News

Ross Increases Net 15 Percent in Fourth Quarter

Ross Increases Net 15 Percent in Fourth Quarter

PLEASANTON, Calif.–Improved merchandise margins and a healthy sales gain fueled Ross Stores to a 15 percent increase in fourth-quarter net income, to $161.8 million. The retailer’s gross margin rose 105 basis points to 27.2 percent, and net sales for the quarter, which ended on Jan. 29, picked up 8.4 percent to $2.1 billion. The gainsMore »

Moss Named Towel Sales Director at Welspun

Welspun

NEW YORK–Welspun USA has appointed industry veteran Jeff Moss director of towel sales. In his new role, Moss is in charge of sales of the company’s towel line to major retailers. He reports to Barry Leonard, Welspun USA’s president and CEO, and succeeds Jerry McCarthy, who is retiring. Moss’ career includes executive positions with FieldcrestMore »

Young Leaves Capel; No Replacement Named

Young Leaves Capel; No Replacement Named

TROY, N.C.–Longtime Capel executive Bud Young has left Capel Rugs for personal reasons, the company said, and no replacement has been named. Instead, Young’s responsibilities as vice president of marketing will be absorbed by Allen Robertson, vice president of sales, and Tami Watras, director of merchandising. Young was with Capel for 28 years.

Replacements Celebrates Anniversary by Breaking Ground on Habit House

Replacements Celebrates Anniversary by Breaking Ground on Habit House

GREENSBORO, N.C.–Tabletop retailer Replacements is celebrating the company’s 30th anniversary today by kicking off construction on a Habitat for Humanity house. Replacements’ volunteer crew gathered just after sunrise to start framing the new home, followed by an official celebration event later in the morning. “I can’t think of a better way to celebrate,” said founderMore »

Victorinox Names Rob Sterner Sales SVP

Victorinox Names Rob Sterner Sales SVP

MONROE, Conn.–Cutlery maker Victorinox Swiss Army, Inc. has named Rob Sterner senior vice president, sales for the commercial and retail cutlery and Swiss Army knife divisions. In this newly created position, Sterner reports to Rene Stutz, North American president of Victorinox Swiss Army. “Rob will be an integral part of our growth strategy as weMore »

Burnes of Boston Debuts Interior Designer Collections

Burnes of Boston Debuts Interior Designer Collections

ROUND ROCK, Texas-Burnes of Boston is introducing a new level of design to the marketplace with an assortment of home decor from some of the country’s most talented and best-known interior designers. The new line, known as Burnes Interiors, includes photo frames, mirrors, candleholders, and other decorative accessories created by a “dream team” of celebrity interiorMore »