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Discount Store

  • Dollar Tree reports strong Q3, raises guidance

  • New Black Friday insights

  • Children's Place lowers FY outlook after tough Q3

  • Sears loss widens in Q3

    Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its loss for the quarter ended Oct. 31 widened to $218 million, compared with a loss of $127 million in the year-ago period. The loss was more than analysts expected as margins fell and sales dropped, especially at the company's namesake stores.

    "While Kmart improved profitability, our third-quarter results were disappointing, in large part due to lower sales of apparel and appliances at Sears," said interim CEO W. Bruce Johnson.

  • Wal-Mart plans first stores in Washington, D.C.

    Bentonville, Ark. -- Wal-Mart Stores said Thursday it will open its first four stores in Washington, D.C., as part of the retailer’s effort to increase its urban expansion stride.

    Wal-Mart said it plans to open the smaller-format urban stores in Washington, D.C. in late 2012, and said it has met little resistance from the area. The retailer said its poll of 800 locals found nearly three-quarters of Washingtonians favored Wal-Mart coming to the city.

  • BJ’s to raise membership fee

    Natick, Mass. -- BJ’s Wholesale Club plans to raise its annual membership fees by $5, to $50, and invest the increased revenues in store remodels.

    The fee increase, which will start in January, is the company’s first since 2006. BJ’s said it would generate about $20 million in new revenue, including an expectation that renewals would decrease 1% to 1.5% as a result of the hike.
     

  • Dollar Tree reports 37% rise in Q3 net income

    Chesapeake, Va. -- Dollar Tree said Thursday that net income for the quarter ended Oct. 30 rose 37% to $93.2 million, from $68.2 million in the year-ago period.

    Consolidated net sales for the third quarter were $1.43 billion, a 14.2% increase from $1.25 billion a year earlier. Same-store sales increased 8.7%.

    During the third quarter, Dollar Tree opened 86 stores, expanded or relocated 27 stores, and closed two stores. The company currently operates 4,009 stores in 48 states.

  • Sports Authority, HomeGoods join Shops at Midtown Miami

    Miami -- Beachwood, Ohio-based Developers Diversified Realty Corp. said that The Sports Authority, HomeGoods and a selection of retail shops and restaurants are opening and coming soon to The Shops at Midtown Miami, a 645,000-sq.-ft. mixed-use retail, dining and residential center.

    The Sports Authority plans to open a 34,544-sq.-ft. store in 2011. HomeGoods opened a 25,351-sq.-ft. location in late fall 2010.

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