Finance & Capital Management

Mumbai, India -- A Monday report by Reuters said that the world’s third-largest retailer Tesco Plc has delayed its plans to set up wholesale stores in India, as it faces mountains of political red tape and controversy in the country.

Reuters, citing a report in the Business Standard newspaper, said that the supermarket giant will instead focus on setting up warehouses and back-end infrastructure. 

Bentonville, Ark. -- Wal-Mart Stores Inc. said Monday that it has kicked off its "12 Days of Giving" campaign, awarding over $1.5 million to nonprofits that were nominated by Facebook users. By the end of the campaign, 145 grant recipients in all 50 states, Washington, D.C., and Puerto Rico, will be honored. Twenty-five nonprofits that have stepped up to fight hunger are receiving a total of $130,000 on the first day of giving.

Indianapolis -- Simon Property Group announced that, in 50/50 partnership with Genting Berhad, it has opened Johor Premium Outlets, its first Premium Outlet Center in Southeast Asia.

The center encompasses 173,000 sq. ft. of GLA featuring 80 stores and is strategically located in Johor Bahur, Malaysia. A grand opening celebration will take place on December 11.

Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that True Religion has opened at Cherry Hill Mall, located in Cherry Hill, N.J.

The 1,500-sq.-ft. fashion denim store is located by the Grand Court.

ABILENE, Kan. — Broad-line retailer Duckwall-ALCO Stores increased sales and returned to profit in the third-quarter as the company continued to experience top-line growth across multiple categories. The company reported that net sales for the third quarter of fiscal 2012 increased 3.6% to $109.8 million, compared with the third quarter of fiscal 2011. Same-store sales, excluding fuel center sales, increased 2.7%. 

ST. LOUIS — Joe McClanathan, president and CEO of the Energizer household products division, will retire in the first half of 2012, Energizer Holdings announced Friday. He will be succeeded by Alan Hoskins, VP Asia-Pacific, Africa and Middle East.

WAYNE, N.J. — Toys“R”Us' focus on the upcoming holiday shopping season was reflected in its third quarter results, which included a sales decrease. The company reported that net sales for the quarter were $2.7 billion, compared to $2.72 billion in the prior year. The company said it saw continued strength in learning and core toys, while the video game category remains a challenge.

Comparable store net sales decreased by 2.2% in the domestic segment and 3.9% in the international segment. 

New York City -- The Thomson Reuters/University of Michigan preliminary index of consumer sentiment showed Friday that confidence among U.S. consumers rose more than forecast in December as Americans’ outlooks improved. 

The index rose to 67.7, a six-month high, from 64.1 at the end of November. The median estimate of 73 economists surveyed by Bloomberg News called for a reading of 65.8. The gauge averaged 89 in the five years leading up to the recession that began in December 2007 and ended in June 2009. 

Wayne, N.J. -- Toys “R” Us reported Friday an operating loss of $75 million for the quarter ended Oct. 29, compared with a loss of $62 million in the year-ago period. Adjusted EBITDA was $36 million, compared with $49 million in the prior year.

Sales dipped to $2.7 billion from $2.72 billion a year earlier, and same-store sales fell 2.2% domestically and 3.9% internationally.

Chicago -- Illinois House leaders have agreed to pass tax breaks in order to keep Sears Holdings Corp. from abandoning its Hoffman Estates, Ill., headquarters in search of a new out-of-state home, according to Reuters.

The deal is also designed to keep Ill.-based securities and commodities trading company CME Group in-state as well.

The House had previously shot down the tax package.