Strategy

Chesapeake, Va. -- Dollar Tree Inc. reported that its net income in the third quarter fell 19%, impacted by a one -time gain a year related to selling its stake in the Ollie's Holdings chain. The company forecast results for the fourth quarter below Street expectations.

The company posted earnings of $125.4 million for the period ended Nov. 2, down from $155.4 million a year ago.

Revenue rose 9.5% to $1.88 billion. Analysts expected revenue of $1.91 billion.

Same-store sales were up 3%.

Add Target to the list of retailers whose weak third quarter sales performance highlighted troubling spending behaviors that threaten to undermine its holiday sales performance.

The company reported disappointing third quarter sales and profits Thursday morning and then stated the obvious that shoppers will price sensitive during an intensely competitive holiday season. The company said same store sales increased 0.9%, slightly less than the company’s forecast provided on August 21 which called for an increase of 1% to 2%.

Redmond, Wash. -- Canadian pharmacy retailer The Jean Coutu Group Inc. has selected Microsoft Dynamics for Retail to manage all its retail operations, from its headquarters down to the point-of-sale devices in stores. Jean Coutu will deploy Microsoft Dynamics to more than 400 stores, 3,000 POS systems and 11,500 devices with implementation to start in 2014.

Bon-Ton is looking ahead to the holiday selling season, and focusing its marketing efforts on driving shoppers not only to stores but also to its e-commerce site.

The company saw comparable store sales for the third quarter decrease 2.8%. But the company was able to narrow its loss to $0.9 million, or $0.05 per diluted share, from $10.1 million, or $0.55 per diluted share, for the third quarter of fiscal 2012.
 

Evanston, Ill. -- Walgreens on Thursday opened what is believed to be the nation’s first net zero energy retail store (a net zero building produces energy equal to or greater than it consumes). Located in Evanston, Ill., the store features two wind turbines, nearly 850 solar panels and a geothermal system burrowed 550 ft. into the ground. Engineering estimates indicate that the new Walgreens will use 200,000 kilowatt hours per year of electricity while generating 220,000 kilowatt hours per year.

Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics as well as seasonal and variety merchandise, and said its higher margin variety categories are growing at a faster pace.

The company reported consolidated net sales for the quarter of $1.9 billion, a 9.5% increase from $1.72 billion for the year-ago quarter. Comparable store sales increased 3.1%.

New York — The United States Postal Service has signed an agreement to occupy 8,440 sq. ft. of retail space at 333 East 14th Street in Manhattan, according to the Feil Organization.

The Peter Stuyvesant branch of the U.S.P.S. inked the 10-year sublease for the space, which includes 6,940 sq. ft. on the ground floor and 1,500 sq. ft. of basement. It is a relocation of the Postal Service’s existing 432 East 14th Street branch.

Jacksonville, Fla. -- Stein Mart reported a return to profit in the third quarter, recording net income of $28,000 for the period ended Nov. 2, compared with a loss of $1.7 million last year. Results matched Wall Street expectations.

Revenue climbed 6% to $290.5 million from $273.7 million, topping Wall Street's estimate of $287.9 million. Same-store sales rose 4.8%.