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Retail Sales Growing As Holiday Season Begins

Retail sales grew again in October as consumers set aside concerns about inflation and many got a jump start on the holiday season, the National Retail Federation said. The U.S. Census Bureau said overall retail sales in October were up 1.3 percent from September and up 8.3 percent year over year.

Foot Locker Raises Guidance As Third Quarter Exceeds Plan

Foot Locker, Inc. slightly lifted its outlook for the year after reporting third-quarter sales and earnings came in above expectations. Comparable-store sales in the third quarter increased 0.8 percent year-over-year. Mary Dillon, president and chief executive officer.  “Despite the tough environment, our expanding customer base remained resilient.”

Athleta Sees Flat Comps In Third Quarter

Gap, Inc. reported comparable sales at Athleta were flat in the third quarter. Net sales of $340 million were up 6 percent compared to last year.

Foot Locker Opens Distribution Center In Reno

Foot Locker, Inc. opened a new distribution center in Reno, NV. The more than $40 million, 465,000-square-foot facility will support the company’s distribution of more than 20 million units and support over 300 stores on the West Coast. The facility will also cut shipping times in the region “by more than 50 percent.”

Macy’s Raises Earnings Forecast On Q3 Beat

Macy’s Inc. reported third-quarter results topped analysts’ estimates and boosted its guidance for the year. Jeff Gennette, chairman and CEO, said, “As a leading gifting destination with fresh inventory across the value spectrum, we are ready to meet our customers’ needs this holiday season.”

Kohl’s Q3 Profits Tumble

Kohl’s, Inc. reported earnings fell 60 percent in the third quarter on a 7 percent sale decline. Results were in line with the recent release of preliminary results.

Rawlings To Relocate Headquarters

Rawlings Sporting Goods Company, Inc. is moving from its current corporate headquarters located in Town & Country, MO, to Westport Plaza in Maryland Heights, MO, in late 2023. The company said it needed the additional office space and wanted to create a corporate campus, including an experiential retail destination. 

Target’s Shares Tumble On Soft Holiday Outlook

Shares of Target fell $23.51, or 13.1 percent, to $155.47 Wednesday after the chain reported third-quarter profits plunged 52 percent and warned of a sluggish holiday, blaming inflationary pressures and a deteriorating economic outlook.

Boardriders Lays Off 170 Employees

Boardriders, which is undergoing a sales process, eliminated 170 jobs in a cost-cutting move, according to Shop-Eat-Surf.

Fanatics Partners With UK’s Next

Fanatics and Next, the UK-based online retailer, entered into a long-term connected inventory partnership to broaden Fanatics’ officially-licensed sports merchandise assortment sold at Next.co.uk.