Strategy

October was a good month for Costco, which reported growth in same-store and total sales.

The club retailer posted a 4% increase in U.S. same-store sales for October, excluding gasoline price deflation and currency fluctuation. sThe comp increase was 5% for the whole company.

For the month, the company saw $8.78 billion in net sales and $19.53 billion over the four weeks. Though Costco’s U.S. sales saw a slight increase, its Canadian stores saw an 8% decrease in same-store sales for the month and a 9% decline over four weeks.

L Brands Inc. kept its hot streak alive in October by posting yet another impressive increase in same-store sales.

The specialty retailer reported a 5% increase in same-store sales for the four weeks ended Oct. 31. Net sales also increased to $735.6 million, compared to net sales of $700 million for the four weeks ended Nov. 1, 2014.

Pat Riley, the three-time NBA Coach of the Year honoree, will tip off Chain Store Age’s 52nd annual SPECS conference with a not-to-be-missed keynote address on Monday, March 14, 2016, at the Hilton Anatole in Dallas. And on Tuesday, keynoters — and political pundits — Tucker Carlson and Paul Begala will break down the 2016 presidential race.

Saks Fifth Avenue Off 5th will open a store at Newcity, the newly opened mixed-use development located in Chicago’s Lincoln Park neighborhood.

The 40,000-sq.-ft. store, which will be the seventh Off 5th location in Chicago, is scheduled to open in May 2016. The off-price retailer recently announced another spring 2016 store opening in Chicago, on State Street at the corner of State and Madison.

The Bon-Ton Stores Inc. has a new finance chief to help the company strengthen its balance sheet.

The retailer has named Nancy A. Walsh to the position of executive VP, CFO of the company, effective Nov. 9. Walsh will have responsibility for Accounting, Treasury, Tax, Credit, Investor Relations, Legal and Internal Audit.

Establishing an Internet of Things (IoT) technology strategy may not be easy, but can offer substantial rewards to retailers who overcome the inevitable challenges.

“There is a vast opportunity to use IoT technology to connect retailers with their assets and consumers,” said Michael Colaneri, VP of sales for restaurant, retail and CPG, AT&T, during an interview with Chain Store Age. “But it requires business process re-engineering to connect multiple edgepoints.”

Target is taking steps to right-size its portfolio by closing 13 money-losing stores on Jan. 30, according to a report from the Minneapolis St. Paul Business Journal. The decision to close a Target store is not made lightly,” spokesperson Kristy Welker told the publication. “We typically decide to close a store after careful consideration of the long-term financial performance of a particular location.

Whole Foods is trying to get its groove back, but after reporting weak fourth quarter results it is not clear when that will be as the company expressed concern about the competitive climate and the impact on its profit margins.