eCommerce

HUDSON, Ohio — While many retailers are boasting about opening on Thanksgiving Day night to give shoppers an early start on the Black Friday weekend, Jo-Ann Fabric and Craft Stores is going in a different direction and will stay closed for the holiday. 

Dallas -- Cake retailer Nothing Bundt Cakes said it is expanding its Texas presence with four new leases.

The retailer worked with Venture Commercial Real Estate to negotiate new stores in Arlington, Frisco, Flower Mound and Rockwall.

Nothing Bundt Cakes entered the North Texas market in 2007 with a Southlake store and has since added locations in Dallas, Fort Worth and McKinney. The four new leases will bring the total to eight locations open by the end of 2011, with plans to open stores in Plano and the Lake Highlands area in 2012.

SAN BRUNO, Calif. — Walmart announced that it is offering free shipping on electronics more than $45 through Dec. 19 at Walmart.com.

City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit rose to $3.1 million in the quarter ended Oct. 29, compared with $400,000 in the year-ago period. Prior-year results were weighed down by charges from its ShockHound website, which folded.

Revenue fell 4% to $175.8 million from $183.2 million in the quarter, missing Wall Street’s expected $177.8 million in revenue.

Same-store sales dipped 1.6% at Hot Topic and Torrid stores, attributed to disappointing Halloween sales.
 

Cleveland -- CenterMark Development said it has signed a lease with Deal$, a division of Dollar Tree, to occupy an 11,000‐sq.-ft., former Easttown Eagle Market building in the Glenville neighborhood of Cleveland.

CenterMark purchased the long‐vacant building in October and said it expects to complete the rehabilitation by the spring of 2012. A grand opening is expected during the second quarter following interior improvements by Deal$.
 

SECAUCUS, N.J. — The economy may be keeping some families from purchasing new clothes for their children, but that didn't stop The Children's Place from delivering earnings that beat estimates.

The company reported income from continuing operations of $33.7 million, or $1.33 per diluted share, compared with $31.2 million, or $1.14 per diluted share, in the third quarter of 2010. Analysts were expecting earnings of $1.27 per diluted share.

New York City -- A report released Thursday by the International Council of Shopping Centers and Goldman Sachs said that 34% of consumers plan to shop on Black Friday, up from 31% in 2010 and 26% in 2009.

“In addition to buying gifts, consumers overwhelmingly indicated that they would be looking for bargains on Black Friday for themselves as well,” said Michael P. Niemira, chief economist and director of research for ICSC.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its loss widened in the third quarter on softness in its Canada division and on weaker consumer electronics sales.

The operator of Sears and Kmart recorded a loss of $421 million in the quarter ended Oct. 29, compared with a loss of $218 million a year earlier.

Revenue slipped 1% to $9.57 billion from $9.68 billion, missing the $9.63 billion expected by Wall Street, and marking the fourth straight quarter of revenue declines.