Retail

TJX to Close A.J. Wright Division

TJX to Close A.J. Wright Division

FRAMINGHAM, Mass.—The TJX Cos. will close down its A.J. Wright chain of off-price apparel and home-fashions stores by early next year. The company will permanently close 71 A.J. Wright stores and convert the remaining 91 in the chain to T.J. Maxx, Marshalls and HomeGoods locations. All A.J. Wright locations will be closed between late JanuaryMore »

Keurig Boosts Green Mountain Fourth Quarter

Keurig Boosts Green Mountain Fourth Quarter

WATERBURY, Vt.—Sales of Keurig brewers and K-Cup portion packs fueled Green Mountain Coffee Roasters, Keurig’s parent company, to huge gains in sales and profits in the fourth quarter. Green Mountain’s net income rose 92 percent in the quarter to $27 million, and the company reported a 73 percent gain in net sales, which totaled $373.1More »

Gordmans Registers $2.5 Million Loss in Third Quarter

Gordmans Registers $2.5 Million Loss in Third Quarter

OMAHA, Neb.—Midwest retailer Gordmans Stores reported a net loss of $2.5 million in the third quarter ending on Oct. 30, compared to net income of $3.9 million in last year’s third quarter.   The quarterly loss included non-recurring charges of $10.7 million, without which net income would have risen 9.3 percent. Net sales increased 11More »

Williams-Sonoma’s Lester Remembered

Williams-Sonoma’s Lester Remembered

The retail and housewares industries were saddened last month by the passing of Howard Lester, the former chairman and chief executive officer of Williams-Sonoma. Lester, one of the signature figures in U.S. retailing for more than three decades, died after a long battle with cancer. He was 75. “Our industry has suffered a great loss,”More »

Trade Show Preview: It’s Showtime!

Trade Show Preview: It’s Showtime!

TextilesAs it does every year, Heimtextil begins the first-half trade-show season for the home textiles industry, and is scheduled for Jan. 12-15. Messe Frankfurt, owner and manager of the venerable show, has planned several “conceptual changes,” according to the company, to the home-textiles section. Olaf Schmidt, vice president of textile fairs for Messe Frankfurt, saidMore »

Pantone Names Honeysuckle as 2011 Color of the Year

Pantone Names Honeysuckle as 2011 Color of the Year

CARLSTADT, N.J.–The vibrant, uplifting color honeysuckle has been named as Pantone’s color of the year for 2011. Numbered as Pantone 18-2120, Honeysuckle is a contrast to 2010’s calming color of the year Turquoise. “In times of stress, we need something to lift our spirits. Honeysuckle is a captivating, stimulating color that gets the adrenaline going—perfectMore »

Costco Net Rises 17 Percent in First Quarter

Costco Net Rises 17 Percent in First Quarter

ISSAQUAH, Wash.–A double-digit sales increase helped drive Costco to a 17 percent pickup in net income in its fiscal first quarter. The warehouse club’s bottom line totaled $312 million in the quarter, which ended on Nov. 21. Net sales increased 11 percent, which included a 7 percent gain in same-store sales. Costco’s first-quarter sales gotMore »

Investor Firm Acquires Gracious Home

Investor Firm Acquires Gracious Home

NEW YORK–Americas Retail Flagship Fund, an investor company with interests in retail and real estate, has swung a deal to purchase Gracious Home, the specialty retail that has been in Chapter 11 bankruptcy since August. According to a joint statement from the retailer and its new owner, the acquisition “rescued” the company and its moreMore »