Budgets/Spending/Market Size

COLUMBUS, Ohio — Limited Brands reported that adjusted earnings per share for the third quarter ended Oct. 29 increased 39% to 25 cents compared with earnings per share of 18 cents for the quarter ended Oct. 30, 2010, which exclude an income tax benefit in 2011 of $16.7 million, or 6 cents per share. Third quarter operating income was $186.1 million compared with operating income of $149.1 million last year, and adjusted net income was $77.6 million compared to net income of $61.3 million last year.

San Francisco – Williams-Sonoma Inc. reported Thursday that profit for the third quarter rose 19% to $43.4 million, from $36.5 million in the same period last year.

Revenue rose 6% to $867.2 million, compared with $815.5 million last year and solidly beating Wall Street’s expected $855.7 million in revenue.

Same-store sales overall rose 7.3%, comprised of a 7% rise in the company’s Pottery Barn stores, a 5.2% rise at Pottery Barn Kids and a 27% surge at West Elm. Same-store sales at namesake stores were up a slight 0.1%.

Phoenix -- PetSmart Inc. reported Thursday that net income for the quarter ended Oct. 30 rose 22% to $56.2 million, from $45.6 million a year earlier.

Revenue rose nearly 8% to $1.5 billion from $1.4 billion, just beating Wall Street’s expected $1.49 billion in revenue. Same-store sales increased 6.1%. 
 

New York City -- A report released Thursday by the International Council of Shopping Centers and Goldman Sachs said that 34% of consumers plan to shop on Black Friday, up from 31% in 2010 and 26% in 2009.

“In addition to buying gifts, consumers overwhelmingly indicated that they would be looking for bargains on Black Friday for themselves as well,” said Michael P. Niemira, chief economist and director of research for ICSC.

New York City – E-commerce sales in the U.S. for the November and December holiday shopping season will rise 16.8% to $46.7 billion in 2011, up from $39.9 billion last year and representing a pace five times faster than total retail industry growth, according to eMarketer.

That means online sales growth will reach double digits for the third consecutive year, even though the economy remains shaky and consumers are keeping tight budgets.

Columbus, Ohio -- Limited Brands Inc. reported Wednesday that profit for the third quarter rose 22% on higher sales at its Victoria’s Secret and Bath and Body Works chains.

Net income rose to $94.3 million from $61.3 million a year earlier. As reported previously, revenue rose 10% to $2.17 billion.

The company has raised its outlook for the fourth quarter.
 

Pleasanton, Calif. -- Ross Stores Inc. reported Thursday its third straight quarter of profits, as net income rose 18.6% to $144 million, from $121.4 million a year earlier. Results met Wall Street expectations.

“Operating our business on lower in-store inventories is driving faster turns and lower markdowns, which continues to benefit profit margins,” noted Michael Balmuth, CEO.

Revenue rose 9.2% to $2.05 billion, beating analysts’ predicted $2.03 billion in revenue.

Washington, D.C. -- A survey released Thursday by the National Retail Federation said that the number of people “definitely” shopping stores and websites on Black Friday as jumped to 33%, from 27% in 2010.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its loss widened in the third quarter on softness in its Canada division and on weaker consumer electronics sales.

The operator of Sears and Kmart recorded a loss of $421 million in the quarter ended Oct. 29, compared with a loss of $218 million a year earlier.

Revenue slipped 1% to $9.57 billion from $9.68 billion, missing the $9.63 billion expected by Wall Street, and marking the fourth straight quarter of revenue declines.

SALISBURY, N.C. — Discount grocer Bottom Dollar Food is hiring more than 800 associates over the next several months to begin to prepare for store openings next year, the company announced Wednesday.

"We look forward to expanding in Pittsburgh and Youngstown, Ohio, next year, and bringing new jobs to these areas," stated Bottom Dollar Food president Meg Ham. Bottom Dollar Food is expected to open 14 stores in early 2012.