Winter Holidays

Stockholm, Sweden -- Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period. The Swedish fashion retailer cited rising procurement costs, marketing investments and a bump-up in new-store expansion for the decrease in profit.

H&M said it will add 265 new stores, up from the 250 previously planned, and will make market debuts in Indonesia and Thailand.

New York City -- A report released Thursday by Bloomberg said that consumer confidence in the United States slumped last week to the second-lowest level on record.

The Bloomberg Consumer Comfort Index dropped to minus 53 in the period ended Sept. 25 from minus 52.1 the prior week. Similar readings were reached three times in the first half of 2009 and surpassed only by all-time lows of minus 54 plumbed in November 2008 and again in January 2009.

MINNEAPOLIS — While other retailers are beefing up their sales staff ahead of the holiday season, Best Buy Co. said Tuesday that it has cut its 2011 seasonal hiring plans to about half of last year’s staff numbers, in a move to curtail costs. This year’s plans call for 15,000 holiday workers, compared with 29,000 hired last year.

WAYNE, N.J. — Ahead of the holiday season, Toys"R"Us has announced the redesign of Imaginarium, further emphasizing its focus on exclusives this year. The company has revamped Imaginarium, the company's exclusive, specialty learning brand. The brand has been given an updated logo and 50 new products designed to promote childhood development by stimulating visual, auditory and manual senses. Toys"R"Us announced that it is inviting customers to experience the Imaginarium redesign at special in-store shops beginning Oct.

Minneapolis -- Best Buy Co. said Tuesday that it has cut its 2011 seasonal hiring plans to about half of last year’s staff numbers, in a move to curtail costs. This year’s plans call for 15,000 holiday workers, compared with 29,000 hired last year.

New York City -- Retailers should expect small gains in 2011 holiday sales, Deloitte forecast on Monday. The company’s retail & distribution practice expects total holiday sales to reach between $873 and $877 billion, representing a 2.5 to 3% increase over last season.