eCommerce

The Westfield Group has agreed to purchase the Port Authority of New York and New Jersey’s remaining 50% interest in the World Trade Center’s retail square footage. The purchase price is US$800 million. Following the transaction, expected to close early next year, Westfield will own 100% of the retail space, which totals 365,000 sq. ft.

Anaheim, Calif. – Pacific Sunwear experienced explosive growth in net income during the third quarter of fiscal 2013, skyrocketing to $17.2 million from $948,000.

Net sales fell 4% to $206.6 million from $215.5 million, while same-store sales grew 1%.

Waldorf, Germany -- Black Friday social mentions more than doubled those of Cyber Monday this year. But a new infographic from SAP shows that consumers felt the most excited and happy about Cyber Monday.

Hoffman Estates, Ill. – Sears Hometown and Outlet Stores reported mostly negative financial results for the third quarter of fiscal 2013. Net earnings fell about 12% to $7.69 million, from $8.76 million.

A 2% decrease in same-store sales and unfavorable calendar shift due to the 53rd week in fiscal 2012 offset slight growth in net sales to $561.1 million from $556.9 million.

Nashville, Tenn. – Genesco’s net earnings fell 34% to $27.7 million, from $42.1 million during the third quarter of fiscal 2013 for Genesco. The company also reported a slight increase in net sales, to $666.3 million from $664.4 million, during the same period.

Plano, Texas – Rent-A-Center plans to rebrand the kiosks it operates within third-party retail locations across the country.

Operating under the RAC Acceptance brand since being launched in 2006, the kiosks will transition to the AcceptanceNow brand. Existing kiosks, of which there are over 1,300, will convert in January 2014. Kiosks slated to open this month will immediately adopt the AcceptanceNow name.

Washington, D.C. -- The retail industry will lose an estimated $8.76 billion to return fraud this year, and $3.39 billion during the holiday season alone, according to the National Retail Federation’s 2013 Return Fraud Survey. Overall, 5.8% of holiday returns are fraudulent, up slightly from 4.6% last year.

Hoffman Estates, Ill. — In a not-so-unexpected move, Sears Holdings Corp. on Friday said it had filed to spin off its Lands' End unit.

Sears has been selling or spinning off assets during the past few years as it struggles to turn around its business. The company sold its Orchard Supply Hardware Stores and its Sears Hometown and Outlet Stores businesses last year. In October, Sears said it would consider strategic alternatives for its line of auto centers. Sears also is selling some store leases in Canada.

Specialty retailer Five Below offered a somewhat muted outlook for holiday sales despite posting impressive growth in third-quarter same-store sales and achieving record expansion in 2013.

The company has opened 60 new stores this year and its same-store sales grew 9% during the period ended Nov. 2. Of the new stores opened this year, 28 came online during the third quarter and 11 of those were in Dallas, a new market for the rapidly expanding company.

Chad Kessler was named chief merchandising and design officer at American Eagle Outfitters after the company reported a big decline in third-quarter profits and said it expects fourth quarter same-store sales to decline.