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Chico’s profit up 27%
Fort Meyers, Fla. -- Chico’s FAS said its third-quarter profit rose 27% to $28.8 million from $22.7 million a year ago, driven by higher sales. The results beat analysts projections.
Net sales rose 8.1% to $483 million, from $446.9 million a year ago. Same-store sales rose 3.1%.
Direct-to-consumer sales, which includes online sales and isn’t included in comparable-store sales, increased about 41% to $34.4 million in the quarter. -
Sports Authority, HomeGoods join Shops at Midtown Miami
Miami -- Beachwood, Ohio-based Developers Diversified Realty Corp. said that The Sports Authority, HomeGoods and a selection of retail shops and restaurants are opening and coming soon to The Shops at Midtown Miami, a 645,000-sq.-ft. mixed-use retail, dining and residential center.
The Sports Authority plans to open a 34,544-sq.-ft. store in 2011. HomeGoods opened a 25,351-sq.-ft. location in late fall 2010.