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  • Best Buy shines in Q3 but Samsung recall may dent holiday
    Best Buy Co.’s sales and profits in the third quarter topped forecasts, but the retailer warned that the recall of a Samsung smartphone is likely to impact its holiday sales.   Best Buy’s profit jumped 55% to $194 million, up from $125 million in the same period a year ago. Adjusted for one-time expenses, it earned 62 cents a share, which was higher than the 47 cents analysts were expecting.  

  • Staples brand to disappear from the United Kingdom
    A familiar U.S. retailer will soon make its exit from the U.K. retail scene.    Staples, which operates some 105 stores in the United Kingdom, has agreed to sell its U.K. retail business and operations to Hilco Capital Limited. The use of the Staples brand in the U.K. will be phased out over the coming months.   In May, Staples announced plans to explore strategic alternatives for its European operations as part of its new strategy.  

  • American Apparel gets $30 million DIP facility
    Encina Business Credit, has provided a $30 million debtor-in-possession (DIP) facility to American Apparel, which recently filed for Chapter 11 bankruptcy protection.   

  • Lowe’s disappoints in Q3
    Sales were up in the third quarter, but Lowe’s Companies’ financial performance impressed neither its investors nor its CEO.   The home improvement retailer’s net income dropped dramatically, owing to $462 million non-cash pre-tax charges. Net income declined to $379 million, compared to $736 million in the same quarter last year.  

  • Target surprises in Q3; lifts forecast
    Improving traffic and sales, particularly in the digital channel, helped Target Corp. easily beat third-quarter profit expectations as the discounter raised its year-end outlook.    Target’s profit increased 10.7% to $608 million, or $1.07 cents a share, up from $549 million, or 88 cents a share, in the year-ago period. Adjusted for one-time expenses, it earned $1.04 cents a share, which was better than the 83 cents analysts had expected.  

  • Off-price giant soars in Q3; raises outlook
    The TJX Companies topped earnings and sales forecasts for its third quarter as deal-loving consumers flocked to its stores.   The off-price apparel and home goods retailer reported that net sales for its third quarter, ended Oct. 29, rose 7% to $8.3 billion, on top of a 5% increase last year.    

  • Retail sales surge in October
    In a good omen for the upcoming holiday season, consumers spent more than expected in October, as U.S. sales rose more than expected.        Retail sales increased by 0.9% over September and grew 2.2% on a year-over-year basis, according to the National Retail Federation. The calculations excluded automobiles, gasoline stations and restaurants.  

  • Dick’s Sporting Goods tops Q3 estimates but gives weak guidance
    Dick's Sporting Goods Inc. on Tuesday reported better-than-expected sales and earnings for its fiscal third quarter but tempered its good news with a weak outlook for the fourth quarter.    Dick’s posted net income of $48.9 million for the quarter ended Oct. 31, up from $47.2 million in the year-ago period.   On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.  
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