News

Walmart Net Rises 3.6 Percent in Second Quarter

Walmart Net Rises 3.6 Percent in Second Quarter

BENTONVILLE, Ark.–Net income for Walmart finished the second quarter at $3.6 billion, up 3.6 percent from the second quarter of 2009. The world’s largest retailer posted a net sales gain of 2.8 percent to $103 billion in the quarter, which included an 11 percent jump in international sales. Driving global sales were strong growth inMore »

Second-Quarter Profit Up 6.8 Percent for Home Depot

Second-Quarter Profit Up 6.8 Percent for Home Depot

ATLANTA–Home Depot registered net income of $1.2 billion for the second quarter, up 6.8 percent from the 2009 second quarter. Expense control proved to be the key to the enhanced bottom line for the nation’s largest home-improvement retailer. Home Depot’s total operating expenses dropped 0.5 percent, and its gross margin firmed by 42 basis pointsMore »

Net Loss Rises for Spectrum Brands in Third Quarter

Net Loss Rises for Spectrum Brands in Third Quarter

MADISON, Wis.–For the third quarter which saw the closing of the company’s merger with Russell Hobbs, Spectrum Brands reported a loss of $86.5 million, up from the third-quarter loss of $36.5 million last year. The merger played a central role in the reddening in the company’s bottom line, according to a Spectrum statement. Cash andMore »

Housewares Show to Add Discover Design Category at the 2011 Show

Housewares Show to Add Discover Design Category at the 2011 Show

ROSEMONT, Ill.–The International Housewares Association will add a new category called Discover Design at the next International Home + Housewares Show, which is scheduled for March 6-8, 2011. The category will be located in the Tabletop, Kitchen Essentials + Accents section in the Dine + Design Expo in the South building of McCormick Place. InMore »

Capel Rugs Names Arthur Senior Designer

Capel Rugs Names Arthur Senior Designer

TROY, N.C.–Lorie Arthur has been named senior designer, a new position, at Capel Rugs. She will report to Tami Watras, director of merchandising. Arthur has more than 20 years experience in textile design, product development, merchandising and sourcing, and previously served as director of product development and design for Artisan Design Group and Springs Industries.More »

Latex International to Open Texas Fabrication Facility

Latex International to Open Texas Fabrication Facility

SHELTON, Conn.–Latex International will open a mattress component fabrication facility in Wichita Falls, Texas, on Sept. 1. The 100,000-square-foot plant is Phase One of the company’s new fabrication strategy. The company also broke ground on a latex manufacturing plant in Malaysia on June 17, and will close fabrication facilities in Atlanta and La Mirada, Calif.More »

Gracious Home Files for Bankruptcy

Gracious Home Files for Bankruptcy

NEW YORK–Gracious Home, a fixture in Manhattan for home furnishings for 47 years, filed for bankruptcy on Friday. Jordan Smilowitz, the president and chief operating officer of the three-store chain, said the company will continue operating through the bankruptcy. “We intend to emerge from these proceedings with a significantly improved balance sheet and, consequently, greaterMore »

Lowe’s Net Rises 9.6 Percent in Second Quarter

Lowe’s Net Rises 9.6 Percent in Second Quarter

MOORESVILLE, N.C.–Net income for Lowe’s reached $832 million in the second quarter, up 9.6 percent from the second quarter of last year. The home-improvement retailer logged net sales of $14.4 billion in the quarter, an increase of 3.7 percent, which included a 1.6 percent rise in same-store sales. Lowe’s held the line on expenses. Selling,More »