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  • 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%.

  • Family Dollar emphasizes budget priced brands

    MATTHEWS, N.C. — Family Dollar is positioning itself as a one-stop shop for families this holiday season.

    The company plans to have in stock hundreds of toys and gifts priced at $10 or less at its more than 7,000 nationwide locations. The single price point strategy is designed to appeal to the large segment of shoppers hard-hit by the economy and who need stretch their holiday budgets.

  • IKEA to double size of California store

    CONSHOHOCKEN, Pa. — IKEA intends to submit plans to the City of Burbank, California, for a new, larger location to replace its current one in the Los Angeles area.

  • Hot Topic profit jumps in Q3

    City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit for the third quarter jumped 38% to $4.3 million, from $3.1 million in the year-ago quarter.

    Revenue edged up 2% to $179.4 million from $175.8 million, missing Wall Street’s expected $182.9 million in revenue.

    Same-store sales rose a slight 0.2%.

  • Kellogg gives retailers products to chew on in 2013

    BATTLE CREEK, Mich. — Kellogg plans to debut new snacks, including cereal bars, crackers, crisps and cookies, in 2013.

    "We have such a strong line-up of snack brands, including Pringles, Cheez-it, Special K, Keebler and Nutri-Grain," said Alan Gravely, SVP of marketing and innovation for Kellogg Snacks. "So we are building off these brands with new products that reflect our deep understanding of people's evolving taste preferences and nutrition needs."

  • Nestle Waters North America names new president and CEO

    STAMFORD, Conn. — Nestle Waters North America has named Tim Brown as its new president and CEO. Brown replaces current Nestle Waters North America president and CEO Kim Jeffery, who plans to assume a non-executive chairman position effective Feb. 1, 2013.

  • Sean John names Jeffrey Tweedy to top role

    NEW YORK, N.Y. — Sean John Corporate has named Jeff Tweedy as the fashion brand’s new president, effective immediately. Tweedy will report directly to Sean John chairman and founder Sean "Diddy" Combs, and will be responsible for all aspects of the company's operations, including strategic brand development, design and all the Sean John licensing and retail partners.

  • Ikea seeks to build larger store in Burbank, Calif.

    Conshohocken, Pa. – Ikea announced it is submitting plans to the City of Burbank, Calif., for a new and larger store to replace its current location among the Swedish retailer’s presence in the Los Angeles area. The application will mark the beginning of the governmental review process for this proposed relocation.

  • Gap ups outlook on strong Q3

    San Francisco -- Gap Inc. raised its outlook for the year after reporting better-than-expected net income for the third quarter on growing sales. It was the latest sign that the long beleaguered chain may be finally entering a turnaround.

    For the three months ended Oct. 27, the company said it earned $308 million, compared with $193 million in the year

  • Tommy Bahama prepares to open Fifth Ave. flagship

    New York -- Tommy Bahama Group Inc. said Thursday its first Tommy Bahama global flagship store will open on Nov. 17 at 551 Fifth Avenue in Manhattan.

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