Retail

Retail Sales Grow 7.9 Percent in December

Retail Sales Grow 7.9 Percent in December

WASHINGTON–U.S. retail sales capped a strong holiday season with a 7.9 percent year-over-year increase in December, totaling $380.9 billion on an adjusted basis, according to figures from the U.S. Census Bureau. The strong pace, however, did not help retail channels that carry home goods. Sales at furniture and home-furnishings stores advanced just 1.4 percent yearMore »

Williams-Sonoma Holiday Revenues up 10.5 Percent

Williams-Sonoma Holiday Revenues up 10.5 Percent

SAN FRANCISCO–Revenues for the Williams-Sonoma holiday season just ended rose 10.5 percent to $865 million over the same period in 2009. The increase included a same-store sales gain of five percent, the retailer said in a statement. As a result, Williams-Sonoma said it now expects fourth-quarter revenues to total between $1.17 billion and $1.19 billion,More »

Home Depot Names Carmack to Head Canadian Division

Home Depot Names Carmack to Head Canadian Division

ATLANTA–The Home Depot has promoted Aaron Carmack to president of The Home Depot Canada, effective Jan. 31. Currently regional vice president of the home-improvement retailer’s Pacific Northwest region in the United States, Carmack will succeed Annette Verschuren, who is leaving the company after 15 years of service. He will be responsible for Home Depot’s 179More »

Sealy Posts $4.5 Million Net Loss in Fourth Quarter

Sealy Posts $4.5 Million Net Loss in Fourth Quarter

TRINITY, N.C.–The divestiture of manufacturing operations in Europe and discontinued manufacturing in Brazil led to a $4.5 million net loss for Sealy in the fourth quarter, which ended on Nov. 28. These moves hurt the mattress manufacturer’s bottom line to the tune of more than $7.9 million, and contrasted to net income of $2.6 millionMore »

Target Aims Globally in Zellers Stores Deal

Target Aims Globally in Zellers Stores Deal

MINNEAPOLIS—Target has made its move to become an international retailer by agreeing with Hudson’s Bay Co. to purchase the leases of up to 220 Zellers stores in Canada. Valued at $1.845 billion, the deal gives Target the leasehold interests in up to 200 sites currently operated by Zellers. It will put Target on track toMore »

NRF Panelists: Consumer Power to Skyrocket

NRF Panelists: Consumer Power to Skyrocket

NEW YORK—Retail leaders from throughout the nation and abroad gave their views on the outlook for retailing over the next day in yesterday’s National Retail Federation Convention session, “Consumer 2020: What Lies Ahead for the Retail Industry.” Moderated by Alison Paul, vice chairman and U.S. Retail Leader for Deloitte, the session included Cathy Green, presidentMore »

Sears Holdings Same-Store Sales Off Slightly in December

Sears Holdings Same-Store Sales Off Slightly in December

HOFFMAN ESTATES, Ill.—Comparable-store sales for Sears Holdings, parent of Sears and Kmart, slipped 1.7 percent in December. The same-store total encompassed a six percent dropoff in comparable-store sales for Sears’ U.S. stores and a 2.3 percent same-store increase for Kmart. Increases in sales of home products helped boost the Kmart number, along with gains inMore »

J.C. Penney Promotes Three in Finance, Sourcing and Technology

J.C. Penney Promotes Three in Finance, Sourcing and Technology

PLANO, Texas–J. C. Penney Company has made a series of senior leadership promotions in its finance, sourcing and technology organizations. Those promotions include Michael Dastugue to executive vice president and chief financial officer; Ken Mangone as executive vice president of product development, design and sourcing; and Ed Robben as senior vice president and chief informationMore »