MINNEAPOLIS–Next month, Target will launch its newest licensed line—Liberty of London for Target—which also marks the first time a Target collection has spanned so many categories, including home and gardening items, plus fashion and accessories for women, men, children and babies.
Evoking the long English heritage of bold patterns and florals for which Liberty of London is known, the line will include 25 unique prints and become available March 14 for a limited time at select locations.

NORTH PALM BEACH, Fla.–Focusing on eco-friendly products, WorldofGood.com launched a week ago, offering visitors products in such categories as home and garden, fashion and gifts, EcoFamily, EcoFood, natural beauty, green building and EcoAlternatives.
The site offers almost 1,000 products from more than 50 merchants, according to Roberta Modena, founder and partner. “We’re signing up new green merchants everyday.”

ROSEMONT, Ill.–Kip Tindell, chairman and chief executive officer of The Container Store, will deliver the keynote address at the upcoming International Home & Housewares Show.
Tindell will speak on “The Value of an Employee-First Culture During Tough Times.” His talk will begin at noon on Sunday, March 14, the opening day of the show, in room S100, the Grand Ballroom, of the South Building at McCormick Place, where the show will take place.

FRANKFURT, Germany–A story in yesterday’s news briefs about this summer’s Tendence fair listed the wrong dates for the event. The correct dates for Tendence are Aug. 27-31.

MERRIMACK, N.H.--Brookstone reported net income of $55 million for its fiscal fourth quarter, turning around from a fourth-quarter loss of $117.4 million from one year ago.

This has not been a funny year. There has not been much to laugh about for the millions of people out of work, for those who have watched their personal financial situations deteriorate and for all the companies struggling to survive the worst economic period in several lifetimes. So, in this annual ritual of suggesting special presents for special people in the business, it wouldn’t be wrong to wish everyone a better 2010 and be done with it. In fact, I’ll go on record as doing so right here and now.

The news a few weeks ago that Walmart had set up a huge sourcing infrastructure in Asia and that it was going to aggressively expand the amount of direct importing it was doing was not just massive: it was Walmartian massive.
I think in a few years the general merchandise industry will look back at this as a seminal moment in the history of retailing and supply chain management. For 2010 was the year Walmart changed all the rules.

WASHINGTON–Import volume at the nation’s major retailer container ports will jump 25 percent in the first half of this year versus 2009, according to an estimate from the National Retail Federation.

ISSAQUAH, Wash.–Costco Wholesale Corporation has appointed Craig Jelinek president and chief operating officer, effective immediately.
Jelinek previously was executive vice president in charge of merchandising, a position he has held since 2004. He spent the previous 20 years in various management positions in warehouse operations. Jelinek will join the Costo board of directors.

JACKSONVILLE, Fla.–Brian R. Morrow has been appointed executive vice president and chief merchandising officer of Stein Mart.
Morrow has more than 25 years of merchandise experience, most recently as senior vice president and general merchandising manager at Macy’s West. He previously served in that position at Mervyn’s and Macy’s North/Marshall Field’s, with earlier positions at Robinsons-May/Meier & Frank. Morrow will have responsibility for Stein Mart’s entire merchandising and planning/allocation complex when he assumes his new position on Jan. 31.

NEW YORK–The Conference Board’s Consumer Confidence Index reached 55.9 this month, up 2.3 points from its December reading.

LEXINGTON, Ky.–The final quarter of the year brought a 129 percent jump in net income for Tempur-Pedic, to $29.1 million.
The mattress manufacturer accomplished this largely on the basis of a 29 percent gain in net sales, which finished the quarter at $244.8 million, thanks to significant increases on both the domestic and international markets. This pickup produced a gross-profit increase of 46 percent, which helped offset increases of 31 percent in selling and marketing expenses, and 23 percent in general, administrative and other expenses.

HIGH POINT, N.C. -- Home Meridian International, parent company to Pulaski and Samuel Lawrence, has purchased selected assets of PRI, Prime Resources International, a Chicago-based furniture supplier. Terms were not disclosed.

NEW YORK–Specialty retailer Moss has begun the new year with a new look, having completed its five-day renovation of its store in New York’s SoHo. Its painted walkways are gone and have been replaced by islands of low-floating corian platforms that allow a different access to the work on display. An illuminated crucifix stands in juxtaposition with the neon Moss logo in the window, and new merchandise will soon include a Flos lighting shop in the gallery space later this quarter.

NEW YORK–Shabby Chic, the iconic brand known for its blend of English elegance and California casual, is returning to the wholesale home furnishings world with new programs with Guildmaster and Miles Talbott that will debut to the trade this April at the High Point Market.

NEW YORK–Diane von Furstenberg is homeward bound.
The legendary fashion designer has signed up with Springs Global to do a new line of home furnishings products, including, bedding, bath and tabletop that will debut in spring 2011. The trade will get its first look at the products this spring.

LOS ANGELES–Ares Management and Ontario Teachers Pension Plan, co-owners of Serta, have finished their acquisition of Simmons.

ECULLY CEDEX, France.–Groupe SEB reported its sales for 2009 totalling $4,489 million, or a decline of 1.6 percent, and a slight increase at constant exchange rates.
Its North American business, which includes the U.S., Mexico and Canada, fell 11.4 percent in current exchange rates, or 12.6 in constant exchange rates, for 2009 sales of $493 million. It said that the end of 2009, and December in particular, saw a “sharp upswing in business in several of the group’s major markets,” according to a release, after a “lackluster” third quarter.

HOFFMAN ESTATES, Ill.–James Haworth has been named executive vice president and president of the retail services unit of Sears Holdings.
Haworth, who will begin in this post on Jan. 31, will be responsible for the oversight, leadership and strategic growth of retail services for all Sears and Kmart stores. He will report to the board of directors of the retail services unit, and will join both this board and the board of directors for Sears Holdings.
Haworth will succeed Kevin Holt, who has left the company.

WASHINGTON–Although U.S. retail sales dipped in December from the prior month, they finished ahead of December 2008 as indications continue to show that the economic downturn is lifting.
According to the U.S. Census Bureau, total U.S. retail sales were $353 billion last month, down 0.3 percent from November but up 5.4 percent from December of the previous year. Sales at general merchandise stores totaled $50 billion in December, a decrease of 0.8 percent from November but an increase of 2.1 percent from December 2008.

CINCINNATI–Macy’s plans to launch enhancements to its online wedding and gift registry on Feb. 1.
On that date, according to a statement from the retailer, the hosting and management of the online wedding and gift registry will begin a transition to Macys.com from WeddingChannel.com. Existing registries at Macy’s will remain in place and will not be affected by the transition, the statement said. Registered couples and their guests will access registries through Macys.com, and newly engaged couples can register for their upcoming weddings on Macys.com as well.

NEW YORK–HFN is preparing its coverage of the International Home & Housewares Show in March.
Exhibitors at the show are invited to submit information and high-resolution images of products that they plan to highlight.

WASHINGTON–Import cargo volume at the nation’s retail container ports is set to make gains through the first half of 2010, according to the monthly Global Tracker Report from the National Retail Federation and consulting and research firm Hackett Associates.

EL PASO, Texas–Net income for Helen of Troy’s third fiscal quarter jumped 67 percent to $24.7 million.

LAS VEGAS–December revenue for Best Buy totaled $8.5 billion, 13 percent ahead of December 2008, according to a statement issued by the retailer at the Consumer Electronics Show here.

NEW YORK–The nation’s major retail chains reported a generally upbeat December in releasing their sales totals for the month.
On the discounter side, Kmart, Target and TJX all finished last month in the black in terms of its same-store sales. Kmart’s 5.3 percent gain in same-store sales was part of a statement from Sears Holdings, its parent company, which reported same-store sales for both Kmart and Sears stores for the first time in some time. TJX posted a robust 14 percent comp-store pickup, while Target’s same-store count edged up 1.8 percent.

ITASCA, Ill.–Enesco appointed Stephen Zaruba to the position of senior vice president and chief financial officer.
Zaruba will also serve as a member of the Enesco Executive Management Team, reporting to Bill Guarisco, executive vice president of Enesco, LLC.
Zaruba joins Enesco from Compact Industries, a supplier to consumer product manufacturers, where he had been chief financial officer since 2006. His previous experience includes 20 years in accounting and corporate finance with the Sara Lee Corporation.

CINCINNATI-Macy’s said it plans to close five stores as part of its effort to slim down on underperforming locations.
The stores are located in Boise, Idaho; Waterford, Mich.; St. Ann, Mo.; Missoula, Mont., and Burlington, N.J.

BENTONVILLE, Ark.–Attention Walmart suppliers and competitors: You ain’t seen nothing yet.
A new published report says the giant retailer is going to dramatically increase the amount of direct importing it does, going from less than 20 percent of all goods to as much as 80 percent over the next five years.
Watch our new video to see what it means for retailers and vendors alike: http://hfnmag.com/.

JESSUP, Md.–Classic Sleep Products has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Maryland, in an effort to restructure its ownership.

NEW YORK -- Maybe the Grinch didn't steal Christmas after all.

While there is still an all-important week left in the holiday shopping season, early numbers coming out after the post-Christmas weekend seem to suggest that the industry will eke out small gains.

NEW YORK-Iconix has reached an agreement with The Licensing Co., a London-based licensing agency, through which it has formed a new subsidiary, Iconix Europe.

BENTONVILLE, Ark.–Eduardo Solórzano, president and chief executive officer of Walmart de Mexico has been named executive vice president, president and CEO of Walmart Latin America.
In his new position he will oversee Walmart’s operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua and Puerto Rico.
Scot Rank will succeed Solórzano as president, CEO of Walmart de Mexico. Rank was Walmart de Mexico’s executive vice president and chief operating officer.
Solórzano was also named chairman of the board of Walmart de Mexico.

HOFFMAN ESTATES, Ill.–Sears Holdings has debuted the Sears Personal Shopper application for iPhones.
The application enables shoppers to speak with Sears staff about products and to make purchases on their phones. Users can take a picture of a product from anywhere, and then send the image to Sears personal shopper agents, who then find the item and then contact the user via the phone or email. In addition, the application allows shoppers to call in requests for a product instead of sending a photo.

SAN DIEGO–Sol Price, founder of Price Club and widely considered the inventor of the warehouse-club concept, died on Monday. He was 93.
Price began his retailing career in 1954 when he opened the first FedMart, a discount store with membership confined to government employees. In 1976, he and his son Robert founded Price Club, opening the first club here. The chain grew to 94 clubs in the United States, Canada and Mexico, with 1992 sales of $6.6 billion.

EXTON, Pa.–HomeStyle and Ivystone Group, two home decor-products sales agencies, will merge on Jan. 1 and combine for a showroom at the AmericasMart building in Atlanta.
According to a statement from the two agencies, the joined company will maintain the two names, with HomeStyle serving as the brand for home-accents and lifestyle products and Ivystone the brand for gift products. The company will have more than 150 field sales representatives and 20 key-account representatives. Along with the AmericasMart space, the company will have showrooms in Dallas, Chicago and Las Vegas.

ISSAQUAH, Wash.–Net income for Costco in its fiscal first quarter totaled $266 million, up 1.1 percent from last year’s first quarter.
Net sales for the warehouse-club chain rose 5.5 percent to $16.9 billion, but so, however, did its expenses. Selling, general and administrative expenses increased by 6 percent, and cost of goods sold rose 5.6 percent.

NEW YORK–With cotton in low supply throughout the world, cotton futures prices have headed drastically northward in recent months—and appear to be headed even higher in the very near term.

CHARLOTTE, N.C.-Belk posted net income of $400,000 in the third quarter, reversing the $23.5 million net loss the department-store retailer reported in the third quarter of last year.

HIGH POINT, N.C.–Vernon Distribution Services, which operates a 210,000-square-foot warehouse and distribution facility here for the furniture industry, has been bought and taken on a new name, Furniture City Warehouse and Distribution.
Partners Kristen Kochekian and Michael Kochekian bought the company from previous owner Kent Vernon according to the announcement this week. Terms were not disclosed.

Having survived the past four days—heretofore referred to as Black Weekend—it’s safe to say that there are several observations to be made on what the traditional kickoff to holiday shopping means for the balance of the season.
1. There are no meaningful observations to be made on what the traditional kickoff to holiday shopping means for the balance of the season. The past four days are only meaningful about the past four days.

NEW YORK-The consumer confidence index gained 0.8 point in November’s survey, finishing at 49.5.
According to The Conference Board, which provides the indicator each month, the slight pickup owed to somewhat rosier expectations for the U.S. economy’s future among the 5,000 households surveyed for the index.

BENTONVILLE, Ark.–Walmart will attempt to boost traffic in its stores and on its Web site during Thanksgiving with an offer of “unbeatable prices” on various products, including home items, according to a statement from the world’s largest retailer.

BOTANY, Australia–The board of directors of Breville Group, the parent company of Breville USA, has rejected a takeover offer from GUD Holdings.
GUD is an Australian manufacturer of small appliances, cleaning hardware, auto parts, water products and security products.

HOFFMAN ESTATES, Ill.–Sears Holdings reported a net loss of $127 million for the third quarter, down from the $146 million net loss it posted for the third quarter of last year.
The retail holding company said it was able to slim down the loss by trimming selling and administrative expenses by 2.4 percent, and through a 5 percent decline in cost of sales, buying and occupancy. This helped offset a 4.4 percent drop in revenues, which totaled $10.2 billion in the quarter.

EXTON, Penn.–HomeStyle, a home decor and lifestyle sales agency that will be spun off from OneCoast as of Jan. 1, 2010, plans to merge with Ivystone Group that day as well. As one company, HomeStyle will emphasize home accents and lifestyle products while the Ivystone Group will focus on the gift market.
The combined company will have more than 150 field sales reps and 20 key account reps, and operate showrooms in Atlanta, Dallas, Chicago and Las Vegas. In addition, Atlanta-based sales agency DTR will merge into Ivystone Group as well come January 1.

PLANO, Texas-J.C. Penney will no longer publish its twice-year “big-book” catalogs, and has moved to a marketing approach integrating smaller and more targeted specialty catalogs with stores, online applications and digital marketing platforms, including social media.
In a statement released this morning, the department-store retailer said it is discontinuing its “big books” partly because of consumers’ changing media habits, and partly due to its initiative to promote the sustainability of forests and other natural resources.

MONROE, Mich.-La-Z-Boy reversed a second-quarter loss from last year by posting net income of $5.7 million in this year’s second quarter.
The furniture manufacturer and retailer sliced selling, general and administrative expenses by 16.6 percent and reported a drop of 16.2 percent in total cost of sales. In addition, La-Z-Boy’s interest expense was cut nearly in half. All of this combined to offset a 9.4 percent fall in net sales for the quarter, which totaled $300.7 million.

NEW YORK- Almost one out of every five consumers —17 percent — plan to use social media such as Twitter and Facebook during their holiday shopping this season, according to Deloitte’s 24th annual holiday survey of retail spending and trends. Of those, 60 percent will use social media to find discounts, coupons and sale information, and 53 percent will research gift ideas using social media.

MINNEAPOLIS-Third-quarter net income for Target totaled $436 million, up 18.4 percent from the third quarter of last year.
Net sales edged up 1.4 percent in the quarter, reaching $14.8 billion, with same-store sales slipping by 1.6 percent. Selling, general and administrative expenses were virtually break-even in the quarter, rising by just 0.3 percent; while cost of goods sold increased 1 percent.

LITTLE ROCK, Ark.-Dillard’s turned a red bottom line into black in the third quarter, reporting $8 million in net income as opposed to a net loss of $56 million in last year’s third quarter.

CHICAGO-BDO Seidman has forecast a 1.8 percent increase in sales for this year’s Black Friday (the day after Thanksgiving) and Cyber Monday (the first Monday after Thanksgiving).

WASHINGTON—U.S. retail sales totaled $347.5 billion in October, 1.7 percent ahead of the September total, according to figures from the U.S. Bureau of the Census released this morning.
Excluding sales of automobiles and auto parts, retail sales were up just 0.2 percent last month. Sales at U.S. department stores (excluding leased departments) were 0.3 percent higher than in September, finishing the month at $15.6 billion. The total figure was 1.7 percent down from October 2008.

MOORESVILLE, N.C.—Third-quarter net income for Lowe’s finished at $344 million, 29.5 percent down from the third quarter of last year.
The home-improvement retailer’s net sales for the quarter totaled $11.4 billion, a 3 percent decline from a year ago, which included a same-store sales decrease of 7.5 percent. In addition, total expenses rose 4.8 percent, including a 5.4 percent increase in selling, general and administrative expenses.

MENOMONEE FALLS, Wis.–Net income for Kohl’s finished the third quarter at $193 million, 21 percent higher than in the third quarter of last year.
The department-store retailer accomplished this on a gain of 6.5 percent in net sales, which totaled $4.1 billion in the quarter. This pickup, which included a same-store sales boost of 2.4 percent, offset a 4.6 percent increase in selling, general and administrative expenses, and a 5.5 percent increase in cost of merchandise sold.

ST. PETERSBURG, Fla.–Even though net sales fell 5 percent, HSN enjoyed a 24 percent increase in its net income in the third quarter, to $18.6 million.

NEW YORK–Target will offer Chefmate small electrics for $3 on Black Friday, according to a circular obtained by gottadeal.com.
The offer includes Chefmate-branded slow cookers, coffeemakers, sandwich makers and toasters. It’s part of a broad offering of Target merchandise at lower prices, designed to increase store traffic on the critical shopping day after Thanksgiving, according to press reports.

NEW YORK–Warehouse giant Costco has opened its first Manhattan store. Located on 117th Street, the store is 110,000 square feet—50 percent smaller than its average store—according to online reports.

CINCINNATI–Scripps Networks Interactive will launch the Food Network in Asia on Jan. 1, 2010. Programming will include both original content from Asian countries, as well as shows produced for the U.S. market.

CINCINNATI-The third-quarter net loss for Macy’s totaled $35 million, down from the $44 million loss the department-store retailer posted in the third quarter of last year.
The company sliced away at expenses in the quarter, cutting selling, general and administrative expenses by 2.5 percent and net interest expense by 4.2 percent. Cost of goods sold also fell by 2.2 percent. These declines helped offset a 3.9 percent drop in net sales, which finished the third quarter at $5.3 billion.

GONZALES, La.-Net income for Crown Crafts finished the second quarter at $803,000, down 22 percent from the company’s fiscal second quarter of last year.
Net sales for the infant/toddler consumer products manufacturer totaled $21.7 million in the quarter, a decline of 8.6 percent from the year-ago second quarter.
“Weakness in retail demand in our core business persists, and our customers remain reluctant to rebuild their inventory levels,” said E. Randall Chestnut, chairman, president and chief executive officer, in a Crown Crafts statement.

NEW YORK-Metropolitan Home is the latest shelter magazine to close.
December will be Metropolitan Home’s last edition as it joins magazines Domino, House & Garden, Cottage Living, Home, O at Home, Country Home and Martha Stewart’s Blueprint, which have all closed in the last two years.

NORTH CANTON, Ohio–BargainsDealsAndCloseouts.com debuts online today, offering merchandise such as housewares, clothing, electronics and more.
The Web site has an “Indiana Jones style warehouse” setting and spokesperson Jeff Weyrauch “puts a funny spin on products in the spirit of Saturday Night Live,” according to a release from the company.
Shipping and handling is free for most items, and most of the merchandise will ship in less than 24 hours, the company said.

CLEVELAND–Third-quarter net income for Hamilton Beach totaled $6.9 million, 431 percent ahead of the third quarter of 2008.
According to a statement from NACCO Industries, the housewares brand’s parent company, Hamilton Beach’s bottom line benefited from reduced product costs, increased sales of higher-priced and higher-margin products, lesser freight costs and the brand’s cost-containment initiatives. All of these factors offset a 14 percent drop in sales for the quarter, which totaled $118.9 million.

ATLANTA-The Federal Trade Commission has given its go-ahead to the deal in which Ares Management and Ontario Teacher’s Pension Plan, the owners of Serta, would acquire Simmons.
FTC has granted an early-termination order under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 to both Ares and Ontario Teachers. According to an FTC spokesman, this means that the commission has found that the deal, which would put the numbers two and three U.S. mattress manufacturers under the same ownership, does not violate antitrust standards.

WASHINGTON–September sales of new homes dropped 3.6 percent from the August level, to a seasonally adjusted annual rate of 402,000, according to figures from the U.S. Census Bureau.

RYE BROOK, N.Y.–Consumers surveyed for the eBillme Online Spending Index said they would spend an average of $281 online during the fourth quarter—up 24 percent over the third quarter and the first quarterly increase in this indicator this year.

NEW YORK–Third-quarter net income for Iconix Brand Group rose 25 percent to $20.5 million, setting a new earnings record for the brand-management company.
Revenue also set a record in the quarter, totaling $59.4 million or 8 percent higher than in the third quarter of 2008. This was enough to offset a 13.3 percent increase in selling, general and administrative expenses. Neil Cole, chairman and chief executive officer, said Iconix demonstrated the ability to achieve “positive organic growth and record earnings” despite the challenges presented by the economy.

BENTONVILLE, Ark.—Walmart will plow resources into building new stores and remodeling existing stores in the United States, and in expanding its international reach in the coming year.

BENTON HARBOR, Mich.-Third-quarter net income for Whirlpool totaled $87 million, down 47 percent from the third quarter of last year.
The appliance giant’s bottom line suffered from an 8 percent drop in net sales, which were $4.5 billion for the quarter, a negative figure for interest income and a rise in interest expense. These combined to offset a 16 percent reduction in selling, general and administrative expenses and an 8 percent drop in cost of goods sold.

MINNEAPOLIS-Third-quarter net income for Select Comfort grew 600 percent to $6.9 million. The manufacturer/retailer accomplished this by slashing total operating expenses by 15 percent, which included a 20 percent reduction in expenses for sales and marketing, and a 22 percent cut in expenses for research and development. Along with a 4.3 percent downsizing of cost of goods sold, these decreases helped overcome a 6 percent decline in net sales for the quarter, which totaled $147.5 million.

PLANO, Texas–J.C. Penney’s sustainability efforts have been acknowledged by both the Dow Jones Sustainability Index (DJSI) and Newsweek. DJSI North America included the retailer on its 2009 index, which includes the top 20 percent of the 600 largest companies in North America for corporate sustainability. In addition, J.C. Penney placed No. 44 in Newsweek’s inaugural Green Rankings, which selected the 500 “Greenest Big Companies in America.”

NEW YORK-During October, the 25th anniversary of Breast Cancer Awareness Month, MacKenzie-Childs will donate 10 percent of sales of all of its products with the word pink in the name to the Continuum Cancer Centers’ Breast Reconstruction Fund.
“We are pleased to support the important work of this organization in the fight against breast cancer,” said Lee Feldman, chief executive officer of MacKenzie-Childs. “From Pink Fish rugs and Pink Honeymoon dinnerware to our Pink Diva chair—we have more than 70 pink products that will contribute to this fundraising effort.”

WASHINGTON-Housing starts totaled 590,000 units on a seasonally adjusted annual basis in September, up 0.5 percent from August, according to data from the U.S. Census Bureau.

NEW YORK–Investor Carl Icahn has sent a letter to the board of directors of CIT Group offering to underwrite a $6 billion loan to the troubled financial-services firm.
In a company statement, CIT acknowledged the receipt of Icahn’s letter, and said it intends to ask the investor for more information on his proposal. The statement did not comment on the terms of Icahn’s offer, or on press reports stating that Icahn is seeking a change in CIT’s board of directors.

GREENSBORO, N.C.–In response to the changes in consumer products marketing, customer service and information technology, Women in the Home Industries Today (WithIt) will hold its first symposium, titled “Corporate Strategy, Integration & Investment in Social Media,” on Jan. 13, 2010.
Scheduled from 1 to 5 p.m. at the Greensboro/High Point Marriott, the event will include an overview by Emily Riley, senior analyst, Forrester Research, who will talk about online digital behavior and marketer activity, tools and terminology and how to begin implementing a program.

NEW YORK–On the heels of the recent closures of its Modern Bride and Elegant Bride magazines, Conde Nast has increased the frequency of Brides to 12 issues a year.
Concurrently, Carolyn Kremins has joined Brides in the role of vice president and publisher. Kremins was publisher of Cookie magazine, which has also folded.

PITTSBURGH–OneCoast said it will separate its sales rep group into two companies to better focus on its retailer customers, and will launch a new company named SnapRetail to enable independent retailers to more easily buy and sell their product lines.
OneCoast’s two national groups, ND ONE and OneCoast Collegiate, will operate under the OneCoast name. The Home Décor & Lifestyle sales team, renamed HomeStyle, will represent home, lifestyle & gift lines on a regional basis. The Key Account Team will be part of HomeStyle.

LAS VEGAS–Consumers are interested in purchasing sustainable home furnishings as long as the price is comparable to other like products, according to the 2009 Green Home Furnishings Consumer Study.

WINSTON-SALEM, N.C.—Seventy-two percent of economists who participated in a study by Wake Forest University said a Walmart store generates more benefits to society than costs.

OMAHA—Pamida Stores has named John Harlow as president and chief executive officer, replacing chief merchant and interim chief executive officer Ken Seipel. Most recently at Circuit City as executive vice president and chief operating officer, Harlow has more than 25 years of retail experience, including positions at A&P, Toys R Us, Genovese Drug Stores and Jamesway. He has also held senior positions at Deloitte Consulting and Andersen Business Consulting.

EL PASO, Texas–Second-quarter net income for Helen of Troy rose 50.1 percent to $15.9 million.
The company managed this bottom-line surge on a gain of 5.6 percent in net sales for the quarter, which totaled $162.2 million. This pickup included a 7.3 percent increase in sales for the company’s housewares segment, and a 4.9 percent rise in sales for the personal-care sector. Helen of Troy also shaved 4.1 percent off its selling, general and administrative expenses, while cost of goods sold increased on a dollar basis but slipped as a percentage of sales by 10 basis points.

SEATTLE–With all of this talk about bringing newness to market, Sur La Table is bringing some old.
It’s a return to Sur La Table’s roots, a spokesperson said, and because selling them in the stores would be impossible due to the numerous locations, the Web site is ideal.
Yesterday on its Web site, the retailer launched the European Antiques Collection, which includes such items as a set of antique Christofle silver knife rests, a silver Parisian cake serving set, a marzipan tulip mould, and a number of well-used copper cookware pieces.

ALEXANDRIA, Va.–U.S. dollar sales of mattresses lost 13.3 percent in August, totaling $227.6 million, according to figures from the monthly Bedding Barometer provided by the International Sleep Products Association.

ATLANTA–Ares Management and Teachers’ Private Capital—the owners of National Bedding Co., producer of Serta branded mattresses—have struck a deal with Simmons to acquire the nation’s second largest mattress manufacturer.

UNION, N.J.–Net income for Bed Bath & Beyond finished the second quarter up 13.7 percent over the second quarter of a year ago, at $135.5 million.
The retailer accomplished this based on a net sales increase of 3.3 percent, to $1.9 billion, and a reduction in selling, general and administrative expenses of nearly 1 percent. Same-store sales slipped by 0.6 percent in the quarter. Operating profit jumped by 18.5 percent, while gross profit rose by nearly 5 percent.

CARLSTADT, N.J.–With designers—and designing—becoming more digital, Pantone has released a color palette application, called myPANTONE for Apple’s iPhone so designers can capture, create and share Pantone color palettes wherever they go.

WASHINGTON–U.S. retailers reported the first month-over-month gain in sales in six months in August. Excluding sales of motor vehicles and auto parts, sales rose 1.1 percent to $287.2 billion on a seasonally adjusted basis.
This includes a 2.4 percent gain posted by the nation’s department stores, whose checkouts totaled $15.8 billion when adjusted for the season.

LOS ANGELES–PEM America and actress/author Jenny McCarthy have formed a collaboration on a collection of non-toxic infant and juvenile home furnishings.
The partnership was developed and negotiated for McCarthy by Brand Sense Partners, a business-development consultancy. The line, trademarked as TOO GOOD by Jenny, includes bedding, bath textiles, room-decor products and newborn gift sets.

HOFFMAN ESTATES, Ill.–With its arrangement with Martha Stewart Living in its final months, Kmart said it is making “substantial strides” in broadening its portfolio with other brands in its home department.

WASHINGTON–U.S. housing starts finished August at a seasonally adjusted annual rate of 598,000, 1.5 percent ahead of the revised July estimate of 589,000, according to figures released this morning by the U.S. Census Bureau.

AT THE LAS VEGAS MARKET–Boyd Tasker has joined Las Vegas Market Center as director of leasing, reporting to Philip McKay, senior vice president. Tasker has relocated to Las Vegas from Chicago, and his categories of coverage are still being determined.
Tasker’s previous positions include serving as executive director of sales at Whereoware, and publisher of Home Decor Buyer.

NEW YORK–Emanuel Weintraub Associates’ conference “Doing Business in the New Normal,” scheduled for Nov. 4, 8 a.m., at the Harvard Club has announced its expert panel for the event.
Scheduled to appear at the conference are Allen Questrom, past head of J.C. Penney, Macy’s and Neiman Marcus; Stephen Sadove, chairman, Saks Fifth Avenue; Susan Lyne, chief executive officer, Gilt Group; and Jeff Klinefelter, senior market analyst, Piper Jaffrey.

NEW YORK–Springs Global will move its showroom from its long-time location at 111 W. 40th St. to 110 Fifth Ave. in time for next year’s New York Home Fashions Market in March 2010.

BROOKLYN, N.Y.–Brooklyn designer Malene Barnett will launch her new line of custom handmade area rugs and carpets at the Hospitality Design Boutique Show in Miami, Sept. 14 and 15. Called malene b, the company will reflect Barnett’s international travels, interpreting cultural icons, landscapes and rituals. She specializes in Tibetan hand-knotted wool, New Zealand hand-tufted wool and wool/silk options, and targets residential, commercial and hospitality markets.

SAN FRANCISCO–Zocalo, the furniture company that built itself on a reputation of design at a price, has been acquired by FurnitureOrigins, an international furniture company with a strong importing heritage.
Terms for the deal were not announced and Zocalo will continue to operate under its own name with existing management and sales force, headed by Jeremy Sommer, president.

WAYNE, N.J.–Russ Berrie and Company Inc. plans to change its corporate name—subject to shareholder approval later this month—to Kid Brands Inc.
The new name will better reflect the company’s shift and growth strategies targeting the global infant and juvenile product market, the company said. It would continue to market its branded products primarily under the brand names of its subsidiaries—Kids Line, LaJobi, Sassy and CoCaLo—as well as offer programs under select licenses such as Carter’s, Disney, Graco and Serta.

NEW YORK–The back-to-school season failed to shake the nation’s major retailers out of their slump.
The department stores continued to be the worst-performing channel, with same-store sales down 7.9 percent for J.C. Penney, off 8.1 percent for Macy’s and down a whopping 12 percent for Dillard’s. Only Kohl’s managed to boost its comparable-store sales by a meager 0.2 percent.

MINNEAPOLIS–Select Comfort has requested a recount of the shareholder votes regarding the proposed stock purchase by Sterling Partners.

ALEXANDRIA, Va.—U.S. sales of mattresses to retailers totaled $$236.5 million, 9.5 percent off from July 2008, as the industry continued its prolonged slide. The data came from the most recent Bedding Barometer from the International Sleep Products Association. On a unit basis, mattress sales also declined 9.5 percent to 759,066. The average unit selling price for the mattresses sold in July was $311.52, virtually dead even with the average price of the prior year.

MINNEAPOLIS—Best Buy said it is slating 22 new-store openings for its fiscal third quarter.
Among the new locations are one in Union Square in New York City and its fifth in Puerto Rico. The Union Square store will be Best Buy’s sixth in Manhattan, and “will provide a dominant and highly visible presence in the major transportation hub of lower Manhattan,” according to a company statement.

NEW YORK-The 7 W New York showroom building will offer a special certification program run by Allergy Standards Limited and the Asthma and Allergy Foundation of America during the September New York Home Fashions Market.

LAS VEGAS-The Las Vegas Design Center has launched a new Web site, LVDesignCenter.com.
The new site allows visitors to plan their visits to the center by providing a searchable online directory, online registering capabilities and a matrix featuring design-center showroom products, among other features. The online directory is searchable by showroom name and product type. Content on the new site also includes designer resources, contact information for local design organizations and an improved design-center events section and concierge page.

PITTSBURGH-OneCoast has added several home-products brands to its representation roster.
New to OneCoast’s offerings are Home Source International in northern California and the southeast; Immortalis Botanicals in the northeast, southeast, midwest and west; Fruits & Passion in northern California; Lazy Susan in the Rocky Mountains and the northwest; and Pomeroy in the northeast. Products from Home Source, Fruits & Passion and Lazy Susan are available on OneCoast’ Web site, onecoast.com.

ECULLY CEDEX, France–Groupe SEB reported a profit of $49.6 million, after income tax expense, for the first half of 2009, down from $82.6 million from the first half of 2008, the company said in a statement.
Revenue for the period was $1.97 billion, down from $2.04 billion in the first half of 2008.

MORRISTOWN, Tenn.–The owner of Berkline—a Sun Capital Partners affiliate—has invested an additional $6 million in the furniture company, which Berkline said will provide “further capital for growth and expansion of its product line.” The money will also be used to pay down debt.

CAMBRIDGE, Ontario–Natura World has purchased NexGel, a manufacturer of gel mattresses, and said it plans to expand in the category throughout North America.

BALDWYN, Miss.–Hancock Fabrics reduced its second-quarter net loss from $10.9 million last year to $2.3 million this year.
The improvement in results came from a combination of expense reductions and better management of the company’s balance sheet. Selling, general and administrative expenses were down 6.8 percent in the quarter, and cost of goods sold was lowered by 10.6 percent. In addition, Hancock has paid down $27.5 million in debt since exiting bankruptcy on Aug. 1, 2008, which sliced down its second-quarter interest expense by 61.5 percent.

NEW YORK–Purchases of energy-efficient home appliances will rise at a compound annual rate of 13 percent over the next five years, thanks to U.S. government funding for energy-efficient home renovations, according to a new study from Specialists in Business Information (SBI).

ALEXANDRIA, Va.–With Englander and Carpenter back in the association’s fold, Don Wright, recently named chairman of the International Sleep Products Association, said he would seek to better define ISPA’s mission, and would begin efforts to bring Sealy and Serta back as members.
The manufacturers, two of the top three manufacturers in the U.S. mattress industry, left the association several years ago. “We need their input,” Wright said in an interview with HFN. “I will be happy to just get a dialogue started with them.”

NEW YORK–Toray Ultrasuede (America) has formed a partnership with Design Within Reach to offer Toray’s full line of upholstery colors through the retailer’s Web site, dwr.com, and DWR Studios.

JACKSONVILLE, Fla.–Stein Mart posted net income of $1.5 million in the second quarter, as opposed to a $8 million net loss in last year’s second quarter.
The retailer accomplished this in spite of a 7.7 percent decline in its net sales, which totaled $287.5 million in the quarter. Stein Mart’s bottom line was bolstered by selling, general and administrative expense reductions of 19.8 percent, and from higher gross margin as a result of increased markups and reduced markdowns on store merchandise.

HOUSTON–Mattress Firm, the 500-plus store mattress retail chain, has selected FKM as its full-service agency of record.
FKM will provide strategic planning, broadcast-media planning and execution, creative execution and application, public relations and social media consultation for the Mattress Firm brand and its corporately owned stores. New creative concepts are scheduled to be rolled out at the beginning of the fourth quarter, according to a joint statement from Mattress Firm and FKM.

PHOENIX–“The Sweet Spot” is the name for a new aspenhome program that debuts next month in Las Vegas, featuring more than 500 individual products that address the value-conscious customer.
“Our research shows that there are popular prices that consumers are willing to pay for specific items and groups,” said Dave Heard, executive vice president of sales. “We have over 500 items that match or exceed those style expectations while hitting the right price points.”

NATICK, Mass.–Second-quarter net income for BJ’s Wholesale Club finished at $35.1 million, 4 percent less than the second quarter of a year ago.
Net sales for the warehouse-club chain fell 5.2 percent to $2.5 billion in the quarter, with same-store sales dropping 7.7 percent—a figure that included a decline in gasoline sales of 10.6 percent. Leaving gas out, comparable-store sales rose 2.9 percent. Among other key numbers, selling, general and administrative expenses rose 7 percent while cost of goods sold decreased by 6.4 percent.

JACKSONVILLE, Fla.–Veteran retail executive Robert Mettler has been appointed to the board of directors of Stein Mart.
Mettler, now retired, was chairman and chief executive officer of Macy’s West, a position he began in 2000. Prior to that, he served in a variety of executive posts including president of merchandising full-line stores for Sears and president and CEO of Robinson’s.
Currently, Mettler also serves on the board of Jones Apparel Group, the board of National Jewish Health and the board of trustees of the University of Virginia College Foundation.

ATLANTA—Second-quarter net income for The Home Depot totaled $1.1 billion, down 7.2 percent from last year’s second quarter.
Net sales for the home-improvement chain fell 9.1 percent to $19.1 billion in the quarter, which offset reductions of 7.8 percent in selling, general and administrative expenses and 9.6 percent in cost of sales. Same-store sales for the quarter took an 8.5 percent dive, including a 6.9 percent comp-store decline for Home Depot’s U.S. stores.

MONTES CLAROS, Brazil—Springs Global transformed a $7 million net loss from the second quarter of last year into net income of $11.4 million in this year’s second quarter.

NEW YORK—Reed & Barton, the long-time silversmith, has renewed its least on the seventh floor of Forty One Madison announced Laurie Burns, senior vice president and building director.

PRINCETON, N.J.—Therapedic and Artaban International have signed an agreement whereby Artaban will serve as Therapedic’s licensee for Mexico.
The agreement puts Artaban in charge of licensed Therapedic mattresses and other products for the entire nation of Mexico. Therapedic has been adding to its licensee roster recently. Among its new licensees are Pennsylvania Bedding of Old Forge, Pa., Cotton Belt Inc. of Pinetops, N.C., Regal Mattress of Orlando, Fla., SleepRite Industries of San Francisco, Everton Mattress of Filer, Idaho, and Winco of Carrollton, Texas.

PLANO, Texas–J.C. Penney posted a loss of $1 million in its fiscal second quarter, compared to net income in last year’s second quarter of $117 million.

BENTONVILLE, Ark.–Net income for Walmart was $3.5 billion, down by less than 1 percent from second-quarter net income from last year.

LAS VEGAS–The World Market Center will launch the Rep Rewards Program during the fall Las Vegas Market next month.

CINCINNATI–Macy’s reported $7 million net income for its fiscal second quarter, down 90 percent from last year’s second-quarter.
Net sales for the department-store retailer totaled $5.2 billion, off 9.7 percent from last year—which included a 9.5 percent drop in same-store sales. Macy’s chopped 8.6 percent from its selling, general and administrative expenses and 9.7 percent from its cost of sales. But these were offset by a more than doubling in the company’s income-tax expense and rises in other expense categories.

NEW YORK–Apache Mills and M&Z Marketing have taken showroom space at 7 W New York, in time to exhibit at the upcoming New York Home Fashions Market Week in September.
Apache Mills is moving into Room 428 of the showroom building, in which it will showcase its collections of consumer and commercial doormats made from recycled materials. M&Z, which manufactures bedroom and bathroom textiles, is taking the space in Room 535.

GONZALES, La.–Crown Crafts finished its fiscal first quarter with net income of $538,000, down 13 percent from last year’s first quarter.

MINNEAPOLIS–Select Comfort said it plans to sell its products only through its own distribution channels, which include its 420 company-owned stores, direct marketing and its e-commerce Web site.

DANBURY, Conn.–Ethan Allen will launch a new affiliate program for independent interior designers this fall.

DANBURY, Conn.–Ethan Allen Interiors has redirected its U.S. case-goods manufacturing operation to become a made-to-order business.

MINNEAPOLIS–Target will build and manage its own platform for target.com, the mass merchant’s Web site.
In a statement issued this morning, the retailer said it expects to launch new platform before the 2011 holiday season. Until this decision, the site’s platform had been designed, built and managed by Amazon.com under an agreement between the two companies. Steve Eastman, president of target.com, said it was in Target’s best interests to assume full control over the platform, fulfillment and services operations “to deliver a customized multichannel experience...”

INDIANAPOLIS–Specialty retailer hhgregg reported first-quarter net income of $1.5 million, 30 percent down from last year’s first quarter.
Net sales in the quarter fell 3.7 percent to $284.4 million, driven downward primarily by weak sales in hhgregg’s major appliances and video products. Same-store sales fell by 14.7 percent, while gross profit margin declined by 80 basis points and selling, general and administrative expenses as a percentage of sales rose 34 basis points.

CHICAGO–The new Garden Accessories Courtyard is set to debut at the Chicago Merchandise Mart in time for next month’s International Casual & Accessories Market.
The 10,000-square-foot area, sponsored by Hearth & Home magazine, will be home to exhibitors featuring decorative accessories, outdoor lighting, hearth products, tabletop, rugs, pottery, statuary and more. The International Casual & Accessories Market is scheduled for Sept. 21-24.

ST. PETERSBURG, Fla.–Second-quarter net income for HSN was $15.4 million on a non-GAAP basis, down 16 percent from the second quarter of last year.
Including adjustments, the television shopping-channel company’s net in the second quarter was $13.6 million, compared to a second-quarter 2008 net loss of $277.6 million. Under the GAAP measures, last year’s second quarter included $300 million in charges for good will and intangible asset impairment related to HSN’s Cornerstone lifestyle-brands segment.

CINCINNATI--Net sales of Procter & Gamble’s grooming products fell 9 percent in the company’s fiscal year ending June 30, pulled down by what a company statement described as a “sharp decline” in sales of Braun products.
Braun’s sales declined by double digits because of market contractions, trade inventory reductions and the exits of both the U.S. home-appliance and Tassimo coffeemaker businesses. The Braun dropoff offset more positive results from sales of P&G’s Gillette Fusion brand of premium-priced shavers and blades.

NEW YORK–The U.S. Securities and Exchange Commission wants to penalize former Kmart Chief Executive Officer Chuck Conaway $22.6 million for lying to investors about Kmart’s financial condition, according to a report from Reuters.
The report said that the SEC requested, in a filing with U.S. District Court for the Eastern District Court of Michigan, that the court ask for Conaway to return $13.7 million and impose an $8.9 million civil penalty on him.

NEW YORK–Iconix Brand Group’s net income in the second quarter set a new record for the brand-management firm of $21.3 million, up 29 percent from the second quarter of one year ago.

BOCA RATON, Fla.–Huntsman Gay Global Capital, a private equity firm, has purchased a stake in Hollander Home Fashions.
Jeff Hollander, executive chairman of the basic-bedding manufacturer, told HFN he could not disclose the amount of the investment or the size of the stake Huntsman Gay has acquired—or whether or not he is still the majority owner of the firm his grandfather, Bernard Hollander, founded in 1953. However, Hollander said he still has the final say in all decisions regarding the company.

NEW YORK–Royal Heritage Home has purchased the assets of Rainbow Linens, a marketer and distributor of bed-sheet sets.
Terms were not disclosed. Rainbow Linens’ product line includes high thread-count, single-ply sateen sets (800, 1,000 and 1,200 thread-count), flannel sheets, fleece sheets and specialty-size sheets for waterbeds and sofa beds. Bruce Tucker, founder and owner of Rainbow Linens, will remain with the company, as will key employees at the company’s facility in New Jersey.

NEW YORK–In the 107 year history of J.C. Penney it has done practically everything in retailing ... everything that is except for one thing: have a store in Manhattan.

WATERBURY, Vt.–Green Mountain Coffee Roasters, parent company of the Keurig line of single-serve coffeemakers, pumped up net income by 123 percent in its fiscal third quarter, to $14.1 million.

MERRIMACK, N.H.–Retailer Brookstone posted a net loss of $16.7 million in its fiscal second quarter, compared to a net loss of $8.7 million in its second quarter of last year.

NEW YORK–The Fortunoff and Mayrock families, who owned and operated Fortunoff before it was sold to private equity firms, have bought back the brand name and are considering various platforms to relaunch the brand.
Press reports said the families bought the brand name and related trademarks for about $1.8 million.
Long Island’s Newsday quoted David Fortunoff as saying that strategic options include e-commerce and product licensing, along with brick and mortar retailing.
Fortunoff has been liquidating its assets since it filed for bankruptcy in February.

AMSTERDAM, The Netherlands–Royal Philips Electronics has closed the acquisition of Saeco International Group, a deal that gives the industrial giant a foothold in the market for espresso machines.

NEW YORK–7 W New York will host the fifth annual New York International Carpet Show, a leading trade show of high-end decorative and Oriental carpets. Scheduled for September 20 to 22, the NYICS will run in tandem with the annual New York Market Week, September 21 to 25.

CINCINNATI–Macy’s continues to feel the pain of both its ongoing consolidation and the horrible retail buying environment, although it said the worst may be over on both fronts.
In issuing its first quarter results this morning, Macy’s reported a $255 million pre-tax loss, with just half of that coming from restructuring charges, the rest from operations. This beat Street estimates but is still larger than the quarter loss a year ago.
On the top line, sales dropped 9.5 percent, or 9 percent on a comp-store basis.

BENTONVILLE, Ark.–Walmart posted consolidated net income of $3 billion in the first quarter, dead even with its bottom-line total from the first quarter of last year.

MENOMONEE FALLS, Wis.–Kohl’s expects its sales to decline by from 1 percent to 4 percent in the second quarter.

BENTONVILLE, Ark.–Vicente Trius has been appointed executive vice president, president and chief executive officer of Walmart Latin America.
Information on who he is succeeding was not available.

ISSAQUAH, Wash.–Third-quarter net income for Costco dropped 29 percent to $209.6 million.

WASHINGTON–Existing-home sales for June rose 3.6 percent from its May level to 4.89 million units on a seasonally adjusted annual basis.
June marked the third consecutive month in which sales of existing homes headed upward, although the June figure was still 0.2 percent less than the number for June 2008. The gain has raised hopes that housing might have begun a comeback in the United States.

MINNEAPOLIS—Select Comfort posted a net loss of $4 million in the second quarter, compared to a $6.6 million net loss from the second quarter of last year.

RYE, N.Y.—Jarden reported a 4.4 percent gain in its second-quarter net income, to $44.9 million.
This figure included adjustments according to generally accepted accounting principles (GAAP) for costs related to reorganization, acquisitions, amortization and tax adjustments. Without these adjustments (non-GAAP), Jarden’s second-quarter net profit was $51.4 million, a decrease of 6.2 percent from non-GAAP net in last year’s second quarter.

CLEVELAND—Saeco has entered into a partnership with Easy2 Technologies for the development of product demonstrations for retailer Web sites.
Easy2 specializes in the development and distribution of rich-media interactive contact for the Internet. The firm offers a Make Your Own Demo option that Saeco will be using, which allows companies to create and syndicate product demos to unlimited retailers for a flat monthly fee, and without added costs per click or fees for minutes viewed.

NEW YORK–In a filing with the U.S. Securities and Exchange Commission, CIT said it may need to seek bankruptcy relief if the tender offer it announced for its outstanding floating-rate senior notes, due on Aug. 17, is unsuccessful.

BENTON HARBOR, Mich.–Second-quarter net income for Whirlpool came in at $78 million, 33.3 percent less than in the second quarter of last year.

NEW YORK The German porcelain maker Rosenthal has been purchased by Sambonet Paderno Industrie Spa, an Italian cutlery manufacturer.
Rosenthal has been in bankruptcy protection since January, following the bankruptcy filing of its majority shareholder Waterford Wedgwood.

YORKVILLE, N.Y.-Custom and decorative lighting designer and manufacturer Meyda Lighting has named Gardena, Calif.-based California Lighting + Components as its new sales agency in Southern California. Owned and managed by Debra Kelly, California Lighting + Components will market the entire Meyda line, as well as its custom capabilities, to lighting distributors, specifiers, designs and other industry professionals throughout the region.

WASHINGTON–In a sign that the real-estate market may be rebounding, both housing starts and residential building permits posted substantial gains last month, according to monthly figures from the U.S. Department of Commerce.
Starts came in at a seasonally adjusted annual rate of 582,000, up 3.6 percent over May, while permits registered a 563,000 seasonally adjusted annual rate, 8.7 percent ahead of May. Both numbers were still well below their June levels of one year ago, but this year’s June numbers marked the second month in a row of increases for both indicators.

BENTONVILLE, Ark.–Walmart plans to create a worldwide sustainable-product index that will serve as a single source of data for evaluating the sustainability of products.

HOFFMAN ESTATES, Ill.–Sears and Kmart will launch the Country Living home collection in stores and online beginning next month. The collection inspired by Country Living magazine, includes tabletop, home textiles, furniture and decorative items.

NEW YORK–Beginning this week, HFN’s Web site, HFNmag.com, will include video presentations.
The new addition to the site kicks off with a promotional video from AmericasMart for its July gift and rug markets.
In the future, there will be both editorial and promotional videos shown on the site as HFN continues to upgrade and improve its online edition.

NEW YORK–Salton Inc., the entity created by the merger of Salton and Applica last year, is not for sale, according to a statement from Harbinger Capital Partners, the company’s owner.
Harbinger issued the statement yesterday in response to press reports that said the company is on the block. The statement said that “both Salton and Harbinger remain committed to our long-term partnership and to the strategy of positioning the company as a leading marketer and distributor of a broad range of high-quality consumer products.”

PLANO, Texas–The first J.C. Penney store to be located in Manhattan is scheduled to open its doors on July 31.
The store will be in the Manhattan Mall at the corner of 6th Avenue and 33rd Street, near Herald Square and Penn Station. According to a statement from the department-store retailer, the store will measure 153,000 square feet on two levels, and will serve a customer base that includes New York City residents, commuters, business travelers and tourists.

STOCKHOLM, Sweden–Net income for AB Electrolux, the parent company of Electrolux North America, rose 564.6 percent in the second quarter, to $85 million.

COLUMBUS, Ohio–Steve Fishman, chief executive officer of Big Lots, has been designated Entrepreneur of the Year in the turnaround category for the South Central Ohio and Kentucky region by Ernst & Young.
According to a Big Lots statement, Fishman has led the retailer through a successful strategic repositioning targeted toward improved operating performance since he joined the company in 2005. He has focused on improving the quality and value of Big Lots’ merchandise offering, increasing brand recognition and maximizing the earnings potential of each Big Lots store.

FRIANT, Calif.–Two executive affiliations were listed incorrectly in yesterday’s story about the Specialty Sleep Association’s new governing board for its Green Initiative.
Ralph Rossdeutscher is not the president of Jeffco Fibres; he is president and chief executive officer of Natura World. Mark Lorusso is the vice president of Jeffco Fibres.

MINNEAPOLIS–Target has declared a quarterly dividend of 17 cents per common share, a 6 percent increase from the prior quarterly rate of 16 cents per common share.
The dividend will be payable on Sept. 10, 2009, to shareholders of record on Aug. 20, 2009, according to a Target statement. This will mark the company’s 168th consecutive dividend paid since October 1967, when Target went public.
Target now operates 1,698 stores in 49 states, along with its Web site, target.com.

NEW YORK–The nation’s major retailers posted significant downturns in sales in May, as it appears many consumers chose to stay home in spite of pickups in consumer confidence.

WILMINGTON, Del.–Consolidated Bedding, a licensee of Spring Air, has filed a Chapter 7 bankruptcy petition with the U.S. Bankruptcy Court here.
The filing is one of 20 cases began by Consolidated Bedding and its affiliates. In the filing, Consolidated identified itself as the sole shareholder and equity holder of Spring Air Co., Nature’s Rest Inc., and a number of other companies connected with Spring Air. Consolidated said in the filing that it and each of the other entities have been running at an operational loss “for at least the last year.”

MINNEAPOLIS–The Target shareholders have elected all four incumbent director nominees to its board, rebuffing an attempt by an activist shareholder to have his nominees chosen.
Mary N. Dillon, Richard M. Kovacevich, George W. Tamke and Solomon D. Trujillo all received new terms as directors of the mass merchant. In addition, shareholders voted to set the size of the board at 12 members. The vote was a denial of the move by Bill Ackman, chief executive officer of Pershing Square Capital Management, a hedge fund that owns stock in Target.

WASHINGTON–The U.S. Department of Energy has released program guidelines and funding for the Energy Efficient Appliance Consumer Rebate Program.

WASHINGTON–Sales at the nation’s general-merchandise retailers edged down 0.4 percent from May to June, to $49 billion on a seasonally adjusted basis.

TRINITY, N.C.–Sealy has finished its refinancing plan with its rights offering of senior secured convertible notes.
The rights offering totaled $177.132 million, and the company has applied to list the convertible notes on the New York Stock Exchange, according to a Sealy statement. Sealy also said it expects the listing to be approved this week, and that the notes will begin trading on the NYSE on July 20.

INDIANAPOLIS–Consumer electronics retailer hhgregg has updated its store-opening plans in connection with its accelerated growth strategy for 2010 and 2011.
The company said it now expects to open between 20 and 22 new stores in the current fiscal year (2010), up from its previous expectation for 16 to 18 new stores. For fiscal 2011, store openings are expected to reach between 40 and 45. Among the new markets hhgregg expects to enter over these two fiscal periods are Tampa, Fla.; Memphis, Tenn.; Richmond, Va.; Philadelphia, Baltimore and Washington.

ST. LOUIS–CCA Global Partners has sold its Rug Decor division to a group led by three of its current Rug Decor franchisees: Rick Ruby, Keith Rhodes and Bob Ellis, who own a total of six Rug Decor stores, and have been members of the Rug Decor Advisory Council since its inception in 2003.
The Rug Decor division was not central to CCA Global’s core flooring business or strategy, CCA Global said in a release, though it is “a unique retail format for selling area rugs with significant potential for success.”

SEATTLE–Amazon.com has launched its newest collection, Tom Douglas by Pinzon, an exclusive collection of kitchen utensils and tools, cutlery, cookware, grilling tools and wine accessories designed by Douglas, a Seattle chef, restaurateur and author.

ATLANTA–Urban Expositions has announced that it will acquire the San Francisco International Gift Fair and the Seattle Gift Show from dmg world media and the transition will take place following the August 2009 editions of the semi-annual shows. This follows dmg’s sale of the LA California Gift Show to Merchandise Mart Properties, Inc. two months ago. Dmg’s GLM division plans to continue running The Gourmet Housewares Show in conjunction with the San Francisco International Gift Fair, dmg said.

BOSTON–The new Spring Air has reached back to the old Spring Air to fill two executive positions.

TRINITY, N.C.—Sealy posted a net loss of $5.2 million in the second quarter, compared to net income of $12 million for the second quarter of last year.

STOUGHTON, Mass.–Consolidated Mattress and Amalgamated Mattress—the franchise operator of 1800mattress.com in New England, Philadelphia, central and southern New Jersey, and Florida—has challenged the proposed sale of the multichannel retailer to Sleepy’s.

CENTRAL ISLIP, N.Y.–Sleepy’s will pay $2.1 million in cash to acquire certain assets of 1800mattress.com, the multichannel retailer that filed an involuntary Chapter 7 bankruptcy petition at U.S. Bankruptcy Court here last week.

NEW YORK–Martha Stewart Living Omnimedia named Kelli Turner chief financial officer and executive vice president.
Turner will report to MSLO executive chairman Charles Koppelman, working closely with MSLO’s co-chief executive officers Robin Marino, president of merchandising, and Wenda Harris Millard, president of media. Turner succeeds Howard Hochhauser, who left the company in December 2008.

LONG ISLAND CITY, N.Y.–Sleepy’s has agreed to acquire certain assets of 1800mattress.com through Chapter 11 of the U.S. Bankruptcy Code.
1800mattress.com filed an involuntary petition in U.S. bankruptcy court in Central Islip, N.Y., under Chapter 7 yesterday—several days after Sealy and Blue Bell Mattress, a licensee of Comfort Solutions, filed a petition in this court to force 1800mattress into liquidation. Later, the court issued an order converting the case to Chapter 11.

TUCSON, Ariz.–Executives from Walmart, Calvin Klein and Saks, among other companies, will discuss the impact of shifting consumer attitudes on the retail industry at the Global Retailing Conference 2009 from April 2-3 at the Westin La Paloma Resort & Spa here, organized by The Terry J. Lundgren Center for Retailing at the University of Arizona.
John Fleming, executive vice president and chief merchandising officer of Walmart, will speak during a presentation entitled, “Retail: Business of Managing Consumer Change.”

OAKLAND, Calif.–Cost Plus saw its sales fall and net loss widen for the quarter ended Jan. 31.
Sales fell 3.9 percent to $354.8 million. Same store sales dropped 6.1 percent.
The net loss swelled to $18.3 million from a loss of $12.5 million in the year-ago quarter. The results included impairment charges from the reduction of inventory, layoffs and store closures.

PLEASANTON, Calif.–Off-price chain Ross Stores reported fourth quarter top-and-bottom-line gains, fueled in part by the glut of closeout buys on the market, Michael Balmuth, the retailer’s chief executive officer, said in a statement.
Net earnings for the 13 weeks ended Jan. 31 grew to a record $97.4 million, up from $94.5 million in the year ago quarter.
Sales rose 5 percent to $1.73 billion. Comparable store sales slipped 1 percent.

LOS ANGELES–Shabby Chic, the chain of home-furnishings stores operated by Rachel Ashwell Designs, has been authorized to conduct liquidation sales, according to published reports.
Rachel Ashwell Designs has been in Chapter 11 bankruptcy protection, having filed with bankruptcy court hear on Jan. 29. According to the reports, Hilco Merchant Resources will conduct the closing sales and liquidate inventory at eight remaining Shabby Chic locations, a distribution center and a manufacturing center.

CLEVELAND–Fourth-quarter net income for Hamilton Beach totaled $6.6 million, down 48 percent from the last quarter of 2007, according to results released by NACCO Industries, parent company of the housewares brand.
The unit felt the impact of a 7 percent decline in revenues to $186.5 million, rising product and freight costs, lower unit volumes and reduced sales of higher-margin products. Unit sales suffered from “a significant drop” in consumer spending throughout the world, NACCO said.

WASHINGTON-Retail industry sales for February, which exclude automobiles, gas stations and restaurants, rose 0.6 percent seasonally adjusted from January and decreased 5.0 percent unadjusted over last year, the National Retail Federation reported, citing U.S. Commerce Department figures released today.
February retail sales decreased 12.3 percent unadjusted year-over-year and 0.1 percent seasonally adjusted month-to-month, the NRF said.

BENTONVILLE, Ark.–Walmart Stores has named Brian Cornell president and chief executive officer of Sam’s Club, effective April 3. Cornell succeeds Doug McMillon, who became president and CEO of Walmart International last month. In his new role, Cornell will report to Mike Duke, president and CEO of Walmart Stores.

FRESNO, Calif.–Bankrupt Gottschalks revealed that a consortium of liquidation specialists that includes SB Capital Group LLC, Tiger Capital Group LLC, Great American Group LLC and Hudson Capital Partners LLC are the potential buyers of the bankrupt retailer, which expects to sell itself at an auction at the end of this month.
The group would conduct a going-out-of-business sale of the department store chain’s merchandise, fixtures and equipment, a report in the Fresno Bee said.

WOODLAND HILLS, Calif.–All Circuit City stores will close permanently on March 8. Some have already closed their doors because of depleted merchandise.
Going-out-of-business sales at all of the retailer’s 567 stores nationwide began Jan. 17 and were expected to last up to eight weeks. The retailer has been liquidating $1.7 billion in retail inventory.

WEST LONG BRANCH, N.J.–Sleep Innovations has formally emerged from Chapter 11 bankruptcy protection.
The company, which filed Chapter 11 last October, said in a statement that its pre-packaged plan of reorganization was approved by the U.S. bankruptcy court in Wilmington, Del., last month. As part of its emergence, Sleep Innovations has gained $33 million in exit financing from its existing lenders, the statement added. The company met its own deadline for emerging from Chapter 11 by late February, as set out in a company statement issued in January.

NEW YORK-Although retailers posted tepid comp-store sales, home emerged as a surprising standout at several chains, reflecting what Sam’s Club dubbed the “stay-at-home trend.”
Home was a star performer at Walmart. Comp-store sales at the nation’s biggest merchant rose 5.0 percent, and “home and hardlines were positive,” the retailer said.
By contrast, comp-store sales at Target fell 4.1 percent, with home posting high single-digit declines, according to a Target statement. However, the home business generated strength in housewares offset by weakness in home decor.

ALEXANDRIA, Va.–The mattress industry posted yet another steep decline in sales in the first month of 2009.
U.S. retail sales on both a dollar and unit basis fell dramatically in January, according to data provided by the International Sleep Products Association. Dollar sales finished the first month of the year down by nearly 17 percent to $212.8 million, while unit sales plummeted 18 percent to 661,428. ISPA derives its monthly sales figures from a survey of 18 U.S. mattress manufacturers, who together account for nearly 60 percent of the industry’s shipments.

ISSAQUAH, Wash.-The poor economy, higher markdowns and weak performance of non-food categories conspired to push Costco’s net income down 27 percent in the second quarter, although small electrics emerged as a bright spot, said Richard Galanti, chief executive officer, during a conference call.
For the second quarter ended Feb. 15, Costco’s net income fell 27 percent to $239.7 million from the year ago period. Net sales fell one percent, to $16.49 billion. Comp-store sales fell 3 percent.

MINNEAPOLIS–Select Comfort will push back its release of its fourth-quarter and fiscal-year 2009 results to an undetermined date, according to a company statement.
The mattress manufacturer-retailer has also entered into an amendment to its credit agreement that will defer a reduction to the amount of credit available until March 31. Originally, the $90 million credit line was to be slimmed to $85 million on March 1. Select Comfort also said it has been exploring “a range of strategic and financing alternatives to enhance its financial flexibility.”

NEW YORK–Retail chain store sales fell 0.6 percent for the week ended Feb. 28, according to the International Council of Shopping Centers and Goldman Sachs.
“February’s fiscal month ended on a weaker note with a fall-off in customer traffic and sales this past week,” said Michael Niemira, the ICSC’s chief economist, in a statement. “Although retail sector conditions continue to be weak, the underlying spending pace was slightly better than in recent months.”

MENOMONEE FALLS, Wisc.–Kohl’s reported top and bottom-line declines for the fourth quarter ended Jan. 31, although bedding and small electrics were bright spots in home, Kevin Mansell, Kohl’s president and chief executive officer, said during a conference call.
Kohl’s net income fell 18 percent to $336 million. Sales dropped 4.6 percent to $5.2 billion. Comparable store sales decreased 9.1 percent.

WESTBURY, N.Y.–Fortunoff Holdings will conduct a court-ordered bankruptcy liquidation sale beginning today. The sale will include all 20 store locations in New York, New Jersey, Connecticut and Pennsylvania.
The retailer will liquidate inventory valued at about $212 million.
The retailer was sold to Great American Group, Hudson Capital, SB Capital, Tiger Capital, Kimco Realty Services and jewelry liquidators Bobby Wilkerson Inc. and The Gordon Company.

WESTBURY, N.Y.–Going-out-of-business sales at Fortunoff will begin today as a consortium led by Great American Group received court approval to liquidate the bankrupt chain, according to a Newsday report.
The 19-unit home and jewelry specialty retailer was sold for more than $85 million, or 88.8 percent of its value, to Great American Group, Hudson Capital, SB Capital, Tiger Capital, Kimco Realty Services and jewelry liquidators Bobby Wilkerson Inc. and The Gordon Company, the Newsday report said.

CALHOUN, Ga.–Mohawk Industries’ posted a $128 million net earnings loss for the fourth quarter of 2008, as the company continued to battle a challenging economy. Sales for the period were down 18 percent, or $1,485 million.

MINNEAPOLIS–Target’s home business declined in the mid-double digits in the fourth quarter as the retailer “experiences challenges we have not seen before in our business,” and works to overcome perceptions that it’s not price competitive with Walmart, Gregg Steinhafel, chairman and chief executive officer, said during a conference call.
Still, Target will launch more exclusive designer collections than it did last year, including home programs.
For the fourth quarter ended Jan. 31, Target’s net earnings fell nearly 41 percent to $609 million.

ROSEVILLE, Calif.—The Western Home Furnishings Association Conference & Expo has been scheduled for May 17 to May 19 at the Westin Maui Resort & Spa in Hawaii.

BENTONVILLE, Ark.—Wal-Mart de Mexico will open 252 units in its Bodega Aurrera, Wal-Mart, Superama, Sam’s Club and Suburbia formats.
The store openings reflect “an unprecedented” $11.8 billion-peso, or $807.7 million, investment plan for 2009, the retailer said, in a statement.

PLANO, Texas—J.C. Penney posted fourth quarter sales and earnings declines, and although home remained one of the weakest categories, the business is showing signs that it could be rebounding, said Mike Ullman, chairman and chief executive officer, during a conference call with analysts.
Total sales at J.C. Penney decreased 9.8 percent to $5.6 billion from the year ago quarter. Comparable store sales fell 10.8 percent.
Net income fell 51 percent to $211 million from the year ago quarter.

MERRIMACK, N.H.–Fourth quarter net income for Brookstone fell 68.2 percent to $20.8 million.
The retailer’s bottom line for the quarter, as reported in a company statement, excluded non-cash impairment charges and charges related to intangible assets and underperforming stores. With these charges, Brookstone posted a loss from continuing operations of $98.2 million for the quarter. Sales for the period were $220.1 million, off 23.7 percent from sales in the final quarter of 2007; and same-store sales fell 25.5 percent.

FRANKFURT, Germany–An expected acquisition announcement was not made during the Ambiente show here this week, but Waterford Wedgwood Group officials nevertheless remained optimistic that their fortunes are about to take a turn for the better in a matter of days.

SAN FRANCISCO–Design Within Reach has amended its stockholder rights plan to reduce the likelihood that a potential buyer would gain control of the retailer by open market accumulation or other coercive takeover tactics without paying a premium for its shares.
Earlier this month, the modern furniture retailer hired Thomas Weisel Partners LLC to help it review strategic alternatives, including a sale of the company due to a depressed stock price. The move coincided with “an unsolicited offer recently received by the company,” the retailer said, in a statement.

WASHINGTON–According to the National Retail Federation, retail industry sales for January—which excludes automobiles, gas stations, and restaurants—rose 0.5 percent seasonally adjusted from last month, but decreased 2.1 percent unadjusted year-over-year.
January retail sales released today by the U.S. Commerce Department reveal that total retail sales rose 1.0 percent seasonally adjusted from December, but decreased 9.0 percent unadjusted year-over-year.

NEW YORK–Fortunoff, which filed for bankruptcy protection last week for a second time, has asked the court for “authority to sell all or substantially all” of its assets, according to a court filing. It also sought “approval of certain procedures for the solicitation of bids and the conduct of an auction with respect to the sale.”
Fortunoff is reserving the right to identify a stalking horse—or lead bidder—before the auction, the court filing said.

NEW YORK–The founding family of Mervyns LLC purchased the defunct retailer’s name and its Internet-related intellectual properties, the Wall Street Journal reported.
John, Jim and Jeff Morris, the sons of the department store chain’s founder Mervin Morris, bought the name of the promotional department store chain that went out of business last year.

PLANO, Texas–J.C. Penney will bow a new spring marketing campaign to showcase its exclusive designer brands. Created with ad agency Saatchi & Saatchi, the marketing campaign will launch on Feb. 22 with television spots during the 81st Annual Academy Awards. This year marks J.C. Penney’s eighth consecutive year as the show’s exclusive retail sponsor.
Following the Oscars, the spots will air over the next few weeks on prime-time shows and cable shows, reaching more than 75 percent of all women ages 18 to 49, the retailer said, in a statement.

NEW YORK–Fortunoff, which filed for bankruptcy protection last week for a second time, asked the court for “authority to sell all or substantially all” of its assets, according to a court filing. It also sought “approval of certain procedures for the solicitation of bids and the conduct of an auction with respect to the sale.”
Fortunoff is reserving the right to identify a stalking horse—or lead bidder—before the auction, the court filing said.

BENTONVILLE, Ark.–Walmart is exploring its expansion in the city of Chicago and reviewing potential locations, a spokesman from the retailer told HFN.
The retailer is assessing the “political and financial viability” of operating up to five more stores in the market, according to reports. It currently has one store on the South Side.
Walmart has identified areas in the city that it considers “food deserts,” a term that refers to communities that don’t have adequate access to fresh produce and have a higher rate of obesity, diabetes and malnutrition, the spokesman said.

BENTON HARBOR, Mich.–Fourth-quarter net income for Whirlpool plummeted 76.5 percent to $44 million.
The bottom line for the appliances giant felt the impact of a 19 percent dive in fourth-quarter sales, to $4.3 billion; $77 million in restructuring costs, compared with $15 million in the fourth quarter of 2007; and a product-recall expense of $32 million. These offset a 14.4 percent reduction in costs of goods sold, and a 21.7 percent decrease in selling, general and administrative expenses.

ALEXANDRIA, Va.–U.S. sales of mattresses on both a dollar and unit basis dived once again in the final month of 2008, ending a year that the industry would like to forget soon.
According to the monthly Bedding Barometer from the International Sleep Products Association, December mattress sales on a dollar basis fell 17.9 percent to $186.4 million, while unit sales dropped 12 percent to 580,649. For 2008 as a whole, dollar sales posted a 13.1 percent decrease to $2.7 billion, while unit sales lost 11.1 percent off the 2007 total, finishing at 8.4 million.

NEW YORK–Wal-Mart continued to outshine the retail sector in January, including its home business, as department stores posted comp-store sales declines and warehouse clubs, which have been the darling of the sector, weakened during the month.
Overall, retailers saw January sales hindered by clearance merchandise.
Wal-Mart’s total comp-store sales rose 0.5 percent, while archrival Target’s declined 3.3 percent.
Wal-Mart U.S. met or exceeded performance expectations in home, the retailer said, in a statement.

WESTBURY, N.Y.–Fortunoff said NRDC Equity Partners, the private-equity firm that bought the retailer a year ago, is in talks with interested parties to buy the business.
Fortunoff’s comments come amid published reports that the chain might be liquidated.
The news also follows the Jan. 16 closure of the retailer’s Manhattan store.
“There are ongoing negotiations with potential buyers, which is the good news,” a Fortunoff spokeswoman said.

By Barbara Thau
NEW YORK–Jeff Kantor will lead the home business as general merchandise manager of home at Macy’s, Terry Lundgren, chairman, president and chief executive officer of Macy’s, told HFN.
Kantor most recently served as president of furniture for Macy’s Home Store, the centralized home buying division that will effectively be eliminated when it is integrated into Macy’s national merchandising, stores and marketing organizations.

NEW YORK–Jeff Kantor will lead the home business as general merchandise manager of home at Macy’s, Terry Lundgren, chairman, president and chief executive officer of Macy’s, told HFN.
Kantor most recently served as president of furniture for Macy’s Home Store, the centralized home buying division that will effectively be eliminated when it is integrated into Macy’s national merchandising, stores and marketing organizations.

By Allison Zisko

NEW DELHI, India–Bharti Walmart Private Limited, the joint venture between Walmart Stores and Indian company Bharti Enterprises has named its self-service wholesale stores BestPrice Modern Wholesale. The stores are scheduled to bow this year in Punjab.
The chain will exclusively serve business owners and offer the best fixed and fair prices, according to a press release.
BestPrice Modern Wholesale stores will carry 6,000 to 10,000 products, including food and non-food items. Over 90 percent of the goods and services will be sourced locally.

MEDIA, Pa.–Brandon Baer and Susan Johnson have been chosen to serve on the board of directors of Foamex.
Baer is senior vice president of D.E. Shaw & Co., where he is a member of the company’s credit-related opportunities unit and leads the deal-structuring and execution team. Johnson is vice president of D.E. Shaw and is also a member of the credit-related opportunities unit.
They succeed Seth Charnow and David Lyon, both of whom are also vice presidents at D.E. Shaw.

YORK, Pa.–Bon-Ton is the latest retailer to outline a series of cost-savings moves, including the reduction of its corporate and store personnel by roughly 1,150 positions.
The 281-unit department store chain will also reduce other non-associate based costs; eliminate 2008 bonuses for senior executives; get rid of 2009 merit-based wage increases across the entire company; suspend employer contributions to the company’s 401(k) plan; reduce capital spending to $40 million, net of landlord contributions; and adjust inventory levels in response to the downward sales trend.

ATLANTA–The drop in consumer spending and the sagging economy resulted in a deep income and sales drop for the fourth quarter for Newell Rubbermaid, the company reported. Net income fell to a negative $256.7 million, or a negative 17.7 percent of sales, for the quarter ended December 31, 2008, compared to the prior year. Consistent with the updated guidance provided by the company, net sales declined 11.6 percent to $1.45 billion in the fourth quarter, compared to $1.64 billion in 2007.

HOFFMAN ESTATES, Ill.–In honor of Black History Month, Kmart has kicked off a series of events that will encourage shoppers to “embrace everyday value and share this knowledge with others,” the discounter said, in a statement.
Kmart will be reaching out to African American customers where they live, in stores and online through initiatives targeting moms and those making purchasing decisions during these tough economic times. As part of the effort, a Web site kmart.com/sharetheword features specially tailored financial tips and guides.

MINNEAPOLIS–Target is cutting 600 positions, or 9 percent, of its headquarters’ population. This includes the elimination of about 600 employees and 400 open positions mostly in the Twin Cities area. Most changes are effective today.
The discounter will also close its Little Rock, Ark., distribution center, which employs 500 people, later this year.
The cuts are Target’s latest move to manage expenses and minimize the number of affected employees, the company said in a statement.

WASHINGTON–The National Retail Federation expects retail industry sales--which exclude automobiles, gas stations and restaurants--to decrease 0.5 percent from last year.
The projections are part of the NRF’s 2009 economic forecast released today.
“Most of the consumer behavior we saw in 2008 will continue well into this year,” said NRF chief economist Rosalind Wells, in a statement. “Shoppers will be seeking value and trading down to discount and off-price retailers in order to stretch their purchasing power.”

WILMINGTON, Del.–Hilco Consumer Capital and Gordon Brothers Brands will purchase the Linens ’n Things name, brand names, trademarks, logos, advertising and marketing materials, as well as software and technology, for $1 million, according to a court filing.
A consortium of private investors that includes Gordon Brothers Retail Partners, Hilco Merchant Services, Great American Group, SB Capital Group, Tiger Capital Group and Hudson Capital Partners oversaw the liquidation of the bankrupt home specialty chain in October.

LEXINGTON, Ky.–Fourth-quarter net income for Tempur-Pedic plummeted 97 percent to $1.1 million as the company struggled through the continuing challenges of a worsening economy and declining spending by consumers, according to the company.

NEW YORK–Brand Matter has reached a license agreement with Olivet International for a line of Ellen Tracy-branded luggage and related travel accessories.
The license will include all styles of luggage, including wheeled and non-wheeled, travel totes, computer totes, business and computer cases, duffles, accessories and accessory cases. The program is slated to launch at retail in the fall at upscale department and specialty stores, where other Ellen Tracy products are also sold, according to a statement from Brand Matter.

MINNEAPOLIS–Brad Anderson, chief executive officer of Best Buy, will retire in June and be succeeded by Brian Dunn, currently president and chief operating officer. Dunn joined Best Buy in 1985 as a store associate and has served in various positions.
Anderson, who has been CEO since 2002, joined the electronics chain in 1973. He will remain on the board as vice chairman until his term expires in 2010.
During his tenure, Best Buy’s revenues rose from $17.7 billion in fiscal 2002 to $40.0 billion in fiscal 2008.

RICHMOND, Va.–Circuit City is going out of business and will be liquidated to pay off creditors. The liquidation of the consumer electronics chain’s 567 stores will begin tomorrow, Jan. 17.
Circuit City filed for bankruptcy in November, after announcing earlier in the month that it would shutter 155 stores.
The retailer employs an estimated 34,000 people in the United States. However, Circuit City’s Canadian business will continue to operate.

FRESNO, Calif.–Gottschalks has filed for Chapter 11 with the U.S. bankruptcy court.
The 58-unit department store chain also said it would explore a sale of the business or other transaction with a third-party investor through a process to be approved by the court.
To fund its continuing operations during the reorganization process, Gottschalks has negotiated a $125 million debtor-in-possession financing from a group of lenders led by GE Capital.

OAKLAND, Calif.–Specialty home retailer Cost Plus will close 26 stores and exit eight media markets. Upon completion of the store closures, the home specialty chain will operate 270 stores in 30 states.
Stores slated for closure are in Arizona, California, Florida, Georgia, Illinois, Indiana, Maryland, Minnesota, Mississippi, Nebraska, Ohio, Tennessee and Virginia, as well as Ontario, Canada.

NEW YORK–William Wackermann has been appointed senior vice president and publishing director of domino, effective immediately.
Wackermann continues in his role as senior vice president and publishing director of Glamour and Condé Nast Bridal Media. Beth Brenner, vice president and publisher of domino, will now report to Wackermann.

RICHMOND, Va.–Circuit City, in Chapter 11 bankruptcy protection, has filed a motion with the bankruptcy court here to put the company up for sale.

NEW YORK–Retailers posted weak December sales, capping off one of the poorest holidays at retail in years.
Retailers up and down the food chain resorted to heavy-duty promotions, which drove traffic but ate into margins, merchants said.
Although Walmart continued to outpace its peers and managed to eke out a 1.7 percent comparable-store gain, the retailer still fell short of its estimates.

CINCINNATI–Macy’s will close 11 underperforming stores as part of a “normal-course process to prune locations” that are not meeting the company’s requirements, said Terry Lundgren, chairman, president and chief executive officer, in a statement.

BENTONVILLE, Ark.–Doug McMillon has been named president and chief executive officer of Walmart International, succeeding Mike Duke, who becomes CEO of Walmart Stores on Feb. 1.
McMillon, who is now president and CEO of warehouse club chain Sam’s Club, will report to Duke when he succeeds Lee Scott.
McMillon is an 18-year Walmart veteran who has held roles in all three operating divisions.
In his new role as head of Walmart International, McMillon will be overseeing an $80.6 billion retailer with more than 3,300 stores.

WASHINGTON–Lee Scott, the outgoing chief executive officer of Walmart Stores, will answer questions as one part of his opening keynote address at the National Retail Federation’s Annual Convention on Jan. 12 at the Jacob K. Javits Convention Center in New York.
The NRF convention will be held from Jan. 11 to 14.

NEW YORK–Not only was holiday 2008 one of the worst in decades at retail, the home business also sank to new lows.
Retail sales of home furnishings and furniture plunged 22.5 percent from 2007, according to MasterCard Advisors SpendingPulse, which tracks retail sales.
SpendingPulse tracked the season from Nov. 1 to midnight Dec. 24. And at least one analyst predicts that home merchants will log double-digit comparable-store sales declines.

PURCHASE, N.Y.–Holiday 2008 will go down in the retail record books as one of the worst in decades, according to MasterCard Advisors SpendingPulse, which tracks retail sales.
Retail sales, excluding gasoline sales, fell between 2 percent and 4 percent this holiday shopping season, the report said.
“A difficult economic environment combined with unfavorable weather during the last week of shopping made 2008 one of the most challenging holiday shopping seasons in decades,” said Michael McNamara, vice president of research and analysis for SpendingPulse, in a statement.

NEW YORK–HFN editors are celebrating the holidays on Dec. 25-26. We will be back with Home Furnishings News on Dec. 29.
Happy Holidays.

FRESNO, Calif.–Gottschalks is continuing its discussions with Everbright Development Overseas regarding an investment in the retailer and a strategic business partnership, according to a Gottschalks statement issued late last week.

FORT WORTH, Texas–Pier 1 Imports posted third-quarter sales and net declines as it faces delisting from the New York Stock Exchange.
But despite the results being “a great disappointment,” the chain is seeing improvement in traffic and profit margins, said Alex Smith, president and chief executive officer, during a conference call with analysts.
For the third quarter ended Nov. 29, sales dropped to $300.9 million from $374 million in the year-ago quarter. Comparable-store sales sank 17.8 percent.

MINNEAPOLIS–Best Buy reported a net income decline on a sales gain for the third quarter ended Nov. 29.
The retailer posted net earnings of $52 million, a drop from earnings of $228 million in the year-ago quarter.
The reduction in third-quarter earnings was due in large part to a non-operating impairment charge of $111 million related to a sustained decline in the market price of the retailer’s nearly 3 percent stake in the common shares outstanding of The Carphone Warehouse Group PLC.
Revenues were 11.5 billion, compared with $9.9 billion in the year-ago quarter.

NEW YORK–Telsey Advisory Group LLC, an independent research and consulting firm founded by Wall Street retail analyst Dana Telsey, will holds its first Management Access Events exclusively for TAG clients at the Westin Times Square in New York City on Jan. 27, and March 31 to April 2.
The symposium and conference will offer TAG clients exclusive access to chief executive officers and senior-level retail executives via keynote presentations, small group meetings with senior management of each presenting company, discussion panels and private one-on-one sessions.

MENOMONEE FALLS, Wis.–Kohl’s has purchased 31 Mervyns sites in a joint bid with Forever 21 at an auction of the leaseholds of these locations.
Altogether, the two retailers bought 46 locations, of which 31 will be assumed by Kohl’s. The sale is pending the approval of the bankruptcy court overseeing Mervyns’ Chapter 11 proceedings. Mervyns filed Chapter 11 at U.S. bankruptcy court in Wilmington, Del., in July.

BOCA RATON, Fla.–Adding to the number of stores going dark across the country, Office Depot will close 112 underperforming retail stores in North America over the next three months, cutting its North American store base to 1,163.
The stores set for closure include 45 in the Central United States, 40 in the Northeast and Canada, 19 in the West and eight in the South. Fourteen Office Depot stores will be closed in 2009.

NEW YORK–Designer Thomas O’Brien has named former Ralph Lauren executive Lisa Jacoby to the newly created position of chief operating officer.
Jacoby will oversee management of all Thomas O’Brien companies, including Aero Studios and the Aero store in Manhattan, Thomas O’Brien product and licensing divisions, and its newest expansion into media projects in publishing and the Internet.

WASHINGTON–Although the home business has been soft at retail this year, shoppers are buying home products—from cookware to decorative pillows—so far this holiday season, said Dan Butler, vice president of merchandising and retail operations for the National Retail Federation, during a holiday conference call.
That’s because when the economy is down, “people focus on what they need.” And during the holidays, people need things like gourmet cookware and roasting pans, he said. Butler’s predictions are based on early retail sales returns and what merchants are promoting, he said.

EDEN PRAIRIE, Minn.–Lenox Group Inc. has filed for Chapter 11 bankruptcy protection and is seeking court approval for $85 million in debtor-in-possession financing.
The company will continue to pursue a sale of the company while under Chapter 11 proceedings. Through an agreement with its lenders, “substantially all” of the company’s assets will be sold to a new entity created by the lenders, in exchange for the forgiveness of a portion of the company’s debt, according to a statement from the company.

BENTONVILLE, Ark.–Wal-Mart has posted its entire Black Friday advertising circular on walmart.com, featuring “incredible savings on hundreds of items to help its customers cut the cost of Christmas,” the retailer said in a statement. Walmart.com today also set plans to offer online specials on Thanksgiving Day.
In addition to its Black Friday specials, the retailer is guaranteeing customers the best prices with its Ad Match program. The program calls for the retailer to match the price of any local competitor’s printed ad for an identical product.

BENTONVILLE, Ark.–Effective Feb. 1, Lee Scott will retire as president and chief executive officer of Wal-Mart. He will be succeeded by Mike Duke, who heads Wal-Mart’s international operations.
At the same time, Eduardo Castro-Wright, president and CEO of Wal-Mart U.S., has been named vice chairman, effective immediately.
Scott will remain as chairman of the executive committee of Wal-Mart’s board of directors, and will continue to work for Wal-Mart through Jan. 31.

READING, Pa.–The state and cities of Scranton and Wilkes-Barre, Pa., will provide $300 million of aid to help Boscov’s department store chain avoid bankruptcy, according to published reports.
About $100 million of that amount will be provided by company founder Al Boscov as part of an effort by him to purchase the company, reports said.
“The states and cities are definitely rallying behind us,” said a Boscov’s spokeswoman, who could not confirm the dollar amounts of the investments.

BENTONVILLE, Ark.–Effective Feb. 1, Lee Scott will retire as president and chief executive officer of Wal-Mart. He will be succeeded by Mike Duke, who heads Wal-Mart’s international operations.
At the same time, Eduardo Castro-Wright, president and CEO of Wal-Mart U.S., has been named vice chairman, effective immediately.
Scott will remain as chairman of the executive committee of Wal-Mart’s board of directors, and will continue to work for Wal-Mart through Jan. 31.

NATICK, Mass.–BJ’s Wholesale Club posted sales and income gains for the third quarter ended Nov. 1.
Net income rose to $28.2 million from $22.7 million in the year-ago quarter.
Results for the third quarter of 2008 included a post-tax expense of $0.5 million related to a store closing.
Results also included income and expense items, which resulted in a net benefit of an estimated 10 cents per diluted share.
Net sales at BJ’s rose 13.4 percent to $2.4 billion. Comparable-club sales jumped 11.9 percent.

HOFFMAN ESTATES, Ill.–Sears Holdings is closing four of its 16 upscale format Great Indoors home decorating superstores.
The Great Indoors’ stores that are closing are in Woodbridge, N.J.; Las Vegas; Chino Hills, Calif.; and Schaumburg, Ill. The stores are expected to close to the public in February.
Sears is looking to relocate Great Indoors’ employees to open positions at nearby Sears and Kmart locations, and those who qualify will be given severance.
A total of 12 Great Indoors stores remain.

MINNEAPOLIS–Target is trumping the “pay less” part of its “pay less, expect more” mantra for the holiday season as it posted an earnings declines on a sales gain for the third quarter ended Nov. 3, executives said during a conference call.
Net income fell to $369 million from $483 million from the year-ago quarter.
In the retail sales segment, sales grew 1.7 percent to $14.6 billion. Comparable-store sales fell 3.3 percent.

PLANO, Texas–J.C. Penney has launched an integrated holiday marketing campaign on Nov. 16 that plays up the retailer’s affordable gift assortment.
In keeping with its Every Day Matters marketing hook, the campaign imparts to shoppers that J.C. Penney understands their financial pressures and is designed to showcase the great value in shopping with the chain, that it offers “great style, lasting quality and a price that makes sense for them and their family.”

CONSHOHOCKEN, Pa.– Mike Ward, who currently heads up Ikea Netherlands, will succeed Pernille Spiers-Lopez as Ikea U.S. president.
Ending her eight-year reign, Spiers-Lopez will become head of the global human resources department for the Swedish giant’s 135,000 Ikea workers in 24 countries.
Since Spiers-Lopez took the top spot at Ikea U.S., the retailer has grown from 15 stores to 25 stores here.
She headed up human resources in 1997.

GOODLETTSVILLE, Tenn.–Dollar General launches a new Web page today devoted entirely to the holidays. The new page at dollargeneral.com is designed to make holiday planning easier and point up big savings, the retailer said.
The section features more than 500 holiday items available in Dollar General stores that are searchable by price and category. Browsers will also find suggestions on how to create the perfect gift.

WASHINGTON–Lee Scott, president and chief executive officer of Wal-Mart Stores, will offer the keynote address at the National Retail Federation’s annual convention in January.
Scott will discuss the company’s commitment to sustainability, building a more ethical and eco-friendly supply chain, while staying true to the retailer’s mantra of “helping people save money so they can live better”
Scott will speak from 8:30 to 9:30 a.m. on Jan. 12.

NEW YORK–The department store sector continues to be the retail industry’s Achilles’ heel, posting comparable-store sales declines in November.
J.C. Penney’s comp-store sales sank 11.8 percent, as the poorly performing home business dragged down not only store sales but catalog and online sales, the company said in a statement.
October sales at J.C. Penney were also hurt by the shift of an annual sales event that occurred last year in October, but was pushed to November this year.

READING, Pa.–Boscov’s will stay in the family.
Boscov’s department stores has signed an asset purchase agreement for the sale of substantially all of its assets to a family group led by Albert Boscov, Boscov’s retired chairman, and his brother-in-law, Edwin Lakin. As a result, the $1 billion, family-run chain has terminated the previously announced agreement with Versa Capital Management, its stalking horse—or lead—bidder.