News

ABILENE, Kan. - Duckwall-ALCO Stores reported that net sales from continuing operations for the third quarter of fiscal 2011 decreased 0.6% to $110.5 million and same-store sales decreased 2.3%.

Net loss for the third quarter was $2 million, or 53 cents per diluted share, compared with net loss of $1.4 million, or 38 cents per diluted share, for the third quarter of fiscal 2010.

New York City -- A survey released Friday by America’s Research Group found that after the Thanksgiving shopping weekend, just 17% of shoppers were paying with credit, representing about half of last year’s level and the lowest rate in the 27 years that the firm has conducted the survey.

“The consumer really feels a lot of pressure from previous debts, and they just aren’t going to dig themselves into that kind of hole,” said Britt Beemer, CEO, of America’s Research Group.

Chelmsford, Mass. -- Kronos announced the December release of the Kronos Retail Labor Index, analyzing the relationship between the demand and supply sides of the labor market within the U.S. retail sector.

The December report, which includes data for November 2010, showed that the Index increased significantly to 3.8%, a 28% increase over last month’s figure of 3.0%.  (A level of 3.0% means that for every 100 applications received, three hirings occurred.)

Dallas -- Neiman Marcus Group reported Thursday that profit for the quarter ended Oct. 30 tripled to $25.7 million, compared with $8.5 million in the year-ago period. The retailer cited more full-price selling, higher customer traffic and lower costs for the strong performance.

The operator of its namesake and Bergdorf Goodman stores saw sales rise 6.7% to $927 million. Same-store sales increased 6.4% following a 14% plunge a year ago.

Vancouver, British Columbia -- Yoga apparel retailer and manufacturer Lululemon athletica reported Thursday that net income for the quarter ended Oct. 31 rose to $25.7 million, compared with $14.1 million in the year-ago period.

Net revenue surged 56% to $175.8 million, from $112.9 million. Same-store sales increased 29%.

The company operates 134 stores in North America and Australia.

Abilene, Kan. -- Duckwall-Alco Stores reported Friday that its loss for the quarter ended Oct. 31 widened from $1.4 million to $2 million.

The small-town retailer also reported that revenue dropped 0.6% to $110.5 million. Same-store sales decreased 2.3%, which was an improvement over the second-quarter same-store sales drop of 7.2%.

Montvale, N.J. -- A report Friday said that Great Atlantic & Pacific Tea Co. may file for bankruptcy in the coming days to restructure debt.

Citing unnamed sources, Bloomberg reported that a filing to reorganize under court protection may come as soon as this weekend. A&P hired law firm Kirkland & Ellis LLP to represent it in negotiations with creditors and in any Chapter 11 proceeding, according to the report.

Smyrna, Ga. -- Westchester, Ill.-based Tri-Land Properties announced that it has received zoning and financing approval for The Crossings at Four Corners in Smyrna, Ga. Tri-Land has sold eight acres of the project to Cincinnati, Ohio-based Kroger Co.

Cole Taylor, a Chicago based lender, is providing the construction financing for the project.