Finance & Capital Management

New York -- Ann Inc. on Wednesday reported net income was $40.7 million in the third quarter of 2012, versus $32.3 million in third quarter 2011. The company also increased its outlook for the full year of fiscal 2012.

Total net sales for quarter were $612.5 million, compared $564.0 million in the year-ago period. By brand, net sales across all channels of the Ann Taylor brand totaled $244.6 million compared with net sales of $229.7 last year At the Loft brand, net sales across all channels were $368.0 million, compared with $334.3 million last year.

Issaquah, Wash. -- Costco Wholesale Corp. on Wednesday said it will pay a special dividend worth some $3.0 billion to investors, sending cash to its shareholders ahead of a likely increase in the dividend tax. The chain also posted monthly same-store sales that beat analysts' expectations.

“Our strong balance sheet and favorable access to the credit markets allow us to provide shareholders with this dividend,” Costco CFO Richard Galanti said in a statement.

Columbus, Ohio -- Express Inc. reported that its net income for the quarter ended Oct. 27 fell to $17.4 million, from $32.7 million a year earlier, amid a fall in same-store sales.

Net sales fell 4% to $468.5 million. Same-store sales declined 5%.

By Brendan W. Walsh, [email protected]

ROCHESTER, N.Y. — Crosman Corporation, an international designer, manufacturer and marketer of a wide range of products for the shooting sports, has named Lenn Phegley as its VP of manufacturing. Phegley replaces Dan Schultz, who retired after 39 years of service.  

In his new position, Phegley will oversee all manufacturing operations, as well as the company’s environmental, health and safety, manufacturing engineering, design engineering and quality assurance functions.

Washington, D.C. -- A report released Tuesday by the Conference Board showed that consumer confidence rose in November to the highest level in more than four years.

The confidence index climbed to 73.7, the highest since February 2008, from a revised 73.1 reading the prior month, indicating that U.S. household spending will keep growing.

A median forecast of 75 economists surveyed by Bloomberg projected a reading of 73.

Dallas -- Neiman Marcus Group reported Tuesday that earnings for the first quarter rose to $127.8 million, compared with $122.8 million in the year-ago period.

Sales rose to $1.07 billion for the quarter, from $1.00 billion last year. Same-store sales climbed 5.4%.

Not even a hurricane named Sandy could erode the economic upsurge experienced by the northeastern United States over the last year. What this region rebuilt after the Great Recession has managed to stay strong even in the face of Sandy’s 80-mph winds, record flooding and the damage inflicted by its nor’easter sister that arrived just days after the fall 2012 hurricane.

By Kumar Venkataraman

Over the last decade, America’s Atlantic shores have faced the wrath of more than a dozen hurricanes, causing damage worth several billion dollars. Year after year, retailers have been learning and fine-tuning their strategies to respond to the critical needs of consumers in the impacted areas, both in preparing for a disaster and immediately after.

With an eye on expansion, both from customer engagement and operational perspectives, retailers are eager to revitalize their brands and overall shopping experiences, according to industry experts. The upcoming 102nd annual NRF Convention & EXPO, produced by The National Retail Federation, Washington, D.C., promises to educate attendees on these and other business strategies.