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Costco Wholesale Corp.

  • Study: Kate Spade provides best online customer service in September

    New York -- Kate Spade provided the best overall customer service in Sept. 2014. This marks the retailer’s first time topping Stella Benchmarks from customer service research firm Stella Service in 2014. The retailer ranked in every area measured across fulfillment and customer care.   

  • DDR and Blackstone JV closes on $2 billion 71-center purchase

    Beachwood, Ohio --DDR Corp. and an affiliate of Blackstone Real Estate Partners VII announced that a joint venture formed by the pair has closed on the acquisition of 71 shopping centers previously owned by American Realty Capital Properties for $1.93 billion.

  • Costco to launch online China store with Alibaba

    Issaquah, Wash. -- Costco Wholesale Corp. will enter China for the first time through the opening of an online flagship store on Alibaba Group’s Tmall Global platform. Tmall Global allows overseas brands and retailers to establish presence on the Alibaba third-party e-commerce platform Tmall.com without the need for physical operations in China.  

  • Costco and Alibaba do China deal

    Costco has extended its product offering to shoppers in mainland China by establishing a storefront on the Tmall e-commerce platform operated by Alibaba Group.

  • Costco Q4 profit rises 13%, topping forecasts

    Issaquah, Wash. -- Costco Wholesale Corp. on Wednesday reported fiscal fourth-quarter net income of $697 million, exceeding Wall Street forecasts, amid strong back-to-school sales and higher membership fees. The retailer reported net income of $617 million in the year-ago period.

    Total sales for the quarter, ended Aug. 31, rose 9.3% to $35.52 billion, also better than expected.

    Same-store sales rose 7% (excluding fuel).

  • Costco sales rise in fourth quarter

    Costco reported a rise in sales and same-store sales for the fourth quarter.

    Net sales for the quarter were $34.75 billion, an increase of 9% from $31.77 billion in fiscal 2013. Same-store sales for the total company increased 6%, while U.S. same-store sales also rose 6%.

    Net income for the quarter was $697 million, or $1.58 per diluted share, compared with $617 million, or $1.40 per diluted share, in the year-ago period.

  • Positive Outlook for the Northeast Retail Market Continues

    By Matthew K. Harding, president, Levine Management

    Moving into the final months of 2014, the outlook for retail in the Northeast remains quite positive. We are seeing demand from national, local and franchise companies across a broad range of categories.
     

  • Costco stores in Canada to stop accepting American Express

    New York -- Costco Wholesale Corp will stop accepting American Express cards at its stores in Canada, effective January 1, 2015.

    “The credit card relationship between American Express and Costco Wholesale Canada will not be renewed when it expires on Dec. 31,” the company stated in an e-mail to Canadian customers.

    Costco’s U.S. locations will continue to accept American Express Cards, with the exception of TrueEarnings and American Express Platinum Cash Rebate cards issued in Canada, the chain said.

  • Costco and L Brands shine in August; Gap disappoints

    New York -- Costco Wholesale Corp. and L Brands Inc. were among the retailers that posted stronger-than-expected sales in August, fueled in many cases by back-to-school promotions.

    Costco led the pack, reporting a 7% gain in August total same-store sales, ahead of views for a 4.9% gain. U.S. same-store sales, excluding the negative impacts from gasoline price deflation and foreign exchange, rose 7% as well. Top-performing categories at Costco included housewares, small appliances, apparel, fresh foods and food sundries.

  • eMarketer: Back-to-school drives $50 billion in summer e-commerce sales

    New York – Shoppers spent $50.17 billion online during the 2014 back-to-school shopping season, which represents a 16% gain from $43.26 billion in the year-ago period, according to eMarketer. Online commerce during the months of July and August — the main months for back-to-school shopping — accounted for approximately one-sixth of retail ecommerce sales for the year, according to eMarketer estimates, as well as 70.5% of retail ecommerce sales in third quarter 2014.

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