News

FORT WORTH, Texas — RadioShack reported that total sales for its third quarter were $1 billion, compared with $1.03 billion last year. Comparable-store sales were down 1.6%.

The retailer reported a net loss of $47 million, or 47 cents per diluted share, compared with net income of $0.3 million last year.

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.

MINNEAPOLIS — Target will no longer have to worry about the impact of its consumer credit card portfolio on its financial performance, now that it has agreed to sell the business to TD Bank Group.

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.

BENTONVILLE, Ark. — Sam's Club, via its Simply Right wellness brand, has donated $500,000 to Vitamin Angels, a non-profit organization dedicated to increasing availability, access and use of micronutrients among at-risk populations in need. The monetary donation will help Vitamin Angels expand their efforts to reach at-risk children age five and under with vitamin A and daily multivitamins and pregnant or breastfeeding women with prenatal vitamins around the world and domestically.

New York -- Coach Inc. reported Tuesday that profit for the quarter ended Sept. 29 rose 3% to $221.4 million, compared with $215 million for the same period last year and beating Wall Street expectations.

Sales surged 11% to $1.16 billion, in line with forecasts, and same-store sales in North America rose 11%, bolstering the luxury retailer’s results for the quarter. In China, same-store sales also rose by double-digits.

PARK CITY, UTAH — Park City Group, a provider of consumer goods supply chain technology designed to increase sales and reduce out-of-stocks, has announced the addition of food industry insiders Austin Noll, Jr. and Richard Juliano to the company’s board of directors. Peter Brennan, who has served on the board since 2009, has announced his retirement from the board for personal reasons. All moves are effective immediately.

Fort Worth, Texas -- RadioShack Corp. reported Tuesday a wider-than-expected loss of $47 million for the quarter ended Sept. 30, compared with a profit of $300,000 for the same period last year. Sales dropped from $1.03 billion to $1.0 billion and same-store sales dropped 1.6%.