Retail

Online Retail to Grow in U.S. and Europe

Online Retail to Grow in U.S. and Europe

CAMBRIDGE, Mass.–Online retail sales both here and in Europe will continue their current double-digit growth pattern for the next five years, according to separate studies of both markets from Forrester Research. Both online-retail markets are projected to rise at a compound annual growth rate of 10 percent a year through 2015. The U.S. market willMore »

Pacific Coast Feather, United Feather Make Merger Deal

Pacific Coast Feather, United Feather Make Merger Deal

SEATTLE-In a move that changes the face of the basic-bedding industry, Pacific Coast Feather and United Feather & Down have reached an agreement to merge. The newly combined company, which has a combined history of 325 years in the utility bedding business,  will have an estimated $300 million in annual sales, according to a statementMore »

Cost Control Firms Bottom Line for J.C. Penney in Fourth Quarter

Cost Control Firms Bottom Line for J.C. Penney in Fourth Quarter

PLANO, Texas-Reduced expenses helped J.C. Penney to an impressive 36 percent gain in net income, to $271 million, in its fourth quarter. Selling, general and administrative expenses were slimmed by 3 percent in dollar terms, and 151 basis points as a percentage of net sales, to 25.7 percent. Myron Ullman III, J.C. Penney’s chairman andMore »

HSNi Net Rises 3 Percent in Fourth Quarter

HSNi Net Rises 3 Percent in Fourth Quarter

ST. PETERSBURG, Fla.-With the company’s Cornerstone unit driving sales gains, fourth-quarter net income for HSNi rose 3 percent to $77.4 million. The Cornerstone business posted a net sales gain of 23 percent in the quarter, helping to boost HSNi’s overall net sales by 9 percent to $915.2 million. Mindy Grossman, HSNi’s chief executive officer, saidMore »

D’Ambrosio Named Sears CEO; Company Net Falls 13 Percent in Q4

D’Ambrosio Named Sears CEO; Company Net Falls 13 Percent in Q4

HOFFMAN ESTATES, Ill.–Sears Holdings has appointed Lou D’Ambrosio president and chief executive officer, concluding a three-year search for a replacement for Aylwin Lewis, who left the company in February 2008. D’Ambrosio succeeds W. Bruce Johnson, who served as interim president and CEO beginning with Lewis’ departure. He had served as a consultant to Sears’ boardMore »

Target Net Up 11 Percent in Fourth Quarter

Target Net Up 11 Percent in Fourth Quarter

MINNEAPOLIS–Target ended its fiscal year on a supremely positive note, with an 11 percent booster to its bottom line for the fourth quarter and a 17 percent jump in net profit for the year. The mass-merchant retailer posted $1 billion in net income for the quarter, which ended on Jan. 29. Net sales rose 2.8More »

Net Rises 14 Percent for Kohl’s in Fourth Quarter

Net Rises 14 Percent for Kohl’s in Fourth Quarter

MENOMONEE FALLS, Wis.–Improved merchandise margins and a watchful eye on expenses fueled Kohl’s to a fourth-quarter gain of 14 percent in net income, which totaled $493 million. The department-store retailer also posted a 6.3 percent increase in net sales to $6 billion. Thanks to its ability to manage inventories, Kohl’s gross margin rose 40 basisMore »

Consumer Confidence Index Reaches Highest Level in Three Years

Consumer Confidence Index Reaches Highest Level in Three Years

NEW YORK–The consumer confidence index finished February at 70.4, its highest reading since February 2008 and up 5.6 points from the January level. Consumers’ increasing optimism about the short-term future helped drive the indicator this month, according to Lynn Franco, director of the Consumer Research Center at The Conference Board, which provides the monthly index.More »