Retail Stores
Though there are already plenty of great deals on everything from e-readers and smartphones to apparel and toys, Americans know there's only one Black Friday โ and the best is yet to come.
Williams-Sonoma reported that profit for the third quarter rose 19 percent to $43.4 million from $36.5 million in the same period last year. Revenue rose 6 percent to $867.2 million, compared with $815.5 million last year, solidly beating Wall Streetโs expected $855.7 million in revenue.
Self-Service Networks is deploying 100 of its GiftWise kiosks in 100 malls owned by General Growth Properties. The gift card-vending solutions will be up just in time for the properties' 2011 holiday shopping season.
"Jersey Shore" star Snooki took over HSN last night with a live two-hour television event and it would be an understatement to call it a success. The MTV reality star was clearly humbled by the response to her new handbag line, perfume and crocodilly stuffed animal.
How will holiday shoppers find the best prices or the most unique gifts? Will they flip through a circular, find it online, through email, or browse store floors? As the holiday shopping season kicks into gear, companies that demonstrate an understanding of customersโ preferences are likely to pique more interest.
Green Mountain Coffee Roasters saw fourth-quarter profit nearly triple as sales rose 91 percent. The maker of Keurig single-cup brewers said it earned $75.4 million, or 47ยข a share, for the quarter that ended Sept. 24, up from $27 million, or 20ยข per share, a year earlier.
Led by discretionary purchases, October retail sales saw impressive growth across the board, an encouraging sign for retailers as the holiday season gets underway. According to the National Retail Federation, retail sales increased 0.7 percent from September and 4.7 percent over last October.
Lowe's reported that net income for the quarter ended Oct. 28 dropped 44 percent as store-closing charges undercut a slight uptick in quarterly sales. The retailer reported net earnings of $225 million, compared with $404 million in the year-ago period.
Christopher & Banks, Syms and Filene's Basement are the most recent retailers to shutter some of their stores, bringing the total number of store closings so far in 2011 to 3,126.
Crocs will open its doors to three new concept stores this week. The new shops are designed to drive a holistic, engaging approach to the Crocs retail experience. They are located in three busy shopping destinations: Mall of America in Bloomington, MN.; Barton Creek in Austin, TX.; and Streets at Southpoint in Durham, N.C.