Department Store

New York -- Retailers across the board, from Victoria’s Secret parent L Brands Inc. and American Eagle Outfitters to Family Dollar Stores and Bed, Bath & Beyond, cut their fourth-quarter earnings forecasts on Thursday as heavy promotions and discounts cut into profits. Results were also impacted by multiple snowstorms, a shortened shopping season and cautious consumers.  

In partnership with PlaceWise Media, CBL & Associates Properties has launched websites with technology that connects retailers and customers at 27 of its malls.

The technology collects deals offered by retailers and puts them in front of shoppers via smartphones and tablets. It provides every retailer and restaurant in a mall with an online presence that enables each to engage local customers.

Union, N.J. -- Bed Bath & Beyond Inc.’s third quarter net earnings rose to $237.2 million, less than Wall Street expected, from $232.8 million in the year-ago period, as higher costs and expenses impacted sales growth. The company trimmed its full-year earnings outlook.

Revenue for the three months ended Nov. 30 rose 6% to $2.87 billion, from $2.7 billion. Same-store sales increased 1.3%.

Secaucus, N.J. – The Children’s Place Retail Stores has expanded its existing franchise agreement with Fawaz A. AlHokair & Co. SJSC covering retail stores in Saudi Arabia, to include opening a total of approximately 25 stores in Egypt and the Commonwealth of Independent States (C.I.S. Region) of Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan, beginning in mid-2014.

Soft sales at leading home goods retailer Bed Bath & Beyond led to a puny comp increase of 1.3%, lower than expected third quarter profits and a downward revision to fourth quarter expectations.

J.C. Penney provided an ambiguous update on its holiday season performance, indicating it showed continued progress in its turnaround efforts and was “pleased” with its performance.

The company released a brief and vague statement Wednesday morning in which it noted, “customers responded well to the company’s offerings this holiday season, both in stores and online.”

Former Kohl’s and Carhartt merchandising executive Sue Fuller was named chief merchandising officer at Vera Bradley, an upscale retailer and designer brand looking to restore growth under the leadership of new CEO Robert Wallstrom.

Plano, Texas -- J.C. Penney issued a brief statement on Wednesday saying that it was "pleased” with its performance for the holiday selling period, and reaffirmed its fourth quarter fiscal 2013 guidance for increased same-store sales. But the retailer did not provide any specific sales data.