Discount Store

Expectations outpaced the willingness of consumers to spend during December, as large numbers of retailers reported results that were less than expected. Weather certainly affected the ability of shoppers to get to stores, as heavy rains pelted California and blizzards hit the Northeast, but that type of stuff happens in December. A bigger factor was that retailers were victims of their own success. Recall November was something of a promotionpalooza and shoppers found offers that arrived early and often to be irresistible.

Costco said its worldwide sales increased 11% to $9.19 billion for the five-week period ended Jan. 2 and total company same-store sales increased 6%. Same-store sales at Costco’s U.S. clubs increased 4%, or 3% if the effect of higher year-over-year fuel prices is excluded. Internationally, same-store sales increased 12%, but that figure was aided by currency exchange rates. Excluding the impact of exchange rates, international same-store sales increased 8%.

NEW YORK -- On the heels of a strong November, some department store retailers reported surprisingly weak December revenue. Results were impacted by a blizzard in the Northeast, which took a bite out of sales after Christmas.

The results raised some worries that the holiday season might be less stellar than some had hoped. Still, much of Wall Street still predicts that November and December spending will show the largest annual increase since 2006.

TJX reported same-store sales of 2% December, beating Wall Street estimates for a 2.5% decline. Total sales rose 6% to $3 billion.

"I am extremely pleased with December's sales results, as we significantly exceeded our plans during this important period," TJX CEO Carol Meyrowitz, CEO, TJX.

An expanding number of consumers in search of value and an improved shopping experience at Family Dollar propelled the company to its strongest first-quarter same-store sales increase in 12 years, but profits for the period and the earnings outlook were below analysts’ estimates.

“Our comparable-store sales increase of 6.9% is the best first quarter result we’ve delivered in more than 12 years,” said Family Dollar chairman and CEO Howard Levine

CAMP HILL, Pa. — Rite Aid brought the New Year in with a bang, recording monthly same-store sales increases across both the front end and back bench for the first time in almost two years.

HOFFMAN ESTATES, Ill. - Sears Holdings' SVP procurement and finance has been promoted.

Deidra Cheeks Merriwether now holds the title of SVP and president retail services, succeeding James Haworth. In this role, Merriwether, who joined the corporation in 2001, will be responsible for the oversight and leadership of retail services for the broadline retailer's Kmart and Sears stores.

Merriwether currently serves as a member of Sears Canada's board of directors and is the executive sponsor of the company's African-American Associate Network.

GOODLETTSVILLE, Tenn. - Dollar General announced that in addition to opening 625 new stores in fiscal 2011, it intends to create 6,000 new jobs. 

“Bringing our store model of convenience and value to more people in more states is an exciting opportunity for us,” said Rick Dreiling, Dollar General’s chairman and CEO. “We believe the new communities and states we are entering will benefit from the new jobs, shopping choices and dedication to community found at Dollar General.“