Finance & Capital Management

Issaquah, Wash. -- Costco Wholesale Corp's November same-store sales missed analysts' expectations, hurt by lower gasoline prices and weak foreign currencies.

Same-store sales were up 2% in the four weeks ended Dec. 1, including the impact of fuel sales and foreign exchange, short of the 3% gain analysts expected.

November net sales rose 5% to $8.78 billion.

Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 4%.

Sharon, Pa. -- Casual-dining brand Quaker Steak & Lube announced an area development agreement with Bosselman Food Services to open two locations in Nebraska and one in Iowa, which will mark the brand's entrance into the state of Nebraska. Bosselman Food Services plans to open one Quaker Steak & Lube restaurant per year in 2014, 2015 and 2016.

"We look forward to the opening of our first restaurant next year, and are excited for a great future with Quaker Steak & Lube," said Charlie Bosselman, president of the Bosselman Cos.

New York -- New York & Co. reported a loss of $3.4 million for the quarter ended Nov. 2, compared with a loss of $3.8 million in the same period last year.

Sales fell to $217.6 million, from $219.3 million, and same-store sales increased 3%.

Although sales at Express during Thanksgiving week exceeded last year's, results did not meet the company’s expectations and it’s bracing itself for a tough holiday shopping season.

The specialty retail apparel chain operating approximately 630 stores reported net sales of $503 million, an increase of 7% from $468.5 million in the third quarter of 2012. Comparable sales increased 5% versus a decline of 5% in last year's third quarter. E-commerce sales increased 29% to $71.2 million this quarter, above last year's third quarter increase of 21%.

Sears Holdings chairman and CEO Eddie Lampert has pared down his stake in the retailing company, according to a regulatory filing Tuesday.

A Securities and Exchange Commission filing showed that Lampert reduced his stake in Sears Holdings to 48.4%, from a 55.4% stake reported in March. That leaves him with about 51.6 million shares in the company, whose stock was valued at $50.38 per share Wednesday morning on the NASDAQ, down from its opening price of $52.62.

New York -- Uniqlo, a division of Japan’s Fast Retailing, announced the promotion of Lawrence (Larry) H. Meyer to CEO of Uniqlo USA.
 
Meyer left his post as executive VP of Forever 21 to join Uniqlo in January 2013 as COO. Prior to Forever 21, he served as CFO of Gymboree.

In his new role, Meyers will oversee the day-to-day operations of Uniqlo and hold responsibility for the ongoing development of the company’s retail footprint in the USA.
 

Minneapolis -- Christopher & Banks Corp. reported that net income for the quarter ended Nov. 2 rose to $8.6 million, from $3.6 million in the same period last year.

Sales edged up to $118.1 million from $117.3 million, and same-store sales increased 4.9%.

During the quarter, the retailer operated an average of 7.3% fewer stores than during the comparable period last year, reflecting its store rationalization program.

Oak Brook, Ill. -- The Inland Real Estate Group of Cos. has been named the recipient of the 2014 Torch Award for Marketplace Ethics by the Better Business Bureau.

The award was presented at the 17th Annual BBB Awards Luncheon Ceremony at the InterContinental Hotel in Rosemont, Ill.  

This is the second Torch Award for Marketplace Ethics that Inland has received from the BBB. The company was presented with its first Torch Award for Marketplace Ethics in 2009. Last year’s winner was The Boeing Co.