Club & Warehouse

Costco is increasing the price of its membership fees, giving Sam’s Club the green light to follow suit, although such a move seems unlikely at this time. Why? Because Sam’s Club is enjoying favorable sales momentum and upgrade activity that might be jeopardized if members were asked to pay more.

ISSAQUAH, Wash. — Costco membership seems to defy current consumer trends as the warehouse club announced Wednesday that it would raise its annual membership fees at the same time reporting increases in fourth quarter sales and earnings.

Issaquah, Wash. -- Costco Wholesale Corp. reported an 11% increase in its fourth quarter net income, below forecasts. The company also announced that it will raise its membership fees starting Nov. 1.

Costco's net income rose to $478 million for the period ended Aug. 28, up from $432 million in the year-ago period. The quarter included a "last-in, first-out" inventory charge of four cents per share. This charge reflects a requirement that the company revalue its inventory if prices rise or fall notably.

Bentonville, Ark. -- Sam's Club will offer  a limited 15-week membership for $15.  

The seasonal membership is available for purchase during regular club hours for a limited time between Oct. 4 and 10.

BENTONVILLE, Ark. — Sam's Club announced that it is offering a 15-week membership for $15 to help consumers take advantage of the retailer's deals for the holiday season. The seasonal membership is available for purchase during regular club hours for a limited time between Oct. 4 and 10, and extends to new advantage and business members. Annual membership fees regularly start at $35 for business and $40 for advantage members.

Westborough, N.H. -- Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club. The move, which takes the chain private, sets the stage for a stock delisting, effective Monday before the markets open.

The deal was announced in late June after months of speculation. BJ’s shareholders approved the buyout on Sept. 9. The chain currently operates 190 warehouse clubs in 15 states.
 

WESTBOROUGH, Mass. — BJ's Wholesale Club officially is owned by Leonard Green & Partners and CVC Capital Partners, just a few weeks after the retailer's stockholders approved the agreement.

BJ's was required in an all-cash transaction valued at $51.25 per share, or $2.8 billion.

BJ’s common stock will be delisted from the New York Stock Exchange prior to the opening of business on Monday, Oct. 3, the companies said.

The deal was announced in late June after months of speculation. BJ’s board of directors unanimously approved the agreement.

SIDNEY, Neb. — Cabela’s Inc. announced that Scott Williams will be joining the company as EVP and chief marketing and e-commerce officer, reporting to Tommy Millner, chief executive officer.

Previously, Williams served as president of Fanatics Inc., a vertically integrated online retailer of team and league licensed sports apparel and collectibles, which he joined in 2010. While at Fanatics, Williams led business and financial results with specific emphasis on marketing, IT, business development and manufacturing.