News

Washington, D.C. -- Up to 140 million people plan to or will shop over this Thanksgiving weekend (Thursday, Friday, Saturday and Sunday), a slight decrease from the 147 million who planned to do so last year. According to a new survey from the National Retail Federation (NRF), Black Friday will be the biggest day of the weekend: 69.1% plan to shop on Black Friday, or approximately 97 million shoppers.

Seattle – Nordstrom reported declining net earnings during the third quarter of fiscal 2013 despite an increase in net sales. Net earnings totaled $137 million, down 7.5% from $146 million in the same quarter a year earlier.

Plymouth, Minn. -- The Tile Shop says it rejects a report stating its historical financial statements may require restatement along with other accounting irregularities. The company denies these allegations and believes that the financial statements are properly stated and its business practices are appropriate.

Destination Maternity Corp. is showing off a new superstore prototype, in Virginia Beach,Va. The 5,000-sq.-ft. store has a "discovery" or open floor plan that offers customers different paths to explore the space. Larger graphics, new fixtures and tables and enhanced fitting rooms  create a modern, inviting environment.  Merchandise is displayed in lifestyle zones, with elevated presentations of categories. There are also new mannequins, and more of them.

Bentonville, Ark. -- Walmart and the Walmart Foundation are committing $1 million to the Red Cross and Save the Children for emergency relief efforts in response to needs created by Typhoon Haiyan in the Philippines. The donation includes funds given by the Walmart Foundation and Walmart's international operations.

Houston – Susser has signed a definitive agreement to acquire substantially all of the convenience store assets and fuel distribution contracts of Sac-N-Pac Stores, Inc. and 3W Warren Fuels, Ltd.

New York -- Transportation logistics services provider XPO Logistics has acquired Optima Service Solutions, a non-asset provider of last-mile logistics services for major retailers and manufacturers in the United States.

The cash purchase price was $26.6 million, excluding any working capital adjustments, with no assumption of debt.

Houston – Jos. A. Bank has officially withdrawn its all-cash bid to purchase Men’s Wearhouse for $48 per share, or about $2.3 billion, after failing to get the retailer to enter into merger talks ahead of a Thursday deadline.

Robert N. Wildrick, chairman of the board of Jos. A. Bank, sent a letter to Men’s Wearhouse CEO Doug Ewert informing him that since Men’s Wearhouse had not engaged in good faith negotiations by a previously stated Nov. 14 deadline, Jos. A. Bank would terminate its proposal.

Walmart said sales of its Global eCommerce business unit grew by 40% during the third quarter as it increased investments, expanded assortments and included results from a Chinese acquisition.

Sam’s Club was Walmart’s best performing division during the third quarter and holiday plans outlined by president and CEO Rosalind Brewer suggest that could be the case in the fourth quarter as well.

Same store sales at Sam’s increased 1.1% and total sales increased 2.1% to $12.4 billion a while with traffic was up among both business and individual members. Operating profit increased 9.2% to $474 million.