News

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.

MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

WILLIAMSVILLE, N.Y. — Regional supermarket chain Tops Markets reported a 3.6% increase in net sales for the period ended Oct. 8.

Third-quarter net sales rose $18.7 million to $538.6 million, the retailer said. Supermarket sales (excluding gasoline sales) totaled $491 million, up $7.5 million, or 1.5%, compared with the year-ago period.

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.

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

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%.

The holiday season is about to get underway with what is expected to be the single greatest spending orgy in the history of commerce with more than $20 billion spent on Black Friday compared with $19.3 billion last year, according to MasterCard Advisors SpendingPulse.

Shipments of digital signage displays to the retail sector are expected to triple by 2013, according to market research firm iSuppli Corp. That’s encouraging news in an industry that faces an uncertain holiday buying season.