Seasonal

WAYNE, N.J. - Toys"R"Us announced that, for the first time ever, its stores nationwide will remain open for 88 consecutive hours beginning at 6 a.m. on Dec. 21 and continuing through 10 p.m. on Christmas Eve.

FORT WORTH, Texas - Pier 1 Imports reported a third-quarter comparable-store sales increase of 10.2% versus last year’s increase of 13.7% and net income of $21 million, or 18 cents per share, compared with last year’s third quarter net income of $38.8 million, or 37 cents per share.

Alex Smith, president and CEO, commented, “With sales and margins exceeding our expectations and the overall leveraging of expenses, we are reporting net income for our fifth consecutive quarter.”

According to The NPD Group, 49% of respondents surveyed on holiday entertaining plans said they plan to entertain family or friends in their home during the upcoming holiday season. Furthermore, casual dinnerware sales growth in the double digits in the past 12 months ending September 2010 show that the trend is toward less formal dining. Sales in the formal fine dinnerware segment remain down year-over-year.

Thirty-two percent of respondents told NPD that they entertained at their home less over the past year than in previous years, however, 11% said they entertained more.

Addison, Texas -- Coyote Management, LP and Garrison Investment Group, through their affiliates, announced they acquired Decatur Mall, in Decatur, Ala., and Lakeshore Mall, in Gainesville, Ga., in September and have made enhancements and changes to the properties.

A new corporate ad campaign for both malls was launched Nov. 1, and each mall has added a Customer Service Center, a new MasterCard gift-card program, children’s stroller program, new website and social media.

Cincinnati -- A survey released Monday by Convergys said that many consumers have yet to complete their holiday shopping -- and many of those will do that shopping online.

According to Convergys’ 2010 Holiday Shopping Season Research, which polled 500+ consumers on their holiday shopping plans; 18% of consumers have already completed their holiday shopping; but 27% have not yet started; and 50% are only half done.

Washington – After a solid start to the holiday season, the National Retail Federation announced that it is revising its holiday forecast to 3.3%, up from 2.3%. The upward revision is due to improvement in a variety of economic indicators including stock market gains, recent income growth, savings built up during the recession - all giving consumers the capacity to spend.  

The willingness of discount-store shoppers to pay a premium for products with a celebrity connection will be put to the test next week when the new line of William Rast apparel hits Target stores. The line includes premium denim, leather and outerwear items with prices beginning at $16.99 and extending all the way to the department store territory of $199.99. The limited duration merchandising initiative is due to hit stores on Dec.19 and runs through Jan. 22.

Minneapolis -- Best Buy Co. reported an unexpected decline in fiscal third-quarter profit Tuesday, as lower demand for televisions and videogames led to a sales shortfall in the United States. The chain cut its full-year forecast.

Best Buy Co. said that its third-quarter net income fell 4% to $217 million, while revenue fell 1% to $11.89 billion. Same-store sales fell 3.3%. Results missed Wall Street projections.

Best Buy said it has cut its full-year outlook, as it faces stepped-up competition from online and discount stores.