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Sam’s Club gets serious about e-commerce
Former Barnes & Noble executive Jamie Iannone was named president and CEO of Samsclub.com in a restructuring that elevates and integrates Sam’s Club’s online business into the Walmart’s Global eCommerce business unit based in California.
Iannone previously served as president of digital products at Barnes & Noble and oversaw the book seller’s Nook Media unit. He also spent seven years at eBay, earned a bachelor’s degree at Princeton and an MBA at Stanford.
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Costco tops estimates in December
Issaquah, Wash. - Costco Wholesale Club’s same-store sales rose 3% in December, beating analysts' estimates of a 1.8% gain. The metric climbed 5% in the U.S. and inched up 1% overseas for the five weeks ended Jan. 5.
Total monthly revenue increased 6% to $11.53 billion.
For the 18-week period, same-store sales were up 3%. In the U.S. the metric rose 4% and 1% internationally.