FINANCE

First the good news: Retail sales rose 0.6% in September, after falling a revised 0.2% in August, according to figures by the Commerce Department.     The increase, the most in three months, was helped by a rebound of automobile and restaurant sales.    On the less positive front, excluding autos and gasoline, sales were up only 0.1%, less than economics predicted.    

The nation’s largest specialty toy retailer finds itself in a sweet spot as its most critical selling season approaches.   After years of just cutting costs, Toys “R” Us is starting to put money back into operations, as it looks to grow sales and traffic, Bloomberg reported. And for the first time in a while, the company is building inventory.  

Hhgregg is ensuring its shoppers retain their buying power.   By entered into a multi-year renewal of its consumer financing program, Hhgregg is extending its 17-year partnership with Synchrony Financial. The electronics chain’s private label credit card program provides qualifying cardholders with special financing offers, exclusive in-store and online deals, and online bill pay. The card is accepted across the chain’s 220 stores, and online.   

L Brands, operator of Victoria's Secret and Bath & Body Works, posted a better-than-expected 3% increase in same-store sales for September.      The retailer’s results were fueled by a 9% increase in comp sales at its Bath & Body Works brand. L Brands’ net sales rose 6% to $919.9 million in September.   The handful of other retailers who still report same-store sales did not fare so well.  

The fire is out, but its effects will linger.   Gap Inc. on Thursday reported a 3% decline in same-store sales for September, and said it expects the fire that occurred at the end of August at its distribution center in Fishkill, New York, will negatively impact its October comp-sales by approximately 3 percentage points and also have a negative impact on its comp-sales results in its fourth quarter.   

Signet Jewelers Limited has closed its previously announced investment from Leonard Green & Partners.   The private equity firm invested $625 million in the form of convertible preferred shares. The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016, in connection with the transaction.  

Wal-Mart Stores and Target Corp. stand at very different junctures, according to new report from Moody's Investors Service.    Walmart is starting to reap more discernible rewards as it adapts more quickly to a rapidly-changing consumer landscape -- and with fewer missteps -- than Target has managed, according to the report, "Wal-Mart Stores, Inc. and Target Corporation: Walmart Is Gaining Momentum, While Target Is Still Clawing Back Lost Ground."  

Expect more FAO Schwarz-branded toys, in-store “experiences” and even possible freestanding stores in the very near future.    In an unexpected announcement, ThreeSixty Group said it has acquired FAO Schwarz from Toys “R” Us. The terms of the transaction were not disclosed.  Toys “R” Us purchased FAO Schwarz in 2009.