Budgets/Spending/Market Size

At Michaels, a higher gross profit, partially driven by improved merchandise margin, helped to increase its net income for the third quarter ended Nov. 2.

The company’s net income during the quarter soared 66%, rising to $58 million from $35 million in the prior-year quarter. Net sales grew 10%, to $1.1 billion from $1.01 billion. Meanwhile, same-store sales increased 7.9%, driven by a 3.9% increase in transactions and a 3.8% increase in the company's average ticket in addition to a 20 basis point positive impact from deferred custom framing revenue.

Washington, D.C. -- Import volume at the nation’s major retail container ports is expected to grow 1.8% in December, compared to the same month last year, and the year should end with an increase of 2.3% from 2012. According to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates, U.S. ports followed by Global Port Tracker handled 1.43 million Twenty-Foot Equivalent Units (TEU) in October, the latest month for which after-the-fact numbers are available.

Import volume at the nation’s major retail container ports is expected to grow 1.8% in December, compared to the same month last year, and the year should end with an increase of 2.3% from 2012.

According to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates, U.S. ports followed by Global Port Tracker handled 1.43 million 20-ft. Equivalent Units (TEU) in October, the latest month for which after-the-fact numbers are available.

Washington, D.C. – The National Retail Federation estimated that the retail industry added 13,500 jobs in November, and 268,500 year-over-year.

The Bureau of Labor Statistics Employment Situation report showed that November total nonfarm payroll employment rose by 203,000, with the unemployment rate at 7%.

Issaquah, Wash. -- Costco Wholesale Corp's November same-store sales missed analysts' expectations, hurt by lower gasoline prices and weak foreign currencies.

Same-store sales were up 2% in the four weeks ended Dec. 1, including the impact of fuel sales and foreign exchange, short of the 3% gain analysts expected.

November net sales rose 5% to $8.78 billion.

Excluding the negative impact of foreign exchange and falling gasoline prices, same-store sales rose 4%.

New York -- New York & Co. reported a loss of $3.4 million for the quarter ended Nov. 2, compared with a loss of $3.8 million in the same period last year.

Sales fell to $217.6 million, from $219.3 million, and same-store sales increased 3%.

Target spent an estimated $28 million on advertising November 3-7, which netted it nearly 12% of retail traffic during Thanksgiving weekend, according to data released this week from Kantar Media Ad Intelligence and Placed.

Deerfield, Ill. -- Walgreen Co. said Wednesday that sales for the first quarter rose 6% to $18.35 billion, from $17.32 billion in the same quarter a year earlier.  

Same-store sales increased 5.5% for the quarter. November sales totaled $6.07 billion, up 4.1% from $5.83 billion a year earlier.

The retailer attributed sales spikes to increased investment in promotional strategies.