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Retailers report strong November sales
New York City -- Most retailers are reporting strong sales gains in November, with their performance boosted by heavy traffic over a promotion-fueled Black Friday weekend. Among the retailers that reported results beating Wall Street expectations were Macy’s, Costco Wholesale, Limited Brands and The Buckle.
Target was a notable exception in November, reporting a same-store sales gain of 1.8%, missing Wall Street’s expected 2.8% gain.
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Charming Shoppes to sell off Fashion Bug, add 125 Lane Bryant stores
Bensalem, Pa. -- Charming Shoppes reported Thursday that its loss in the 3Q narrowed to $13 million from a loss of $18.8 million a year earlier. Revenue in the quarter dropped to $429.7 million, from $463.6 million last year, and same-store sales decreased 4%.
The retailer said it is conducting a strategic review of its operations, which includes the divestiture of its Fashion Bug business and the expansion of its Lane Bryant brand.