Price Co.’s First Store Closure Is in Buffalo
SAN DIEGO — Price Co., the operator of 68 Price Club discount warehouses in the United States and Canada, said it will close its Buffalo, N.Y., outlet Saturday, the first closure in the company’s 15-year history.
Price also released its third-quarter financial results Wednesday, reporting earnings of $25.2 million on revenue of $1.5 billion, compared with a profit of $23.3 million on revenue of $1.18 billion over the same quarter last year. The stock market reacted favorably with Price shares closing Wednesday at $52.50, up $1 in over the counter trading.
This year’s quarterly results were boosted by the consolidation of sales and results from 10 Price Clubs in Canada with the U.S operation.
Last Fall, Price took 100% control of the Canadian stores in which it had previously held a 50% ownership interest.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
