Jefferies Raises PT on Costco Wholesale on Expected Overall Comp Store Sales (Benzinga)
In a report published Tuesday, Jefferies analyst Daniel Binder reiterated a Hold rating on Costco Wholesale Corporation (NASDAQ: COST), and raised the price target from $92.00 to $97.00. In the report, Binder noted, “We are expecting an overall comp store sales increase of 5-6%. We are also forecasting the core U.S. comp store sales will increase in a range of 5-6%. The company’s rich multiple at over 21x August 14E EPS appears to more than reflect the strong traffic gains and higher store growth this year.” Costco Wholesale Corporation closed on Monday at $107.04.
Trident recognized as ‘principal partner: Bath’ by Sears Holdings (TimesOfIndia)
Textile manufacturers Trident Limited has been recognized as “Principal Partner – Bath” for the year 2012-13 by Sears Holdings Corporation, a leading integrated retailer with over 2,600 full-line and specialty retail stores in the United States and Canada. The company bagged the honor for partnering with Sears for developing successful Bath shop programs for the company. The award was presented to Trident Limited recently at vendor recognition dinner and award ceremony organized by Sears Holdings in Hong Kong.
Wal-Mart donates $1.6M to promote fire safety (Telegram)
Wal-Mart Stores Inc. says it will donate $1.6 million to toward health and safety education in Bangladesh, three months after a fire swept through a factory there, killing 112. The fire raised questions about safety in Bangladesh’s garment industry, which exports clothes to leading Western retailers. Wal-Mart-brand clothing was found in the factory, but the world’s biggest retailer said the factory wasn’t authorized to make its clothes.
Mitch Glaeser: Working to retain talent in our local economy (Gainesville)
Gainesville is on the world stage, and we are not disappointing! Recently, Sears Holdings Corporation (NASDAQ:SHLD) was added to Gainesville’s impressive list of business recruitments in recent years. Sears Holdings joins successes that include SumTotal Systems, which came to Gainesville in 2010 and has created over 200 jobs with plans on hiring 100 more in the next year, and Silver Airways and Mindtree Ltd., which both came in 2012 and are creating 120 and 400 jobs, respectively, in the next few years.
How does Target open 124 Canada stores in a year? Time-lapse! (BizJournals)
Target Corp. is having to work fast to get scores of stores opened in Canada this year. Not quite this fast, but fast. The Minneapolis-based retailer’s A Bullseye View blog posted a two-minute video (also embedded below) of the floor-to-ceiling construction of one of its Ontario stores, 24 of which held their grand openings on Friday. Target began opening the stores on a soft-launch basis a few weeks ago.
