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Discounters show positive movement in January
New York City -- Costco Wholesale Corp. reported a January same-store sales increase of 9%, topping Wall Street expectations and leading the performances of the discount retail category.
Analysts polled by Thomson Reuters expected a smaller same-store sales increase of 6.1%.
Target Corp. didn’t show the same strength, missing expectations because of strong winter storms during the month. Same-store sales edged up 1.7% for the month, missing the 1.9% increase predicted by Wall Street.
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Walmart lends support to Brazilian flood victims
BENTONVILLE, Ark. -- Walmart announced that the Walmart Foundation committing more than $750,000 in cash and in-kind donations to support emergency relief efforts in Sao Paulo and Rio de Janeiro, Brazil where an estimated 827 people have been killed and thousands have been left homeless following torrential rains and mudslides. A $400,000 donation from the Walmart Foundation will help purchase critical supplies like water, food, medical supplies and long-term relief efforts.