FINANCE

Gymboree Sales Up in 3Q

BY CSA STAFF

San Francisco The Gymboree Corp. reported third-quarter earnings of $30.9 million compared to earnings of $26.9 million for the same period of the prior year.

Net sales from retail operations for the fiscal quarter ended November 1, 2008, totaled $261.3 million, a 6% increase over the $247.6 million in net sales from retail operations for the third fiscal quarter of the prior year. The company previously reported that its same-store sales decreased 2% over the same period last year. Total net sales for the third fiscal quarter were $264.1 million, compared to total net sales of $250.7 million for the same fiscal quarter last year.

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Bath & Body Works exec joins Timex board

BY CSA STAFF

MIDDLEBURY, Conn. Timex Group B.V. announced that Camille McDonald, Bath & Body Works’ president of brand development and merchandising, and a 30-year veteran of the beauty industry, has joined the company’s board of directors.

“Camille McDonald is a prolific and multidimensional leader whose competencies and experience encompass product and brand development, sales, integrated marketing functions and general management—in both broad-based and luxury segments—for wholesale as well as retail businesses,” said Anette Olsen, chairman of Timex Group. “We are excited to welcome her to the Timex Group board of directors.”

Since joining Bath & Body Works in August 2004 as evp of brand development and merchandising, McDonald has worked with cross-functional teams to reinvent the multibillion dollar personal care specialty retailer into a beauty juggernaut of the world’s best and biggest brands in fragrance, skin care, hair, apothecary and spa. During her time with the company, Bath & Body Works has delivered a record performance.

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Walmart draws attention to food deals

BY CSA STAFF

BENTONVILLE, Ark. Walmart announced that as part of its Operation Main Street program, it will reduce food prices every week to help offset the cost of Christmas. According to the company, this will save Americans more than $200 million over and above its everyday low prices this holiday.

To alert shoppers about its latest savings, Walmart has launched “Saving Alerts,” a service that enables customers to learn about the latest discounts via free text messages to their cell phones. In addition, Walmart’s Ad Match policy assures customers that their Walmart will match any local competitor’s advertised price on the exact same item, alleviating the need for shoppers to drive all over town to get the very best value.

“We want all customers shopping our food aisles this season to know the trust they have in us to help them save money is well placed,” said Jack Sinclair, evp of grocery, at Walmart Stores US. “Last year we saved families an average of $700 on the same packaged grocery items sold at other supermarkets. We plan to keep on helping families stretch their dollars this holiday with prices that make a meaningful difference to their budget.” .

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