Strategy

New York -- With retail books closed prior to Hurricane Sandy’s arrival in the Northeast, most retailers experienced same-store sales gains for the month of October, some with stronger showings than others.

The 17 retail chains tracked by Thomson Reuters are predicted to report 4.3% growth in October same-store sales, up slightly over the 4.1% advance reported in the year-ago period and a significant gain over September’s 0.8% rise.

BURLINGTON, N.J. — Burlington Coat Factory Warehouse reported that net sales for the third quarter ended Oct. 27 were $967.8 million compared with $898.7 million for the comparative period ended Oct. 29, 2011, a 7.7% increase. Comparative-store sales increased 2.1% for the quarter.

Indianapolis -- Lids Sports Group announced Wednesday that its retail division will purchase 12 stores from Fanatics Inc., comprised of nine FansEdge locations in the Greater Chicago area as well as one in Oklahoma and two Football Fanatics in Jacksonville, Fla.



The locations will be rebranded under the Locker Room by LIDS retail banner, to include region-specific storefronts such as Chicago Locker Room and Oklahoma Locker Room.  

By Peter Burgoyne, [email protected]

Target added to its roster of action sports athletes recently with the signing of Canadian freeskier Rosalind Groenewoud.

According to Target, she is affectionately recognized by many simply as Roz G and is known for her amplitude and large variety of tricks. Widely considered to be one of the most influential halfpipe skiers in the world she joins eight other elite action sports athletes representing Target.

St. Petersburg, Fla. -- Multichannel retailer HSN Inc. reported Wednesday that net income for the third quarter dropped 27.2% to $17.7 million, from $24.3 million in the year-ago period. Results still beat Wall Street projections.

Revenue rose 7.1% to $778.8 million, beating analysts’ estimated $747.1 million in revenue.

The company has now seen profit fall in two consecutive quarters, but it has beaten Wall Street estimates for three quarters in a row.

Leading payment processor Vantiv said it signed an agreement to acquire Litle & Co., a leading mobile payment processor in a deal valued at $361 million.

According to Vantiv president and CEO, Charles Drucker, the deal makes sense because e-commerce is one of the fastest growing segments of payments.

Boca Raton, Fla. -- Office Depot Inc. said Tuesday it has approved a poison pill defense to preclude investor Starboard Value LP from waging a takeover of the company.

The activist investor became the office-supply retailer’s largest shareholder last month and has begun pushing for changes.

The poison pill is a shareholder rights plan that would give its investors additional shares if one entity surpasses 15% ownership. Starboard owned 14.8% as of Oct. 12.