Mass Merchant

Columbus, Ohio -- Big Lots on Friday posted a lower-than expected quarterly profit, and the company cut its outlook for the crucial holiday quarter, in the face of strong competition and aggressive promotions from rivals.

The chain said profit for the quarter ended Oct. 30 fell 42% to $17.7 million, from $30.3 million a year earlier, when the company's earnings included a 10-cents-a-share benefit from real estate transactions. Net sales in the latest quarter rose 2% to $1.06 billion as same-store sales rose 0.7%.

Houston -- Houston-based commercial real estate brokerage Baker Katz, an X Team partner, announced that it has acquired a former Hollywood Video building at Grogan’s Mill and Sawdust in The Woodlands, Texas. 

As part of an investment fund dedicated to real estate development, acquisition and ownership, Baker Katz purchased the 7,500-sq.-ft. building that is located near the area’s newest Wal-Mart Supercenter in The Woodlands, and plans to renovate and expand the building, subdivide it and re-lease the new spaces to individual tenants.

New York City -- The nation’s discount retailers and warehouse club operators posted strong sales in November, beating analysts’ expectations. The results were fueled by promotions and cold weather in some parts of the country, as well as strong Black Friday traffic.

Target Corp. said Thursday more shoppers came to its stores in November and spent more than a year earlier, helping to fuel a 5.5% rise in same-store sales during the month. Analysts polled by Thomson Reuters, on average, expected a 3.7% gain.

Columbus, Ohio -- Kantar Retail said Thursday that same-store sales got a big lift to 6% growth in November from a strong promotional environment, as well as from an easy year-ago comparison period and shifting shopper spending intentions.

The sales-weighted composite for the 30 retailers reporting -- most of them apparel retailers -- was better than the 1.7% same-store sales gain last month and the 0.9% gain in November of 2009 for the same measure. (The calculations don’t include Walmart, which stopped reporting monthly results in April 2009.)

New York City -- Retailers nearly across the board reported a strong start to the holiday season as their November sales were enhanced by aggressive discounting that started early in the month. Same-store sales rose 6% in November,  above the estimated growth of 3.6% and the year-ago gain of 0.6%, according to 27 retailers tracked by Thomson Reuters. 

New York City -- Department store retailers enjoyed a strong November, with nearly all the leading chains topping analysts  projections.

Macy’s reported Thursday that its same-store sales rose 6.1% in November, boosted by a strong Black Friday weekend. The company raised its earnings guidance.