Strategy

Vancouver, British Columbia -- Yoga apparel retailer and manufacturer Lululemon athletica reported Thursday that net income for the quarter ended Oct. 31 rose to $25.7 million, compared with $14.1 million in the year-ago period.

Net revenue surged 56% to $175.8 million, from $112.9 million. Same-store sales increased 29%.

The company operates 134 stores in North America and Australia.

Austin, Texas -- Dallas-based home furnishings and accessories retailer Parmida Home said Thursday it has opened a new 10,500-sq.-ft. store in the Hill Country Galleria, located in Bee Caves, Texas, near Austin.

This is the retailer’s second Texas location and part of Parmida Home’s plan to expand into similar lifestyle centers nationally. 

Parmida Home is represented by United Commercial Realty.

Victoria, Texas -- Lack Properties and Lack’s Stores said Thursday it has hired Melville, N.Y.-based DJM Realty, a Gordon Bros. Group company, to manage the disposition of all leased and owned retailer and warehouse facilities throughout Texas.

Lack’s is an independently owned retail home furnishings chain operating as Lack’s and Lacks Home Furnishings.

MINNEAPOLIS - Target announced its commitment to sustainability and outlined goals it hopes to achieve over the next five years. Target's commitments to environmental sustainability, along with more on Target's sustainability efforts, are available at hereforgood.target.com/environment, the company reported.

Ann Arbor, Mich. -- Borders Group posted sales of  $470.9 million for its third quarter ended Oct. 30, a decrease of 17.6% from the same period a year ago. Same-store sales declined by 12.6%.

The company posted a loss from continuing operations in the third quarter of $74.4 million, versus a loss $37.7 million a year ago.

New York City -- Supervalu has reached an agreement to sell its Total Logistic Control subsidiary to Ryder System for an undisclosed amount.

The subsidiary provides logistics and supply chain management solutions to manage distribution, warehouse and transportation operations for food, drink and packaged-goods companies.

Atlanta -- EarthLink announced that it has completed its acquisition of ITC DeltaCom, a leading provider of integrated communications services to customers in the southeastern United States, in a transaction valued at approximately $524 million.

With the close of the transaction EarthLink will begin integrating its New Edge Networks and EarthLink Business Services operations with Deltacom and will market the combined services under the ‘EarthLink Business' brand name.

Beaumont, Texas -- Regional appliance and electronics chain Conn's said Thursday that chairman William C. Nylin Jr. is stepping down and will be succeeded as non-executive chairman by director Theodore Wright.

Nylin has served as chairman since June 2009 and was executive vice chairman before that. He has been on the board since 1993 and has also served as the company's COO and president. He will remain on the board.

Minneapolis -- Supervalu says Sherry Smith has been named the grocery operator's new CFO.

Smith, 49, has been working as the company's interim CFO and will assume her new role immediately. She joined Supervalu in 1987 and has held a variety of positions at the company, including serving as its senior VP finance for eight years.