Retail

TTI Bottom Line Grows 51 Percent in 2010

TTI Bottom Line Grows 51 Percent in 2010

HONG KONG—Net income for TTI, the parent company of the Hoover and Dirt Devil floor-care brands, jumped 51 percent in its 2010 fiscal year, totaling $95 million. A company statement attributed the bottom-line strength to new products, continued expansion geographically and “significant operational efficiencies.” The latter was a key factor in the 13.3 percent increaseMore »

Bishop Joins Brandwise as Vice President

Bishop Joins Brandwise as Vice President

LAKEWOOD, Colo.—Business technology provider Brandwise has named Paul Bishop as vice president of marketing and communications, a new position, where he will lead the marketing and communications department as the company enhances its focus on communication. Bishop joins Brandwise from the public relations firm Professional  Marketing, where he spent three years as executive vice presidentMore »

Walmart Establishes Eastern Unit, Tabs Brewer as Head

Walmart Establishes Eastern Unit, Tabs Brewer as Head

BENTONVILLE, Ark.-Walmart has formed a new business unit for its eastern region, and has named Rosalind Brewer president of Walmart East. Headquartered in Atlanta, Walmart East will encompass its stores in Florida, Georgia, Alabama, South Carolina, North Carolina, Virginia, West Virginia, Ohio, Michigan, Maryland, Delaware, New Jersey, Pennsylvania, New York, Vermont, New Hampshire, Massachusetts, Connecticut,More »

Fourth-Quarter Net Drops 16 Percent at Best Buy

Fourth-Quarter Net Drops 16 Percent at Best Buy

MINNEAPOLIS-A decline in revenue and restructuring charges combined to slice down Best Buy’s bottom line by 16 percent, to $651 million, in its fiscal fourth quarter ending on Feb. 26. Revenue in the quarter totaled $16.3 billion, off 1.8 percent from last year’s fourth quarter. The retailer also reported charges of $222 million for theMore »

Gilt Groupe Acquires Decorati

Gilt Groupe Acquires Decorati

NEW YORK-Gilt Groupe, an online shopping destination, has acquired home decor site Decorati, expanding its footprint in home to include offerings for designers and trade-only manufacturers. Terms of the deal were not disclosed. Decorati is a destination site for upscale interior design products and services as well as a community for the display of designerMore »

Dollar General Sets Records in Profit, Sales in Fourth Quarter

Dollar General Sets Records in Profit, Sales in Fourth Quarter

GOODLETTSVILLE, Tenn.–Closing what Rick Dreiling, chairman and CEO, called “a great year,” Dollar General posted new records in net income and sales in its fiscal fourth quarter, which ended on Jan. 29. Net income jumped 155 percent to $222.5 million, thanks in part to a net sales gain of 9.4 percent to $3.5 billion, whichMore »

BJ’s Pushes Ahead with Possible Sale

BJ’s Pushes Ahead with Possible Sale

NATICK, Mass.–BJ’s Wholesale Club may be moving closer to an acquisition by Leonard Green Partners. According to a filing with the U.S. Securities and Exchange Commission, the warehouse-club retailer has entered into a confidentiality agreement with Leonard Green, whose affiliate, Green Equity Investors, owns 9.3 percent of BJ’s common stock. Under the terms of theMore »

Parsons Explores the Evolution of Interior Design

Parsons Explores the Evolution of Interior Design

NEW YORK–Parsons The New School for Design will explore the future of interior design and look back at a pivotal moment in its history with the exhibition Radical Shifts: Reshaping the Interior at Parsons, 1955-1985 (March 23-April 8) and the symposium Aftertaste: Immaterial Environments (April 1-2). Both events will take place at the Sheila C.More »