Consumer Affairs & Relations

With rival AutoZone continuing to produce record results, Pep Boys' financial performance is headed in the opposite direction as uncertainty looms over who will acquire the company.

Pep Boys reported a 1.8% decrease in same store sales for the period ended Oct. 31. Net sales decreased by $9.4 million, or 1.8%, to $508.1 million from $517.6 million in the prior year. Net earnings were $1.3 million or 2 cents per share as compared to a net loss of $2 million in the prior year.

It’s like it is 1997 all over again with the Federal Trade Commission stepping in to block a merger between Staples and Office Depot on grounds that the deal would diminish competition.

Walmart is the only chain retailer to fully meet a goal it made related to an initiative of opening stores in “food deserts,” the Associated Press reported. [Associated Press]

The founder and ousted CEO of the embattled American Apparel is nothing if not determined.

Charney said he has hired Los Angeles-based Cardinal Advisors to evaluate options as he explores plans with new and existing investors and industry executives to revive the company, which filed for bankruptcy in October.

Barnes & Noble’s new CEO Ron Boire, who took the reins of the company in September, wants to transform the chain into a “lifestyle brand” by expanding its selection of toys, games, gadgets and other gifts, according to a report in The New York Times. [The New York Times]

Strong same-store sales in the third quarter did not keep Genesco Inc. from lowering its guidance, as the company takes steps to reduce inventory through promotions and discounts.

The specialty retailer of hats and accessories said that for the third quarter ended Oct. 31, same-store sales increased 7%. Income was $32.9 million, or $1.43 per diluted share, compared to earnings from continuing operations of $28.8 million, or $1.21 per diluted share, for the prior year quarter. Revenue was $774 million from $723 million in the third quarter of fiscal 2015.

Amazon.com is noted for a focus on operational efficiency that is intense, to say the least. However, as the Seattle Times reports, Amazon consistently ranks near the top of customer service rankings by using customer service agents and technologies to ensure customer satisfaction, not rapid turnover. [Seattle Times]

The nation’s largest supermarket operator reported profit that surpassed Wall Street expectations and raised its annual forecast.

Kroger Co.’s third-quarter earnings rose 18% to $428 million.

Revenue inched up 0.4% to $25.08 billion for the quarter, ended Nov. 7. missing Street forecasts of $25.22 billion. Kroger cited lower fuel prices as impacting sales.

Same-store sales, excluding fuel, rose 5.4%, more than expected. It was the chain’s 48th consecutive quarter of positive same-store sales growth (excluding fuel.)

Saks Fifth Avenue Off 5th continues to expand north of the border.

The off-price retailer and Ivanhoé Cambridge announced an agreement to bring four new Saks Off 5th locations to Canada. The stores, the brand’s first in their respective markets, will open in four Ivanhoé Cambridge shopping centers: Tsawwassen Mills, Tsawwassen, B.C., Outlet Collection Winnipeg; Place Ste-Foy, Quebec City; and Montreal Eaton Centre, Montreal.

Here are the details on the four locations:

The chief executives of H&M, Gap Inc. and five other apparel companies are urging world leaders to agree to a strong climate change deal because they fear global warming will drive up their costs by having a negative impact on cotton production, Reuters reported. [Reuters]