Retail

Sailing Innovation Wins Brookstone Auction

Brookstone

MERRIMACK, N.H.-Sailing Innovation, a consortium led by China-based Sailing Capital Overseas Investment fund, has been selected as the winning bidder at the auction for Brookstone. According to a Brookstone statement, the purchase price is $135.7 million, net of cash and assumed liabilities. Subject to the approval of the U.S. Bankruptcy Court for the District ofMore »

Morand Out as Gordmans Chief Merchandiser

Gordmans

OMAHA, Neb.-Michael Morand, executive vice president and chief merchandising officer of Gordmans, has resigned, according to a filing by the home specialty retailer with the U.S. Securities and Exchange Commission. Morand tendered his resignation on May 28, when it took effect. The filing said Gordmans’ merchandising team will report to T. Scott King, interim CEO,More »

Edward Finkelstein, former Macy’s Chief, 89

Edward Finkelstein

NEW YORK-Edward Finkelstein, who is credited with the creation of the highly successful Macy’s Cellar but who as chairman led the retailer to bankruptcy, has died. He was 89. Finkelstein’s death was confirmed by his son, Daniel, in a published report. He joined Macy’s in 1949 as a fabrics buyer, and rose through the ranksMore »

Saks Purchase Boosts Hudson’s Bay Q1

Hudson’s Bay

TORONTO-Fueled by its acquisition of Saks, Hudson’s Bay Co. posted net income of C$176 million (about $160.2 million) in its fiscal first quarter, compared to a net loss of C$82 million (about $80.4 million) in last year’s first quarter. The Saks acquisition, which closed last November, also drove Hudson’s Bay’s top line in the quarter,More »

Dollar General Q1 Net Up Slightly

Dollar General

GOODLETTSVILLE, Tenn.-While sales made a healthy gain in the quarter, rising expenses dampened the bottom line for Dollar General, whose net income edged up 1.1 percent to $222.4 million. Net sales totaled $4.5 billion, up 6.8 percent and including a same-store sales increase of 1.5 percent. Rick Dreiling, Dollar General’s chairman and CEO, noted thatMore »

Hayneedle Adopts Google Search Technology

Hayneedle

OMAHA, Neb.–Online home furnishings retailer Hayneedle.com, through a partnership with Google, has added Google Search Appliance to its shopping site. “With more than 600 million custom furniture combinations now available at hayneedle.com, we need a powerful search engine that helps us fulfill our commitment to providing the best online shopping experience in the industry,” saidMore »

Broader Named to Head Walmart EMEA Region

Shelley Broader

BENTONVILLE, Ark.-Walmart has promoted Shelley Broader, president and CEO of Walmart Canada, to executive vice president, president and CEO of Walmart EMEA. The move puts Broader in charge of retail operations in Europe, the Middle East and Sub-Saharan Africa. She retains her current responsibility over Walmart Canada, and reports to David Cheesewright, president and CEOMore »

Burlington Names Kingsbury Chairman

Thomas Kingsbury

BURLINGTON, N.J.-Thomas Kingsbury, president and CEO of Burlington Stores, has been unanimously elected chairman by the retailer’s board of directors. Kingsbury joined Burlington as CEO in 2008. A company statement credited him with providing “excellent strategic direction for the business, and he has used his leadership skills to build a strong team at the company.”More »