Sales & Marketing

New York City -- Saks reported Tuesday that its net income rose to $36.3 million for the quarter ended Oct. 30, up from $6.3 million in the year-ago period. Third-quarter 2010 results were helped by a surge in luxury spending and a $26.7 million gain related to income tax reversals.

Revenues rose to $658.8 million for the quarter, compared with $631.4 million the prior year. Same-store sales increased 5.7%.

New York City -- Asking rents for retail spaces in New York City hot spots are rising in certain corridors, according to The Real Estate Board of New York’s (REBNY) Fall 2010 Retail Report.

According to the report, since spring 2010, retail asking rents climbed 21% to $1700 per square foot in the Times Square corridor defined by Broadway and 7th Avenue between 42nd and 47th Streets.

Boston -- Portrait Software, a provider of customer interaction optimization software and now a part of Pitney Bowes Business Insight, announced Tuesday that T-Mobile Austria has selected Portrait Uplift Optimizer following a successful trial that demonstrated improved customer retention and reduced costs, compared with previous approaches.
 

Modesto, Calif. -- Save Mart Supermarkets is set to launch a new value-focused concept, called Maxx Value Foods, which is designed to offer consumers lower prices, with a center aisle dedicated to high-value offerings.

The chain has converted a 34,000-sq.-ft. conventional store in Modesto, Calif., into the new format, which will debut on Wednesday.

The limited-selection store will retain the appearance of a conventional grocery store, but will use a selection of products as a key element to drive down prices, the company said.

Atlanta -- Home Depot reported Tuesday that it recorded higher-than-expected earnings in the third quarter, boosted by tighter cost controls.

The company’s net income rose to $834 million in the quarter ended Oct. 31, compared with net income of $689 million a year earlier.

Sales rose 1.4% to $16.60 billion, slightly above Wall Street expectations of $16.59 billion. Same-store sales at Home Depot's U.S. stores rose 1.5%. It was the chain’s fourth-straight quarterly gain after three years of declines

Framingham, Mass. -- The TJX Cos.' fiscal third-quarter earnings rose 7%, topping its own forecasts, as the discount retailer's sales improved.

The company reported a better-than-expected profit of $372.3 million, up from $347.8 million in the year-ago period. Net sales rose 5% to $5.53 billion, from $5.24 billion. Same-store sales increased 1%.