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Solid club channel comps bode well for Sam’s Q2
Costco and BJ’s reported impressive same-store sales for June, and that’s good news for Sam’s Club. Given the strong correlation in performance between Sam’s and its direct competitors it is reasonable to assume Sam’s is on track to easily attain its second quarter same-store sales guidance, which calls for an increase in the range of 3% to 5%. Sam’s posted a first-quarter comp increase of 4.2% but doesn’t provide monthly updates.
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Inland Western acquires Texas shopping center for $35 million
Oak Brook, Ill. -- Inland Western Retail Real Estate Trust announced Wednesday the acquisition of Sawyer Heights Village in a joint venture with RioCan Real Estate Investment Trust.
Sawyer Heights Village, a 107,626-sq.-ft. power center located just outside the central business district in Houston, was purchased for approximately $35 million.