Department Store

New York -- Costco Wholesale Corp. fell slightly short of estimates in July even as most other retailers who still report same-store monthly sales outperformed expectations.

The warehouse club giant reported a 5% rise in same-store sales for July, excluding gasoline, falling short of estimates for a 5.7% increase. The company said foreign currencies had a slightly negative impact. It was the first time in five months that Costco's sales have increased less than expected. Costco's total revenue for the month increased 9% to $8.55 billion.

New York – Ann Inc. expects to report a 2.3% decline in consolidated same-store sales for the second quarter of fiscal 2014. Total company net sales are now expected to be $648 million.

Despite positive performance through mid-June, the remainder of the second quarter proved more challenging for Ann Inc., prompting the company to reduce its outlook for the second quarter so it reflects lower-than-anticipated comparable sales and gross margin rate performance.  

President and CEO Kay Krill cited soft traffic across the industry and a highly promotional environment, but added that — despite delivering a positive comp for the quarter at Ann Taylor — a disappointing performance at Loft offset results.

Austin, Texas – Zales has the highest annual percentage rate (APR) on its private label card out of 61 U.S. retailers surveyed by CreditCards.com. According to the study, the retailers with the five highest maximum APRs are:

1. Zales, up to a 28.99% APR;
2. Office Depot Personal Credit, up to a 27.99% APR;
3. Staples Personal Account, up to a 27.99% APR;
4. My Best Buy, up to a 25.24% and 27.99% APR, depending on your credit score; and

Stein Mart is marking its ninth consecutive quarter of positive sales. The company reported total sales of $75.3 million for July, a 0.9% increase from $74.6 in the prior year.

The company has generated $298.1 million in total sales for the second quarter so far, a 2.5% increase from $290.9 in the year-ago period. Comparable-store sales have increased 1.3%.

Atlanta — Participating JLL-managed centers across the country will be hosting back-to-school events in August, as part of a partnership with Teen Vogue.
Teen Vogue Back-To-School Saturdays (BTSS) feature teen-oriented retailer sales promotions, entertainment, fashion shows, music, food and giveaways. The multi-platform initiative involves all of Teen Vogue’s assets in print, digital, social, mobile and event marketing.

The shopping habits of today’s consumers have changed; retailers must be able to provide the product information they want through one or more of the marketing channels they may frequent — and all of those communications must be consistent with the physical in-store experience. That means new merchandising tactics are being embraced by industry leaders who are turning to digital signage to enhance the shopper experience and achieve competitive differentiation.

Conway, Ark. -- The Central Landing retail development now underway in Conway, Arkansas, has added a well-established name as a key anchor for the development’s first phase. Will Wilson, president of Jim Wilson & Associates, LLC and the company’s partner, the Conway Development Corporation, announced the completion of a letter of intent with Dillard’s to become part of the Central Landing development.

The Arkansas-based retailer will become an anchor for the development’s first phase.