News

When Walmart lowered its full year sales forecast last month the company said customer were being cautious with their spending. Maybe so, but that wasn’t the case in new car showrooms were automakers reported record sales and in the process created new holiday headwind for Walmart and other retailers.

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. 

HAMPSTEAD, Md. — Although JoS. A. Bank saw decreases across the board for its second quarter, president and CEO R. Neal Black focused on the momentum the company seems to have picked up during August.

Deerfield, Ill. -- Walgreens reported that same-store sales for the month of August rose 4.8%, beating Wall Street expectations of a 2.9% gain.

Results included a 6.4% gain from the pharmacy and a 2.2% rise from the front-end.

Total revenue for August rose 6% to $6.17 billion.

Hampstead, Md. -- JoS. A. Bank Clothiers reported that net income for the second quarter dropped 38% to $14.2 million, compared with $23.2 million in the same period last year, amid weaker sales.

Total sales fell 10.7% to $232.5 million. Same-store sales plummeted 15.9%; direct marketing sales decreased 1.9%.

Campbell Soup Co. and Green Mountain Coffee Roasters Inc. are joining forces and launching Campbell’s Fresh-Brewed Soup K-Cup packs, which will offer consumers Campbell’s soups that can be prepared in Keurig brewers.

VERNON, Calif. — True Religion Apparel appointed Gary Harvey as the brand’s creative director. In this role, Harvey will work with the company’s senior leadership to define the creative vision and design across True Religion. He will report to Lynne Koplin, chief merchandising officer.

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.