Department Store

Hingham, Mass. -- The Talbots on Tuesday said its third-quarter profit rose 17% on cost-cutting. But its revenue fell and the retailer offered weak fourth-quarter guidance and cut its full-year outlook.

Washington, D.C. -- The U.S. Supreme Court on Monday agreed to decide whether to certify the largest class-action employment discrimination lawsuit in U.S. history, a long-standing dispute involving Wal-Mart Stores and alleged gender bias in pay and promotions.

New York City -- Activist investor Bill Ackman’s Pershing Square Capital Management raised its stake in Borders Group from 31.5% to 37.3% and is prepared to finance an offer by Borders to buy larger rival Barnes & Noble, according to a filing with the Securities and Exchange Commission Monday.

According to the statement, Ackman is prepared to finance an offer by Borders to buy all of Barnes & Noble’s stock in an all-cash transaction valued at $16 per share, which would amount to about $960 million, based on the shares outstanding.

New York City -- Loehmann's Holdings filed a Chapter 11 reorganization plan that includes a stock-rights offering backed by its Dubai-based owner, according to a Friday report by Bloomberg. The plan also includes a requirement that the Loehmann’s seek approval to sell its assets.

New York City -- Forever 21’s massive Times Square flagship, a shop that sells ice cream made to order and frozen with liquid nitrogen, and a new beauty-and-wellness concept in Hong Kong are on a list of the hottest new stores around the globe.

The list comes from the folks behind the cutting-edge, London-based retail consultancy echochamber.com:

New York City -- The National Retail Federation on Friday released its 2010 list that annually ranks the 10 stores with the best customer service.

The list is based on surveys of more than 9,000 shoppers, all asked the following question: “Thinking of all the different retail formats (store, catalog, Internet or home shopping), which retailer delivers the best customer service?”

In total, the NRF ranked 46 stores, and will release the complete list in January.

Scottsdale, Ariz. -- Columbus, Ohio-based Glimcher Realty Trust announced that infant furniture, accessory and clothing retailer giggle has joined the growing tenant roster at its Scottsdale Quarter project in Scottsdale, Ariz.

The new store, which opened Dec. 2, is giggle’s 13th store and first in the state of Arizona.

The giggle store will join other national tenants at Scottsdale Quarter, including Nike; Apple Store; A/X Armani Exchange; H&M, West Elm; and IPic Theaters.