ATLANTA-The Home Depot has purchased blinds.com, the online window coverings retailer, in a deal that closed yesterday. Terms of the deal were not disclosed. Home Depot plans to work with blinds.com to expand its technology into homedepot.com and the company’s stores. The goal will be to improve the entire end-to-end shopping process for window coverings, … More »
HOFFMAN ESTATES, Ill.-In a blog posted earlier this week on the Sears Holdings website, Chairman and CEO Edward Lampert indicated that the company will close more Sears and Kmart stores down the road. Lampert’s blog, which detailed the reasoning behind the transformation of Sears and Kmart, noted the consensus that overall retail store traffic had … More »
DANBURY, Conn.-A watchful eye on expenses helped Ethan Allen to a gain of 17.4 percent in second-quarter net income, which totaled $11.6 million. Selling, general and administrative expenses dropped 0.5 percent in dollars and 67 basis points as a percentage of sales. Gross margin rose 53 basis points to 54.9 percent. Net sales in the … More »
SEATTLE-Brian Valentine, head of Amazon.com’s e-commerce technology platform, will retire next month. According to a company spokesman, Valentine’s team will report to other senior leaders at Amazon. Valentine joined Amazon in 2006, after a career with Microsoft.
TORONTO-Donald Watros, chief operating officer for Hudson’s Bay, has assumed the additional responsibilities of acting chief financial officer for the retail company. Effective today, Michael Culhane, Hudson’s Bay’s chief financial officer, is on a personal leave of absence from the company. A Hudson’s Bay statement provided no other details on these moves.
DALLAS–This year’s winners of the 25th Annual ARTS Awards were presented and honored at a gala event this past Saturday, during the Dallas Total Home & Gift Market. Presented by Dallas Market Center and ART, the evening kicked off with the 25th Anniversary Academy of Achievement award, which was presented to the founders of the … More »
PLANO, Texas-J.C. Penney said it will close 33 underperforming stores throughout the country, thus resulting in the layoffs of 2,000 employees. The company said the store closings and layoffs are part of its turnaround efforts, and will enable it to focus its resources on what it described as its “highest potential growth opportunities.” The moves … More »
MINNEAPOLIS-For the holiday season constituting the nine weeks ending on Jan. 4, Best Buy logged sales of $11.5 billion, down 2.6 percent from the holiday season of last year. In its statement announcing the results, Best Buy also said same-store sales for the period were off 0.8 percent, compared to a 1.7 percent decline from … More »