Costco Wholesale Corp.

Issaquah, Wash. -- Jim Sinegal, the much-admired CEO and co-founder of Costco Wholesale Corp., plans to step down effective Jan. 1. The chain said its board has elected the company's current president and COO, Craig Jelinek, to succeed Sinegal.

“Costco has a very strong culture and a deep bench of management talent," said Sinegal. "I have total confidence in Craig's ability to handle his new responsibilities and feel we are fortunate as a company to have an executive of his caliber to succeed me as chief executive of Costco."

The leadership transition Costco announced this week was hardly unexpected considering outgoing CEO Jim Sinegal is 75, but it does underscore what arguably has been one of the greatest distinctions between Costco and Sam’s clubs for the past 25 years, namely the stability of senior leadership.

New York City -- Despite low consumer confidence, the volatile economy and a hurricane, many retailers reported better-than-expected sales in August. Hurricane Irene appeared to put a dent in the results of some retailers on the East Coast, but the storm did not appear to do as serious damage as some expected.

Total retail sales rose 4.4%, just missing the 4.6% rise that Wall Street analysts had expected, according to Thomson Reuters. Of the 19 out of the 25 retailers that Thomson Reuters tracks, 11 beat expectations.

ISSAQUAH, Wash. — First it was Steve Jobs, and now Costco’s legendary co-founder Jim Sinegal is stepping down as CEO.

When we think of our neighbors to the north in Canada, there are plenty of iconic symbols and traditions that come to mind: hockey, moose and the Mounties to name a few. When it comes to retail real estate in Canada, something else that could be considered “iconic” would be the fact that many regional malls there often have supermarkets as their major anchor.

By Howard Paster, [email protected]

Outdoor retailer Cabela’s has announced plans to open one of its signature stores in Rogers, Ark., next summer, continuing an influx of retail development that has steadily elevated the region’s shopping options.

A decade ago, the biggest decision facing shoppers who lived in Benton County was which Walmart to shop at. Either that or drive to Fayetteville where an aging mall featured Dillard’s and JCPenney as anchor tenants. Other folks made the two-hour trek to Tulsa, Okla., which boasted more choices, but hardly qualified as a shopping Mecca.