Retail

Asheville, N.C. - Grocer Ingles Markets Inc. reported Tuesday that profit for the fourth quarter rose 63% to $8.5 million, compared with $5.2 million a year ago.

Revenue increased 3% to $856 million. Excluding gas, revenue rose 2%. Same-store sales rose 1.8%.

Ingles operates 203 supermarkets in the Southeast.

Tokyo - A report released Tuesday said that Japanese prosecutors will launch an investigation into possible insider trading involving shares of Wal-Mart's Japanese subsidiary Seiyu.

According to Reuters, which cited the Nikkei business daily website, the trading is suspected to have occurred when Wal-Mart turned Seiyu into a fully owned unit in 2007.

In early November, Japan's Securities and Exchange Surveillance Commission began an investigation into possible insider trading. Wal-Mart has said it would cooperate with authorities.

New York - Optimism about the U.S. economy grew in November, pushing the latest reading on consumer sentiment to the highest level since June. The Consumer Confidence Index rose to 54.1 in November, up from a negatively revised 49.9 in October, the Conference Board, a New York-based research group that compiles the index, said Tuesday. Economists were expecting the index to increase to 52.

Philadelphia - Monetate, which tests, targets, and personalizes websites, has renewed its contract with Canton, Mass.-based Casual Male Retail Group.
"Monetate continues to drive incremental revenue for us because of the exceptional testing and targeting features that it provides,” said Ric Della Bernarda, chief marketing officer and senior VP, Casual Male Retail Group. “With Monetate on our websites, we have the ability to deliver relevant and personalized content to all of our visitors, throughout their online shopping experience."

New York - BCBGMAXAZRIAGROUP, the $1 billion global fashion brand, has launched a new, fast-fashion store concept, Lola, targeted at young women (ages 16 to 26).  The 3,000-sq.-ft. store, has a cool, hip vibe and is designed as an urban studio apartment, complete with fireplace, daybed, spiral staircase,  and closet. Salvaged doors give the storefront a Lower East Side feel.