Consumer Affairs & Relations

New York -- Lowe's Cos. said Monday that its third-quarter net income jumped 76%, helped by lower costs and higher revenue. Its adjusted earnings without charges and its revenue both beat Wall Street forecasts.  

Lowe's earned $396 million for the three months ended Nov. 2. That compares with $225 in the year-ago period. Revenue rose 2% to $12.07 billion from $11.85 billion. Same-store sales were up 1.8%.

New York -- Foot Locker Inc. reported Friday that net income for the quarter ended Oct. 27 surged 61% to $106 million, compared with $66 million in the year-ago period. The recent quarter's results, which surpassed Wall Street expectations, included a $9 million tax benefit stemming from the settlement of a foreign tax audit.
 
Revenue rose 9.3% to $1.52 billion from $1.39 billion, beating analysts’ expected $1.47 billion in revenue. Same-store sales climbed 10.2%.

Value never goes out of style during the holiday’s and Ross Stores is well positioned to capitalize on this most enduring of seasonal behaviors.

Portland, Ore. -- The city council of Portland, Ore., voted to expand the city's one-year old plastic bag ban, voting 5-0 to phase out plastic checkout bags at an estimated 5,000 restaurants and retailers.

The ban will impact retailers larger than 10,000 -sq.-ft. on March 1, 2013, and the remaining retailers on October 1, 2013. Portland's 2011 rule affected fewer than 200 businesses.

Retailers will still be able to provide plastic bags for bulk items, produce, meats, dry cleaning and prescription drugs.

Walmart has taken heat for violating some unwritten retail rule about not opening on Thanksgiving, but on Thursday it extended a benefit that many employees will find appealing.

Walmart has long offered employees a 10% discount on general merchandise, which is pretty hefty considering prices are already low. That discount is in place all year and then in December employees could also save 10% on food.

Boca Raton, Fla. -- In a letter to Office Depot Inc., activist investor Starboard Value asked the office supply retailer to immediately revoke its poison pill provision on the grounds that it would limit the influence of shareholders.

Starboard, Office Depot’s largest shareholder with a 14.8% stake, wrote that it believes “the implementation of the poison pill, with a threshold just above our current ownership, is designed specifically to entrench the current board.”

Bentonville, Ark. -- Wal-Mart Stores Inc. on Thursday filed an unfair labor practice charge against the United Food and Commercial Workers International Union, requesting that the National Labor Relations Board halt alleged unlawful attempts to disrupt Wal-Mart’s business.

Wal-Mart spokesman David Tovar told Reuters that the retailer cannot allow the UFCW to “continue to intentionally seek to create an environment that could directly and adversely impact our customers and associates. If they do, they will be held accountable,” he said.

For a split second after the presidential election the victor and the vanquished struck a conciliatory tone on finding the balance between raising taxes and cutting spending. Wal-Mart Stores, Inc. president and CEO Mike Duke wants the issue resolved as soon as possible.

Duke was among a group of business leaders in Washington earlier this week meeting with President Barack Obama and following the meeting Walmart released a statement expressing his views on the issue.