Discount Store

NEW YORK — Most consumers have their wallets ready for Thanksgiving weekend and are armed with plans to spend an average of $224, according to Deloitte's pre-Thanksgiving shopping survey.

Savannah, Ga. -- Citi Trends reported Tuesday a loss of $6.8 million in the third quarter, compared with a loss of $0.4 million a year earlier.

Sales increased 2.2% to $143.1 million, from $140 million. Same-store sales decreased 9.3%.

The company opened 26 stores, relocated or expanded four others and closed one store in the third quarter.
 

MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

New York City -- A survey released Tuesday by Deloitte, which polled 1,000 consumers, found that the majority – 51% – will shop in stores or online over the Thanksgiving weekend. Among them, 66% plan to shop in stores on Black Friday and 17% plan to shop in stores on Thanksgiving Day.

The survey also found that shoppers expect to spend an average of $224 over the holiday weekend.

San Francisco -- Walmart has the most engaged users across its social media platforms as the days count down to the holiday shopping season, according to a study by the social media and digital analytics company Socialbakers.

Walmart has the most number of fans topping the list at over 10 million fans, with over 7,500 fan posts last month, Socialbakers said. The engagement rate represents fan interactions and although Target ties with an average monthly engagement rate, Walmart has nearly double the number of fans who are actively posting.

Consistent with promotional strategies from previous years, Target is offering some insane prices on popular electronics items. Unfortunately, if holiday shoppers follow the advice of Consumer Reports this year they won’t be coming to Target.

If you’re someone who puts off your holiday shopping until the last minute to save a few bucks by scouring for the best “deals” and taking advantage of those absolute bargain basement prices, I’m afraid you may be in for a rude awakening this holiday shopping season. If my sense of the retail landscape is correct, I think it’s possible we’ll see prices increase as Christmas gets closer.

Wichita Falls, Texas -- Dallas-based Cypress Equities said Monday that Jimmy John’s Gourmet Sandwiches has signed a lease to occupy 1,710 sq. ft. at Kemp Crossing, located in Wichita Falls, Texas.

The new Jimmy John’s location will be operated by franchisee Balwanti Indra Dayaram.