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Michaels Kors files suit against Costco
New York -- Michael Kors is suing Costco Corp., accusing the chain of illegally using pictures of its pocketbooks in its ads to attract customers, according to the Associated Press. Michael Kors said Costco was not authorized to sell the designer's goods.
In a federal lawsuit, Michael Kors accused Costco of using the bags as a lure. It claimed Costco advertised the bags as starting at $99, but didn't actually have any to sell, the report said. -
PriceSmart Q3 net income misses expectations
San Diego -- Warehouse club operator PriceSmart reported Thursday that profit for the quarter ended May 31 rose 18% to $18.5 million, compared with $15.7 million in the year-ago period but missing Wall Street estimates.
Revenue rose 13% to $571.7 million, beating analysts’ expected $568.6 million in sales. Same-store sales rose 9.7%.