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Costco falls short on November same-store sales
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%.
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Stuart Weitzman appoints new global president
Stuart Weitzman Holdings has named François Kress as the company’s global president.
In this newly created position, Kress will oversee all aspects of the global retail and wholesale business plus take on the role of strategic leader for new initiatives and brand extensions. He will report directly to Wayne Kulkin, CEO, and will be based out of international headquarters in New York City.