Costco Wholesale Corp.

New York -- Costco Wholesale Corp. set the July same-store sales pace when it reported Wednesday a better-than-expected gain of 5%, and other discounters answered Thursday with similar positive results.

Issaquah, Wash. -- Costco Wholesale Corp. posted a 5% increase in same-store sales in July, helped by strong sales at its U.S. stores. But the stronger dollar and lower gas prices pressured its results.

Same-store revenue at U.S. locations open was up 7% for the period ended July 29. The figure was flat for its international stores.

Taking out the impact of lower gas prices and a stronger dollar, same-store sales rose 7% for the month. In the U.S., the metric was up 8% while overseas it rose 7%.

Costco’s enhanced its ability to sell 3D televisions with the renewal and upgrade of a relationship with Premium Retail Networks (PRN).

Under the new agreement, PRN’s upgraded in-store media HDTV Network will provide Costco warehouses with a dedicated 3D content channel to support Costco’s 3D consumer electronics education initiatives. PRN is further integrating its HDTV Network platform with Costco’s technology infrastructure to support a wider range of media formats.

New Orleans -- New Orleans has rolled out the red carpet in order to assure the first Costco location in the state.

The city council on Thursday unanimously approved nearly $6 million in financial incentives for a planned Costco in the New Orleans suburb of Carrollton.  
 
The $45 million, 148,000-sq.-ft. Costco marks the warehouse club operator’s state debut, to reportedly be followed by a second in the capital city of Baton Rouge.

The New Orleans store is slated to open late summer 2013.
 

New York -- The slowdown in consumer spending is set to continue for the rest of the year, said Moody’s Investors Service in a new sector report entitled "U.S. Retail: Retail Sales Growth Slows Amid a Cautious Consumer.”

Martin Fry has joined Premier Retail Networks as chief operating officer, the company announced Monday.

New York -- As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates. TJX saw a same-store sales rise of 7% in June, beating the 4.2% rise predicted by analysts. Ross was up 7% for the month, after Wall Street forecast a 4.8% increase. Sales rose 12% to $886 million in June. Both chains raised their second-quarter profit forecasts.

The nation’s convenience stores continued to grow last year creating a peculiar blend of competitive challenges and sales opportunities for Sam’s Club.