Retail

Alberini Named Co-CEO of Restoration Hardware

Alberini Named Co-CEO of Restoration Hardware

CORTE MADERA, Calif.–Restoration Hardware has appointed former Guess executive Carlos Alberini as co-chief executive officer and a company director. Alberini reports to Gary Friedman, the retailer’s chairman, who had been the sole CEO and who will now share that role with Alberini. The latter oversees the company’s finance, supply-chain, inventory, information-technology, stores and human-resources functions.More »

Chains Lose Ground in April Sales

Chains Lose Ground in April Sales

NEW YORK–As anticipated, same-store sales at the nation’s major retail chains backed up somewhat in April. Comparable-store sales at Kohl’s fell 7.7 percent last month from April of last year, while Target experienced a 5.9 percent loss in same-store checkouts and Dillard’s comp-store number fell back 5 percent. J.C. Penney reported a 3.3 percent downturnMore »

Brookstone Narrows First-Quarter Loss

Brookstone Narrows First-Quarter Loss

MERRIMACK, N.H.–Lifestyle retailer Brookstone posted a first-quarter net loss of $23.4 million, down from the net loss of $27.4 million in last year’s first quarter. The company boosted net sales by 13.5 percent to $69.7 million, and its gross margin gained 636 basis points to 17 percent. Selling, general and administrative expenses were up 5.7More »

Lifetime Reports Net Income of $729,000 For First Quarter

Lifetime Reports Net Income of $729,000 For First Quarter

GARDEN CITY, N.Y.–Lifetime Brands reported net income as $729,000 for the first quarter 2010, reversing its $6 million loss in the same period last year (which included $824,000 of restructuring charges). First quarter net sales for the year slipped slightly to $88.7 million, from $90.2 million last year. In its wholesale division, net sales alsoMore »

Hamilton Beach Net Jumps 143 Percent in First Quarter

Hamilton Beach Net Jumps 143 Percent in First Quarter

CLEVELAND–Net income for the Hamilton Beach unit of NACCO Industries rose 143 percent to $3.4 million in the first quarter. The housewares manufacturer accomplished this on an 8.9 percent pickup in net sales for the quarter, which totaled $102.6 million. The bottom line also included a boost from lower product costs and higher unit salesMore »

Remington Sales Boost Spectrum’s First Quarter

Remington Sales Boost Spectrum’s First Quarter

MADISON, Wis.–Global sales of Remington-branded products rose 12.1 percent in the fiscal second quarter of parent company Spectrum Brands, totaling $96.3 million. The sales rise helped the parent’s Global Batteries and Personal Care segment to an operating profit of $41.1 million, up 12.6 percent over last year’s fiscal second quarter. In its statement reviewing theMore »

Anna’s Linens Renews and Expands Credit Facility

Anna’s Linens

COSTA MESA, Calif.–Anna’s Linens has entered into a four-year secured revolving line of credit with Union Bank, which expands the retailer’s borrowing capacity during peak periods later this year. The agreement, which increases the company’s previous line of credit, provides for a borrowing capacity of $50 million for the period between Aug. 1 and Dec.More »

J.C. Penney to Slim Energy Use 20 Percent by 2015

J.C. Penney to Slim Energy Use 20 Percent by 2015

PLANO, Texas–J.C. Penney has set a corporate goal to reduce the energy consumption at its facilities by 20 percent per gross square foot by 2015. In a statement, the department-store retailer said it will reach this goal by improvements in energy efficiency and by accelerating its company culture, which advocates and practices conservation. J.C. PenneyMore »