News

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.

CHICAGO — Heading into Black Friday weekend, retailers would be wise to make sure their shelves are fully stocked. According to a study by Harris Interactive on behalf of Galleria Retail Technology Solutions, a provider of retail and category optimization solutions, nearly 70% of U.S. adults would avoid shopping at a retail store if they encountered empty shelves.

BIRMINGHAM, Ala. — Healthy growth in both sales and earnings at Hibbett Sports during the third quarter indicate that sports-related merchandise remains in demand despite an overall weak economic market.

EL SEGUNDO, Calif. — Mattel has announced that Robert A. Eckert, 57, will retire as CEO, after 11 years with the company, effective Dec. 31. The board of directors has named Bryan G. Stockton, 58, who has held the position of chief operating officer for the last year, to succeed Eckert as CEO, effective Jan. 1, 2012. Eckert has agreed to continue in his role as chairman of the board, and the board has elected Stockton as a member of the board, effective January 1, 2012.

You’ve seen her in television commercials, that blonde-haired wacky lady dressed in red whose passion for shopping at Target knows no bounds. Advertising Age’s Natalie Zmuda interviewed the “Christmas Champ” recently to get her thoughts on off-season preparation and Black Friday strategy. Read the article here. 

Gritty and dry are not words normally associated with a delicious chocolate chip cookie, but that is how Consumer Reports described most of the cookies tested in its December issue, including Target’s Market Pantry and Archer Farm’s brands.