Retail

Bon-Ton Net Rises 5.9 Percent in Fourth Quarter

Bon-Ton Net Rises 5.9 Percent in Fourth Quarter

YORK, Pa.–Reduced selling, general and administrative expenses helped The Bon-Ton Stores to an increase of 5.9 percent in its net income, to $85 million, in its fiscal fourth quarter. It was the department-store retailer’s first profitable quarter of the fiscal year. Bon-Ton shaved SG&A by 5.2 percent on a dollar basis in the quarter, whichMore »

Target Goes Urban with Smaller Format

Target Goes Urban with Smaller Format

By David GillIn yet another move intended to expand the retailer’s market presence, Target has scheduled the opening of its first smaller-format store, to be called CityTarget, for 2012 in Chicago. The store will be sited in Sullivan Center, a historic landmark that was once the Carson Pirie Scott building, at the corner of SouthMore »

Retail Sales Rise at Major Chains

Retail Sales Rise at Major Chains

NEW YORK–The U.S. retail fiscal year began on the upswing for most of the chains tracked by HFN. All of the chains except Dillard’s reported increases in February. The leaders were in the department-store category. J.C. Penney posted a same-store sales increase of 6.4 percent, riding on the crest of a strong Valentine’s Day performance.More »

Pier 1 Boosts Sales for Fourth Quarter and Fiscal Year

Pier 1 Boosts Sales for Fourth Quarter and Fiscal Year

FORT WORTH, Texas–Pier 1 Imports wrapped up what Alex Smith, its president and chief executive officer, called “an outstanding year” with fourth-quarter and fiscal-year sales increases of 7.8 percent and 8.1 percent, respectively. Net sales for the quarter totaled $427 million, and for the fiscal year reached $1.4 billion. Same-store sales also made impressive gainsMore »

Costco Net Rises 16 Percent in Second Quarter

Costco Net Rises 16 Percent in Second Quarter

ISSAQUAH, Wash.-A hefty gain in total revenue drove Costco’s bottom line to a 16 percent increase in its fiscal second quarter. Net income for the warehouse-club retailer totaled $348 million in the quarter, which ended Feb. 13. Total revenue, including net sales and membership fees, climbed 11 percent to $20.9 billion. The top line gotMore »

BJ’s Net Falls 81 Percent in Fourth Quarter

BJ’s Net Falls 81 Percent in Fourth Quarter

WESTBOROUGH, Mass.-Rising expenses, including costs related to the closure of some of its clubs, slashed BJ’s Wholesale Club’s fourth-quarter net income by 81 percent, to $10.2 billion. Selling, general and administrative expenses jumped 12 percent in dollars and 37 basis points as a percentage of sales, to 8.2 percent. BJ’s bottom line was also hurtMore »

High Point’s International Home Furnishings Center Building to be Sold

High Point’s International Home Furnishings Center Building to be Sold

HIGH POINT, N.C.-High Point Market’s International Home Furnishings Center building is in agreement to be sold by Bassett Furniture and other shareholders, according to a document filed with the Securities and Exchange Commission. With a purchase price of $275 million, the buyers are identified as an entity called IHFC Acquisition Co. The filing mentions aMore »

Blog: Kitchen Curiosities in Chicago

Blog: Kitchen Curiosities in Chicago

One hundred years before the food processor, there was the Starrett meat and vegetable chopper (version shown here from 1865), one of the 300-plus items now on view at Kendall College’s Culinary Curiosity exhibition (culinarycuriosity.org) in Chicago. The exhibit gives visitors — and perhaps International Home + Housewares Show attendees looking to take a breakMore »