FINANCE

Costco Wholesale Corp. turned in a strong performance in August, helped by a big increase in online sales.    Net sales rose 10% to $9.8 billion for the month of August, from $8.9 billion during the similar period last year. Total same-store sales rose 7.3%, higher than the 6.1% Wall Street expected. Same-store U.S. sales rose 7.4%, easily topping estimates for a 4.9% to 5.3% increase. Costco's comparable e-commerce sales jumped 26% in August.   

Chico's FAS' profit and revenue declined in the second quarter amid same-store declines across all its banners.      The women's apparel retailer also named Mary van Praag as president of Soma, effective September 5, 2017.  She most recently served as CEO of Perricone MD. Prior to that, she held senior executive roles at Coty, and Johnson & Johnson's beauty division.  

One of the nation's largest fragrance retailers is shrinking its store portfolio.   Perfumania has begun store closing sales at 65 stores. The nationwide sale is being conducted by Gordon Brothers and its joint venture partner, Hilco Global.  

Simon Property Group raised eyebrows in the real estate and retail communities this week with the filing a suit that challenged Starbucks’ decision to close 78 Teavana stores in Simon malls. All retailer 379 of the tea shops are slated for closure through next year.  

The parent company of such brands as Famous Footwear, Sam Edelman, and Allen Edmonds topped the Street in its second quarter, fueled by a strong back-to-school selling season.    Caleres reported that its adjusted net earnings rose 4.4% to $20.6 million. Adjusted diluted earnings a share were 48 cents, which topped estimates of 44 cents.  

Going private may take some pressure off a company, but it is not without its risks.   In June, the Nordstrom family, which owns 31.2% of the department store's stock, announced it planned to explore taking the company private. But in its latest quarterly filing with the Securities and Exchange Commission, Nordstrom executives warned of the potential risks that might come with a move, reported Puget Sound Business Journal.   

Amazon isn't as dominant as is widely believed — at least not according to a new report from Moody's Investor Services.   

Although up against a soft comparative from the prior year, it is fair to say that Best Buy has produced a very robust set of second quarter numbers. The 4.9% increase in domestic sales underlines that the company is more than holding its own in the electricals market and should put pay to the oft repeated fiction that retailers of its ilk will struggle to survive in the era of Amazon.  

Best Buy reported better-than-expected profit and sales for its second quarter amid growth for smartphones, connected home and wearable devices. But the retailer added a slight caveat going forward.   Best Buy's same-store sales rose 5.2% in the quarter ended July 29, easily topping analysts’ estimates for a 2.1% gain. But on the chain's quarterly call with analysts, CEO Hubert Joly said that he did not think that the mid-single-digit rise in comparable sales would continue, and that it did not represent a "new normal."

J. Jill, which went public in March, reported earnings and sales that topped analysts estimates, but provided an outlook that slightly missed forecasts.    Net income totaled $11.9 million, or 28 cents a share, in the quarter ended July 29, up from $8.1 million, or 19 cents a share, in the year-ago period. Adjusted per-share earnings came to 29 cents, in line with estimates.