Retail

Despite its continuing turnaround efforts, Sears Holdings widened its loss in the third quarter after sales fell at both Sears and Kmart.

The company reported a net loss for the quarter ended Nov. 2 of $534 million, or $5.03 a share, from $498 million, or $4.70 a share, a year earlier.

The electronic currency known as bitcoin allows small- and medium-size companies to reach more customers by opening new markets that were previously unreachable, the co-founder of a company that allows businesses to use bitcoins said in testimony this week before two Senate subcommittees. And it appears that federal authorities are open to its development.

PetSmart has unanimously elected Elizabeth Nickels to fill a newly created vacancy on its board of directors. Nickels will join the 2013 class of directors, and will be eligible for re-election by the company’s stockholders at the 2014 annual meeting of stockholders.

Strong retail sales in the month of October point to a good holiday sales season ahead. According to the National Retail Federation, October retail sales, excluding automobiles, gas stations and restaurants, increased 2.5% seasonally adjusted over September, and 4.2% unadjusted from 2012.

In a broader view, October retail sales released Wednesday by the U.S. Census Bureau, which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants, increased 0.4% seasonally adjusted month-to-month, and 3.9% adjusted year-over-year.

Macy’s flagships in Herald Square, New York, and Union Square, San Francisco, are the first major retail locations to deploy Shopkick’s Apple iBeacon-based presence signal. The trial is in closed beta and is anticipated to go live to Shopkick users within weeks.

Despite posting a larger-than-expected loss for its third quarter, J.C. Penney pointed to hopeful signs that its business is starting to stabilize as its heads into the holiday season.

Penney reported a loss of $489 million in the three months ended Nov.2, compared with a loss of $123 million in the year-ago period.

Sales fell 5.1% to $2.78 billion. Same-store sales were down 4.8%, but the period ended with its first monthly gain since December 2011. And online sales rose 24.5%, to $266 million.

Home improvement retailers are reaping the rewards of a healthier housing market and so is Williams-Sonoma. The company reported strong third quarter results and raised its fourth quarter outlook as a result.

Comparable brand revenue growth in the quarter increased 8.2% on top of 8.5% in the year-ago quarter. The company saw revenue growth across all its brands, but results were primarily driven by West Elm, which saw revenue jump 22.2% compared to 13% last year, and PBteen, which saw revenue jump 16.7%, compared to 2% last year.

Snap36, a leading provider of complete 360-degree spin photography services, has added retail industry veteran Steve Embree to its executive leadership team. Embree will act as director of business development.

The company plans to leverage his experience to accelerated Snap36 adoption throughout the online retail and distribution industries. Embree will be responsible for driving business development and go-to-market strategies for Snap36 across both B2C and B2B markets.