News

New York City -- Saks Fifth Avenue announced the availability of its shopping application for the iPad. The free app, available worldwide from the Apple App Store, is an entirely shoppable app, and customers can create wishlists that can be shared through email, Facebook, and/or Twitter.

New York City -- Mattress retailer Mattress Firm Holding Corp. expects to raise about $100 million in an initial public offering to pay down its debt, the Associated Press reported.

The company is offering 5.6 million shares, and expects them to price from $17 to $19 each. After expenses the company anticipates net proceeds of about $90 million.

Most of the proceeds will go toward repaying $84.4 million in debt outstanding under a loan.

Mattress Firm and its franchisees run 757 stores in 25 states.

PITTSBURGH — Giant Eagle has named Laura Shapira Karet CEO and John Lucot president and COO. Both appointments are effective Jan. 9, 2012. 

Karet, 42, is taking over the position from her father David Shapira, who will assume the position of executive chairman of Giant Eagle's board of directors. Shapira has served as CEO 1980.

SALISBURY, N.C. — Network growth and higher retail inflation prompted growth in both revenues and comparable-store sales for Delhaize America, the U.S. division of Delhaize Group, for the third quarter ended Sept. 30.

Revenues realized a gain of 3.5% to $4.9 billion, compared with the year-ago period, while comparable-store sales jumped 1.9%. Delhaize, however, acknowledged that due to the economic environment and the decrease of consumer confidence, particularly in the southeastern United States, volume trends were down from the previous quarter.

MINNEAPOLIS — Profits at Target grew 10.2% to 82 cents in the third quarter compared with 74 cents the prior year thanks to healthy sales growth and ongoing improvement in the company’s credit card business. 

Atlanta -- Supply chain solution-provider RedPrairie Corp. said Tuesday that The Body Shop has gone live with RedPrairie Execution Management at more than 70 stores in Indonesia.

The cosmetics retailer plans to use the solution to streamline both head office and store processes, as well as promote improved efficiencies for in-store marketing activities including product introductions, planogramming, display setups, customer loyalty, and more.

NEW YORK — Despite a significant decrease in net income, Saks delivered sales growth as it continues to improve its operating performance. Saks Inc. reported net income for the third quarter of $17.8 million, or 11 cents per diluted share, compared with net income of $36.3 million, or 20 cents per diluted share. 

BENTONVILLE, Ark. — Walmart delivered a long awaited same-store sales increase of 1.3% at its U.S. stores division in the third quarter and pointed to ongoing momentum for the holidays with comps guidance in the range of flat to up 2%.