News

BIRMINGHAM, Ala. — Books-A-Million has announced that it will open 41 new BAM! stores in markets across the U.S. in early November. The company has also closed 21 underperforming locations during its third quarter. 

New York City -- The U.S. retail industry will perform in line with sluggish U.S. GDP growth through 2012 as persistent unemployment, stock market volatility and economic gloom weigh on consumer confidence and spending, according to a new report by Moody's Investors Service.
 

NEW YORK — Macy’s is positioning itself as a leader in fashion, beauty, home and lifestyle news and trends with launch of mBLOG at macys.com/mblog. According to the company, the website will include tips from Macy's staff as well as experts from such sites as Fashionista.com and FoodRepublic.com. 

SEATTLE — The popularity of Amazon.com's Kindle e-readers continues to help boost Amazon.com's sales. However, net income for the third quarter was disappointing.

Amazon.com reported that net sales for the third quarter increased 44% to $10.88 billion in the third quarter, compared with $7.56 billion in third quarter 2010. Net income decreased 73% to $63 million in the third quarter, or 14 cents per diluted share, compared with net income of $231 million, or 51 cents per diluted share, in third quarter 2010.

St. Louis -- Brown Shoe Co. said Wednesday it has finalized the sale of its And 1 men’s performance and lifestyle brand to Galaxy International for $55 million.

The And 1 brand was part of the $145 million American Sporting Goods acquisition that Brown completed last February in a move to expand its reach into the fitness category.

Brown Shoe said it plans to use the proceeds from the sale of And 1 to pay down debt.

WASHINGTON — The National Retail Federation said it welcomed a proposal unveiled by House Ways and Means Committee Chairman Dave Camp, R-Mich., to reform the nation’s corporate tax structure.

Fort Worth, Texas -- RadioShack Corp. reported Tuesday that profit for the quarter ended Sept. 30 plummeted to $300,000, compared with earnings of $46 million in the year-ago period. The retailer cited the transition from T-Mobile offerings to Verizon Wireless as a major reason for the performance decline, although that was offset somewhat by new mobile service and sales centers in Target stores. The company launched Verizon Wireless in more than 4,400 stores on Sept. 15, as well as ramped up its Target Mobile centers rollout in the same period.

EL SEGUNDO, Calif. — Big 5 Sporting Goods announced that it has appointed Dominic DeMarco to serve on its board of directors, thereby expanding the board to seven members. DeMarco is director, co-chief investment officer and chief compliance officer for Stadium Capital Management LLC, an investment advisory firm whose affiliated funds have been shareholders of Big 5 since 2006 and taken together are the company's largest current shareholder.