Retail

Williams-Sonoma Gains 28 Percent in Fourth-Quarter Net

Williams-Sonoma Gains 28 Percent in Fourth-Quarter Net

SAN FRANCISCO–A strong gain in direct-to-customer revenues and tight expense controls combined to propel Williams-Sonoma’s fourth-quarter net income by 28 percent, to $113.4 million. Fueled by a 17 percent increase in direct-to-customer revenues, total net revenues in the quarter, which ended on Jan. 30, were $1.2 billion, up 9.7 percent. Selling, general and administrative expensesMore »

Family Dollar Boosts Same-Store Sales 5.1 Percent in Q2

Family Dollar Boosts Same-Store Sales 5.1 Percent in Q2

MATTHEWS, N.C.–Same-store sales for Family Dollar rose 5.1 percent in its fiscal second quarter, which ended Feb. 26. A statement from the discount retailer said a strong February, which delivered springlike weather in many of its locations, helped offset a January in which sales took a hit from the winter storms throughout the nation. ConsumablesMore »

Navarre New CEO of Croscill, Glenoit, Excell

Navarre New CEO of Croscill, Glenoit, Excell

NEW YORK–Marc Navarre has been named the president and chief executive officer of Croscill, Glenoit and Excell. Most recently, Navarre was the president and CEO of Groupe SEB, North America, where he oversaw the management of housewares brands such as All-Clad, T-Fal, WearEver, Rowenta, Moulinex and Krups. Previously, Navarre served as the president and CEOMore »

Walmart Sets Plans for New Smaller Format in U.S.

Walmart Sets Plans for New Smaller Format in U.S.

BENTONVILLE, Ark.-Walmart will debut new, smaller-format stores in the United States, which will be called Walmart Express. Speaking at yesterday’s Bank of America Merrill Lynch Consumer Conference, Bill Simon, president and chief executive officer of Walmart U.S., said the new Walmart Express format will measure roughly 15,000 square feet. The company is still developing theMore »

Sales in Home Retail Channels Fall in February

Sales in Home Retail Channels Fall in February

WASHINGTON-While February was an upbeat month for U.S. retailers as a whole, the furniture and home-furnishings sector registered a down month. Sales at furniture and home-furnishings stores were off 0.8 percent from January and fell four percent from February of last year, totaling $7.4 billion on an adjusted basis, according to figures released this morningMore »

Robb & Stucky Going-Out-of-Business Sale Starts Today

Robb & Stucky Going-Out-of-Business Sale Starts Today

FORT MYERS, Fla.-After more than 95 years in business, Robb & Stucky will conduct a court-ordered bankruptcy liquidation sale beginning today at all 20 of its stores. Inventory at the stores, located in Florida, Texas, Arizona and Nevada, is valued at approximately $90 million, and will be completely liquidated at significant discounts, according to theMore »

Family Dollar Promotes Burt, Styka to New Finance Posts

Family Dollar Promotes Burt, Styka to New Finance Posts

MATTHEWS, N.C.-Family Dollar has elevated Steven Burt and David Styka to newly created positions in its finance department. Burt, divisional vice president-treasury, has been named vice president and treasurer. Styka, divisional vice president-tax, has been appointed vice president of finance. Both executives report to Ken Smith, senior vice president and chief financial officer. Burt hasMore »

Stein Mart Net Jumps 586 Percent in Fourth Quarter

Stein Mart Net Jumps 586 Percent in Fourth Quarter

JACKSONVILLE, Fla.–A streamlining of the cost structure and improved inventory management helped Stein Mart to a dramatic 586 percent pickup in fourth-quarter net income, to $18.8 million. The department-store retailer managed this despite a 1.5 percent drop in fourth-quarter net sales to $336.7 million. It slimmed selling, general and administrative expenses by 11.5 percent inMore »