Strategy

Columbus, Ohio -- Big Lots on Friday posted a lower-than expected quarterly profit, and the company cut its outlook for the crucial holiday quarter, in the face of strong competition and aggressive promotions from rivals.

The chain said profit for the quarter ended Oct. 30 fell 42% to $17.7 million, from $30.3 million a year earlier, when the company's earnings included a 10-cents-a-share benefit from real estate transactions. Net sales in the latest quarter rose 2% to $1.06 billion as same-store sales rose 0.7%.

Arlington, Va. -- After same-store sales reports on Thursday showed strengthened performance among most major retail chains, the Retail Industry Leaders Association said that November results may suggest that consumer activity is on the rise, and could indicate the strongest holiday shopping season retailers have experienced in recent years.

Washington, D.C. -- Fewer Americans filed claims for unemployment insurance payments over the past month, indicating some positive movement in the job market.

According to the latest labor department figures, the number of applications for jobless benefits averaged 431,000 a week over the month ended Nov. 27, the lowest level since August 2008. Claims increased by 26,000 last week, more than forecast, to 436,000, after reaching a two-year low.

Houston -- Centro Properties Group said Tuesday that Fashion Metro has opened a 9,810-sq.-ft. store at Northtown Plaza, in Houston.

Centro Properties Group, based in New York City, owns Northtown Plaza.

By Dave Mesko, [email protected]
It’s a shopper’s market. Today, consumers have an array of options when it comes to shopping and no longer have to remain loyal to one store. In order to grow and sustain loyal customers, it’s important that retailers provide a safe environment for shoppers.