eCommerce

The warehouse club channel remains one of the hottest segments in retail as evidenced by the solid third-quarter results Costco reported earlier this week on the heels of the equally solid first-quarter results Sam’s Club reported last week.

Although the company’s operate on different fiscal years, the quarterly periods are comparable with only one week separating Costco’s May 8 third-quarter end date from Sam’s Club’s April 30 end date.

MINNEAPOLIS — Target announced that it is partnering with soprano singer, Jackie Evancho, for the exclusive, deluxe edition of her first full-length studio album, “Dream With Me.” The deluxe edition, which includes four additional new songs, is currently available for pre-order at Target.com, and will be at Target stores nationwide beginning June 14.

Walmart is scheduled to hold its annual shareholders’ meeting one week from today, and the event is a tale of two meetings. One the one hand, there is the pageantry and puffery of the actual shareholders meeting, which runs from 7 a.m. to about 11 a.m. central time. If the company holds true to form the event will be a high-energy, star-studded affair that is long on style and short on substance with a dollop of official business thrown in. The event is designed primarily for the thousands of employees who attend from throughout the U.S.

Have you seen the new ad campaign from Newegg.com? The online electronics retailer recently began airing spots that take aim at Best Buy the same way ads Best Buy ran back in 2009 took aim at Walmart.

MEMPHIS, Tenn. — Fred's net income increased 16% to $9.5 million, or 24 cents per diluted share, compared with net income of $8.2 million, or 21 cents per diluted share in the year-earlier period.

The retailer said that total sales rose 3% to $484.4 million from $471.6 million for the same period last year. For comps, Fred's reported a 1% rise on top of a 2.2% increase for the first quarter last year.

Fred's gross profit for first quarter 2011 increased 1% to $137.9 million from $136.9 million in the prior-year period.

Secaucus, N.J. — Syms Corp. said Thursday it is mulling selling itself and other strategic alternatives as the company continues to struggle after acquiring Filene’s Basement in 2009.

The off-price retailer, which bought Filene’s out of bankruptcy for $62.4 million in 2Q 2009, said its board is currently evaluating its options. It reported a loss at the end of its fiscal year in February, and losses had widened as of earlier this month.

New Delhi, India  — A Thursday report by Bloomberg said that India will announce new rules for foreign investment in retail by April 2012, which will pave the way for Wal-Mart Stores and Carrefour SA to open stores in the country.

 “We are much further down the process than people think,” said Junior Trade Minister Jyotiraditya Scindia in an interview with Bloomberg. “I think it is a huge opportunity” for India. 

New York — Backed by an improving economy, a recent surge in jobs and ten consecutive months of rising retail sales, a broad range of retailers are poised to fill up empty retail spaces over the next 12 to 18 months, according to Colliers International,  the third-largest commercial real estate services company in the world.

Seattle — Nordstrom announced plans to close its Circle Centre store in downtown Indianapolis, Ind.   Opened September 8, 1995, the 216,000-sq.-ft.  location will close to the public at the end of business on July 31, 2011. 

The retailer will continue to operate a nearby location at The Fashion Mall at Keystone, Ind..  It will open  a Nordstrom Rack store at the Shops at Rivers Edge in September.

Philadelphia — Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) announced that it has hired two new directors of retail leasing— Peter Elliott and Amy MacLaren.

Both will be responsible for the leasing of regional malls and retail relationships with key national tenants.