Retail

Hara Named to HSNi Corporate Strategy Post

Hara Named to HSNi Corporate Strategy Post

ST. PETERSBURG, Fla.–HSNi has appointed Mitchell Hara to the newly created position of senior vice president of corporate strategy/M&A. In this role, Hara is responsible for overall corporate strategy, in particular in identifying and developing new strategic initiatives and leading the strategic planning process for the company. He also evaluates and oversees potential strategic partnershipsMore »

Pernotto Takes Helm at Linens & More for Less

Pernotto Takes Helm at Linens & More for Less

BROOKFIELD, Ohio–Stephen Pernotto has been named president and CEO of Linens & More for Less, the seven-store home-furnishings specialty retailer. Pernotto has thus assumed responsibility for the overall direction of the chain. He has succeeded Fred Mershad, the former president and CEO of Elder-Beerman, who co-founded the chain last year and who has now becomeMore »

Tansky Joins Marvin Traub Associates

Tansky Joins Marvin Traub Associates

NEW YORK-Marvin Traub Associates announced that Burton Tansky, the former CEO of the Neiman Marcus Group, will become senior advisor to the firm. Tansky’s background as a department store and luxury industry executive “is uniquely complementary to MTA’s broad base of expertise and further strengthens MTA’s ability to deliver quality tactical and strategic advice to clientsMore »

Walmart to Go Small

Walmart to Go Small

By David Gill Walmart Express, a 15,000 square-foot format, marks a new direction for the world’s largest retailer as it seeks to recharge its U.S. business, according to Bill Simon, president and chief executive officer of Walmart U.S. Speaking at last month’s Bank of America Merrill Lynch Consumer Conference, Simon said the company will openMore »

Report Finds Walmart Top U.S. Retail Brand

Report Finds Walmart Top U.S. Retail Brand

NEW YORK–Although its brand value expressed in dollars fell 8 percent year over year, Walmart is still overwhelmingly the nation’s most valuable retail brand, according to the Best Retail Brands report from consultancy Interbrand. Walmart’s current total brand value is $142 billion, according to the report. The remaining top five retail brands are Target atMore »

Rising Expenses Cut Brookstone Fourth-Quarter Net 22 Percent

Rising Expenses Cut Brookstone Fourth-Quarter Net 22 Percent

MERRIMACK, N.H.–Increased costs offset a healthy net sales gain to reduce Brookstone’s fourth-quarter net income 22 percent, to $42.8 million. Selling, general and administrative expenses for the quarter, which ended on Jan. 1, increased by 11 percent in dollars and 32 basis points as a percentage of sales, to 23.2 percent. In addition, gross marginMore »

Family Dollar Boosts Second-Quarter Net 9.8 Percent

Family Dollar Boosts Second-Quarter Net 9.8 Percent

MATTHEWS, N.C.-Rising sales and higher operating margins fueled a 9.8 percent increase in Family Dollar’s second-quarter net income, to $123.2 million. Net sales jumped 8.3 percent to $2.3 billion, including a 5.1 percent pickup in same-store sales. Gross margin in the quarter, which ended on Feb. 26, rose 23 basis points to 35.7 percent. AlthoughMore »

Consumer Confidence Plummets in March

Consumer Confidence Plummets in March

NEW YORK–Consumers are significantly less confident about the economy than they were one month ago, according to the latest consumer confidence survey by The Conference Board. The consumer confidence index shed 8.6 points in the March survey to 63.4. In the two component indexes, the expectations index dropped 16.4 points to 81.1. The present situationMore »