Strategy

FORT WORTH, Texas - Pier 1 Imports reported a third-quarter comparable-store sales increase of 10.2% versus last year’s increase of 13.7% and net income of $21 million, or 18 cents per share, compared with last year’s third quarter net income of $38.8 million, or 37 cents per share.

Alex Smith, president and CEO, commented, “With sales and margins exceeding our expectations and the overall leveraging of expenses, we are reporting net income for our fifth consecutive quarter.”

Teradata, the data warehousing and enterprise analytics leader, has a new deal with Walmart to help the retailer store, manipulate and analyze the expanding volume of information that results from selling more than $400 billion worth of goods annually.

Walmart turned to Facebook to spread awareness of hunger with an innovative initiative to determine how $1.5 million in grant money will be divvied up among 100 U.S. cities, but the social media effort is ending soon and Walmart is encouraging last minute “likes” as the New Years Day deadline approaches.

NEW YORK - Everlast Worldwide announced the signing of a long-term, direct-to-retail licensing deal with Sears Holdings. Through the agreement, Sears Holdings will have the U.S. license for the Everlast brand in their 850 Sears doors and the Everlast Sport brand in 1,325 Kmart doors as well as launching on sears.com and kmart.com. The long-term agreement gives Sears and Kmart the rights to the Everlast brand for apparel, footwear and accessories for men, women and kids. Sears and Kmart plan to launch the brand nationwide beginning in the spring of 2011.

BOCA RATON, Fla. - Office Depot announced that it has entered into an agreement to sell its Office Depot Japan business to Kakuyasu. The transaction also includes an agreement for Kakuyasu to license Office Depot’s trade names, obtain sourcing services and continue to support Office Depot’s global customers in Japan. Kakuyasu is one of the fastest growing and leading multi-channel businesses in Japan with FY 2009 sales of $775 million.

Office Depot Japan was established in 1996 and is a wholly owned subsidiary of Office Depot Inc. 

NEW YORK - The Deloitte Spending Index, comprising four components -- tax burden, initial unemployment claims, real wages and real home prices -- fell to 4.29%, from an upwardly revised gain of 4.71% a month ago. According to Deloitte the decline was primarily due to sustained weakness in the housing market despite incremental gains in other areas.  

MENOMONEE FALLS, Wis. - Kohl's and Lagardère Active have announced plans to expand the Elle-branded contemporary lifestyle collection into fashion jewelry and beauty. The Elle Bijoux jewelry collection and Elle-branded line of cosmetics will be available exclusively in Kohl’s stores nationwide and Kohls.com beginning spring 2012.

WASHINGTON - Gap Inc. announced that President Obama intends to appoint Bobbi Silten, chief foundation officer at Gap Inc., to serve on the White House Council for Community Solutions. The Council will provide advice to the President on the best ways to mobilize citizens, nonprofits, businesses and government to work more effectively together to solve specific community needs.