Retail

Costco Net Rises 17 Percent in First Quarter

Costco Net Rises 17 Percent in First Quarter

ISSAQUAH, Wash.–A double-digit sales increase helped drive Costco to a 17 percent pickup in net income in its fiscal first quarter. The warehouse club’s bottom line totaled $312 million in the quarter, which ended on Nov. 21. Net sales increased 11 percent, which included a 7 percent gain in same-store sales. Costco’s first-quarter sales gotMore »

Investor Firm Acquires Gracious Home

Investor Firm Acquires Gracious Home

NEW YORK–Americas Retail Flagship Fund, an investor company with interests in retail and real estate, has swung a deal to purchase Gracious Home, the specialty retail that has been in Chapter 11 bankruptcy since August. According to a joint statement from the retailer and its new owner, the acquisition “rescued” the company and its moreMore »

Home Depot Sets Targets for 2011

Home Depot Sets Targets for 2011

ATLANTA–The Home Depot said it expects its net sales to increase between 2 and 2.5 percent next year. The projection is one of a list of goals the home-improvement retailer outlined in a statement issued this morning. The company also said it expects same-store sales growth in the low single digits, 10 new store openingsMore »

Target Debuts Sustainability Initiative

Target Debuts Sustainability Initiative

MINNEAPOLIS–Target has established a number of company-wide sustainability commitments, which are designed to guide its ongoing efforts toward environmental sustainability. The retailer has introduced a website, hereforgood.target.com, which outlines these commitments. Included will be efforts toward empowering consumers and Target employees to lead a more sustainable lifestyle, expanding Target’s choices of sustainable products, leading retailersMore »

Supreme Court to Hear Walmart Appeal in Discrimination Case

Supreme Court to Hear Walmart Appeal in Discrimination Case

WASHINGTON—The U.S. Supreme Court has agreed to hear Walmart’s appeal of a lower-court decision in Dukes v. Walmart Stores Inc., involving alleged sex discrimination against the world’s largest retailer. The suit was filed in the U.S. Court of Appeals in San Francisco in 2000 by Betty Dukes, a California Walmart employee, who said Walmart hadMore »

Dollar General Net Climbs 69 Percent in Third Quarter

Dollar General Net Climbs 69 Percent in Third Quarter

GOODLETTSVILLE, Tenn.—Increases in both net sales and gross profit helped drive Dollar General to a 69 percent gain in net income in the third quarter, totaling $128.1 million. Net sales rose 10 percent to finish the quarter at $3.2 billion, and gross margin increased 51 basis points to 31.4 percent. While selling, general and administrativeMore »

Macy’s Declares Dec. 10 National Believe Day

Macy’s Declares Dec. 10 National Believe Day

NEW YORK–For the second straight year, Macy’s is celebrating generosity and giving throughout the holiday season by declaring December 10 as National Believe Day. As part of Macy’s ’Believe’ campaign, National Believe Day aims to inspire Americans to embrace the spirit of goodwill, while spreading the holiday season’s message through charitable efforts and kindheartedness towardMore »

Strong November Sales Launch Holiday Season for U.S. Chains

Strong November Sales Launch Holiday Season for U.S. Chains

NEW YORK–Major U.S. retail chains enjoyed a prosperous beginning to the holiday season, reporting same-store sales increases for November. The surprising leaders among the chains tracked by HFN were J.C. Penney with a 9.2 percent increase in same-store sales, and Dillard’s with an 8 percent pickup. Both chains had tended to be among the weakerMore »