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  • PMA Ratifies Port Labor Deal

    Container PortThe Pacific Maritime Association (PMA), which represents shipping lines and terminal operators at 29 ports on the West Coast, has voted to ratify the new five-year contract with the International Longshore & Warehouse Union (ILWU). The two sides reached a tentative agreement on the new contract on Feb. 20, ending months of dispute that snarled the flow of goods through key West Coast ports. The ILWU is expected to vote on the new contract tomorrow. More

  • Added Costs Dampen Williams-Sonoma Q1 Profit

    Williams-Sonoma FlagshipIncreased expenses, resulting in particular from the West Coast ports slowdown, brought a 3 percent drop in first-quarter net income for Williams-Sonoma, to $44.8 million.Although the bottom line deflated somewhat, Laura Alber, the retailer’s president and CEO, said the overall results were better than expected. Alber said Williams-Sonoma achieved comparable-brand revenue growth of 4.6 percent, led by West Elm’s comparable-brand gain of 15.3 percent. More

  • Sales Up, Profit Down at Dollar Tree

    Dollar TreeIn spite of an 8.8 percent increase in net sales, Dollar Tree’s first-quarter net income fell 52.5 percent to $69.5 million. Increased costs were a key factor in the steep drop in the bottom line. Gross margin fell 40 percent to 34.4 percent, weighed down by rising freight costs and an adjustment for a change in the inventory counting method related to Dollar Tree’s Canadian operations. More

  • Best Buy Revenue Slips in Q1

           Best Buy ended its first fiscal quarter on May 2 with revenue of $8.6 billion, down 0.9 percent from last year’s first quarter and including a 1.4 percent increase in revenue from its U.S. segment. Both figures exceeded the company’s expectations, according to Hubert Joly, president and CEO. Same-store sales for both the company as a whole and the U.S. segment declined 0.7 percent. More

  • Bon-Ton Q1 Loss Deepens

           Bon-Ton posted a net loss of $34.1 million for its fiscal first quarter ending on May 2, compared to last year’s first-quarter net loss of $31.5 million. The ink got redder on the retailer’s bottom line in spite of an uptick of 0.5 percent in net sales to $610.9 million, which included a 0.8 percent increase in same-store sales. In addition, Bon-Ton was able to manage its expenses. More

  • Lighting Retailer Breaks Ground on New Facility

    shades of lightShades of Light, a multichannel lighting and home decor retailer, recently broke ground on a new headquarters and distribution facility in Midlothian, Va., in Chesterfield County. Shades of Light is currently operating out of three separate locations that it will consolidate into the new facility once it is complete, which is scheduled for December. It will have 83,162 square feet of combined distribution, production and office space. More

  • New and Expanded Showrooms Prepare for Atlanta Market

           Demand for space at AmericasMart Atlanta continues to grow, AmericasMart said, with new and newly expanded showrooms preparing for The Atlanta International Gift & Home Furnishings Market in July. More

  • International Brands, Local Crafts Share Ambiente India Spotlight

    ambiente-IN_4CWelspun textiles and Shun cutlery will be among the products exhibited by international brands at Ambiente India next month. They will sit alongside a mix of arts and crafts from local companies for a complete range of traditional art and contemporary products in dining, living and giving segments. At the show, which takes place June 25-27 at Pragati Maidan here, Welspun will showcase its one-of-a kind handcrafted textiles under the brand Spun. More

  • Electrolux Adds Lithium Ion Tech to Ergorapido Line

    ElectroluxErgorapidoElectrolux has introduced the Ergorapido Lithium Ion Brushroll Clean Xtra, a new stick vacuum designed with a Lithium TurboPower battery. The 14.4-volt Lithium TurboPower battery provides greater power, longer battery life and sustained run time, and charges four times faster than its predecessor batteries, according to an Electrolux statement. More

  • Kohl’s to Test Off-Price Format

    Kohl'sKohl’s said it will test an off-price format beginning early in June, to be called Off-Aisle by Kohl’s. It will be a one-store test, with the store located in Cherry Hill, N.J. Julie Fennelly, the retailer’s corporate public relations manager, said the store will offer like-new items that have been returned to Kohl’s stores or to kohls.com, which shoppers can purchase “at a highly discounted price,” according to Fennelly. More

  • Home Provides Booster as Target Q1 Net Skies

    TargetThe home department played a key role as Target wrapped up its first quarter with a 51.6 percent gain in net income, which totaled $635 million. Net sales in the quarter, which ended on May 2, rose 2.8 percent to $17.1 billion, and included a 2.3 percent pickup in same-store sales—which, as Target Chairman and CEO Brian Cornell told financial analysts on the company’s webcast this morning, was better than the retailer expected. More

  • Lowe’s Q1 Net Climbs as Sales Grow

           Strong sales across all categories fueled Lowe’s to a 7.9 percent gain in first-quarter net income, which totaled $673 million. Net sales finished at $14.1 billion, up 5.4 percent, in the quarter, which ended on May 1. This included a pickup of 5.2 percent total same-store sales and an increase of 5.3 percent in U.S. same-store sales. More