Retail

San Diego -- Warehouse club operator PriceSmart said Friday that net income for the quarter ended Nov. 30 edged down to $14 million, compared with $14.9 million in the year-ago period.

Net warehouse sales increased 24.1% to $468.3 million from $377.3 million, and total revenue rose to $478.7 million from $386.1 million.
 

Online sales increased 15% to $35.3 billion from Nov. 1 through Dec. 25 compared with the same time period the prior year, according to the online measurement firm comScore.

Minneapolis -- Target Corp.’s plan to open 125-135 stores in Canada is rapidly taking shape, as the retailer has released the locations of its first 24 stores in the country.

As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc.

The majority of Target’s initial two dozen stores will open in early 2013, and include four locations in Toronto (Centrepoint Mall, Cloverdale Mall, Shoppers World Danforth and East York Town Centre).

Just in time for the Consumer Electronics Show next week in Las Vegas, Market Research Solutions (MRS) is out with a new report that provides unconventional insights into the 2011 holiday season and outlook for 2012.

The Tampa, Fla.-based research firm surveyed 272 department managers in early December at such retailers as Walmart, Target, Best Buy, HhGregg and dominant regional players to gain a unique perspective on a category of business that is the most dynamic in retail. Among some of the key findings MRS provided exclusively to RetailingToday.com were:

Hampshire, United Kingdom -- The global redemption rate of mobile coupons will average at over 8% by 2016, which represents an eightfold increase over the best paper coupons campaigns, according to a new report from Juniper Research. North American and Western European markets are now beginning to follow the same growth path as the Far East & China and by 2016 there will be over 600 million regular mobile coupon users worldwide.

Lakeland, Fla. -- Columbus, Ohio-based Casto announced that Burger 21, headquartered in Tampa, will open a fast-casual burger and shake restaurant at Casto’s Lakeside Village property, in Lakeland, Fla.

The 2,559-sq.-ft. restaurant, which is slated to open spring 2012, will feature outdoor patio seating plus interior space for 70-80 customers. It will be located across from GrillSmith Lakeland and next to Cobb Theatres – Lakeside Village 18.
 

New York City -- Forest City Ratner Cos. announced that Kathryn Welch has been named retail group senior VP.

With 26 years of collective experience working with both New York City-based FCRC and its Cleveland-based corporate parent Forest City Enterprises, Welch now will assume oversight of all of FCRC’s retail projects. This includes retail properties under development as well as the company’s entire retail operating portfolio in the New York Metropolitan area.

PHOENIX — PetSmart CEO Robert Moran has taken on the additional role of chairman of the board, the company announced Friday. Moran has been the company's president and CEO since 2009, and served as president and COO from 2001 to 2009. Phil Francis, previously executive chairman, will remain a member of the board.