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Club & Warehouse

  • PriceSmart profit dips in Q1

    San Diego -- Warehouse club operator PriceSmart said Friday that net income for the quarter ended Nov. 30 edged down to $14 million, compared with $14.9 million in the year-ago period.

    Net warehouse sales increased 24.1% to $468.3 million from $377.3 million, and total revenue rose to $478.7 million from $386.1 million.
     

  • Costco CEO earns accolades

    CHICAGO — Investment research firm Morningstar has named the outgoing CEO of Costco Wholesale as its 2011 CEO of the Year, the company said Wednesday.

    Costco CEO Jim Sinegal, who retired on New Year's Day, received the recognition for what Morningstar called his "exemplary corporate stewardship, independent thinking" and creating "lasting value for shareholders."

  • Report: December same-store sales expected to rise 4.3%

    New York City -- Wall Street analysts expect retailers to report a healthy end to the holiday season, fueled by discounts, improved consumer sentiment and such tactics as extended hours and layaways, Reuters reported.

    Twenty-two major chains, from Macy's Inc. to Costco Wholesale Corp, are likely to post an aggregate 4.3% increase in December same-store sales according to Thomson Reuters.

  • BJ’s taps People Answers for talent assessment

    Dallas -- PeopleAnswers announced a new agreement in which BJ’s Wholesale Club will use the PeopleAnswers’ solution to help select team members in all locations across 15 eastern states.

  • ICSC: Last-minute holiday shopping gives 4.5% year-over-year lift

    New York City -- A report released Wednesday by the International Council of Shopping Centers found that a last-minute shopping surge gave merchants a solid lift during the final week before Christmas.

    According to the ICSC-Goldman Sachs Weekly Chain Store Sales Index, same-store sales rose 0.9% for the week ended Saturday compared with the previous week. That is also up 3.4% from the week before and up 4.5% over the same period a year ago.

  • Help Wanted: Walmart hiring 4.3 million

    Yes, you read that correctly. Walmart will need to hire an estimated 4.3 million people over the course of the next five years to keep pace with anticipated growth and turnover. No wonder the company is such a big supporter of an organization known as Students in Free Enterprise (SIFE), which held its Global Partner Summit in Rogers, Ark. earlier this week.

  • Costco comps, profits up in Q1

    ISSAQUAH, Wash. — Costco Wholesale reported that net sales for the first quarter of 2012 increased 13% to $21.18 billion from $18.82 billion during the first quarter of fiscal 2011. 

    Total comps for the quarter increased 10%, which included a 10% increase in U.S. comps and an 11% increase in international comps.

    Excluding the impact of fuel and strengthening foreign currencies, total comps for the quarter were up 7%, U.S. comps rose 6% and international comps rose 10%.

  • Costco profit edges up 2.6% in Q1, misses Street

    Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that profit for the quarter ended Nov. 20 rose 2.6% to $320 million, from $312 million a year earlier. The wholesale club operator attributed the lackluster performance, which missed Wall Street expectations, to higher costs, which offset increased revenue.

    Costco's revenue rose to $21.18 billion, missing analysts’ predicted $21.29 billion in revenue.

    Same-store sales rose 10%; excluding gas prices and strengthening foreign currencies, the figure rose 7%.

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