Department Store

Cleveland -- Holiday spending expectations are in line with last year when in-store shopping accounted for 70% of spending, according to a new survey by Forest City Enterprises. The average in-store expenditure is expected to increase by 1% to about $774. The average online expenditure is expected to decrease by 0.3% to $330.

Holiday shoppers will be driven more than ever by value this year and that they expect to shift even more of their spending toward children, the study found.  

Higher sales, including mid-single digit comparable -sales growth, helped drive Ann Inc.’s third quarter results.  

The company posted third-quarter earnings of $41.2 million, compared to $40.7 million in the year-earlier quarter. Net sales grew 7% to $657.3 million from $612.5 million. Total same-store sales increased 3.7%. By brand, same-store sales inched up 0.6% at Ann Taylor and 5.6% at Loft. However, sales fell 6.9% in the Ann Taylor Factory channel.

Hampstead, Md. – Jos. A. Bank is attempting to get a jump on the many retailers starting their Black Friday sales on Thanksgiving by offering a “Super Tuesday” sale event on Tuesday, Nov. 26. The retailer will offer Black Friday prices on select “doorbuster” items in its 571 company-owned full-line stores nationwide.

In addition, these select doorbuster items will be offered online at Josbank.com beginning at 12:01 a.m. (EST) on November 26, 2013, and there will be other special one-day price discounts.

Add Target to the list of retailers whose weak third quarter sales performance highlighted troubling spending behaviors that threaten to undermine its holiday sales performance.

The company reported disappointing third quarter sales and profits Thursday morning and then stated the obvious that shoppers will price sensitive during an intensely competitive holiday season. The company said same store sales increased 0.9%, slightly less than the company’s forecast provided on August 21 which called for an increase of 1% to 2%.

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.

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.

Minneapolis -- Target Corp.'s third-quarter net income fell 47%, hurt by costs related to its Canadian expansion. Its adjusted profit beat analysts' estimates, but sales fell short. The retailer lowered its full-year adjusted earnings forecast.

For the three months ended Nov. 2, Target earned $341 million, or 54 cents per share, down from $637 million in the year ago period. Removing Canada-related expansion costs and other items, earnings were 84 cents per share.

New York -- MasterCard Advisor’s latest MasterCard Spending Pulse survey found that there are some product categories that won’t see the biggest spending uptick on Black Friday and Cyber Monday.

The monthly SpendingPulse report anticipates that the biggest shopping day of the season for jewelry and luxury retailers will be Dec. 21 – the last Saturday before Christmas, which is becoming commonly known as “Super Saturday.”