Seasonal

New York City -- The International Council of Shopping Centers said it expects holiday sales to increase 3% this year, which is below the 4.1% gain in 2010.

Holiday sales are expected to reach $250.2 billion, the highest since the 2007 peak, when spending totaled $251.7 billion, according to the group, whose forecast is among the first to come out for the holiday 2011 shopping season.

The ICSC predicted that holiday same-store sales will rise 3.5%, slightly lower than the 3.8% pace in 2010.

NEW YORK — Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations -- 97 Greene Street and 106 Wooster Street. 

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

HOFFMAN ESTATES, Ill. — Kmart announced that it is launching the Latina Smart Fund in celebration of National Hispanic Heritage Month. Promoted through Kmart's Latina Smart Facebook page, the Latina Smart Fund will award $25,000 in scholarships to graduating high school seniors and/or students currently enrolled in college, technical or trade schools.   

NEW YORK — Walmart is bringing back its layaway program this holiday season, responding to pressures on low income consumers, MarketWatch reported.

Walmart, which canceled the program in 2006, except for fine jewelery, based on costs and limited use, is bringing back the program at its Walmart U.S. stores for Oct. 17 to Dec. 16 for electronics and toys, according to the report.

New York City -- Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations -- 97 Greene Street and 106 Wooster Street. 

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that second-quarter profit rose to $16.6 million, from $14.4 million a year earlier, matching Wall Street expectations.

Sales for the quarter increased 9.6% to $339.6 million, compared with $309.9 million in the year-ago quarter. Same-store sales increased 10.8%, boosted by higher traffic and average-ticket numbers.

FORT WORTH, Texas — Pier 1 reported sales and earnings growth for its second quarter, leaving president and CEO, Alex Smith confident about the future of the company heading into the holiday season. 

New York City -- Toys “R” Us is cutting back on the number of temporary holiday stores it opens this year compared with last, but it is significantly expanding the number of exclusive products it offers, chairman and CEO Jerry Storch said at a press conference Wednesday. The retail chief’s bet on the hottest toy of the season: Animal Planet’s Air Swimmers line (helium-filled, radio-controlled flying fish), which will be available only at Toys “R” stores and via its website.