News

WAYNE, N.J. — Toys“R”Us announced that it has established business operations in Poland and plans to open its first store in the country at the end of November. The first Toys“R”Us store in Poland will open in the country’s capital city of Warsaw just in time for the holiday shopping season, with several additional locations slated to open in major cities throughout the country in 2012, the company reported.

Minneapolis -- Best Buy Co. announced Tuesday that it will waive the minimum purchase limitations and offer free shipping on its complete inventory of 400,000 website items from Nov. 1 through Dec. 27.

"Consumers are looking for value, service and savings this year, and our goal is to provide them with convenient, creative and less costly ways to make the holiday shopping experience more enjoyable," said Barry Judge, executive VP and CMO, in a statement.

New York City -- The U.S. retail industry will perform in line with sluggish U.S. GDP growth through 2012 as persistent unemployment, stock market volatility and economic gloom weigh on consumer confidence and spending, according to a new report by Moody's Investors Service.
 

Austin, Texas -- Retail credit solution-provider NewComLink said Tuesday that Zale Corp. has implemented the NewComLink platform as part of its new program to provide alternative financing options to its U.S. customers.

Zale announced the new alternative financing program on Aug. 31, which is currently available in all Zales, Zales Outlet and Gordon’s retail stores.

NEW YORK — Macy's announced that this week it will debut the new Giambattista Valli collection, the fourth in the retailer's series of limited-edition, designer capsules created exclusively for its Impulse department. 

Valli's first-ever collaboration will bring ultra-feminine, jet-set style to the affordable fashion arena for the holiday season, Macy's said. Giambattista Valli for Impulse only at Macy's" will be sold in approximately 225 Macy's stores nationwide and on macys.com/impulse beginning Oct. 26.

BOCA RATON, Fla. — Office Depot delivered higher profits for its third quarter, but sales were down thanks in part to weak comps at its North American retail division. Office Depot reported that total company sales for the third quarter of 2011 were $2.8 billion, a 2% decrease compared with the third quarter of 2010. Net earnings for the quarter were $92 million, or 28 cents per diluted share, compared with $32 million or 12 cents per diluted share for the same period last year.

Boca Raton, Fla. -- Office Depot's fiscal third-quarter net income more than doubled, but its adjusted results missed analysts’ expectations amid sales declines in North America.

The company earned $91.7 million for the period ended Sept. 24, compared with $32 million a year earlier. But excluding $6 million in restructuring charges and other costs and a $99 million tax benefit, the company lost about $700,000, or break-even per share.

WASHINGTON — The National Retail Federation announced that it has asked the Commerce Department to delay implementation of a controversial plan to vastly expand Internet domain names, saying retailers and other businesses need more information before moving forward.