Finance & Capital Management

West Palm Beach, Fla. -- FTI Consulting predicts a 4.9% increase in sales this holiday season in its 2013 Holiday Retail Report. Despite slowing discretionary spending growth in recent months and anxiety over political turmoil in Washington, FTI retail and consumer products industry professionals anticipate a potential silver lining to this holiday season.

Despite posting a larger-than-expected loss for its third quarter, J.C. Penney pointed to hopeful signs that its business is starting to stabilize as its heads into the holiday season.

Penney reported a loss of $489 million in the three months ended Nov.2, compared with a loss of $123 million in the year-ago period.

Sales fell 5.1% to $2.78 billion. Same-store sales were down 4.8%, but the period ended with its first monthly gain since December 2011. And online sales rose 24.5%, to $266 million.

Austin, Texas — Jones Lang LaSalle has announced the addition of seven brokerage experts to its national program. Austin McWilliams joined the firm as a senior VP; Travis Sawvell and Jon Switzer joined as VPs, and Katie Carlisle joined as an associate, all based in Austin. Their additions come on the heels of the firm’s newly formed Austin Retail Brokerage practice led by newcomers Todd Wallace and Robert O’Farrell.  

Chicago -- Almost half of Americans (46%) report they will spend less on the holidays than last year, with those living in the South more likely than any other region to say they plan to spend less this year at 55%.

An online survey conducted in October 2013 among 2,014 Americans ages 18 and older by Harris Interactive on behalf of online lender CashNetUSA also shows that only 8% of Americans indicate they plan to spend more on the holidays this year than last year and 37% indicated they would spend the same as last year.  

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.

Plano, Texas -- J.C. Penney posted a bigger-than-expected loss for its third quarter. But the struggling retailer pointed to hopeful signs that its business is starting to stabilize as its heads into the holiday season.

Penney reported a loss of $489 million in the three months ended Nov.2, compared with a loss of $123 million in the year ago period.

Sales fell 5.1% to $2.78 billion. Same-store sales were down 4.8%, but the period ended with its first monthly gain since December 2011. And online sales rose 24.5%, to $266 million.

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.

Mooresville, N.C. -- Lowe's Cos. net income rose 26% in the third quarter, just short of projections, amid the housing market's ongoing resurgence. The retailer raised its fiscal 2013 outlook, but its earnings forecast was still below expectations.

Lowe's earned $499 million for the period ended Nov. 1, up from $396 million last year. Its earnings were a penny per share short of Wall Street expectations.

Revenue rose 7% to $12.96 billion from $12.07 billion, beating analysts’ predictions. Same-store sales increased 6.2%.