REAL ESTATE

Hollister makes waves in Fifth Avenue debut

BY CSA STAFF

New York City — Hollister, the Southern California-themed brand from Abercrombie & Fitch, has opened its doors on Fifth Avenue in Manhattan. The 15,000-sq.-ft., two-level flagship boasts a double-height glass storefront that is covered with video screens showing a live feed of the surf back in Huntington Beach, Calif. It’s a striking effect that has passers-by lined up neck to neck.

Click here to see photos and video of the Hollister storefront.

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OPERATIONS

Sam’s Club launches delivery service

BY CSA STAFF

Bentonville, Ark. — Sam’s Club has launched a new service that offers delivery, installation, assembly or set-up of a number of items such as mattresses, televisions, computers, barbecue grills and more. The chain said it is offering the service for items purchased at more than 600 stores nationwide.

The service is provided by a third-party vendor that will work on both home and business installation. Delivery prices start at $59 and installation is provided at an additional cost.

Sam’s Club said the services will make it simple for members to purchase large items for the holidays.

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FINANCE

Big Lots cuts outlook as profit falls

BY CSA STAFF

Columbus, Ohio — Big Lots on Friday posted a lower-than expected quarterly profit, and the company cut its outlook for the crucial holiday quarter, in the face of strong competition and aggressive promotions from rivals.

The chain said profit for the quarter ended Oct. 30 fell 42% to $17.7 million, from $30.3 million a year earlier, when the company’s earnings included a 10-cents-a-share benefit from real estate transactions. Net sales in the latest quarter rose 2% to $1.06 billion as same-store sales rose 0.7%.

"Investments made to open new stores, refresh existing stores, and prepare our business for the all-important holiday season along with softer third-quarter sales results caused our expenses to grow at a faster rate than sales," the company said in a statement.

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