International Business

New York -- Ann Inc. on Wednesday reported net income was $40.7 million in the third quarter of 2012, versus $32.3 million in third quarter 2011. The company also increased its outlook for the full year of fiscal 2012.

Total net sales for quarter were $612.5 million, compared $564.0 million in the year-ago period. By brand, net sales across all channels of the Ann Taylor brand totaled $244.6 million compared with net sales of $229.7 last year At the Loft brand, net sales across all channels were $368.0 million, compared with $334.3 million last year.

Branded food supplier ConAgra’s acquisition of private label rival Ralcorp promises to create an interesting new dynamic when it comes to trading partner relationships.

Earlier this week, the companies announced they had reached an agreement valued at $6.8 billion whereby ConAgra will acquire Ralcorp for $90 a share to create one of the nation’s largest food companies with annual sales of roughly $18 billion.

Toronto -- To better accommodate its customers in Western Canada, Toys “R” Us has partnered with SCI Logistics to open a new distribution center in Delta, British Columbia. The 180,000-sq.-ft. facility is strategically positioned to receive goods from overseas and domestic manufacturers who can now ship directly to British Columbia for distribution to local Toys “R” Us and Babies “R” Us stores.

Rapidly growing food retailer The Fresh Market experienced a bit of a hiccup with its third quarter results, but president and CEO Craig Carlock contends the company’s long term vision remains intact.

Sales at the 128 unit retailer increased 22.1% to $321.5 million and profits increased 19% to $10.9 million, but analysts were looking for stronger profits and lower expenses. Some also believed the company’s relatively young store base should have produced a same store sales increase stronger than the 5.6% figure the company reported.

Specialty retailer Express said its same store sales for the third quarter ended October 27, declined 5% and profits declined to $17.4 million, or 20 cents a share, compared to $32.7 million, or 37 cents a share.

Total sales for the period declined 4% to $468.5 million and gross margins contracted to 32.3% of sales from 36.2% of sales the prior year. Expenses increased to 25.1% of sales form 23.6% of sales.

American Greetings is delaying plans to develop a new world headquarters pending the resolution of a buyout proposal from CEO Zev Weiss and other members of management.

American Greetings board of directors believed it was advisable to temporarily delay the project in light of the proposal from Weiss, president and COO Jeffrey Weiss and other members of the Weiss family to take the company private.

Target is working its way across Canada beginning this week by hosting special events in 20 cities to build interest in the planned opening of 124 stores in 2013.

With an eye on expansion, both from customer engagement and operational perspectives, retailers are eager to revitalize their brands and overall shopping experiences, according to industry experts. The upcoming 102nd annual NRF Convention & EXPO, produced by The National Retail Federation, Washington, D.C., promises to educate attendees on these and other business strategies.