Apparel

San Francisco -- Gap Inc. reported a 9.4% increase in third-quarter profit as the retailer's turnaround continues. The company also reaffirmed its full-year profit guidance and said it is increasing its stock buyback authorization by $1 billion.

The chain posted net income of $337 million in the three-month period ended Nov. 2, compared with $308 million last year.

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.

New Albany, Ohio -- Abercrombie & Fitch Co. swung to a loss in its third quarter, dragged down in part by charges related to the shuttering of its 28 freestanding Gilly Hicks stores. But its adjusted profit topped analysts' estimates, even as its sales softened.

Jacksonville, Fla. -- Stein Mart reported a return to profit in the third quarter, recording net income of $28,000 for the period ended Nov. 2, compared with a loss of $1.7 million last year. Results matched Wall Street expectations.

Revenue climbed 6% to $290.5 million from $273.7 million, topping Wall Street's estimate of $287.9 million. Same-store sales rose 4.8%.

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."

New York -- Stage Stores said Thursday that its fiscal third-quarter loss widened as some expenses rose. The company cut its fiscal 2013 adjusted earnings forecast.

The department store retailer lost $11 million for the period ended Nov. 2, compared to a loss of $8.9 million.

Revenue declined 3% to $360.2 million, from $370.6 million. Same-store sales fell 4.6%.

Selling, general and administrative expenses climbed to $98.6 million from $92.5 million during the quarter. Interest expense increased to $718,000 from $568,000.

Phoenix — DSW Designer Shoe Warehouse has taken 20,000 sq. ft. at Tempe Marketplace in Tempe, Ariz., according the CBRE, which represented DSW in the negotiations. Vestar represented Tempe Marketplace.

Developed by Vestar in 2007, Tempe Marketplace is an interactive shopping, dining and entertainment destination featuring 1.3 million sq. ft. of retail space. The tenant list now includes DSW plus Target, Cost Plus World Market, Old Navy, J.C. Penney, Gap and Best Buy. It is also the first Arizona location for Dave & Busters.