Consumer Affairs & Relations

Ross Stores didn’t let a surprisingly strong third quarter comp increase go to its head and maintained a cautious view of consumer spending.

Sales at the company increased 8% to nearly $2.6 billion and same store sales increased 4%. Net income increased to $193 million, or 93 cents a share, from $172 million, or 80 cents a share.

CINCINNATI - Americans are divided on the merits of shopping on Thanksgiving Day.  The latest LoyaltyOne research shows there are three kinds of American Thanksgiving Day shoppers:  50% who say all-day shopping hours on Thanksgiving Day are a bad idea; 33% who say stores being open all day Thanksgiving is a great idea that provides more time for holiday gift shopping and 17% who can’t make up their mind.

Goodlettsville, Tenn. - Dollar General Corporation isn’t giving up. The deep discounter on Wednesday  affirmed its commitment to the acquisition of rival Family Dollar Stores. Dollar General’s comments followed the news that Family Dollar has delayed its shareholder vote on its $8.5 billion deal to be bought by Dollar Tree Inc. from Dec. 11 to Dec. 23.

Lowe’s said its third quarter same store sales spiked 5.1% a day after Home Depot reported an even stronger increase.

Total company sales increased 5.6% to $13.7 billion driven by increased productivity of existing stores as evidenced by a 5.1% comp increase. Home Depot said its third quarter same store sales increased 5.8%. Lowe’s profits increased 17.3% to $585 million while earnings per share increased 25.5% to 59 cents and were aided by $900 million in share repurchase activity.

ANAHEIM, Calif. — Pacific Sunwear of California announced the appointment of Amber Fredman-Tarshis as its senior VP and chief marketing officer.  She most recently served as CMO of Guess?. Fredman-Tarshis’ background also includes executive roles at Puma, Warner Bros., Victoria's Secret.
 

Ann Arbor, Mich. – Domino’s Pizza is continuing its international growth by opening its first store in Kenya. Master Kenya franchise holder Om Nom Nom Ltd. opened a store in Nairobi Nov.8 and will open more stores in the city in the next few years.
"Establishing ourselves in Kenya provides an excellent opportunity for our brand to continue growing globally," said Ritch Allison, Domino's Pizza international president. "Domino's has terrific potential to offer an unmatched pizza experience to the people of Nairobi."

By Todd Waskelis, AT&T

Plano, Texas – J.C. Penney Company Inc. has provided an equity inducement award of 2.07 million restricted stock units (RSUs) to Marvin Ellison, the company’s president and CEO-designee, in connection with his employment. Penney previously disclosed this award in connection with the announcement of Ellison`s appointment in October.

New Delhi, India – The India unit of Wal-Mart Stores Inc. has reportedly fired a mid-level manager as part of a probe into alleged bribery violations. According to the Economic Times, Wal-Mart gave the manager a termination notice last week, two years after the company suspended its former India CEO and legal team due to possible violations of U.S. anti-bribery laws.

Toronto, Canada – The bad news continued for Sears Canada Inc. during the third quarter of fiscal 2014. Following the announcement by parent company Sears Holding that it would sell off most of its 51% ownership stake to shareholders and reports that J.P. Morgan Chase & Co. will end its agreement to issue credit cards for Sears Canada in November 2015, Sears Canada reported a net loss of $118.7 million, significantly larger than the $48.8 million net loss reported the same period a year earlier.