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Bebe shuffles board membership
New York – Bebe Store Inc. has named Seth Johnson, Blair Lambert and Brett Brewer to replace Caden Wang, Barbara Bass and Cynthia Cohen on the company’s board of directors, effective immediately. Johnson previously served as CEO of Pacific Sunwear of California Inc.
Johnson also served as COO and CFO of Abercrombie and Fitch. Prior to joining Abercrombie and Fitch he held positions at The Limited Inc., Batus Retail Group, Conoco, and Dayton Hudson (now known as Target).
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Promotions help drive June sales; Costco same-store sales up 6%
New York -- Retail sales generally improved in June, helped by good weather and big discounts as retailers look to clear inventory for the back-to-school season.
Costco Wholesale Corp. reported a 6% increase in June same-store sales, helped by higher fuel prices. Its results topped Wall Street estimates.
Excluding the impact of foreign exchange rates and gasoline prices, Costco’s same-store sales increased 6% for the five-week period ended July 6. The metric rose 5% in the United States and 7% overseas.