Retail

NRF: Father’s Day Spending to Top $12.5 Billion

NRF

WASHINGTON-Total U.S. spending for Father’s Day gifts should be $12.5 billion for this year’s holiday, according to a survey conducted for the National Retail Federation by Prosper Insight & Analytics. Average spending for the holiday will be $113.80, down from $119.84 last year, the survey found. Spending on personal-care items, such as men’s grooming products,More »

Davidson Named Marketing SVP at Tuesday Morning

Susan Davidson

DALLAS-Tuesday Morning has appointed Susan Davidson senior vice president of marketing. In her new role, Davidson is responsible for developing marketing programs, driving customer traffic, expanding same-store sales and strengthening the consumer bond with Tuesday Morning. She reports directly to CEO Michael Rouleau. Davidson is succeeding Ross Manning, who has left the closeout retailer toMore »

Sailing Innovation Wins Brookstone Auction

Brookstone

MERRIMACK, N.H.-Sailing Innovation, a consortium led by China-based Sailing Capital Overseas Investment fund, has been selected as the winning bidder at the auction for Brookstone. According to a Brookstone statement, the purchase price is $135.7 million, net of cash and assumed liabilities. Subject to the approval of the U.S. Bankruptcy Court for the District ofMore »

Morand Out as Gordmans Chief Merchandiser

Gordmans

OMAHA, Neb.-Michael Morand, executive vice president and chief merchandising officer of Gordmans, has resigned, according to a filing by the home specialty retailer with the U.S. Securities and Exchange Commission. Morand tendered his resignation on May 28, when it took effect. The filing said Gordmans’ merchandising team will report to T. Scott King, interim CEO,More »

Edward Finkelstein, former Macy’s Chief, 89

Edward Finkelstein

NEW YORK-Edward Finkelstein, who is credited with the creation of the highly successful Macy’s Cellar but who as chairman led the retailer to bankruptcy, has died. He was 89. Finkelstein’s death was confirmed by his son, Daniel, in a published report. He joined Macy’s in 1949 as a fabrics buyer, and rose through the ranksMore »

Saks Purchase Boosts Hudson’s Bay Q1

Hudson’s Bay

TORONTO-Fueled by its acquisition of Saks, Hudson’s Bay Co. posted net income of C$176 million (about $160.2 million) in its fiscal first quarter, compared to a net loss of C$82 million (about $80.4 million) in last year’s first quarter. The Saks acquisition, which closed last November, also drove Hudson’s Bay’s top line in the quarter,More »

Dollar General Q1 Net Up Slightly

Dollar General

GOODLETTSVILLE, Tenn.-While sales made a healthy gain in the quarter, rising expenses dampened the bottom line for Dollar General, whose net income edged up 1.1 percent to $222.4 million. Net sales totaled $4.5 billion, up 6.8 percent and including a same-store sales increase of 1.5 percent. Rick Dreiling, Dollar General’s chairman and CEO, noted thatMore »

Hayneedle Adopts Google Search Technology

Hayneedle

OMAHA, Neb.–Online home furnishings retailer Hayneedle.com, through a partnership with Google, has added Google Search Appliance to its shopping site. “With more than 600 million custom furniture combinations now available at hayneedle.com, we need a powerful search engine that helps us fulfill our commitment to providing the best online shopping experience in the industry,” saidMore »