Retail

ISSAQUAH, Wash. — Costco is off to a good start in 2012, with high increases in second-quarter sales and earnings.

The company reported that net sales for the second quarter of fiscal 2012 increased 10% to $22.51 billion, from $20.45 billion last year. Total comparable-store sales for the quarter increased 8%, consisting of an 8% increase at both U.S. and international clubs. Excluding the impact of fuel, comparable-store sales were up 7%, consisting of a 7% increase at U.S. clubs and a 10% increase at international clubs.

BENTONVILLE, Ark. — Three Wal-Mart Stores executives will share insights at two key retail conferences on March 7.

Shelly Ibach, a former merchant at Target back when the company had a department store division, will replace Bill McLaughlin as president and CEO at Minneapolis-based mattress manufacturer and retailer Select Comfort.

BOSTON — A survey sponsored by in-store commerce provider AisleBuyer found that nearly 40% of smartphone-carrying shoppers have abandoned their in-store purchases because of long lines, while 21% will abandon their purchases if there are no registers open.

Target will forever be associated with the weirdest Daytona 500 ever after the car it sponsors was mysteriously involved in a single car accident that caused a huge on-track fire and a two-hour delay that caused the already rained-delayed race to finish after midnight on Monday.

NEW YORK — After more than a year since it first filed Chapter 11, A&P has won approval to exit bankruptcy. The company announced that the U.S. Bankruptcy Court in White Plains, N.Y., has approved its reorganization plan, which includes $490 million in debt and equity financing from Ron Burkle's Yucaipa Cos. 

BOCA RATON, Fla. — Office Depot swung to profitability during the fourth quarter, despite a 5% comp sales decline at North American retail stores where the retailer shunned promotional activity during the holidays.

Target for the first time this year was named to the annual listing of America’s Top Corporations for Women’s Business Enterprises compiled by the organization Women’s Business Enterprise National Council (WBENC).