Strategy

Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that profit for the quarter ended Nov. 20 rose 2.6% to $320 million, from $312 million a year earlier. The wholesale club operator attributed the lackluster performance, which missed Wall Street expectations, to higher costs, which offset increased revenue.

Costco's revenue rose to $21.18 billion, missing analysts’ predicted $21.29 billion in revenue.

Same-store sales rose 10%; excluding gas prices and strengthening foreign currencies, the figure rose 7%.

MOORESVILLE, N.C. — Lowe’s announced that it plans to open a new customer support center in Albuquerque, New Mexico. The center is expected to be operational during the first quarter of 2012 and is estimated to create 250 jobs by March and a total of 600 jobs by the end of 2013.

New York City -- Forever 21 signed an agreement Tuesday to open a flagship in Beijing, China, one part of a plan by the fast-fashion retailer to expand into the world’s largest emerging consumer market, according to the Los Angeles Times.

The Los Angeles-based chain will open a 24,000-sq-.ft. store in a multi-story mall located in Beijing’s central shopping district, Wangfujing, with additional stores set to open in Shanghai and Hong Kong, the report said.

Wal-Mart Stores said it would offer better financial education and investment options to its associates, following its agreement, along with Merill Lynch, to pay a total of $13.5 million to settle a long-running class-action lawsuit alleging the retailer and its retirement plan administrator breached their fiduciary duty toward nearly 2 million past and present Walmart workers in the company’s 401(k) plan, Forbes.com reported.

Houston -- ATM owner Cardtronics said Thursday it has forged a long-term agreement in Puerto Rico with National Lumber & Hardware to install ATMs at 38 locations for the home improvement and interior design retailer.

National Lumber & Hardware is a division of Pitusa, the island’s largest Puerto Rico-based retailer.

MINNEAPOLIS — While its impossible to compare Walmart's monthly performance with Target's, as Walmart no longer provides monthly sales, it can be assumed that Target's less-than-impressive comps increase was affected by stiff Black Friday competition.

Washington, D.C. -- A report released Thursday said that consumer confidence in the U.S. was little changed for a second week, holding at a level typically reached during past recessions.

The Bloomberg Consumer Comfort Index was at minus 50.3 in the period ended Dec. 4, after a reading of minus 50.2 the prior week. The gauge has been at minus 50 or worse for 11 of the past 12 weeks.

PLANO, Texas and NEW YORK — JCPenney is looking to capture its share of the Martha Stewart brand that has become synonymous with Kmart, by launching a strategic alliance with Martha Stewart Living Omnimedia to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice.