Retail

PetSmart’s third quarter results benefited from consumers who continue spending money on their pets despite a still-challenging consumer environment.

The company’s earnings per share jumped 17.3% to $0.88 from $0.75 in the third quarter of 2012. Net income totaled $92 million for the quarter, compared to $82 million in last year’s third quarter.

Increased customer traffic helped drive Dollar Tree’s third-quarter results. The retailer cited growth in consumer basics as well as seasonal and variety merchandise, and said its higher margin variety categories are growing at a faster pace.

The company reported consolidated net sales for the quarter of $1.9 billion, a 9.5% increase from $1.72 billion for the year-ago quarter. Comparable store sales increased 3.1%.

Last week’s PS4 launch and the highly anticipated Xbox One launch bolstered GameStop’s third-quarter results, but not as much as some investors expected, according to other reports.

The company posted total global sales for the quarter of $2.11 billion, an 18.8% increase from $1.77 billion in the prior-year quarter. Consolidated comparable store sales surged 20.5%, significantly above the forecasted range — but, according to a Reuters report, not enough to keep shares from slipping 6%.

Staples has named Tom Conophy as EVP, chief information officer, overseeing all aspects of Staples’ global IT organization. He will report directly to Ron Sargent, Staples’ chairman and CEO, and will serve on the Staples executive committee.

Walgreens has named Sona Chawla, currently president of e-commerce, as president of digital and chief marketing officer. In this new role, Chawla will lead a newly created digital and marketing division, establishing an integrated digital, enterprise-wide marketing and customer loyalty and insights group to advance Walgreens “Well Experience” strategy.

Amazon.com is going to start offering Black Friday deals a day earlier than last year, beginning Sunday, Nov. 24, as often as every 10 minutes.

“We are heading into the busiest and most fun time of the year for Amazon, with an astonishing number of deals for customers,” said Craig Berman, VP, Amazon Global Communications.

Consumers will be able to pick from an assortment of electronics, toys, books, movies and tools and will be also able to shop via the mobile shopping app.

Lowe's Canada has restructured its senior leadership team ahead of plans to continue growing its footprint in Canada.

Continued sales momentum at Stein Mart helped drive the company’s third quarter results, which saw both net and same-store increases.

The company reported net income for the quarter of $28 thousand compared to a net loss of $1.7 million in 2012.

"Our earnings continue to improve as a result of our continued sales momentum," said CEO Jay Stein. "We have been very focused on refining our brands, pricing and sales execution and the improvements are evident in our results."