News

O'Reilly Automotive reported another record-breaking quarter of financial results as the retailer revs up plans to expand its distribution network and store footprint.

The auto parts retailer reported that sales for the second quarter ended June 30 increased $188 million, or 10%, to $2.04 billion from $1.85 billion for the same period one year ago. Same store sales increased 7.2%.

This year, O’Reilly plans to add a net 205 stores, compared with 200 stores in 2014. In the latest period, it opened 34 stores.

Dallas - 7-Eleven Inc. is taking its business to Vietnam.

The company has signed a master franchise agreement with Seven System Vietnam Co. Ltd. to develop and operate 7-Eleven stores in Vietnam, with the first stores expected to open in 2017. Seven Systems plans to construct 7-Eleven stores, convert existing locations to the 7-Eleven brand supported by enhanced infrastructure, and eventually franchise operations to local businesspeople.

New York -- The big spenders are at Costco.

People spent 149% more at Costco than at other retailers, according to mobile-location firm Placed, which linked store spending to tracked locations. Best Buy BJs, Sam's Club and Ikea also ranked high, Advertising Age reported.

Best Buy is taking another leap forward in its quest to make shopping across platforms as easy as possible for consumers.

The retailer, in partnership with American Express, has integrated new technology that allows Amex card members enrolled in the Amex Membership Rewards program to seamlessly use their points for online purchases on BestBuy.com. In addition card members can use their membership rewards points for all or part of each online purchase and either pick it up in one of Best Buy’s stores or have it delivered to their doors.

WOONSOCKET, R.I., and ARMONK, N.Y. — CVS Health and IBM on Thursday announced they will use predictive analytics and Watson cognitive computing for care management services for patients with chronic disease.

As more retailers embrace the reverse trajectory of opening an online store first and a physical store second, the beauty industry is leading the way.

E-commerce has been the fastest-growing retail channel in the U.S. beauty market, with a compound annual growth rate of 24% since 2009, the Kline Group reported on Tuesday. And more of these online retailers are opening physical stores.

Pittsburgh – GNC Holdings Inc. missed Wall Street expectations for profit and revenue in a generally disappointing second quarter of fiscal 2015. GNC reported net income of $67.4 million, a decrease of 4% from $69.9 million for second quarter 2014.

Cost of sales increases were a key factor in reduced net income. GNC reported consolidated revenue of $678.5 million, an increase of 0.5% as compared with $675.2 million. Revenue growth was limited by a 2.8% same-store sales drop in company-owned stores, including GNC.com.

Procter & Gamble Co. has named a successor to the man who led the company's recent transformation.