FINANCE

Chico’s profit soars in Q3

BY Katherine Boccaccio

Fort Myers, Fla. — Chico’s FAS reported Tuesday that net income for the quarter ended Oct. 27 surged 57.4% to $41.7 million, compared with $26.5 million in last year’s third quarter.

Sales increased 18.2% to $636.7 million, and same-store sales grew 9.9%.

By banner, Chico’s/Soma Intimates same-store sales increased 11.6%, and White House|Black Market rose 6.4%.

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OPERATIONS

Survey: Almost half of Cyber Monday shoppers to increase online spend

BY Katherine Boccaccio

Whiting, Ind. — Survey results released Tuesday by CouponCabin.com revealed that that 47% of Cyber Monday shoppers will spend more money online that day than they will in-store the during the rest of the holiday season. The holiday has gone mobile as well. More than one-quarter (29%) of smartphone and tablet owners plan to shop online on Cyber Monday on their devices.

The survey, conducted online nationwide by Harris Interactive, also found that 42% of smartphone owners who plan to shop online on Cyber Monday said they will "showroom" certain products on Black Friday with the intention to buy them on Cyber Monday.

When it comes to how much money they’ll spend on Cyber Monday this year, U.S. adults shared a variety of amounts. When asked how much money they plan to spend on Cyber Monday this year, those who plan to shop said the following:

  • $1-$100 – 39%
  • $101-$500 – 54%
  • $501 – $10,000 – 6%

“Cyber Monday’s popularity has grown year after year,” said Jackie Warrick, president and CEO of CouponCabin.com. “For some people, it’s even eclipsed Black Friday as the top day for saving, likely due to its convenience.”

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FINANCE

DSW reports profit drop in Q3; to open up to 30 stores in 2013

BY Katherine Boccaccio

New York — DSW Inc. reported Tuesday that net income fell 6.6% to $50.1 million, compared with $53.7 million in the same period last year.

Sales increased 11.7% to $592.7 million, compared with last year’s third quarter sales of $530.7 million and beating Wall Street’s expected $548.1 million in revenue.

Same-store sales increased grew 6.3%.

The company said it plans to open 25 to 30 new stores next year.

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