Seasonal

MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

Carle Place, N.Y. -- 1-800-Flowers.com announced Tuesday the signing of a 45-store franchise development agreement for its Fannie May Fine Chocolates division with GB Chocolates. The agreement calls for 45 new Fannie May franchise stores beginning in December 2011, with all open and operating by year-end 2014.

The first three stores under the agreement are slated to open in Minnesota in time for the Christmas holiday. The agreement provides exclusive development rights for several Midwestern states as well as specific cities in Florida and Ohio.

New York City -- A survey released Tuesday by Deloitte, which polled 1,000 consumers, found that the majority – 51% – will shop in stores or online over the Thanksgiving weekend. Among them, 66% plan to shop in stores on Black Friday and 17% plan to shop in stores on Thanksgiving Day.

The survey also found that shoppers expect to spend an average of $224 over the holiday weekend.

The holiday season is about to get underway with what is expected to be the single greatest spending orgy in the history of commerce with more than $20 billion spent on Black Friday compared with $19.3 billion last year, according to MasterCard Advisors SpendingPulse.

North Plainfield, N.J. -- Shopping center owner and manager Levin Management Corp., in its annual pre-holiday survey, found that more than a third of its retail tenants predict 2011 sales will be higher than 2010’s, while just 18.9% project a drop in sales for the 2011 holiday season.

The remaining 44.2% expect this year’s holiday sales to mirror last year’s.

New York City -- The third annual Retail Finance Outlook released Tuesday by CIT Group found that 80% of retail executives expect their holiday sales to increase or remain the same as last year. And they are eying social media as a means to drive sales.

Among the notable shopping days this holiday season, more than one-third of executives expect Black Friday sales to increase this year; more than a quarter expect Cyber Monday sales to be up and nearly a quarter expect Super Saturday sales to increase.

Columbus, Ohio -- DSW Inc. reported Tuesday that net income increased to $53.7 million in the third quarter, up from $35.5 million a year earlier.

Sales rose 8.5% to $530.7 million, from $489.3 million. Same-store sales increased 5.2%.

The shoe retailer cited strong boot sales for the performance surge. “We are confident in our strategies and continue to expect fiscal 2011 to represent a strong year of growth, and as a result we have increased our annual guidance," said Mike MacDonald president and CEO.
 

Consistent with promotional strategies from previous years, Target is offering some insane prices on popular electronics items. Unfortunately, if holiday shoppers follow the advice of Consumer Reports this year they won’t be coming to Target.