Department Store

Gap ups outlook on strong Q3
San Francisco -- Gap Inc. raised its outlook for the year after reporting better-than-expected net income for the third quarter on growing sales. It was the latest sign that the long beleaguered chain may be finally entering a turnaround.

For the three months ended Oct. 27, the company said it earned $308 million, compared with $193 million in the year
Gift card spending to reach record $28.79 billion
Washington, D.C. -- The National Retail Federation’s 2012 holiday consumer spending survey conducted by BIGinsight showed that 81.1% of shoppers will purchase at least one gift card and will spend an average of $156.86 on gift cards, the highest amount in the survey’s 10-year history. Total spending on gift cards will reach $28.79 billion.

According to NRF’s first holiday survey, released in October, six in 10 (59.8%) of those polled said they’d like to receive gift cards this year, up from 57.7% last year.

Abercrombie and Fitch profit surges in Q3, raises outlook

Columbus, Ohio -- Abercrombie and Fitch reported Wednesday net income of $71.5 million for the third quarter, compared with $50.9 million in the year-ago period and beating Wall Street expectations. The retailer is forecasting annual earnings above analysts’ estimates.

Revenue rose 9% to $1.17 billion, boosted by a 37% rise in international sales. Same-store sales dipped 3%.
Showrooming to affect up to $1.7 billion in 2012 holiday retail sales

Framingham, Mass. -- IDC Retail Insights on Wednesday released a new survey report, “Business Strategy: At Hand Versus In Hand — Will Consumers Have the Upper Hand in the 2012 Holiday Showroom Showdown?,” which found that 48 million shoppers will “showroom” or use their smartphones in some manner while they shop in stores during the upcoming winter holiday season.
Market Track: October 2012

The overall trend has been similar to what we saw last month with a marginal decrease in the number of circulars, while increases were seen in page counts per market. Average pages per market saw 10% increase this year October when compared with the same month last year.
Forecast: Black Friday to give retailers holiday boost

Charleston, S.C. -- A shopping forecast released Tuesday by America’s Research Group found that 31.8% of U.S. consumers said they will shop Black Friday Weekend in search of big-ticket items. But the biggest boost will be in the five days before Christmas when more Americans than in the last seven years say they will shop.
All clear for Black Friday

The busiest shopping weekend of the year is just around the corner and retailers who don’t hit their sales plan won’t be able to blame the weather.
Target to seek LEED certification for all 2013 Canadian stores

Toronto -- Target Corp. announced Wednesday it is pursuing Leadership in Energy & Environmental Design (LEED) certification for all Canadian stores opening in 2013.

Design plans include conserving energy and water, reducing greenhouse gas emissions and limiting waste sent to landfill, among other features.
Hurricane Sandy to Affect Holiday Sales Only Slightly, and to the Positive

By Craig Johnson, [email protected]
ShopperTrak: 10 best holiday shopping days

Chicago -- ShopperTrak released a forecast on Tuesday that indicates certain days during the holiday shopping season will be quieter than others. The "10 best days to shop," according to ShopperTrak, are those with the least amount of foot traffic in stores. The weekdays after the busy Thanksgiving weekend top the list.

Gap ups outlook on strong Q3

Gift card spending to reach record $28.79 billion

Abercrombie and Fitch profit surges in Q3, raises outlook

Showrooming to affect up to $1.7 billion in 2012 holiday retail sales

Market Track: October 2012

Forecast: Black Friday to give retailers holiday boost

All clear for Black Friday

Target to seek LEED certification for all 2013 Canadian stores

Hurricane Sandy to Affect Holiday Sales Only Slightly, and to the Positive

ShopperTrak: 10 best holiday shopping days