Finance & Capital Management

Continued sales momentum at Stein Mart helped drive the company’s third quarter results, which saw both net and same-store increases.

The company reported net income for the quarter of $28 thousand compared to a net loss of $1.7 million in 2012.

"Our earnings continue to improve as a result of our continued sales momentum," said CEO Jay Stein. "We have been very focused on refining our brands, pricing and sales execution and the improvements are evident in our results."

The Sembler Company completed two major redevelopments during 2013. The company redeveloped the Nokomis Village Shopping Center in Nokomis, Fla., and Park 66 in Pinellas Park, Fla.

Anchored by a redeveloped Publix, which re-opened in mid-November, and Anthony’s Ladies Apparel, improvements to the 143,697-sq.-ft. Nokomis Village include building façade upgrades and landscaping. Inline tenants include Saltwater Café, New China Restaurant, Hot Nails, Ophelia’s Pasta and Subway.

New York -- Eminence Capital which owns 9.8% of the common stock of The Men's Wearhouse and is its single largest shareholder, on Wednesday released a presentation describing why Men’s Wearhouse board of directors should engage in merger discussions with Jos. A. Bank Clothiers, Inc. Eminence Capital also said that it has retained Moelis & Company as a strategic advisor.

Strong retail sales in the month of October point to a good holiday sales season ahead. According to the National Retail Federation, October retail sales, excluding automobiles, gas stations and restaurants, increased 2.5% seasonally adjusted over September, and 4.2% unadjusted from 2012.

In a broader view, October retail sales released Wednesday by the U.S. Census Bureau, which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants, increased 0.4% seasonally adjusted month-to-month, and 3.9% adjusted year-over-year.

Despite a weak demand for core office supplies, Staples is driving growth online and in new categories, which resulted in net earnings of $135.2 million for the third quarter ended Nov. 2, compared with a loss of $596.2 million a year earlier.

Thanks to a housing market that continues to flourish, Lowe's had a solid third quarter, with sizable gains in earnings and sales.

The company's net earnings jumped 26% to $499 million. Sales for the quarter increased 7.3% to $13 billion, up from $12.1 billion in the year ago quarter. Comparable sales for the quarter increased 6.2%.

Framingham, Mass. -- Staples reported net earnings of $135.2 million for the third quarter ended Nov. 2, compared with a loss of $596.2 million a year earlier.

Sales fell to $6.11 billion from $6.35 billion as the retailer was challenged by soft demand for its products and closed stores in Europe and North America. Same-store sales in North America, excluding sales through Staples.com, fell 3%.

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sale of Chambersburg Mall in Chambersburg, Pa., for $8.8 million.The sale marks another step in PREIT’s continuing effort to improve the quality of its portfolio through the sale of non-core assets. Net proceeds from the transaction totaled approximately $8.4 million.