Costco’s quarter gets boost from private label
Costco's store traffic and average spend were up during the latest quarter. Private-label items, particularly wines and spirits, showed strong growth. Membership fee revenue increased by 4%, also contributing to the retailer's strong results. (Supermarket News)
Staples rejects takeover offer
Staples has rejected a takeover offer from Cerberus Capital Management because it is too low, leaving Sycamore Partners still in the running to acquire the business. Staples began considering a sale after regulators blocked its deal to buy smaller rival Office Depot last year. (Bloomberg)
Payless could close even more than proposed 400 stores
After filing for bankruptcy protection last month, Payless announced it would close about one-quarter of its stores, around 408 locations. If the company’s downward spiral continues, another 300 stores could be added to that list. (Chicago Tribune)
BJ’s hires leaders for digital transformation
BJ’s Wholesale Club has hired two leaders to help with the company’s technology revamp and digital transformation. Scott Kessler has been named executive vice president and CIO, and Rafeh Masood has joined BJ’s as senior vice president and chief digital officer. (PR Newswire)