News

Chesapeake, Va. -- Dollar Tree said Thursday that net income for the quarter ended Oct. 30 rose 37% to $93.2 million, from $68.2 million in the year-ago period.

Consolidated net sales for the third quarter were $1.43 billion, a 14.2% increase from $1.25 billion a year earlier. Same-store sales increased 8.7%.

During the third quarter, Dollar Tree opened 86 stores, expanded or relocated 27 stores, and closed two stores. The company currently operates 4,009 stores in 48 states.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its loss for the quarter ended Oct. 31 widened to $218 million, compared with a loss of $127 million in the year-ago period. The loss was more than analysts expected as margins fell and sales dropped, especially at the company's namesake stores.

"While Kmart improved profitability, our third-quarter results were disappointing, in large part due to lower sales of apparel and appliances at Sears," said interim CEO W. Bruce Johnson.

Bentonville, Ark. -- Wal-Mart Stores said Thursday it will open its first four stores in Washington, D.C., as part of the retailer’s effort to increase its urban expansion stride.

Wal-Mart said it plans to open the smaller-format urban stores in Washington, D.C. in late 2012, and said it has met little resistance from the area. The retailer said its poll of 800 locals found nearly three-quarters of Washingtonians favored Wal-Mart coming to the city.

Jacksonville, Fla. -- Stein Mart reported Thursday that net income for the quarter ended Oct. 30 was $4.3 million, compared with net income of $3.2 million a year earlier.

Net sales were $267.9 million, a decrease of 0.9% from $270.2 million in 2009. Same-store sales increased 0.3% for the quarter.

Secaucus, N.J. -- The Children's Place Retail Stores reported Thursday that net income for the third quarter dropped to $31.2 million, compared with net income of $38.2 million in the prior year.

Net sales declined 2.1% to $453.4 million, compared with $463.2 million in the third quarter of fiscal 2009.

Same-store sales decreased 5.7%.

Closing the lid on a local Jack in the Box

Near my Baton Rouge, La., neighborhood is a Jack in the Box fast-food restaurant that, from all cursory indications, had appeared to be surviving the recession.