News

Columbus, Ohio -- Big Lots reported that U.S. comparable-store sales for the fiscal third quarter ended Oct. 29 rose 1.7%. Total sales for the period rose 6% to $1.1 billion, from $1.04 billion.

Montvale, N.J. -- The Great Atlantic & Pacific Tea Co. said Friday that it has secured a $490 million financing package from Ron Burkle’s Yucaipa Cos., Mount Kellett Capital Management and investment funds managed by Goldman Sachs.

The combination debt and equity financing, which is subject to court approval, will allow the grocer to emerge from Chapter 11 bankruptcy protection early in 2012.

DALLAS — The Army & Air Force Exchange Service announced that it is offering several Black Friday deals for military members and their families.

Among the deals being offered are Sony 55" LCD TVs for just $899, HP Pavilion G6 Notebooks for $279, 50% off regularly priced ladies apparel from Izod, Calvin Klein, Michael Kors and others as well as an Xbox 360 4GB gaming systems with built-in Wi-Fi console for just $99. Additionally, all Coach handbags (both in-store and online at shopmyexchange.com) will be 25%off from 5:00 p.m. to 7:00 p.m.

It’s working. That was the message Walmart EVP merchandising Duncan Mac Naughton shared this week with those who attended several events in which Walmart’s head merchant offered his perspective on the back-to-basics operational and merchandising philosophy on which the company’s U.S. strategy is once again dependant.

Nashville, Tenn. -- Kirkland's Inc. raised its third-quarter earnings outlook Thursday after total revenue rose because of store expansion.

Total revenue rose 4.7% to $97.1 million in the August-to-October period. Same-store sales fell 3.6%.

The home-decor store said it now expects earnings of 3 cents to 5 cents per share, up from its previous prediction of a quarterly loss.

Columbus, Ohio -- Limited Brands, parent to Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, said Thursday it will buy back up to $250 million of its shares.

The new share repurchase program follows the completion of a $500 million share repurchase program. So far this year, Limited has repurchased $1.1 billion worth of its stock.
 

LOS ANGELES — Food 4 Less and Ralphs Grocery announced that they are inviting customers to help support local food banks and families in need through a special fund-raising campaign that kicks off Nov. 6. In addition, Food 4 Less' Foods Co Division is also collecting donations for food banks in Central and Northern California.

SALISBURY, N.C. — Food Lion announced that this year's fundraising campaign to benefit Children's Miracle Network Hospitals totaled $4.2 million.

This year's donation represents a 43% increase over last year, Food Lion said. The supermarket chain, which has supported CMN Hospitals since 1991, has raised more than $40 million for the organization.