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  • Ross Tops Expectations in Q1 Profit, Sales

           First-quarter net income and sales for Ross Stores were better than the company expected—with net income finishing at $282.2 million, up 15.7 percent from last year’s first quarter. Net sales in the quarter, which ended on May 2, jumped 9.6 percent to $2.9 billion, including a gain of 5 percent in same-store sales. Speaking yesterday in a conference call to financial analysts, Ross CEO Barbara Rentler said both the top and bottom lines exceeded the company’s expectations. More

  • Ashley Furniture to Open E-Commerce Headquarters

    Ashley FurnitureAshley Furniture Industries announced today that it is establishing, through its wholly owned subsidiary, Ashcomm LLC, its U.S. e-commerce headquarters in Ybor City here. The headquarters office will occupy 70,000 square feet of space in Centro Ybor in the heart of Tampa’s historic business and entertainment district. More

  • Victoria Classics to Offer Jane Seymour Textiles

    Jane SeymourVictoria Classics has reached a license agreement with Jane Seymour to offer a line of textiles branded under the actress’ name. The company will offer two Jane Seymour collections: the Estate collection, reflecting Seymour’s British heritage and in more relaxed and traditional designs; and Hollywood Glamor, described by Jack Anzarouth, Victoria Classics’ director of marketing, as “more glitzy.” More

  • Mohawk to Invest $8 Million in Eden, N.C., Facility

    Mohawk IndustriesMohawk Industries has announced an $8 million investment in its weaving plant here. Almost 90 years after the first Karastan rug was produced at the facility, Mohawk is reinvigorating the location with investments in technology, equipment, infrastructure and new jobs across all of the Karastan brand’s business segments—including the residential, rug and commercial divisions—as well as producing woven collections for select specialized channels, the company said. More

  • Portman White to be Highlighted in Atlanta

    John PortmanThis July, AmericasMart, along with its partners, will host a design exposition to celebrate and promote the launch of Portman White (SW - 240W), Sherwin Williams’ new paint color that is a tribute to AmericasMart’s Chairman John Portman. At the Atlanta International Gift & Home Furnishings Market (July 7-14), this design event will include a showroom with vignettes focusing on Portman White and designed by seven notable interior designers More

  • Artisanal, Vintage Goods on Tap in Dallas

    DallasTotalHomeNext month’s Dallas Total Home & Gift Market will showcase unique and artisanal products from three participating groups: the American Made Show, International Folk Art Market | Collection and the Round Top Experience. “As retailers continue to differentiate themselves through product, as well as increase merchandising mix and sales, we are proud to offer these three distinct groups." More

  • Jacob Jensen, Electrics Designer, Passes

    Jacob JensenJacob Jensen, a designer of a variety of consumer electronics and housewares, has died. He was 89. According to a New York Times obituary, Jensen was an exemplar of the Danish modern style, which could be seen in the stereo systems and other audio products that he created for Bang & Olufsen. While working for the Copenhagen design firm Bernadotte & Bjorn in the 1950s, he created the Margarethe bowl, described by the Times as “an enduring mixing-bowl design.” More

  • PMA ratifies West Coast port labor deal

    Container PortThe Pacific Maritime Association, 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, and the union is voting on the pact today. 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