Department Store

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the quarter ended Oct. 27 rose to $461.5 million, from $406.5 million last year.

Sales rose 10.7% to $6.41 billion; same-store sales climbed 7%.

The parent to T.J. Maxx and Marshalls said it expects same-store sales during the holiday quarter to be flat to up 2%.

Minneapolis -- In his Tuesday address to investors and stockholders in New York City, newly minted Best Buy Co. CEO Hubert Joly acknowledged that sales and profits are on a decline, and presented a plan to shore up finances and operations by cutting expenses, rethinking footprints and improving both offline and online customer satisfaction. Part of the plan involved tapping former Williams-Sonoma exec Sharon McCollam as its new CFO.

New York -- Survey results released Tuesday by Accenture found that half of U.S. consumers are likely to make a small luxury purchase in the next six months, including 53% who are likely to purchase specialty food or drinks, 48% to purchase luxury clothing and 48% to purchase luxury personal care products.

New York -- Foot Locker announced Tuesday the introduction of SIX:02, an elevated retail concept featuring fitness apparel and athletic footwear for women.

The first three stores will open for the holiday season in Stamford Mall in Stamford, Conn., Willowbrook Mall in Wayne, N.J., and North Star Mall in San Antonio, Texas.

SIX:02's concept is based on being the first-to-market design around a broad assortment of women’s athletic brands in an environment created specifically for that female customer, according to Foot Locker.

Brooklyn, N.Y. -- Home furnishings retailer West Elm today announced that it will open a new store in Indianapolis on Nov. 15. Located in The Fashion Mall at Keystone, the new store will be the first West Elm in Indiana.

Through a partnership with Etsy, the store will feature a locally made collection of decorative accessories from artists in the Indianapolis area.

Solid third quarter results have Dillard’s feeling good about the holidays.

Dillard’s third quarter merchandise sales for the quarter ended October 27 increased 4% to more than $1.4 billion, same store sales increased 5% and operating profits increased 84% to nearly $73 million. Gross margins expanded 40 basis points to 37.1% and same store inventory levels were down 1%.

New York -- Target plans to open at 9 p.m. on Thanksgiving Day to kick of its Black Friday promotional efforts and will follow up with additional deals that become available at 4 a.m.

The company is also rewarding its REDcard holders by allowing them early access to select Black Friday sale items at Target.com.

Brooklyn, N.Y. -- West Elm, a division of Williams-Sonoma, announced that it will open store in Indianapolis on Nov.15.

Located in The Fashion Mall at Keystone, it will be the first West Elm in Indiana. Through a partnership with Etsy, the store will feature a locally made collection of decorative accessories from artists in the Indianapolis area.