August Sales Pace Slows at Wal-Mart
Bentonville, Ark., Wal-Mart Stores said August same-store sales at U.S. stores rose 3.3%, on the low end of its forecast range, as surging gasoline prices led shoppers to limit purchases to food and basic back-to-school merchandise. Same-store sales in July were up 4.4%. Sales of groceries outpaced those of general merchandise for the sixth month this year.
Bass Pro Shops Builds in Southern California
Rancho Cucamonga, Calif., Bass Pro Shops Outdoor World is expected to open at Victoria Gardens in 2007. The 180,000 sq. ft. store will be the chain’s first store in Southern California.
Big 5 Gets Nasdaq Extension
El Segundo, Calif., Big 5 Sporting Goods Corp. said Nasdaq has given it another extension, this one until Aug. 31, to file financial statements for past periods. The retailer risks being delisted if it fails to meet the latest deadline. Earlier this week, Big 5 hired a new CFO, Barry D. Emerson, who will start in early September. His hiring comes after the company said earlier this month it was seeking a new CFO with a strong accounting background, given its financial reporting problems. The company is in the midst of correcting accounting errors related to accounts payable and leases, among other items.