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Costco, BJs and Target beat expectations
New York City -- BJ’s Wholesale Club, Costco and Target all beat Wall Street expectations in August, helped by consumers seeking out emergency supplies and clean-up items as they prepared for and then dealt with Hurricane Irene.
BJ's Wholesale Club’s same-store sales jumped 11.5% in August, beating analysts' predictions for a 7.8% increase. The retailer said that gasoline sales contributed about 3.6 percentage points to the increase, and hurricane-related sales contributed another 2.5 to 3 percentage points.
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Seattle’s Best Coffee opens 12 stores
Seattle -- Seattle's Best Coffee, which is owned by Starbucks, has opened 12 stores since April, bringing it to almost 100 locations in the United States and Canada. The expansion reflects the chain’s strategy to build upon the brand’s broad distribution network of franchised locations, company-operated stores, relationships with restaurant chains, and foodservice locations.