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Unfavorable foreign exchange volatility led Costco Wholesale Corp (NASDAQ:COST) to miss estimates of a 3.7 percent gain in same-store sales, reporting only a 3 percent increase; however net sales at the largest warehouse club operator rose 6 percent to $9.18 billion.
Led by better sales at its Victoria’s Secret lingerie chain, Limited Brands Inc (NYSE:LTD) posted a commendable 7 percent growth in same-store sales, surpassing the 2.7 percent estimated on the street.
In line with its strategy to exit from the gas station business in markets where fuel demand is declining or flat, ExxonMobil (NYSE:XOM) is said to be considering the sale of its German Esso gas stations; numbering more than 1,100, the filling stations could get Exxon over 1 billion euros.
Arena’s (NASDAQ:ARNA) VP of regulatory affairs, Craig Audet, is promoted to Senior VP, Operations and Head of Global Regulatory Affairs in appreciation for his efforts for securing FDA approval of the company’s weight-loss drug Belviq; Audet is also made responsible for investor relations and alliance management.
Barrick Gold’s (NYSE:ABX) huge mining project located on the border between Argentina and Chile is under a threat as Argentina’s Supreme Court strikes down injunctions that have blocked key parts of a law to protect glaciers, a legal setback for Barrick. At the end of Q1 2012, the company had committed about 70% of the previously announced mine construction capital of $4.7-$5.0 billion with first production is anticipated in mid-2013.
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