PLANO, Texas–Fourth-quarter net income for J.C. Penney totaled $200 million, 5.2 percent less than one year ago. The department-store retailer saw its bottom line decline due to a 3.6 percent drop in net sales, which totaled $5.6 billion in the quarter and which included a 4.5 percent fall in same-store sales; and an 8.2 percent … More »
NEW YORK–Gretchen Gotthart Skeldon, a 22-year veteran at Libbey, passed away from breast cancer yesterday, the company announced. She was 47 years old and had battled the disease for years. She had held numerous titles over the years at Libbey. Most recently, she was the national retail sales manager. Known as the “Princess of Glass,” … More »
NEW YORK–More than $100,000 was raised at Gift for Life’s recent Kings & Queens Casino night, which was held Jan. 31 and attended by 250 gift and home industry representatives. Besides playing casino type games, attendees also had the chance to win such prizes as a Sonoma Valley Wine Tour from Alexander Valley Vineyards, Dry … More »
DEERFIELD, Ill.–Walgreens has struck a deal to acquire the Duane Reade pharmacy chain from Oak Hill Capital Partners. The purchase price, all in cash, is $1.075 billion, which includes the assumption of debt, according to a joint statement from the two companies. The deal includes all 257 Duane Reade stores in the New York City … More »
TARRYTOWN, N.Y.–Belgian-based cookware company GreenPan has opened its first major office in the U.S. here, as it prepares to increase both its sales and presence in North America and South America. Industry veteran and former independent sales representative Rick Lapine has been appointed president of the division, which will serve as the sales, marketing and … More »
RYE, N.Y.–Jarden reported net income of $1.2 million, reversing a net loss of $170 million from the fourth quarter of one year ago. The bottom-line results included a non-cash impairment charge of $22.9 million for the 2009 fourth quarter, compared to a similar charge of $283 million for the fourth quarter of 2008. Without these … More »
NEW YORK–The Vipp trash bin, which has barely changed in either design or materials since it was first crafted by Holger Nielsen in 1939, has been accepted into the Museum of Modern Art. Vipp bins are available for sale through the MoMA store, as well as other stores worldwide.
FRANKFURT, Germany–The Ambiente trade fair, which wraps up today here, made one thing clear: tabletop and housewares companies have made significant investment in the business and are positive about future prospects. That was evident in both the number of product introductions here and in the stands themselves as companies constructed new booths that were bright, … More »