $7.4 million or 19 cents per share, a year ago.

On a comparable store basis, first quarter sales increased 2.1% compared with 1.9% in the year-earlier period.

Fred’s, Inc stock (FRED: chart) rose 83 cents to $12.29.

H. J. Heinz Company, the maker of Heinz ketchup, Ore-Ida frozen potatoes and other packaged foods reported fourth quarter sales rose 11% to $2.69 billion from $2.41 billion a year ago. Net income in the quarter increased 6.74% to $194.1 million or 61 cents per diluted share compared to net income of $181 million or 55 cents per share, a year ago.

The company expects fiscal 2009 earnings per share between $2.83 and $2.91%, while analysts expect $2.88 per share.

H. J. Heinz Company stock (HNZ: chart) rose $1.24 to $48.81.

Joy Global Inc, a mining and construction equipment maker reported second quarter sales increased 34% to $843 million from $629 million a year ago. Net income in the quarter decreased 7.62% to $72.1 million or 66 cents per diluted share compared to net income of $77.6 million or 70 cents per share, a year ago.

Joy Global Inc stock (JOYG: chart) increased $1.92 to $79.80.

Royal Bank of Canada, a diversified financial services company reported second quarter revenues declined 13% to $4.95 billion from $5.66 billion a year ago. Net income in the quarter decreased 27% to $928 million or 70 cents per diluted share compared to net income of $1,279 million or 95 cents per share, a year ago.