News

Greensboro, N.C. -- The Fresh Market posted weaker than expected sales and earnings for its third quarter. The upscale grocer also reduced its guidance for the year.

For the 13-week quarter ended Oct. 27, net income was up some 1.8%, to $11.1 million.

Net sales grew 13.4%, to $364.5 million. Comparable-store sales increased 3.1%.

Here’s something you may not have heard in a while: Competition from multiple buyers is causing a spike in the price of many shopping centers. This isn’t a minor bubble, either — it has become apparent to me that the extremely competitive nature of the current market has led to some dramatic overpricing. From my perspective, many of the price tags on power centers and grocery-anchored neighborhood centers (and, to a lesser extent, traditional malls and unanchored strip centers) are getting out of touch with reality.

Kirkland’s plans to continue investing in its e-commerce business and anticipates executing a more aggressive approach to store growth, following strong third-quarter results.

The company reported net sales for the third quarter ended Nov. 2 of $106.1 million, a 9.8% increase from $96.7 million for the year-ago quarter. Comparable-store sales, including e-commerce sales, for the quarter increased 4.9% compared with a decrease of 4.7% in the year-ago quarter.

Seattle – The Second Circuit U.S. Court of Appeals in New York has reportedly ruled that Starbucks baristas must share their tips with supervisors. According to the Associated Press, the ruling supports a lower court finding that baristas at Starbucks must share tips with shift supervisors, since the supervisors do much of the same work as the baristas.

Leading global beauty company Coty has announced that OPI founder and CEO George Schaeffer plans to retire. Schaeffer will continue to work with OPI's management team through a newly created role as OPI's strategic board adviser.

Schaeffer founded OPI in 1981 and has grown the brand’s portfolio of shades to more than 400. After more than 30 years of leading OPI, Schaeffer will focus on the Schaeffer Family Foundation and multiple charities that support health-related causes and children's education.

Harley-Davidson is looking to drive holiday sales by leveraging the power of Pinterest to promote its new online holiday gift guide.

Raleigh, N.C. – Thanksgiving holiday sales are not getting much social promotion this year from retailers. According to an analysis of 494 brand posts from eight retailers by social software company Expion, only 10 focused on Thanksgiving holiday sales (Thanksgiving Day, Black Friday, Cyber Monday), or just 2% of all brand posts, and only five of the eight retailers posted about holiday sales.

Bucking a retail industry trend this year, Sam’s Club won’t be open on Thanksgiving Day and on Black Friday it won’t open until 7 a.m. Instead, Sam’s is throwing some new promotional wrinkles at members and non-members including, “Sam’s Sunday,” event to drive sales.