Discount Store

Costco and BJ’s reported impressive same-store sales for June, and that’s good news for Sam’s Club. Given the strong correlation in performance between Sam’s and its direct competitors it is reasonable to assume Sam’s is on track to easily attain its second quarter same-store sales guidance, which calls for an increase in the range of 3% to 5%. Sam’s posted a first-quarter comp increase of 4.2% but doesn’t provide monthly updates.

Stronger-than-expected sales from a number of retailers in June is adding credence to a recent forecast that this year’s back-to-dchool season could be the strongest in the past five years, which is good news for Walmart as it looks for a strong ending to its second quarter.

Shoppers continue to face a lot of economic headwinds this back-to-school season, but one forecaster has seasonal sales growing by 6.2% to $467 billion, the most since 2006.

Former Walmart China executives Rob Cissell and Shawn Gray have joined the retail subsidiary of Indian conglomerate Reliance Industries, according to the Economic Times of India. Cissell will serve Reliance CEO and Gray will serve as COO, according to the newspaper.

NEW YORK – Department-store retailers turned out solid sales results in June, despite concerns about consumers cutting back on spending.

Macy’s Inc. reported that its total sales for the fiscal month of June increased 7.5% to $2.392 billion from $2.226 billion last year. The retailer reported a same-store sales increase of 6.7% for the month. 

NEW YORK — Rising gas prices has consumers cutting down on grocery shopping and many turning to the discount stores over traditional food retailers, according to the latest research from TNS.

The higher cost of gas is good news for discount stores, as 32% of those surveyed are choosing to shop there over traditional retail outlets. However, when they shop, they are buying less.

PLEASANTON, Calif. — Ross Stores will celebrate on July 16 the opening of its 1,000th Dress for Less store in North Pleasant Hill, Calif. 

Ross Stores' announcement of its 1,000th Dress for Less store follows strong monthly and quarterly sales and earnings, as the company continues to thrive in the down economy.

MONTVALE, N.J. — A&P has launched a new program offering exclusive discounts to pet owners across New York, New Jersey, Pennsylvania, Delaware and Connecticut. The program is a collaboration with the American Society for the Prevention of Cruelty to Animals. 

Last week Janney Montgomery Scott analyst David Strasser downgraded shares of Target to neutral from buy. He offered a litany of things that could go wrong with the Target story, which were subsequently refuted by someone named Will Ashworth on the website “Investopedia.”