News

Memphis, Tenn. -- Discounter Fred's Inc. reported Tuesday that profit for the third quarter rose 16% to $9 million, compared with $7.8 million a year earlier.

Revenue increased 2% to $444.4 million from $435 million last year, missing Wall Street’s expected $446.5 million in revenue.

Same-store sales rose 1.5%.

By Alan Brill, Kroll

From headline-grabbing breach events to ongoing trends in information theft, the following industry events tell us a lot about the cyber security threats affecting the retail space this holiday season. Here is some light on how you can keep history from repeating itself.
 
Third-party breaches
Best practices in third party due diligence include:

Topeka, Kan. -- Collective Brands Inc., parent of Payless ShoeSource, reported Monday that it swung to a loss of $114.3 million in the quarter ended Oct. 29, compared with a profit of $47.6 million in the year-ago period. Excluding a tax-related charge, the retailer would have gained $37.1 million in the quarter.

Fort Myers, Fla. -- Chico's FAS reported Tuesday that net income for the quarter ended Oct. 29 fell to $26.5 million, compared with $28.8 million a year earlier. Results include costs associated with the company’s acquisition of Boston Proper.

Net sales for the quarter increased 11.5% to $538.5 million, from $483 million. Same-store sales increased 3.7%. By brand, Chico's/Soma Intimates same-store sales increased 0.6

Columbus, Ohio -- DSW Inc. reported Tuesday that net income increased to $53.7 million in the third quarter, up from $35.5 million a year earlier.

Sales rose 8.5% to $530.7 million, from $489.3 million. Same-store sales increased 5.2%.

The shoe retailer cited strong boot sales for the performance surge. “We are confident in our strategies and continue to expect fiscal 2011 to represent a strong year of growth, and as a result we have increased our annual guidance," said Mike MacDonald president and CEO.
 

Savannah, Ga. -- Citi Trends reported Tuesday a loss of $6.8 million in the third quarter, compared with a loss of $0.4 million a year earlier.

Sales increased 2.2% to $143.1 million, from $140 million. Same-store sales decreased 9.3%.

The company opened 26 stores, relocated or expanded four others and closed one store in the third quarter.
 

St. Louis -- Brown Shoe Co. said Monday that while profit rose dramatically in the third quarter thanks to a business unit divestiture, the retailer will cut several of its lines and close underperforming stores nationwide to shore up profitability.

LOS ANGELES — American Apparel announced that Tom Casey has resigned as acting president of the company. Casey was appointed in October 2010 to work with Dov Charney and key investors to validate the company’s strategy, improve operating disciplines and optimize the capital structure, the company reported.

LOS ANGELES — American Apparel announced that Tom Casey has resigned as acting president of the company. Casey was appointed in October 2010 to work with Dov Charney and key investors to validate the company’s strategy, improve operating disciplines and optimize the capital structure, the company reported.

WAYNE, N.J. — Toys“R”Us announced that it has expanded its mobile offerings for the holiday season, providing an enhanced shopping experience for on-the-go shoppers.

In addition, the retailer said it has made updates made to its iPhone and Android experience, as well as announced partnerships with eBay, Google and shopkick to help customers use their mobile devices to locate product, pay for purchases and source discounts.