Supply Chain & Merchandising

Philadelphia -- Urban Outfitters reported Monday that net income in the third quarter rose 17.4% to $59.5 million, compared with $50.7 million in the prior-year period but missing Wall Street estimates.

Sales rose 13.6% to $692.9 million, narrowly missing analysts’ expected $692.5 million in revenue. Same-store sales dipped 1%.

Covington, La. -- Stirling Properties has announced it will develop a new full-service Walgreens drugstore in Gulfport, Miss.  

The proposed Walgreens will be located on a former Gulfmart Shopping Center site. Stirling Properties is providing development services, including lease negotiation, financing, and project management, to a third party owner of the property.

Chicago -- GoldMax USA said it has opened a store in Rancho Santa Margarita, Calif., marking the chain’s 50th store in the state. It operates more than 200 stores nationwide.

GoldMax said it has plans to open eight more California stores within the next 30 to 60 days in City of Industry, El Cajon, Los Angeles, Murrieta, Norco, Orange, Rancho Cucamonga, San Juan Capistrano, and Upland.
 

New York -- Retail sales growth in the United States will rebound from the third quarter this holiday season, but will be down on the previous  two years' robust gains, according to a new report by Moody's Investors Service. The study, "Holiday Sales Will Overcome the U.S. Fiscal Policy Grinch," also finds that earnings growth will be slightly stronger.

Leading footwear retailer DSW said it would open between 25 and 30 new stores next year, adding to an existing base of 364 units.

The company disclosed its expansion plans in conjunction with the release of third quarter results that saw same store sales advance a hefty 6.1% and profits grow by double digits. Adjusted net income increased 17% to $46.6 million, or $1.02 per share, compared to $39.8 million, or $0.88 per share.

Fort Myers, Fla. -- Chico's FAS reported Tuesday that net income for the quarter ended Oct. 27 surged 57.4% to $41.7 million, compared with $26.5 million in last year's third quarter.

Sales increased 18.2% to $636.7 million, and same-store sales grew 9.9%.

By banner, Chico's/Soma Intimates same-store sales increased 11.6%, and White House|Black Market rose 6.4%.

Jackson, Miss. -- WS Development announced that Whole Foods Market broke ground in early November on a new 31,000-sq.-ft. store at Highland Village in Jackson, Miss., marking the grocer’s debut in the state.

The new store will open in 2013, joining about 50 shops and restaurants at the 220,000-sq.-ft. mixed-use center, such as Mason Weiss, Talbots, Whitehead Street Clothiers, and Albriton's Jewelers.

New York -- Lowe's Cos. said Monday that its third-quarter net income jumped 76%, helped by lower costs and higher revenue. Its adjusted earnings without charges and its revenue both beat Wall Street forecasts.  

Lowe's earned $396 million for the three months ended Nov. 2. That compares with $225 in the year-ago period. Revenue rose 2% to $12.07 billion from $11.85 billion. Same-store sales were up 1.8%.