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International Business

  • Target well-positioned for holidays too

    A 2.9% third quarter same store sales increase and the sale of its credit card business pushed Target’s third quarter profit up 17.6% to 96 cents a share.

    Total sales increased 3.4% to $16.6 billion in third quarter due to the 2.9% comp increase and the benefit of a net increase of 18 stores compared to the prior year. Target ended the period with 1,781 stores and was up against a challenging prior year comparison when comps advanced 4.3%.

  • Staples swings to loss in Q3, beats estimates

    Framingham, Mass. -- Staples Inc. reported Wednesday a loss of $596.3 million for the third quarter, compared with a profit of $326.4 million a year earlier. Without restructuring costs, the office supply retailer generated a profit that just edged Wall Street expectations.

    Sales for the quarter dropped 2% to $6.35 billion, missing analysts’ expected $6.45 billion in sales.

  • Staples results reflect economic weakness

    Third quarter sales at Staples declined 2% to a little less than $6.4 billion and a host of previously announced charges resulted in the company reporting a loss of $569 million or 85 cents a share.

  • Abercrombie and Fitch profit surges in Q3, raises outlook

    Columbus, Ohio -- Abercrombie and Fitch reported Wednesday net income of $71.5 million for the third quarter, compared with $50.9 million in the year-ago period and beating Wall Street expectations. The retailer is forecasting annual earnings above analysts’ estimates.

    Revenue rose 9% to $1.17 billion, boosted by a 37% rise in international sales. Same-store sales dipped 3%.

     

  • IBM Retail User Group changes name

    Strongsville, Ohio -- The International Retail User Group, formerly the IBM Retail User Group, said Tuesday that the organization’s name has been officially changed to the “International Retail User Group.”

  • Pepsico taps Washington insider for public policy job

    Alan Hoffman, former deputy chief of staff to Vice President Joe Biden, is the new SVP of global public policy and government affairs at PepsiCo.

  • Target to seek LEED certification for all 2013 Canadian stores

    Toronto -- Target Corp. announced Wednesday it is pursuing Leadership in Energy & Environmental Design (LEED) certification for all Canadian stores opening in 2013.

    Design plans include conserving energy and water, reducing greenhouse gas emissions and limiting waste sent to landfill, among other features.

  • LogicSource names new top sales exec

    Jonathan Dall has joined sourcing solutions firm LogicSource as chief sales officer, a new position for the Norwalk, CT., based company owned by Bain Capital.

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