Finance & Capital Management

New York City -- Gap Inc. on Thursday opened its first store in Poland, in Warsaw’s Arkadia mall.

Gap and its Polish franchise partner, Ultimate Fashion, are planning to open more stores in Poland in 2012 and expand to other countries in the region.
 

MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

WILLIAMSVILLE, N.Y. — Regional supermarket chain Tops Markets reported a 3.6% increase in net sales for the period ended Oct. 8.

Third-quarter net sales rose $18.7 million to $538.6 million, the retailer said. Supermarket sales (excluding gasoline sales) totaled $491 million, up $7.5 million, or 1.5%, compared with the year-ago period.

St. Louis -- Brown Shoe Co. said Monday that while profit rose dramatically in the third quarter thanks to a business unit divestiture, the retailer will cut several of its lines and close underperforming stores nationwide to shore up profitability.

Fort Myers, Fla. -- Chico's FAS reported Tuesday that net income for the quarter ended Oct. 29 fell to $26.5 million, compared with $28.8 million a year earlier. Results include costs associated with the company’s acquisition of Boston Proper.

Net sales for the quarter increased 11.5% to $538.5 million, from $483 million. Same-store sales increased 3.7%. By brand, Chico's/Soma Intimates same-store sales increased 0.6

North Plainfield, N.J. -- Shopping center owner and manager Levin Management Corp., in its annual pre-holiday survey, found that more than a third of its retail tenants predict 2011 sales will be higher than 2010’s, while just 18.9% project a drop in sales for the 2011 holiday season.

The remaining 44.2% expect this year’s holiday sales to mirror last year’s.

Amsterdam -- A Monday report by Bloomberg said that Royal Ahold NV will grow its online business, expand its store count in Belgium and add 150 convenience operations in an effort to ramp up sales.

The Dutch owner of Stop & Shop is also on a cost-cutting mission, saying it will reduce expense by $473 million over three years via supply chain improvements and a reduction in logistics and overhead expense.

WILLIAMSVILLE, N.Y. — Regional supermarket chain Tops Markets reported a 3.6% increase in net sales for the period ended Oct. 8.

Third-quarter net sales rose $18.7 million to $538.6 million, the retailer said. Supermarket sales (excluding gasoline sales) totaled $491 million, up $7.5 million, or 1.5%, compared with the year-ago period.