Store Systems

Jacksonville, Fla. -- Stein Mart Inc. on Thursday said it has had to revise its Q3 financial results, because it mishandled records related to a pending changeover in its electronic inventory system. The computer error led the retailer to miss recording permanent markdowns for the quarter ended Oct. 29.

The adjustment, which will reduce gross margin and inventory, will widen Stein Mart’s third-quarter loss by $1.3-$1.6 million. The retailer had reported a loss of $1.8 million for the period.

Beaumont, Texas -- Conn’s Inc. reported Thursday that losses in the third quarter widened to $12.7 million from $4.8 million a year ago.

Sales rose 5% to $179.5 million.

The electronics retailer also announced that it made Theodore M. Wright its permanent president and CEO. He had been the company’s interim president and CEO since February 2011.

Mooresville, N.C. -- Lowe’s said Thursday it will open a new Customer Support Center in Albuquerque, N.M., in first quarter 2012.

The center is estimated to create 250 jobs by March and a total of 600 jobs by the end of 2013.

Houston -- ATM owner Cardtronics said Thursday it has forged a long-term agreement in Puerto Rico with National Lumber & Hardware to install ATMs at 38 locations for the home improvement and interior design retailer.

National Lumber & Hardware is a division of Pitusa, the island’s largest Puerto Rico-based retailer.

Chicago -- A report release Wednesday by ShopperTrak said that sales increased just 0.2% year-over-year for the week ending in Dec. 3, representing a 22.5% decline from the prior week, which held the largest Black Friday in history — both in terms of sales and traffic. 

According to ShopperTrak, this sharp decline in retail sales is typical of the week following Thanksgiving. Although shoppers have an initial burst of activity spurred on by Black Friday sales promotions, they often stay home during the following week. 

MOORESVILLE, N.C. — Lowe’s announced that it plans to open a new customer support center in Albuquerque, New Mexico. The center is expected to be operational during the first quarter of 2012 and is estimated to create 250 jobs by March and a total of 600 jobs by the end of 2013.

Buffalo, N.Y. -- Lifestyle brand New Era said it has opened its eleventh global flagship store, located in the West Hollywood shopping district of Los Angeles.

The brand’s first West Coast retail space joins current U.S. locations in New York, Chicago and Atlanta. The 3,300-sq.-ft. store will house licensed and New Era branded headwear, apparel and accessories for men, women and kids.

New York City -- J.C. Penney launched a strategic alliance with Martha Stewart Living Omnimedia to create a comprehensive retail experience featuring Martha Stewart products, know-how and advice.