Income Grows at Cost-U-Less
Bellevue, Wash., Cost-U-Less posted fourth-quarter net income of $960,000, compared to net income of $568,000, for the corresponding period last year. For the fiscal year 2004, net income increased to $2.7 million, compared to net income of $1.4 million, for fiscal year 2003. Cost-U-Less currently operates 11 stores in the Caribbean and Pacific region.
NRF Exec Named to Federal Trade Advisory Committee
Washington, D.C., President Bush has appointed National Retail Federation president and CEO Tracy Mullin to the Advisory Committee for Trade Policy and Negotiations (ACTPN). The White House’s ACTPN is a private sector advisory panel on international trade that helps the Administration support its trade agenda.
“This appointment recognizes the importance of the retailing industry and consumers in U.S. trade policy,” Mullin said in a statement. “Retailers are among our nation’s largest importers. While much of the trade debate has focused on U.S. exports, we hope additional consideration can be given to the important role of imports in providing U.S. consumers with the products they need at prices they can afford.”
Chain Store Sales Up Over Last Year
New York City, Retail chain store sales increased by 1.8% for the week ended Feb. 19 vs. the same week from 2004, according to to the International Council of Shopping Centers (ICSC)-UBS Weekly Chain Store Sales Index. On a week-over-week basis, retail sales slowed 0.1% in the week ended Feb. 19.
Redbook Research reports a more robust growth figure for that week. The independent research company says U.S. chain store sales increased by 2.9% year-over-year for the week ended Feb. 19, according to Reuters. Redbook further reported that February sales are up 0.7% to date when compared with January.
“Sales in the week were influenced by spring promotions, Valentine’s Day and the holiday weekend,” Redbook Research said in a statement. “Like other secular celebrations, Valentine’s Day continues to grow in importance.”