National Entertainment buys most assets of defunct Movie Gallery chain
New York City — Movie merchandise seller National Entertainment Collectibles said Thursday that it had acquired most of the assets of Movie Gallery, which has been liquidating its Hollywood Video, Movie Gallery and Game Crazy stores.
Movie Gallery, once the nation’s second-largest video and game rental chain with 4,000 stores in the United States and Canada, filed for bankruptcy in February. In October, a federal bankruptcy judge in Richmond, Va., approved the auction of its brand names, Internet domain names and customer databases.
National Entertainment said the purchase of Movie Gallery assets is part of its plan to expand into content development and distribution. It said that in the coming weeks it will have partnership announcements to sell products through kiosks and stream content online.
Lululemon athletica sales and profits soar in Q3
Vancouver, British Columbia — Yoga apparel retailer and manufacturer Lululemon athletica reported Thursday that net income for the quarter ended Oct. 31 rose to $25.7 million, compared with $14.1 million in the year-ago period.
Net revenue surged 56% to $175.8 million, from $112.9 million. Same-store sales increased 29%.
The company operates 134 stores in North America and Australia.
First Data: Average ticket up in November
New York City — Retailers performed well in November with dollar volume growth of 8.5%, compared with 5.2% in October, according to First Data’s SpendTrend Analysis for November. The report includes same-store consumer spending via credit, signature debit, PIN debit and EBT cards at U.S. merchant locations.
First Data also reported that credit growth was the highest in over a year as year-over-year credit transactions rose 5.4% in November. In other findings, after five consecutive months of year-over-year declines, overall average tickets grew 0.4% in November, after declining 1.7% in October.