Retail

iRobot Boosts Net by 36 Percent in Fourth Quarter

iRobot Boosts Net by 36 Percent in Fourth Quarter

BEDFORD, Mass.–Fourth-quarter net income for iRobot jumped to $7 million, 36 percent more than in its fiscal fourth quarter of last year. The company—which, among other businesses, manufactures and markets home-vacuum robots such as the Roomba—reported a gain in total revenues of 12 percent to $114 million. This included a 14 percent gain in product revenueMore »

Ackman, Roth Named to J.C. Penney Board

Bill Ackman

PLANO, Texas–William Ackman, founder and chief executive officer of Pershing Square Capital Management, and Steven Roth, chairman of Vornado Realty Trust, have been appointed to the J.C. Penney board of directors. A J.C. Penney statement said Pershing Square (described in press reports as an “activist” investment firm) and Vornado are among the retailer’s largest shareholders.More »

Dally Named GMM for Hardlines at Lowe’s

Dally Named GMM for Hardlines at Lowe’s

MOORESVILLE, N.C.–Troy Dally, vice president of merchandising for millwork at Lowe’s, has been promoted to senior vice president and general manager-hardlines/building products. Dally assumes responsibility over the merchandising of all product categories under the hardlines and building-products segments. He reports to Bob Gfeller, executive vice president of merchandising, whom he has succeeded in his newMore »

Libbey Posts Income Gain in Q4

Libbey Posts Income Gain in Q4

TOLEDO, Ohio-An increase in business-to-business and foodservice sales helped lift glassmaker Libbey’s net income in the fourth quarter, which ended Dec. 31, 2010. Libbey reported net income of $2.8 million in the fourth quarter, compared to a net loss of $7.1 million in the prior-year quarter. Sales in the quarter were $222.8 million, compared toMore »

Crown Crafts Net Drops 30 Percent in Third Quarter

Crown Crafts Net Drops 30 Percent in Third Quarter

GONZALES, La.–Higher costs for raw materials, labor, transportation and currency hurt Crown Crafts’ bottom line in its fiscal third quarter, which ended on Dec. 26, 2010. Third-quarter net income fell 30 percent to $775,000, despite a net sales gain of 6.3 percent to $21.9 million. The above-mentioned costs, along with what Crown Crafts described asMore »

Reports: Big Lots Considering Possible Sale

Reports: Big Lots Considering Possible Sale

COLUMBUS, Ohio–Big Lots is exploring a possible sale of the company, among other alternatives, according to press reports from a number of sources. Press reports said the retailer has been approached by Thomas H. Lee Partners, former owner of Simmons, and Bain Capital about a potential sale. Big Lots has been working with Goldman SachsMore »

hhgregg Net Climbs 18 Percent in Q3

hhgregg Net Climbs 18 Percent in Q3

INDIANAPOLIS–Net income for specialty home retailer hhgregg rose 18 percent to $26.9 million in its fiscal third quarter, which ended on Dec. 31, 2010. The company achieved this result largely on the back of a 31 percent increase in net sales, which totaled $653.7 million in the quarter, but which included a 6.2 percent declineMore »