RETAILING

Price Co. Earnings Plunge: The San Diego-based company said its fiscal third-quarter earnings plummeted 40%, providing further proof of the tough competition in the warehouse club industry. The company reported results one day after it announced plans to merge with rival Costco Wholesale Corp. For the three months ended June 6, Price Co.’s earnings sank to $17.1 million, or 37 cents a share, compared to profits of $28.5 million, or 57 cents a share, a year earlier. Sales in the quarter were flat at $1.7 billion. The company’s stock, which jumped $6.25 on Wednesday after the merger was announced, slipped 25 cents to $38.25 on the NYSE.