Kroger Co. (KR), a supermarket business whose related stocks include Costco Wholesale (COST) and Wal-Mart (WMT), was trading down by almost 2% on Tuesday afternoon. Volume was quite strong. The fourth-quarter report served as the catalyst for today's action.

Total sales, without the assistance of fuel transactions, went up 2%. Identical supermarket revenues increased 1.2%. Not too invigorating, certainly, but what about the bottom line? Don't search for comfort there, because per-share profit dropped substantially to 39 cents per diluted share from 53 cents per diluted share in the comparable frame.

The earnings season is winding down, but there are still many big name companies due to report, and tomorrow features grocer giant Kroger Co. (KR). Kroger will be reporting its fourth quarter numbers before the market opens.

Going into tomorrow's earnings report, analysts expect Kroger to earn $0.34 per share. Should the company match analyst estimates it would mark a 34% drop from the 53 cents it earned during the same period last year.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Berkshire Hathaway Inc. (BRK.A) announced improved results year over year, with book value up nearly 20%.
• BJ's Wholesale Club Inc. (BJ) Q4 earnings were in line with expectations but guidance for the year fell short.
• Cbeyond Inc. (CBEY) received an analyst's downgrade and lowered price target following its Q4 results.
• Costco Wholesale Corp. (COST) strong Q2 results fell short of analysts' estimates and shares declined.
• Dress Barn Inc. (DBRN) said it swung to a profit in Q2 and same-store sales increased, and it raised its outlook.

Costco Wholesale Corp. (COST), a consumer warehouse entity that competes with BJ's (BJ), Target (TGT), and Wal-Mart (WMT), issued its Q2 missive to the market earlier today. Net sales increased 11%. Earnings per share were 67 cents, which means that growth in the bottom line came out to over 20%. The current quarter contained a charge equal to three pennies, so on an adjusted basis, the income figure was 70 cents. This was a penny below expectations, according to our earnings preview.

Same-store sales, without the effect of gasoline transactions and currency elements, rose 2% in the United States and 10% in the international territories. I wasn't too impressed by the U.S. comps back in December, and I'm not so impressed with them now, either.

U.S. stock futures were mixed Wednesday, as Greece took measures to deal with its financial woes and improve its fiscal burden. In focus this morning is labor market data that could shed more light on the progress -- or lack thereof -- on this all important front.

Challenger, Gray & Christmas Inc. outplacement firm already said Wednesday that the pace of U.S. job cuts slowed last month to the lowest level in 3.5 years.The firm said that 42,090 job cuts were announced in February, 41% less than January's 71,482 cuts, and 77% lower than the year-ago period. It was the lowest total since July 2006. Since peaking in January of last year, monthly job cuts have mostly declined steadily.

The Federal Reserve's next Beige Book report is scheduled to be released this week. This report is a compilation of anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts, and it is released eight times a year. The data comes from interviews with business contacts, economists, market experts, and other sources. The previous report, released in January, showed some improvement in most districts and growth in consumer spending over the holiday period, though unemployment remained high. The December report showed modest improvement in eight of the districts.

Retailers were in the earnings spotlight last week and for the most part made a strong showing of it. Even as the earnings season winds down, some more retailers are scheduled to release quarterly results this week.

Target (TGT), a chain that competes with Costco (COST) and Walmart (WMT), among others, delivered some amazing growth in the fourth quarter. Of course, it might not be so amazing in a sense, considering how far we've come in the bad economic cycle. Shareholders should have been delighted Tuesday by the results, though shares surprisingly dropped almost 3% on the news (by market's close Wednesday, they had climbed back up to $50.99).

According to our retail summary, income jumped over 50% to $1.24 per share. This number beat expectations. Target held up well during the competitive holiday shopping rush. In addition, as mentioned in the press release, the company didn't have to contend with a loss at its credit card segment. It was profitable this time around, thankfully.

Wholesaler Costco Corp. (COST), which I urged caution with on November 30, 2009 at/near $60, has since failed to decisively breakthrough $60, hence it's probably prudent to close a position held now, if you bought shares in the $45-48 range. Here's why:

Costco remains a leader in the value-oriented consumer warehouse segment with an impressive product mix, but its valuation looks a tad high: I'd be a buyer again at lower levels, $51-53.

Shoppers spent more time – and money – in malls last month, with many retailers posting on Thursday strong results in what tends to be the final month of their fiscal year. The rich are doing a better job of prying open their wallets, as RetailMetrics, a research firm that covers the industry, reported that luxury retailers such as Saks (SKS) enjoyed larger gains in January than bargain stores. Signs of life in financial markets have made wealthier consumers more willing to spend ... and we all know that a recovery has to start someplace.

Retailers appear to have been rescued at the last minute, according to data from the International Council of Shopping Centers. Shoppers looking for deals the week before Christmas -- and making up for the day lost to stormy weather on the East Coast -- spent aggressively, sparing the retail sector a dismal 2008-like performance.

The healthy conclusion to the holiday season led to a positive change from November and made December one of only three months (including September and October) in which retail sales increased year-over-year.

Retail sales results are pouring in, and one of the companies finding itself on the smiling side of the data is Costco (COST). The warehouse club reported that higher gas prices and a weak dollar helped a "key sales figure" increase 9% during December. The Street expected Costco to report an increase of 7.9%. Removing higher gasoline prices and the soft dollar from the equation resulted in a sales increase of 4%. U.S. sales increased 2% and international results increased 10%.

Costco (and other warehouse stores) turned in a solid month, as shoppers looked to stretch their dollar as far as possible. When you can go into a store and purchase 50 toilet paper rolls for a reasonable price, why wouldn't you shop at a bulk retailer?

Stocks futures on Wall Street headed lower on Thursday in advance of fresh sales numbers from the nation's retailers and losses in foreign markets. Index futures showed the Dow Jones industrial average off by 29 points, while the Nasdaq and S&P 500 were down by 4.75 and 3.5 points, respectively.

After gains Wednesday, stocks ended the day mixed following the release of minutes from the Federal Reserve's two-day meeting last month. The record showed members differed over whether to continue or end stimulus and expressed concern about the nation's elevated unemployment rate, which they expect to remain high for some time. The Dow industrials added 1.66 points, while the Nasdaq lost 7.62 points and the S&P 500 ended nearly flat.

This week, the world's top retailers will tell investors how the much-discussed holiday season went. Analysts expect a year-over-year gain of 1.3% for stores open at least a year, which of course uses a dismal 2008 as a benchmark.

The holiday shopping season is the last chance retailers get to pump up their financial statements before the close of their fiscal year, which usually comes at the end of January. For some retailers, up to 40% of their revenue comes in the weeks heading into Christmas.

Food stamps are pumping up revenue at retailers across the country. Costco (COST), Wal-Mart (WMT) and others are seeing rushes an hour before funds are credited to electronic benefits transfer cards. Wal-Mart's CFO, Tom Schoewe, has noted the trend, telling Reuters, "Once the clock strikes midnight [on the last day of the month] and EBT cards are charged, you can see our results start to tick up."

Spending via EBT is not only increasing, it generally happens quickly. JPMorgan (JPM), which runs EBT programs for more than 20 states, reports that buyers run through 85% of food stamp funds within the first three days of their availability.

A visionary in the hyper-competitive retail industry, Sol Price saw a huge opportunity -- in the mid 1970s -- to create a bulk discount chain with a membership fee model. It was the Price Club. By the early 1990s, the company merged with Costco Wholesale Corporation (COST), becoming a powerhouse in the discount market.

Unfortunately, Price died this week. He was 93.

Interestingly enough, Price started his career as a lawyer (he graduated from the University of Southern California). It was a great way to learn about the intricacies of different businesses. For example, one of his clients was Seven Seas Locker Club, which had a bulk-retail model for sailors during World War II.