Strategy

Hoffman Estates,Ill. -- Sears Holdings Corp.'s third-quarter loss widened amid declining sales and higher tax expenses.

For the quarter ended Oct. 27, Sears reported a loss of $498 million, compared with a year-earlier loss of $421 million.

Revenue slipped 5.8%, to $8.86 billion, primarily due to the effect of having fewer Kmart and Sears stores in operation and lower domestic comparable store sales for the quarter.

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.

Columbus, Ohio -- Limited Brands Inc. reported Thursday that net income for the quarter ended Oct. 27 dropped to $73.4 million from $94.3 million in the same quarter last year. Results still managed to beat Wall Street expectations.

Limited, which also owns Victoria’s Secret and Bath & Body Works, saw sales slip 5.7% to $2.05 billion from $2.17 billion, but results matched analysts’ forecasts. Same-store sales climbed 5%.

Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that net income rose 10.8% to $159.5 million in the third quarter, compared with $144 million a year earlier.

Revenue rose 10.6% to $2.26 billion, missing Wall Street’s expected $2.34 billion in revenue. Same-store sales climbed 5%.

The retailer has reaffirmed its guidance for the fourth quarter.

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%.

Kearney, Neb. -- The Buckle reported Thursday that net income for the quarter ended Oct. 27 rose 9% to $41.9 million, boosted by online strength and higher same-store sales.

Overall revenue rose 4% to $284.1 million, beating Wall Street’s predicted $282.8 million. Same-store sales climbed 2.4%.

Bentonville, Ark. -- Wal-Mart Stores Inc. reported Thursday net income of $3.64 billion for the quarter ended Oct. 31, up from $3.34 billion in the year-ago period.

Sales rose 3.4% to $113.20 billion, as U.S. sales beat internal expectations but overall missed Wall Street’s expected $114.96 in revenue.

Wal-Mart U.S. saw same-store sales rise 1.5%, marking the fifth consecutive quarter of same-store sales growth after nine straight quarterly declines. At Sam’s Club, same-store sales rose 2.7%, excluding fuel.

Minneapolis -- Target Corp. reported Thursday net income of $637 million for the third quarter, compared with $555 million in the prior-year period and beating Wall Street expectations.
 
The retailer previously reported that sales rose 3.4% to $16.60 billion in the quarter, and same-store sales climbed 2.9%.

Target is forecasting a fourth-quarter earnings range that at the high-end tops estimates.

Seattle -- Starbucks Coffee Co. announced Wednesday it will acquire specialty tea chain Teavana Holdings for $620 million in a move to gain traction in the $40 billion global tea industry.

According to Starbucks chairman, president and CEO Howard Schultz, the coffee company plans to grow and expand Teavana’s 300 mall-based stores as well as add a neighborhood store concept to accelerate Teavana’s domestic and global footprint.

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.