Retail

Walmart Sets Plans for New Smaller Format in U.S.

Walmart Sets Plans for New Smaller Format in U.S.

BENTONVILLE, Ark.-Walmart will debut new, smaller-format stores in the United States, which will be called Walmart Express. Speaking at yesterday’s Bank of America Merrill Lynch Consumer Conference, Bill Simon, president and chief executive officer of Walmart U.S., said the new Walmart Express format will measure roughly 15,000 square feet. The company is still developing theMore »

Sales in Home Retail Channels Fall in February

Sales in Home Retail Channels Fall in February

WASHINGTON-While February was an upbeat month for U.S. retailers as a whole, the furniture and home-furnishings sector registered a down month. Sales at furniture and home-furnishings stores were off 0.8 percent from January and fell four percent from February of last year, totaling $7.4 billion on an adjusted basis, according to figures released this morningMore »

Robb & Stucky Going-Out-of-Business Sale Starts Today

Robb & Stucky Going-Out-of-Business Sale Starts Today

FORT MYERS, Fla.-After more than 95 years in business, Robb & Stucky will conduct a court-ordered bankruptcy liquidation sale beginning today at all 20 of its stores. Inventory at the stores, located in Florida, Texas, Arizona and Nevada, is valued at approximately $90 million, and will be completely liquidated at significant discounts, according to theMore »

Family Dollar Promotes Burt, Styka to New Finance Posts

Family Dollar Promotes Burt, Styka to New Finance Posts

MATTHEWS, N.C.-Family Dollar has elevated Steven Burt and David Styka to newly created positions in its finance department. Burt, divisional vice president-treasury, has been named vice president and treasurer. Styka, divisional vice president-tax, has been appointed vice president of finance. Both executives report to Ken Smith, senior vice president and chief financial officer. Burt hasMore »

Stein Mart Net Jumps 586 Percent in Fourth Quarter

Stein Mart Net Jumps 586 Percent in Fourth Quarter

JACKSONVILLE, Fla.–A streamlining of the cost structure and improved inventory management helped Stein Mart to a dramatic 586 percent pickup in fourth-quarter net income, to $18.8 million. The department-store retailer managed this despite a 1.5 percent drop in fourth-quarter net sales to $336.7 million. It slimmed selling, general and administrative expenses by 11.5 percent inMore »

Shopko Updates E-Commerce Site

Shopko Updates E-Commerce Site

GREEN BAY, Wis.–Shopko has renovated its e-commerce site, shopko.com, to enhance the online shopping experience, including an improved layout, design and navigation; updated product search capabilities; and user-friendly viewing from PCs, laptops, tablet and mobile devices. “The initial feedback we’ve received from our customers on these improvements has been fantastic,” said Mike Sidders, vice presidentMore »

Lifetime Brands Boosts Q4 Net by 176 Percent

Lifetime Brands Boosts Q4 Net by 176 Percent

GARDEN CITY, N.Y.–A strong gain in net sales and what Jeff Siegel, chairman and chief executive officer, called “cost containment” helped push Lifetime Brands’ net income by 176 percent in the fourth quarter, to $13.9 million. Net sales for the housewares and home-decor vendor rose 11.4 percent to $142.6 million in the quarter, which endedMore »

Kravet Prevails in Auction for Brunschwig & Fils

Kravet Prevails in Auction for Brunschwig & Fils

NEW YORK–Kravet has emerged as the winner of the auction for Brunschwig & Fils. A fourth-generation family-run company, Kravet is expected to assume control of Brunschwig & Fils at the end of this month, pending approval by the bankruptcy court. Brunschwig & Fils filed for Chapter 11 bankruptcy protection in January, as the result ofMore »