Retail

Stockholm, Sweden -- Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period. The Swedish fashion retailer cited rising procurement costs, marketing investments and a bump-up in new-store expansion for the decrease in profit.

H&M said it will add 265 new stores, up from the 250 previously planned, and will make market debuts in Indonesia and Thailand.

EL SEGUNDO, Calif. — Fresh & Easy announced that it has doubled its gluten-free product range, the supermarket chain announced Wednesday.

New York City -- A report released Thursday by Bloomberg said that consumer confidence in the United States slumped last week to the second-lowest level on record.

The Bloomberg Consumer Comfort Index dropped to minus 53 in the period ended Sept. 25 from minus 52.1 the prior week. Similar readings were reached three times in the first half of 2009 and surpassed only by all-time lows of minus 54 plumbed in November 2008 and again in January 2009.

MATTHEWS, N.C. — The chief investment officer of Trian Fund Management has been named to the board of directors at Family Dollar, the retailer announced.

Edward Garden's appointment as board member is effective immediately. With this appointment, Family Dollar's board expands to 11 directors.

As part of our in-depth coverage of mixed-use developments – see the October 2011 issue of Chain Store Age – we talked with Rob Wetherald, VP development for Peoria, Ill.-based Cullinan Properties, Ltd., owner and developer of the Streets of St. Charles mixed-use project in metro St. Louis, about how the format draws, and supports, retail.

How important are design and amenities to today’s mixed-use projects, especially with regard to the retail component?

Tempe, Ariz. -- Self-serve frozen yogurt concept Yogurtini said Thursday it will open the first of 10 stores planned for the southern Florida area.

A unit in Coral Springs, Fla., will open on Oct. 1, marking the first of 10 franchise locations through an area-development deal with Emilio and Javier Braun.

The brothers, who are based in Miami, are in the process of opening stores in Davie, Fort Lauderdale and the Hammocks Community in South Miami-Dade County.
 

Atlanta -- According to a report released Thursday by First Data Corp., the prepaid gift-card market has remained healthy during the first half of 2011, despite a sluggish economy.

The 2011 Midyear Gift Card update showed that the gift card market experienced a higher rate of growth than U.S. consumer spending.

Wan Ling Martello may not have been a household name outside of Walmart, but that doesn’t diminish the significance of her departure from a company eager to achieve a higher degree of diversity among the ranks of its senior executives.