Finance & Capital Management

Hingham, Mass. -- Talbots Inc. reported Thursday a loss of $22 million for the third quarter, compared with a profit of $17 million in the year-ago period. It was the apparel retailer’s third loss in four quarters. Talbots has posted an annual loss in three of the last four years.

Bensalem, Pa. -- Charming Shoppes reported Thursday that its loss in the 3Q narrowed to $13 million from a loss of $18.8 million a year earlier. Revenue in the quarter dropped to $429.7 million, from $463.6 million last year, and same-store sales decreased 4%.

The retailer said it is conducting a strategic review of its operations, which includes the divestiture of its Fashion Bug business and the expansion of its Lane Bryant brand.

Columbus, Ohio -- Express Inc. reported Thursday that profit for the quarter ended Oct. 29 climbed 24% to $32.7 million, from $26.3 million in the year-ago period.

Revenue increased 8% to $486.8 million, just missing Wall Street’s expected $488.2 million, and same-store sales increase 5%.

Online sales surged 41%.
 

New York City -- The discount and wholesale club sector was hit and miss in November, as Costco shone with a 9% rise in same-store sales for the month, but Target missed Wall Street expectations with a weak gain.

New York City -- In a heavy promotional environment starring early sales and steep discounting, the department store players turned in mixed performances in November. Industry-wide retail sales on Black Friday rose 7% to $11.4 billion, the largest amount ever spent, according to ShopperTrak.

New York City -- Most retailers are reporting strong sales gains in November, with their performance boosted by heavy traffic over a promotion-fueled Black Friday weekend. Among the retailers that reported results beating Wall Street expectations were Macy’s, Costco Wholesale, Limited Brands and The Buckle.

Target was a notable exception in November, reporting a same-store sales gain of 1.8%, missing Wall Street’s expected 2.8% gain.

ALBANY, N.Y. — Trans World Entertainment has named Tom Seaver CFO, effective immediately. Seaver, a Certified Public Accountant, brings more than 20 years of experience with Albany International, a global company that develops and manufactures advanced textiles and materials.  Most recently, he held the position of VP strategic planning and previously held the position of VP finance Global PMC.

The strong customer traffic and sales trends retailers’ experienced Thanksgiving weekend extended into Cyber Monday when shoppers maintained their record pace of spending and propelled online sales to new heights.

WASHINGTON — Internet retailers have an unfair advantage over Main Street merchants when it comes to sales tax, and legislation may be the solution to help level the playing field, according to the National Retail Federation.

NEW YORK  — Republican and Democrat retail executives both have something to look forward to in 2012 as former presidents Bill Clinton and George W. Bush are scheduled to speak at major industry events.

Clinton is first up at the National Retail Federation annual convention in New York on Jan.16, while Bush will serve as the keynote speaker at the National Association of Chain Drug Stores annual meeting in Palm Beach, Fla. April 21 to 24.