UNION, N.J.–Net income for Bed Bath & Beyond in the fourth quarter totaled $226 million, up 60 percent over the fourth quarter of last year. The company accomplished this bottom-line boost on a 16.7 percent gain in net sales for the quarter, which reached $2.2 billion. In addition, Bed Bath firmed its gross margin by … More »
FORT WORTH, Texas–Pier 1 Imports finished fiscal year 2010 with net income of $34.5 million for the fourth quarter and $86.8 million for the year, reversing losses of $29.4 million and $129.3 million, respectively, for the fourth quarter and fiscal year of 2009. The specialty retailer managed this turnaround through a combination of increases in … More »
CHATSWORTH, Calif.–Kathy Ireland, designer and brand partner of Pacific Coast Lighting, will make an appearance at the company’s showroom during the upcoming High Point Market. She will be at the showroom on Sunday, April 18, from 11 a.m. to noon to greet retailers and customers and talk about her line. Ireland’s products, including her designs … More »
NEW YORK–Haier America has signed a sponsorship agreement with the USA Pavilion for the Shanghai World Expo 2010. The expo is scheduled to run from May 1, to Sunday, Oct. 31. According to a statement from Haier America, it is expected to attract an estimated 70 million visitors, which would make it the largest world’s … More »
MATTHEWS, N.C.–Net income for Family Dollar reached $112.2 million in the second quarter, 33 percent ahead of last year’s second quarter. Gains in sales and gross margin, along with a reduction in expenses as a percentage of sales, helped bolster the retailer’s bottom line in the quarter. Net sales rose 4.9 percent to $2.1 billion, … More »
BENTONVILLE, Ark.–Well-known retail executive Allen Questrom will not seek reelection to Walmart’s board of directors, according to a report in Women’s Wear Daily. Questrom, who has done chief executive stints at J.C. Penney, Neiman Marcus and Barneys, joined Walmart’s board in 2007. Walmart’s board members must seek reelection annually.
NEW YORK–Three of Hearst Magazines’ key publications have new editors as the company announced several switches at the top of its editorial ranks. Stephen Drucker, who has been editor of House Beautiful and helped lead the magazine to a revival the past five years, is moving over to Town&Country as editor-in-chief. Succeeding him at House … More »
NEW YORK–After 20 years—and over 40 New York Tabletop Markets—Deborah Brown Elliott, Forty One Madison’s marketing and communications arm is retiring. “On behalf of the Rudin family and everyone at Forty One Madison, I would like to thank Debby for her dedication, professionalism and creativity over the years,” said Laurie Burns, senior vice president, director … More »