Costco Wholesale Corp. and L Brands Inc. were among the retailers that posted stronger-than-expected sales in August, fueled in many cases by back-to-school promotions.
Online U.S. retail sales for August 2014 were up more than 11% as compared to the same period the prior year.
Shoppers spent $50.17 billion online during the 2014 back-to-school shopping season, which represents a 16% gain from $43.26 billion in the year-ago period, according to eMarketer.
August 2014 sales results indicate the 2014 back-to-school period had a significant boost to shopping activity.
AccuStore, a provider of site profiling technology and services, announced The Pantry, a chain of 1,500 plus convenience stores, has licensed AccuStore’s site profile management platform with plans to reduce operating costs and improve execution.
The board of directors of Nordstrom Inc. has authorized a repurchase program of up to $1 billion of the company’s outstanding common stock, through March 1, 2016.
In a deal that will create a national specialty bedding retail powerhouse, Mattress Firm Holding Corp. has agreed to acquire rival The Sleep Train Inc. for about $425 million.
Costco Wholesale Corp. on Thursday reported that its revenue for the fourth quarter climbed 9% to $34.8 billion.
Women’s specialty retailer Christopher & Banks Corp. swung to a profit of $3.4 million in the second quarter of fiscal 2014, compared to a net loss of $285,000 in the prior year period.
Increases in cost of sales and selling, general and administrative expenses (SG&A) drove a year-over-year reduction in net income during the second quarter of fiscal 2014 at Shoe Carnival Inc.