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Sales at Costco increase
August seems to have delivered a mixed bag to various retailers, but Costco seems to have fared well with reported net sales of $7.95 billion for the four weeks ended Sept. 1, an increase of 7% from $7.44 billion during the prior-year period.
Comparable-store sales in the U.S., adjusted to exclude changes in gasoline prices, increased 5% for August and for the fourth quarter and increased 6% for the 52-week period.
For the fourth quarter, the company reported net sales of $31.8 billion, an increase of 1% from $31.5 billion in the prior-year quarter.
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Saks Fifth Avenue to relocate within Houston Galleria
HOUSTON — The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria.