Department Store

Disney Store has opened its largest and most ambitious store to date -- smack in the middle of Manhattan’s Times Square. The 20,000-sq.ft., two-level Disney emporium is about five times bigger than most Disney stores, with a layout that is divided by the company’s most popular franchises.

Los Angeles -- Guess said its fiscal third-quarter net income rose 7.8% to $69.1 million from $64.1 million a year ago, surpassing analysts forecasts. The company lifted its full-year earnings forecast.

Revenue for the quarter ended Oct. 30 rose 17% to a record $613.9 million, also topping predictions, with a strong boost from international sales.

The company's retail stores in North America generated revenue of $253.7 million in the third quarter, up 5.9% from the same period a year ago. Same-store sales increased 1.5%.

New York City -- Tiffany & Co. reported a 27% gain in third-quarter profit, topping analysts’ estimates, as sales rose globally. The jewelry retailer raised its full-year earnings forecast.

Net income rose to $55.1 million, from $43.3 million in the year-ago period, better than analysts had expected.

Retailers and developers from around the country are preparing to attend the International Council of Shopping Centers’ New York deal-making convention in New York City on Dec. 6 and Dec. 7. Chain Store Age talked with Ivan L. Friedman, president and CEO of New York City-based retail real estate advisory firm RCS Real Estate Advisors, about what the industry has in store for the New York show and beyond.

As retailers prepare to attend the New York deal-making show in early December, how would you describe the current state of retail?

Naples, Fla. -- Beachwood, Ohio-based Developers Diversified Realty Corp. said that Hhgregg has joined Carillon Place, a 283,238-sq.-ft. community center in Naples, Fla., and Peach Street Square, a 676,245-sq.-ft. shopping center in Erie, Pa.

Joining national tenants Walmart Neighborhood Market, Bealls Outlet, T.J.Maxx, Ross Dress for Less and OfficeMax, Hhgregg opened a 36,459-sq.-ft. store at Carillon Place.

The 28,152-sq.-ft. Hhgregg store at Peach Street Square joins Lowe's, Home Depot, Kohl's, Cinemark and PetSmart.

New York City -- Belk is investing $150 million to boost online sales and upgrade its IT systems, The Charlotte Observer reported.

The department store operator plans to focus on improving its e-commerce functions and replace its current systems for ordering and allocating merchandise, according to the report.

Belk has sought to boost its online presence in recent years to keep up with competitors in a marketplace where online sales are growing rapidly.

St. Louis -- Brown Shoe Co., parent of Famous Footwear and Naturalizer shoe stores, said Tuesday that its fiscal third-quarter profit rose to $18.6 million from $16.3 million, topping analysts estimates.

Sales in the quarter ended Oct. 30 rose 14.5% to $716.1 million, from $625.6 million.

Boston -- The Gymboree Corp. and Bain Capital Partners, on Tuesday announced the successful completion of the company by affiliates of Bain Capital for $65.40 per share in cash, or approximately $1.8 billion.

As of Oct. 30, Gymboree operated 1,049 retail stores: 636 Gymboree stores (595 in the United States; 37 in Canada, two in Australia, and two in Puerto Rico); 148 Gymboree Outlet stores; 122 Janie and Jack shops; and 143 Crazy  stores in the United States.