On Wednesday, Costco Wholesale Corp reported its fiscal third-quarter financial report which showed no growth in the quarters comparable sales at its U.S. stores. This happened for the very first time in about six years and was a result of weak April sales.
Sales at established stores in the U.S remained flat which did not meet the expectation of the analysts who predicted 1.9 percent growth. Last time comparable sales had dropped in its U.S stores in 2009.
Coca-Cola Co. is joining hands with a Mexican company, Arca Continental, based in Monterrey to manage bottling of its beverages for some parts of the United States. The beverage giant is increasing its dependence on franchise operators which will make and distribute drinks for the company. Elaborate terms of the deal were however not disclosed.
Arca Continental SAB is the second biggest bottler of Coca Cola in Latin America. It will now oversee parts of Texas and some parts of Oklahoma, New Mexico and Arkansas.
All ears are stretched out to listen to any indication from the Fed officials about the next possible interest rate increase. The policymakers in the United States sounded highly optimistic about the projection for a spike in the rates in the April meetings minutes which were released last week. The US dollar and the US and European bonds yields scaled higher as a result.
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