News

BRENTWOOD, Tenn. — Tractor Supply Company reported that net sales for the third quarter increased 9% to $1.07 billion from $977.8 million in the prior year's third quarter. Same-store sales increased 2.9% compared with a very strong 11.5% increase in the prior-year period.  The same-store sales increase was driven primarily by continued strong results in key consumable, usable and edible products, principally animal- and pet-related merchandise.

New York -- Multiple reports on Monday suggested that private equity firm Cerberus Capital Management, which owns the struggling Albertsons LLC, may be putting together a deal to buy all or part of the grocery chain.

Cerberus is said to be seeking $4 billion to $5 billion in debt financing from banks to back a bid and is looking at investing $800 to $900 in equity in its takeover quest, a person familiar with the matter is reported to have said. That same source cautioned that the figures could change.

NEW YORK — Joel Lamp, senior associate general counsel for global e-commerce at Walmart, will deliver the keynote address at the 10th Annual General Counsel Conference West Coast on Oct. 30 to 31 at the Grand Hyatt Hotel in San Francisco. The event is hosted each year by American Lawyer Media's Corporate Counsel magazine.

Lamp is expectd to speak aboout Walmart's e-commerce initiatives and its effect on the traditional retail store, as well as a discussion of important privacy, security and compliance requirements.

DALLAS — The Network of Executive Women, Consumer Products and Retail Industry has elected Chicago-area resident Catherine Linder, former VP retail marketing for Walgreens, to serve as board chair. Lindner was elected at the Network's annual members meeting at the NEW Leadership Summit on Oct. 22 in Dallas.

Annie Zipfel, division VP customer marketing for Kent, Washington-based REI, was elected board vice chair. Zipfel most recently served as the Network’s chair, marketing and communications.

Dallas -- A survey released Tuesday by Chase Paymentech, a subsidiary of JPMorgan Chase & Co., found that online companies are expecting the 2012 holiday shopping season to be better than last year.

According to the Chase Paymentech eHoliday Shopping Monitor, 59% of e-commerce companies surveyed expect better sales volume this season than in 2011, while almost half (47%) expect it to be better than pre-recession levels in 2007.

PLANO, Texas — JCPenny is offering customers a free family photo throughout the month of November.

Located in approximately 530 jcpenney stores, JCP portraits studios' free offer includes sitting fees, a traditional printed 8x10 portrait as well as a digital copy of the same pose to share with friends and family. In addition, at the time of their sitting, customers may select and order 36 or more 4x7 greeting cards featuring their new photo at a low price of 50 cents per card during the month of November.

Miami Beach, Fla.-based Savitar Realty Advisors has nearly completed its transformation of the legendary Lincoln Theatre in the heart of South Beach from a historic movie theater and symphony hall into a 35,000-sq.-ft. mixed-use building located on the pedestrian promenade known as the Lincoln Road Mall.

The modern retail establishment scheduled to open in November will house H&M’s 30,000-sq.-ft. flagship store as well as a number of other smaller tenants including Swatch, Sabon, 4D Gelato and 100 Montaditos, a Spanish tapas and sandwich style restaurant.