eCommerce

Changes in foreign exchange rates had a negative impact on Costco’s comparable store sales for the fourth quarter ended Sept. 1, but the wholesaler still reported increases in both its U.S. and international markets. 

The company’s comparable sales for the quarter increased 5%. U.S. comparable store sales increased 5% for the quarter, while international comparable store sales increased 4%. 

New York -- Amazon remains the world's most trusted retailer despite widespread criticism of its tax affairs and labor disputes.

The Internet giant topped a poll of 30,000 consumers in nine countries although the research by OC&C, unveiled on the closing day of the World Retail Congress, revealed that “its crown has very much slipped.”

Consumers were asked to rank nearly 600 retailers on a range of factors such as trust, value for money, service, product, and multichannel capability.

Saks chairman and CEO Stephen Sadove has been named to the board of directors at J.C. Penney to fill a position being vacated by Geraldine Laybourne.

Sadove will be leaving his position at Saks soon as the upscale department store chain was recently sold to Hudson’s Bay Company. Sadove joined Saks in 2002 as vice chairman and assumed the additional post of chief operating officer in 2004. He became CEO in 2006 and the following year was named chairman.

Las Vegas — Miracle Mile Shops at Planet Hollywood resort & Casino has announced the opening of four new restaurants and retailers.

Meatball Spot will bring its Italian cuisine to Miracle Mile Shops this winter. Ketchup Premium Burger Bar will open its doors in November. Tervis will follow in December. Shoe Palace plans to open in February 2014.

Miracle Mile Shops is a 1.2 mile retail/entertainment complex at the heart of the Las Vegas Strip. It features 170 specialty stores, 15 restaurants and live entertainment venues.

Amazon has introduced a new service that streamlines how customers transact with online merchants. Login and Pay with Amazon allows customers of participating companies to go from browsing to buying in just a few clicks using their Amazon account information.

New York -- A report by Wall Street Journal revealed that private equity investor Tower Three Partners will sell its final 3.9 million shares in Restoration Hardware Holdings, marking an exit for the buyout firms that acquired the home furnishings retailer in 2008.

Restoration Hardware’s private-equity backers have been cashing out amid a 90% rally in the stock this year, according to the report.

Shopper activity decreased this September, in line with ShopperTrak’s predictions. Total retail store shopper traffic for the month decreased 20.2% compared to August. In a year-over-year comparison, shopper traffic for September 2013 decreased 6.9% compared to the same month last year.

Back-to-school shopping activity that peaked in August slowed as school came back in session. The early Labor Day (Sept. 2) compounded the reduction in September’s shopper activity by combining two normally distinct shopping opportunities into just one.

By Michael Zea, president and CEO, U.S., Aimia
 
Amid weaker-than-expected August retail sales, leading retailers are kick-starting their holiday shopping season by wooing existing shoppers through their customer loyalty programs. Retailers are increasing their investment in the traditional transaction-based loyalty efforts because of the proven success of rewarding customers for their purchases.