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Retailers turn in mixed results for May; Costco, Macy’s and Saks shine
New York City -- A sluggish economy, cool weather and high prices at the pump tempered retail sales in May, as retailers reported mixed results for the month. Retail Metrics projected an increase of 5.1% for the 25 chains tracked, which would mark the 21st straight monthly gain from September 2009.
Among the May standouts was Costco Wholesale Corp., with a 13% rise in same-store sales. Analysts were expecting an 11.2% increase. However, without gasoline sales and beneficial foreign exchange rates, Costco’s same-store sales would have been 7%.
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Daffy’s opens store in Bay Plaza Shopping Center
Bronx, N.Y. -- New Rochelle, N.Y.-based Welco Realty Inc., an X Team partner, announced that Daffy’s opened its first store in Bronx, N.Y.
The retailer opened a store in Bay Plaza Shopping Center, one of the largest strip shopping centers in New York City. Welco Realty negotiated the deal on behalf of the landlord, Prestige Properties & Development Co.
