Retail

Memphis -- Fred's said Tuesday that its third-quarter net income surged 56%, partly because of its improved merchandise mix and remodeled and upgraded stores.

The discounter’s net iFred's said Tuesday that its third-quarter net income surged 56%, partly because of its improved merchandise mix and remodeled and upgraded stores.ncome rose to $7.8 million for the period ended Oct. 30, compared with $5 million in the year ago period. The performance topped analysts’ estimates.

New York City -- J. Crew Group is close to an agreement to be bought by TPG Capital and Leonard Green & Partners for about $2.8 billion, according to reports by the Associated Press, Bloomberg and other news groups.

TPG and Leonard Green would pay $43.50 a share in cash, or 16% more than J. Crew’s closing share price yesterday, according to various reports.

Bentonville, Ark. — Wal-Mart Stores Inc. will match competitor prices beginning on Thanksgiving Day and running through the Black Friday weekend.

Customers can bring in competitors ads and Walmart will match the price of any identical price at the register. The offer does not apply to online purchases.

Wal-Mart is also offering 150 online-only specials on Thanksgiving Day as well as "Black Friday" specials on electronics, home and apparel items in stores throughout the rest of the weekend.

Bentonville, Ark.

New York - Gymboree Corp. said Monday it did not receive any offers that top Bain Capital's $1.8 billion bid for the company and so the buyout will proceed.

The allotted time for Gymboree to receive competing offers expired Friday.

"Despite a broad solicitation of potentially interested parties, the Company did not receive any alternative acquisition proposals during the 'go-shop' period," Gymboree said in a statement.