Issaquah, Wash. -- Costco Wholesale Corp. reported Wednesday that net income for the fourth quarter rose 11% to $478 million, compared with $432 million in the year-ago period. The warehouse club operator also said it is hiking its membership fees 10% as it tries to keep its prices on products low to drive sales and traffic. Revenue rose 17% for the quarter to $28.18 billion. The company opened 20 new warehouse clubs during the year. It plans to open 20 stores in the coming year, about half in the United States.
After strong performance in June, retail same-store sales slowed to 4.8 percent growth in July. Consumer spending plans, including back-to-school shopping, showed signs of stress, Kantar Retail reported. Growth in July was softer than the 7.1 percent same-store sales gain last month, but better than the 2.9 percent gain in July last year. Saks posted the biggest increase in retail sales at 15.6 percent, followed by Tandy Leather Factory at 15 percent, Costco at 10 percent and Neiman Marcus and BJ's Wholesale Club at 9.2 percent. The biggest decliner was Destiny Maternity with a decrease of 6.3 percent, according
New York City -- Warehouse club operators Costco and BJ’s Wholesale Club continue to benefit from high fuel prices and bargain-seeking consumers, with both chain reporting solid results. Costco reported a 10% rise in same-store sales In July, beating Wall Street's expectations for an 8.6% increase. The company’s strongest performance was overseas, with international same-stores sales jumping 22%. Its U.S. sales increased 6%. Removing gas price inflation and stronger foreign currencies, same-store sales gained 5% for the month. Costco said that total revenue for the four weeks ended July 31 rose 15% to $6.74 billion. The warehouse club
Deep discounts and the warmest July weather in decades brought U.S. shoppers to malls, helping many retail chains report healthy monthly sales increases at established stores. July figures provide an early read on consumer demand in the U.S. economy at the start of the back-to-school season, the second-biggest selling period of the year after Christmas. Warehouse club Costco and teen apparel chain Hot Topic posted some of the biggest gains so far. Costco Wholesale Corp reported a 10 percent rise in total July sales at stores open at least a year, beating the analysts' average estimate of an
VANCOUVER, British Columbia — PNI Digital Media on Monday announced an agreement with Walgreens to provide and operate an online stationery service for the Chicago-based pharmacy. The service will allow Walgreens customers to create and customize unique cards, invitations and other printed material, including personalized photo books and photo calendars, wedding invitations and business cards. According to reports, the PNI Digital Media Platform reaches more than 14,000 retail locations around the world, 9,000 of which offer a one-hour pick up service. PNI also is partnered with Costco, Sam’s Club, CVS/pharmacy, Walmart Canada, Tesco and Fred Meyer, among others.
Target, Kohl's and J.C. Penney ranked highest among discounters in consumer perception in the first half of 2011, according to YouGov BrandIndex. The company interviews 5,000 people each weekday from a representative U.S. population sample, more than 1.2 million interviews per year. Here's YouGov’s Retail Buzz scores for discounters in the first half of 2011: Target (33.9), Kohl's (29.5), J.C. Penney (23.9), Costco (23.3), Dollar Tree (16.2), Wal-Mart (15.7), Sam's Club (15.4), Big Lots (15.4) and Dollar General (13.8).
Costco Wholesale hasn't given up on the idea of selling liquor in Washington. Having lost last year at the polls, the country's third-largest retailer is back with another initiative for voters to consider. Initiative 1183, which is likely to be on the ballot this fall, resembles last year's effort in that it would push the state out of the liquor business, forcing it to auction off its stores and distribution center.
The UPS Store network announced a Facebook contest on Monday called "The Promotion Promotion." The contest, designed to arm small business owners with tools and resources to promote their business, runs through August 31st. The grand prize winner will receive an integrated marketing campaign valued up to $50,000. The Promotion Promotion sweepstakes also will award up to $3,000 in weekly prizes, including an Apple iPad 2 with Square and gift cards from American Express, The UPS Store and Costco. Contestants can enter for a chance to win the weekly prize drawing by dropping their name into a virtual fishbowl.