What to Watch for Tuesday
Costco is expected to post stronger quarterly results that may show how well the warehouse club operator was able to manage profits during the end of 2012 and beginning of 2013. Boosted by higher gasoline prices as well as strong sales of fresh food and consumer electronics, Costco was among several U.S. chains that last week reported better-than-expected sales for February, when consumer confidence about an improving job market offset the impact of higher taxes.
Deputy Secretary Ash Carter and acquisition chief Frank Kendall lead a list of top officials from the U.S. Defense Department to speak at the McAleese/Credit Suisse conference that will highlight the tough budget challenges facing the Pentagon given sequestration and the failure of Congress to pass a formal budget for fiscal 2013.
Chevron executives speak to analysts in New York where they are expected to spell out details of new projects and give an update on plans for the next two years as the company gears up for a slew of new production to come on line in 2014 in the Gulf of Mexico and off the coast of Australia.
Wal-Mart Chief Financial Officer Charles Holley provides an update on the world’s largest retailer’s financial priorities when he speaks at the Bank of America Merrill Lynch 2013 Consumer & Retail Conference.
Empire Co , the parent company of grocer Sobeys, is expected to report a dip in revenue as Sobeys faces some competition from new stores from Wal-Mart and Target. However, Empire’s deal to supply Target stores with groceries makes it a better bet than some other Canadian retailers.
Chief executives of Carnival, Royal Caribbean, Norwegian, Holland America, MSC and Silversea cruise lines hold round-table discussions on the state of the industry at the annual Cruise Shipping Miami conference.