News

Changes in foreign exchange rates had a negative impact on Costco’s comparable store sales for the fourth quarter ended Sept. 1, but the wholesaler still reported increases in both its U.S. and international markets.

The company’s comparable sales for the quarter increased 5%. U.S. comparable store sales increased 5% for the quarter, while international comparable store sales increased 4%.

Jacksonville, Fla. -- Bi-Lo and Winn-Dixie parent Bi-Lo Holdings said it would begin in 2014 the process of converting all Sweetbay stores to the Winn-Dixie name and Reid's stores to Bi-Lo, but that the Harveys banner would remain intact.

The grocery retailer acquired all three banners from Brussels, Belgium-based Delhaize Group last May.

By Michael Zea, president and CEO, U.S., Aimia
 
Amid weaker-than-expected August retail sales, leading retailers are kick-starting their holiday shopping season by wooing existing shoppers through their customer loyalty programs. Retailers are increasing their investment in the traditional transaction-based loyalty efforts because of the proven success of rewarding customers for their purchases.
 

Leading consumer products company Helen of Troy saw solid growth in all its business segments during the second quarter, which led to record sales of its stable of well known brands, but stagnant profits.
Sales increased 11.1% to $319 million during the quarter ended August 31, but profits were essentially flat at $23.3 million, or 72 cents a share, compared to $23 million, or 72 cents a share. Gross margins declined to 38.6% from 40.7% the prior year while expenses as a percent of sales declined to 29.1% from 30%.

New York -- Amazon remains the world's most trusted retailer despite widespread criticism of its tax affairs and labor disputes.

The Internet giant topped a poll of 30,000 consumers in nine countries although the research by OC&C, unveiled on the closing day of the World Retail Congress, revealed that “its crown has very much slipped.”

Consumers were asked to rank nearly 600 retailers on a range of factors such as trust, value for money, service, product, and multichannel capability.

Amazon has introduced a new service that streamlines how customers transact with online merchants. Login and Pay with Amazon allows customers of participating companies to go from browsing to buying in just a few clicks using their Amazon account information.

Bi-Lo and Winn-Dixie parent Bi-Lo Holdings plans to retire the Sweetbay and Reid’s banners. The company will begin converting all Sweetbay stores to the Winn-Dixie name and Reid's stores to Bi-Lo in 2014, and confirmed the Harveys banner would remain intact.

The grocery retailer acquired all three banners from Brussels, Belgium-based Delhaize Group last May.

New York – Jos. A. Bank Clothiers has put in an offer to acquire Men’s Wearhouse for about $2.3 billion in a $48 per share all-cash offer, Reuters reported.

The acquisition would create a men’s apparel powerhouse with over 1,700 stores across the nation. Jos. A. Bank said Men’s Wearhouse was reviewing the proposal, according to the report.

Jos. A. Bank is partnering with Golden Gate Capital on the offer. The investment firm would make a $250 million equity investment in the company.