Marketing

Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that net income for the quarter ended May 6 surged 19% to $386 million, from $324 million in the same period last year.

Revenue rose 8% to $22.3 billion from $20.6 billion, beating Wall Street’s expected $22.1 billion in revenue. Same-store sales increased 5%.

The company said it plans to open six additional warehouse clubs before the end of fiscal 2012.
 

Juan Pablo Montoya and the Target team fell short of claiming a spot in the Sprint All-Star race at the Sprint Showdown on Saturday night. The No. 42 Target Chevrolet was in contention for a top transferring spot until a mishap in the final segment relegated it to a fifth-place finish.
 

CINCINNATI — Macy's is offering customers in China access to an assortment of its highly regarded private brand merchandise through a Macy's section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., Ltd.

Cincinnati -- Macy's Inc. will start selling some of its private brand merchandise directly to shoppers in China through a deal with an online retailer there.

The chain said it will the goods through a Macy’s section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., a Chinese e-commerce firm and parent company of Omei.com

New York -- 7-Eleven Inc. said that it plans to add 630 new stores in the United States and Canada by yearend. In 2011, the chain added some 600 locations, with the stores either built, acquired or transitioned from another business to the 7-Eleven banner

The University of Arkansas RFID Research Center will finally receive a home of its own. The center, which was founded in 2005 as part of the Information Technology Research Institute in The Sam M. Walton College of Business at the University of Arkansas will be housed at 1637 Fred Hanna Drive in Fayetteville. This will be the third location for the research center since it was founded.

TOPEKA, Kan. — Net sales at Collective Brands during the first quarter increased 5% to $912.1 million over the same period last year, driven in part by an 8.1% increase in comparable-store sales. The company reported net income of $33.2 million, or 54 cents per share, compared with $26.4 million, or 42 cents per share, in the first quarter of 2011.

Indianapolis -- Hhgregg Inc.'s fiscal fourth-quarter earnings jumped as the chain collected $39.6 million in life insurance proceeds due to the death of executive chairman and former CEO Jerry W. Throgmartin.

Throgmartin, who died Jan. 22 at age 57, served as chairman and CEO of Hhgregg from 2003 to 2009 and led it through a 2007 initial public offering of stock. Hhgregg said Wednesday it collected the proceeds from a "key man" life insurance policy.