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Shinsegae Simon opens Busan Premium Outlets
Busan, South Korea — Shinsegae Simon, a joint venture between Shinsegae Group and Simon Property Group has announced the grand opening of Busan Premium Outlets, its third Premium Outlet Center in South Korea. The first two are located in Yeoju and Paju.
The new center is located on the southeastern tip of the Korean Peninsula and features 180 outlet stores. Fashion brands include Coach, Ermenegildo Zegna, Isabel Marant, Jill Stuart, Marc Jacobs, Roberto Cavalli and Vivienne Westwood. -
Sales at Costco increase
August seems to have delivered a mixed bag to various retailers, but Costco seems to have fared well with reported net sales of $7.95 billion for the four weeks ended Sept. 1, an increase of 7% from $7.44 billion during the prior-year period.
Comparable-store sales in the U.S., adjusted to exclude changes in gasoline prices, increased 5% for August and for the fourth quarter and increased 6% for the 52-week period.
For the fourth quarter, the company reported net sales of $31.8 billion, an increase of 1% from $31.5 billion in the prior-year quarter.