Consumer Affairs & Relations

HUDSON, Ohio — While many retailers are boasting about opening on Thanksgiving Day night to give shoppers an early start on the Black Friday weekend, Jo-Ann Fabric and Craft Stores is going in a different direction and will stay closed for the holiday. 

SECAUCUS, N.J. — The economy may be keeping some families from purchasing new clothes for their children, but that didn't stop The Children's Place from delivering earnings that beat estimates.

The company reported income from continuing operations of $33.7 million, or $1.33 per diluted share, compared with $31.2 million, or $1.14 per diluted share, in the third quarter of 2010. Analysts were expecting earnings of $1.27 per diluted share.

SALISBURY, N.C. — Network growth and higher retail inflation prompted growth in both revenues and comparable-store sales for Delhaize America, the U.S. division of Delhaize Group, for the third quarter ended Sept. 30.

Revenues realized a gain of 3.5% to $4.9 billion, compared with the year-ago period, while comparable-store sales jumped 1.9%. Delhaize, however, acknowledged that due to the economic environment and the decrease of consumer confidence, particularly in the southeastern United States, volume trends were down from the previous quarter.

Pittsburgh -- Giant Eagle announced that its Board of Directors has named Laura Shapira Karet to serve as the company's CEO, and John Lucot to serve as the company's president and COO, effective January 9, 2012.

Karet, 42, will succeed her father David Shapira, who will assume the position of executive chairman of Giant Eagle's Board of Directors.  Shapira has served the privately-held, family-owned company for 41 of its 80 year-history, and has been CEO since 1980.

BENTONVILLE, Ark. — Sam's Club announced that it will donate $1 million to support child hunger programs through feeding America as part of its Holiday Taste of Sam's Club event Nov. 18 to 20.

Framingham, Mass. -- Staples Inc. reported Tuesday that profit for the third quarter climbed 13% to $326.4 million, from $288.7 million a year earlier. Earnings met Wall Street expectations.

Revenue rose 1% to $6.57 billion from $6.54 billion, missing analysts’ expected $6.71 billion. North American retail unit revenue was flat at $2.7 billion, with same-store sales down 1%. International revenue slid 7% on a local currency basis to $1.3 billion, leading the retailer to adjust its full-year forecast downward.

New York City -- Saks Inc. reported Tuesday that profit for the quarter ended Oct. 29 slid to $17.8 million from $36.3 million a year earlier, still beating Wall Street expectations. Last year’s results were boosted by a large tax reserve-related gain.

Revenue rose 5% to $692.3 million from $658.8 million, surpassing analysts’ predictions of $690.6 million. Results were boosted by more full-price selling and fewer promotions.
 

Los Angeles -- A report released Tuesday by CBRE Group said that New York City remains the world’s most expensive shopping destination as retailers focus on the major fashion capitals.

“Retailers continued to expand their store networks to gain market share during the third quarter despite concerns regarding consumer confidence,” said Anthony Buono, CBRE executive managing director of retail services.