Retail

Burlington Stores credited performance at new stores for driving net sales during the third quarter.

The company’s net sales increased 10% to $1.06 billion, from $967.9 million. The increased was fueled primarily by a $53.2 million increase in sales related to new stores and stores previously opened that are not included in same-store sales, as well as a 3.9% increase in same-store sales.

The company also shrank its net loss to $7.4 million from $16.8 million during the quarter, compared to the prior-year quarter.

Charleston, S.C. -- After a successful extended Black Friday and another week in the stores, a healthy proportion of holiday shoppers are well on their way to being finished with their gift buying, according to the America’s Research Group and Inmar Holiday Shopping Survey.

Irving, Texas – Michael’s Stores reported an impressive 66% jump in net income during the third quarter of fiscal 2013, rising to $58 million from $35 million in the same quarter a year earlier. Net sales grew about 10%, to $1.1 billion from $1.01 billion.

Lumber Liquidators has raised its full year 2013 outlook based on year-to-date results and current trends.

The company now expects net sales in the range of $994 million to $1 billion, up from a previous range of $985 million to $995 million, with the fourth quarter ranging from $252 million to $258 million.

Lumber Liquidators also expects to open a total of 29-30 new stores during 2013 and increase net store sales 15% to 16%, up from a previous range of 14% to 15%, with the fourth quarter ranging from 13% to 15%.

Foothill Ranch, Calif. -- The Wet Seal announced a partnership with AwesomenessTV on reality series, "The Intern." AwesomenessTV, one of the most subscribed to video destinations for teens on YouTube, debuted the series on Nov. 25 and will air four weekly installments throughout the month of December.

Boca Raton, Fla. -- Office Depot has selected Boca Raton, Fla., for its global headquarters rather than the Naperville, Ill., corporate home of its merger partner OfficeMax.

Currently president and CEO of Walmart's Europe, Middle East and Africa (EMEA) and Canada region, David Cheesewright has been promoted to president and CEO of Walmart International, the company's second largest operating segment.

Cheesewright will report to Doug McMillon, who was tapped to succeed Mike Duke as the company's president and CEO. Both assume their new roles Feb. 1, 2014. Cheesewright's successor will be named at a later date.

Vancouver, British Columbia -- Lululemon Athletica Inc. on Tuesday named Laurent Potdevin as CEO, and also announced founder Chip Wilson will step down as non-executive chairman. Potdevin, most recently president of Toms Shoes, will replace Lululemon’s current CEO, Christine Day, in January, and will also become a director at that time. Prior to Toms, he served as president and CEO of Burton Snowboards from 2005 – 2010.