Costco, Baton Rouge, Louisiana
Costco Wholesale Corp. has opened the doors to its second location in Louisiana, in the city of Baton Rouge. (The warehouse club giant made its Louisiana debut last fall, in New Orleans.) The store includes a bakery, fresh deli, food court, gas station, pharmacy and independent optometrist.
The Baton Rouge store, at 150,000 sq. ft., is slightly larger than the Issaquah, Wash.-based chain’s average sq. ft. of 143,000. It was built on the site of a former Coca-Cola bottling plant. The 345,000-sq-ft. building was razed and the 28-acre site completely leveled to accommodate the warehouse club.
Costco’s two stores in Louisiana stores were constructed by T.D. Farrell Construction, Alpharetta, Georgia. There is already talk of a new store opening in Lafayette, Louisiana, in the not-too-distant future.
Photos by Bob Boccaccio
Tuesday Morning’s turnaround efforts pay off in Q3
Tuesday Morning Corporation’s turnaround efforts paid off in the third quarter ended March 31. The company reported strong comparable store sales performance, increased inventory turnover and improved cash position during the quarter.
The leading closeout retailer that operates 811 stores across the U.S. reported net sales of $182.8 million, an increase of 2.6% compared to $178.1 million for the third quarter of fiscal 2013.
Comparable-store sales increased 6.4% compared to the third quarter of fiscal 2013, and consisted of an 8.4% increase in customer transactions, which was partially offset by a 1.9% decrease in average ticket. Since the last year’s second quarter, the company has exited a number of non-core categories such as women’s apparel and footwear. Comparable sales in ongoing core categories increased 10.5% compared to the third quarter last year.
"During the third quarter we commenced work on the final phase of the company’s turnaround efforts which includes the sell-off of exited categories, further reduction of our clearance merchandise and enhancements to our store layouts,” said CEO Michael Rouleau. “We are pleased with our continued progress and results this quarter, yet remain focused on the significant work ahead to complete the final phase of our turnaround efforts before the holiday selling season."
Tuesday Morning specializes in selling deeply discounted, upscale decorative home accessories, housewares, seasonal goods and famous-maker gifts.
Walmart to double on-site solar projects in U.S. by 2020
At an event with President Barack Obama, Walmart said that it will double the number of on-site solar energy projects at its U.S. stores, Sam’s Clubs and distribution centers by 2020. The commitment is part of Walmart’s global initiative to drive the production or procurement of 7 billion kWh of renewable energy by the end of 2020.
“We share the President’s commitment to a sustainable energy future and applaud his willingness to partner with business on this important issue,” said Bill Simon, president and CEO of Walmart U.S. “We know from experience that investing in energy innovation allows us to save money, reduce carbon pollution, and create jobs. Every day, millions of Americans depend on us to watch every penny so that we can provide the best prices on products they love. Our customers can feel good that we’re watching out for both their wallets and their children’s future.”
Walmart made the announcement while hosting President Obama at a solar-powered store in Mountain View, Calif. The President visited the store to highlight the importance of energy efficiency and renewables in keeping America strong.
Since 2005, Walmart’s greenhouse gas emissions grew at only one-quarter the rate of the company’s growth, nearly flat-lining in recent years, the company said in a press release. With its 2020 energy goals, it anticipates an absolute decline in GHG emissions by 2020 despite significant growth plans over that same time period.