Events

Jacksonville, Fla. -- Stein Mart reported Thursday that net income for the quarter ended Oct. 30 was $4.3 million, compared with net income of $3.2 million a year earlier.

Net sales were $267.9 million, a decrease of 0.9% from $270.2 million in 2009. Same-store sales increased 0.3% for the quarter.

ROGERS, Ark. -- Former Walmart executive Jack Shewmaker passed away Wednesday evening. He was 72.

Shewmaker began his career at Walmart in 1970 and rose steadily through the ranks of the company, serving in numerous capacities, including district manager; VP security (now known as loss prevention); VP store operations; EVP store operations, personnel and merchandise; CFO; and president and COO. Shewmaker retired from the company in1988, but continued as a member of Walmart’s board of directors.

Washington, D.C. -- A survey released Thursday by the National Retail Federation and conducted by BIGresearch found that up to 138 million people plan to shop Black Friday weekend (Friday, Saturday and Sunday), surpassing the 134 million who planned to do so last year.

According to the NRF 2010 Holiday Consumer Intentions and Actions Survey, which polled 8,778 consumers, approximately 60 million people say they will definitely hit the stores while another 78 million are waiting to see if the bargains are worth braving the cold and the crowds.

San Francisco -- Continuing its global expansion, Gap announced a franchise agreement to introduce its namesake Gap brand in South America. The first Gap store is expected to open in Santiago, Chile, in the Parque Arauco mall, in September 2011.

Gap has signed a franchise agreement with Komax, for exclusive rights to operate Gap brand stores in Chile. Komax will purchase merchandise from Gap and must adhere to the company’s quality standards.

Carrollwood, Fla. -- RMC Property Management Group announced that Main Street Cinemas has executed a lease to open a family-oriented theater at Main Street Shopping Center, in Carrollwood, Fla.

The new tenant, which is slated to open May 2011, will occupy 20,500 sq ft., feature luxury seating and offer eight screens. It will join Mimi’s, Michael’s Grill, Jenn’s Wine Shop and others at the shopping center.