News

New York -- DSW Inc. reported Tuesday that net income fell 6.6% to $50.1 million, compared with $53.7 million in the same period last year.

Sales increased 11.7% to $592.7 million, compared with last year's third quarter sales of $530.7 million and beating Wall Street’s expected $548.1 million in revenue.

Same-store sales increased grew 6.3%.

The company said it plans to open 25 to 30 new stores next year.

Tommy Bahama has dropped anchor in Manhattan, opening a 13,000-sq.-ft. flagship on Fifth Avenue. It’s the island-inspired brand’s first store in the Big Apple, and also its biggest location to date, with 5,000 sq. ft. of retail, along with a 1,300-sq.-ft. bar on the first floor, and 6,700-sq.-ft. restaurant on the second floor.

WILMINGTON, Del. — The retail industry is awash with forecasts and projections during the holidays, but a near real-time indicator from Chase reveals how shoppers are actually behaving.

NORWICH, N.Y. — Chobani founder Hamdi Ulukaya has won the Ernst & Young National Entrepreneur of the Year 2012 Retail and Consumer Products Award. Ulukaya was also awarded the Ernst & Young National Entrepreneur of the Year 2012 Overall Award.

The Ernst & Young Entrepreneur of the Year Award encourages entrepreneurial activity and recognizes leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.

GAINESVILLE, Fla. — Universal gift registry MonkeyWish.com has added Target and Walmart to its growing list of retail affiliate partnerships, which now tops 100. The gift registry also has partnerships with Best Buy, Lord & Taylor, Nordstrom, Kohl's and Amazon.

The gift registry allows users to create free personalized wish lists and provides users access to products from retailers with which it is partnered.

HUDSON, Ohio — Jo-Ann Fabric and Craft Stores has launched a mobile-optimized version of Joann.com, m.joann.com, to facilitate shopping for smartphone users just in time for the holiday shopping season.

Positive same-store sales in 12 of 14 merchandise categories at Lowe’s pushed third-quarter profits up 76%.

Lowe's reported third-quarter net income of $396 million, up 76% from earnings of $225 million a year ago on revenues that increased 2% to $12.07 billion, ahead of consensus estimates of $11.93 billion. Same-store sales increased 1.8%.

Lowe’s president and CEO Robert Niblock called the results solid and said the company is focused on improving execution, delivering value and increasing product differentiation.

PALO ALTO, Calif. — Sony Stores have joined shopkick, a real-world shopping app, to offer “kicks,” shopkick’s proprietary reward currency, to shoppers for visiting stores, browsing lookbooks or interacting with products.

NEW YORK — The late Russ Berrie, former CEO and chairman of Russ Berrie & Company, and Judy Ellis, founder of the nation’s first baccalaureate program in toy design, are the newest inductees to the Toy Industry Hall of Fame.

Established in 1984, the Hall of Fame comprises 59 individuals who have been previously recognized for their significant contributions to the growth and success of the toy industry. Berrie and Ellis were nominated from within the toy industry and selected by a vote of TIA members and previous Hall of Fame honorees.

WEST LONG BRANCH, N.J. — Sleep Innovations, designer and manufacturer of memory foam products, has been acquired by an affiliate of Sun Capital Partners. The private investment firm specializes in leveraged buyouts and investments in market-leading companies.