Club & Warehouse

Toronto - Slate Retail REIT has entered into a binding agreement to purchase North Summit Square, a 99% occupied, 224,530-sq.-ft. grocery-anchored shopping center in Winston-Salem, North Carolina, for $15.8 million. The property is anchored by Sam's Club.

"We are very excited to announce our first acquisition since listing on the TSX," said Blair Welch, CEO of Slate Retail. "We see several further opportunities to make accretive acquisitions of grocery-anchored centers in attractive markets."

West coast retailer Smart & Final could be heading East soon thanks to big plans for a warehouse club-like concept called Extra it believes has nationwide potential for more than 1,250 stores.

Bentonville Ark. - Sam’s Club will open a new Kansas City, Missouri store on June 26. Measuring approximately 136,000-sq.-ft., the new store will feature a variety of members-only amenities, including a fresh bakery, a tire and battery center, a café and a fuel station.

To staff the new Kansas City store, Sam’s Club has hired more than 180 new associates.
 

BJ's Wholesale Club has renewed and expanded its in-Club advertising contract with IZ-ON Media, a digital media company specializing in in-store shopper marketing services.

For the past three years, IZ-ON Media has provided content programming and delivery, network operations and advertising sales for the BJ's HDTV Network. According to the renewed and expanded deal’s terms, IZ-ON Media will also represent the BJ's In-Club Radio Network.

When it comes to powerful retail CEOs, the names Dave Dillon at Kroger, Frank Blake at Home Depot, Craig Jelinek at Costco and Doug McMillon at Walmart come to mind. But they’ve got nothing on Greg Penner.

Warmer weather in May meant an uptick in store traffic for a few retailers, including Costco. But the wholesale retailer’s same-store sales for the month — which increased 6%, with a 6% rise in U.S. sales and a 4% increase in international sales — were better than analysts had expected and bolstered by higher fuel prices.

The company reported net sales of $8.78 billion for the month, an increase of 8% from $8.13 billion during the similar four-week period last year.

New York -- Costco Wholesale Corp. was among the retailers who topped sales expectations in May as warmer weather encouraged consumers to go out and shop.

Costco’s same-store sales rose 6% in May, with a 6% rise in U.S. sales and a 4% increase in international sales, better than analysts had expected.

At L Brands, owner of Victoria's Secret and Bath & Body Works, same-store sales were up 3 in May, better than projections. Total revenue for the month rose 4% to $763.6 million.

In a major boost to member benefits, Sam’s Club announced a credit card cash back program that gives members the opportunity to earn 5% cash back on fuel, 3% cash back on dining and travel and 1% cash back on all other purchases, up to $5,000 annually.