FINANCE

Gymboree profit, comps dip in Q3

BY Katherine Boccaccio

San Francisco — The Gymboree Corp. reported Wednesday that net income for the quarter ended Oct. 27 fell 22.6% to $46.9 million from $60.6 million in the year-ago period.

Sales edged up 2.8% to $311.5 million, but same-store sales dipped 4% in the quarter.

During fiscal 2012, the company said it maintains its plans to open approximately 124 new stores, including 98 Crazy 8 stores.

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News

QVC to acquire Oodle to fuel social commerce

BY Staff Writer

West Chester, Pa. — QVC announced that its wholly owned subsidiary, California Voices, has signed a definitive agreement to acquire Oodle, a social commerce leader that runs the Oodle Marketplace application on Facebook. The acquisition is expected to close by Dec. 31.

"The QVC shopping experience is fundamentally social in nature," said Claire Watts, QVC U.S. CEO. "With this acquisition, we can fuel our evolving social commerce experience. Oodle brings a great team that shares our values and passion for creating a rich customer experience."

Oodle is a social marketplace where users buy, sell, and give with friends, friends of friends, neighbors, co-workers, and other people in their local community. Oodle’s Marketplace, which has over 11 million unique monthly users, is available on Oodle, Facebook, and iPhone, iPad, iTouch, and Android devices.

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REAL ESTATE

Sherwin-Williams opens 3,500th retail store

BY Staff Writer

Cleveland — Sherwin-Williams Paint Stores Group announced Wednesday it has opened its 3,500th retail location in total and its 70th in 2012.

The newest store is 4,000 sq. ft. and located in Rancho Santa Margarita (Orange County), Calif.

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