Finance & Capital Management

New Albany, Ohio -- Abercrombie & Fitch Co. swung to a loss in its third quarter, dragged down in part by charges related to the shuttering of its 28 freestanding Gilly Hicks stores. But its adjusted profit topped analysts' estimates, even as its sales softened.

Rockville, Md. — TitleMax, a title lending company, and Curry in a Hurry have signed leases in the Washington, D.C., metropolitan area, according to Divaris Real Estate, which represented both tenants in the transactions.

TitleMax took 1,850 sq. ft. in Manassas Park Center in Manassas Park, Va. TitleMax has more than 1,000 stores in 12 states.

Curry in a Hurry leased 1,706 sq. ft. in Southbridge Plaza in Dumfries, Va. Curry in a Hurry joins Quiznos, Five Guys, Pizza Boli’s and Mandrian Court.

The electronic currency known as bitcoin allows small- and medium-size companies to reach more customers by opening new markets that were previously unreachable, the co-founder of a company that allows businesses to use bitcoins said in testimony this week before two Senate subcommittees. And it appears that federal authorities are open to its development.

Jacksonville, Fla. -- Stein Mart reported a return to profit in the third quarter, recording net income of $28,000 for the period ended Nov. 2, compared with a loss of $1.7 million last year. Results matched Wall Street expectations.

Revenue climbed 6% to $290.5 million from $273.7 million, topping Wall Street's estimate of $287.9 million. Same-store sales rose 4.8%.

Lowe's Canada has restructured its senior leadership team ahead of plans to continue growing its footprint in Canada.

New York -- Stage Stores said Thursday that its fiscal third-quarter loss widened as some expenses rose. The company cut its fiscal 2013 adjusted earnings forecast.

The department store retailer lost $11 million for the period ended Nov. 2, compared to a loss of $8.9 million.

Revenue declined 3% to $360.2 million, from $370.6 million. Same-store sales fell 4.6%.

Selling, general and administrative expenses climbed to $98.6 million from $92.5 million during the quarter. Interest expense increased to $718,000 from $568,000.

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."

Hoffman Estates, Ill. -- Sears Holdings widened its loss in the third quarter as sales decreased at both its Sears and Kmart units.

For the three months ended Nov. 2, Sears lost $534 million, down from a loss of $498 million a year earlier.

Revenue fell 7% to $8.27 billion from $8.86 billion mostly because it had fewer Sears and Kmart stores operating.

Same-store sales dropped 3.1%, and were down 4% at Sears' stores and declined 2.1% at Kmart stores.