Data & Analytics

The retail world will lose one of its most colorful and respected CEOs when Costco Wholesale Club co-founder and chief executive Jim Sinegal steps down on January 1, 2012. Among retailers, Sinegal stands out for offering proof positive that a business could be good to its employees and customers and still make a hefty profit.

MINNEAPOLIS — The first month of Target’s third quarter is off to a solid start as the company reported a 4.1% same-store sales increase squarely in the middle of guidance that called for a low to mid single-digit gain.

FORT WORTH, Texas  — Pier 1 Imports reported a 10.8% same-store sales increase for the second quarter ended Aug. 27, on top of an 11.2% comps increase for the same period last year, driven primarily by increases in traffic and average ticket. Total sales for the quarter improved to $340 million compared to $310 million in the year-ago quarter. 

Pier 1 said it expects earnings per share for the quarter to be 14 cents.

NEW YORK — Despite low consumer confidence, the volatile economy and a hurricane, many retailers reported better-than-expected sales in August. Hurricane Irene appeared to put a dent in the results of some retailers on the East Coast, but the storm did not appear to do as serious damage as some expected.

Total retail sales rose 4.4%, just missing the 4.6% rise that Wall Street analysts had expected, according to Thomson Reuters. Of the 19 out of the 25 retailers that Thomson Reuters tracks, 11 beat expectations.

CITY OF INDUSTRY, Calif. — Hot Topic has announced that two new executives have joined the company, Don Hendricks as CIO and Jeff Allison as SVP planning and allocation.

Hendricks will lead all information technology for Hot Topic Inc. Prior to joining Hot Topic, Hendricks was the CIO at Gymboree Corp. where he led many successful major systems implementations. In addition to his IT responsibilities, Hendricks was also responsible for distribution and logistics.

The increases in average transaction size and customer traffic that Target credited with driving its 4.1% same-store sales increase during August is unwelcome news for Walmart. This is especially true since the biggest gains continue to come in categories where Walmart is traditionally strongest and is intent on demonstrating price leadership.

The leadership transition Costco announced this week was hardly unexpected considering outgoing CEO Jim Sinegal is 75, but it does underscore what arguably has been one of the greatest distinctions between Costco and Sam’s clubs for the past 25 years, namely the stability of senior leadership.

Purchase, N.Y. -- The apparel, e-commerce, grocery, and luxury segments all showed continued growth in August, as the hardware, restaurant, and automotive repair sectors returned to positive territory, according to MasterCard Advisors SpendingPulse, a macroeconomic report tracking national retail and services sales.

City of Industry, Calif. -- Hot Topic announced that two new executives have joined the company, Don Hendricks as CIO and Jeff Allison as senior VP planning and allocation.

Hendricks, who will lead all information technology for Hot Topic, most recently served as CIO at Gymboree Corp.

Allison, will lead the merchandise planning and allocation teams for both the Hot Topic and Torrid brands, most recently served as senior VP planning and allocation for Chico’s FAS.

New York City -- Despite low consumer confidence, the volatile economy and a hurricane, many retailers reported better-than-expected sales in August. Hurricane Irene appeared to put a dent in the results of some retailers on the East Coast, but the storm did not appear to do as serious damage as some expected.

Total retail sales rose 4.4%, just missing the 4.6% rise that Wall Street analysts had expected, according to Thomson Reuters. Of the 19 out of the 25 retailers that Thomson Reuters tracks, 11 beat expectations.