Retail

Strong Sales, Expense Controls Drive Bed Bath & Beyond Gain

Strong Sales, Expense Controls Drive Bed Bath & Beyond Gain

UNION, N.J.–Thanks to a significant gain in net sales and the company’s wary eye on expenses, Bed Bath & Beyond closed its fiscal year with a 25 percent increase in fourth-quarter net income, to $283.5 million. Net sales in the quarter, which closed on Feb. 26, rose 12 percent to $2.5 billion. While selling, generalMore »

Pier 1 Net Jumps 65 Percent in Q4, Announces Three-Year Growth Plan

Pier 1 Net Jumps 65 Percent in Q4, Announces Three-Year Growth Plan

FORT WORTH, Texas–Ending what Alex Smith, president and CEO, called “truly an exceptional year,” Pier 1 Imports registered a 65 percent gain in fourth-quarter net income, to $57.1 million. The home-furnishings retailer is also on the march for more growth. It has formulated a three-year plan that will ultimately transform Pier 1 into a fullMore »

Sandra Lee Home Line to Appear in Sears and Kmart

Sandra Lee Home Line to Appear in Sears and Kmart

NEW YORK-Sears Holdings has reached an agreement with Sandra Lee, the television star and author, for an exclusive collection of home products to be offered in Sears and Kmart stores under the brand Sandra by Sandra Lee. The initial collection, which will reach the stores in spring 2012, will consist of cookware, utensils, gadgets, bakeware,More »

eBay to Acquire GSI Commerce

eBay to Acquire GSI Commerce

SAN JOSE, Calif.–eBay has struck a deal to purchase GSI Commerce, parent company of the Smart Bargains and Rue La La shopping websites, for about $2.4 billion. When the deal is closed, which is expected to take place in the third quarter, it will give eBay a larger foothold in home web retailing. Both SmartMore »

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 »