Retail

Best Buy Net Jumps 37 Percent in Fourth Quarter

Best Buy Net Jumps 37 Percent in Fourth Quarter

MINNEAPOLIS–Net income for Best Buy totaled $779 million in the fourth quarter, a whopping 37 percent ahead of the fourth quarter in its last fiscal year. According to a company statement, the consumer-electronics chain accomplished this partly on a net sales increase of 12.4 percent, to $16.6 billion—a pickup that included a 7 percent riseMore »

Housewares Show Exhibitor, Buyer Numbers Rise

Housewares Show Exhibitor, Buyer Numbers Rise

ROSEMONT, Ill.–Attendance and the exhibitor count both rose by double digits at the just-completed International Home + Housewares Show, according to a statement from the International Housewares Association, the show’s owner and manager. Exhibitors totaled 1,960, up 13 percent over last year’s Housewares Show—a figure that included 550 new exhibiting companies. Also, buyer participation roseMore »

Williams-Sonoma Net Up 625 Percent in Fourth Quarter

Williams-Sonoma Net Up 625 Percent in Fourth Quarter

SAN FRANCISCO–Net income for Williams-Sonoma skyrocketed by 625 percent in the fourth quarter, to $88.4 million. The company accomplished this result through significant improvements in sales and gross margin, and by slimming down selling, general and administrative expenses. Net revenues, counting both retail sales and direct-to-customer revenues, rose 8.1 percent to $1.1 billion, and grossMore »

Spectrum Brands’ Shares Begin Trading on NYSE

Spectrum Brands’ Shares Begin Trading on NYSE

ATLANTA–Spectrum Brands is listing its shares on the New York Stock Exchange beginning today. The stock will trade under the symbol SPB. The shares had been trading on the OTC Bulletin Board since September 2009, after Spectrum had finished a financial restructuring. Spectrum is the parent company of the Remington brand of personal-care products, andMore »

Shay to Lead NRF

Shay to Lead NRF

WASHINGTON–Matt Shay has been selected as president and chief executive officer of the National Retail Federation. Shay’s formal election will take place at the NRF board of directors meeting on June 22. He succeeds Tracy Mullin, who is retiring after serving as NRF president and CEO for 17 years. Shay is joining NRF after servingMore »

Six Permanent Showrooms Renew Leases at Forty One Madison

Six Permanent Showrooms Renew Leases at Forty One Madison

NEW YORK–Six of the most venerable names in the tableware industry—Devine Corp., Laurie Gates, Noritake, Over and Back, Riedel Crystal and Yamazaki—have renewed their permanent showroom leases at Forty One Madison.  “These global stalwarts are leaders in their categories,” said Laurie Burns, senior vice president and director of Forty One Madison. “Their commitments mark anMore »

Walmart Debuts “Affordable” Hometrends Line

Walmart Debuts “Affordable” Hometrends Line

BENTONVILLE, Ark.—The world’s largest retailer has unveiled Hometrends, a new line including bedding, bath, dining, furniture, home décor and accessories featuring modern design and nature-inspired materials.  The line is comprised of items such as decorative accessories for under $15, rugs starting at $11, bedding for $39 and dinnerware sets as low as $35.“The Hometrends lineMore »

Madonna, Iconix Team for License

Madonna, Iconix Team for License

NEW YORK–MG Icon, a newly formed joint venture between Iconix Brand Group and Madonna, announced its first direct-to-retail license agreement with Macy’s for the Material Girl fashion collection. Targeting juniors, the back-to-school apparel collection will launch in August. The strategy for growth will include additional categories in the lifestyle and beauty sectors, including fragrance inMore »