Retail Stores
Home Depot is getting ready for its own version of Black Friday. For the second year in a row, the DIY heavyweight will roll out regional promotions that include doorbusters, as well as special pricing on lawn and garden, patio furniture, and grills.
In a more overt piece of altruistic product design, Nelson Mandela's 46664 organization, a nonprofit that's focused on humanitarian efforts since 2002, has announced the release of its own fashion line, also named 46664. The line will launch this summer with a dedicated store in Johannesburg and then followed by โother retail stores around the country.โ
Dover Saddlery plans to relaunch its retail store expansion plan. The plan includes opening up to four stores this year and an additional six in 2012. The company hopes to have 40 new stores over the next several years.
Lucky Brand founders Gene Montesano and Barry Perlman have launched a new casualwear brand called Civilianaire with a stand-alone store in Los Angeles. Civilianaireโs limited array of initial merchandise clearly articulates the duoโs fad-free aesthetic. Itโs the stuff of faded album covers and coveted vintage finds.
The young woman in the Zappos.com video wears little makeup with her hair in a ponytail. She's cute, but she's no supermodel. What she is: A Zappos employee chosen for her pep and "real people" look to wear and talk about shoes for sale on the company's website.
DSW has announced net income of $18.5 million on net sales of $468.5 million for the fourth quarter ended Jan. 29, compared with net income of $13.4 million on net sales of $402.6 million for the quarter ended Jan. 30, 2010.
Improvements in the U.S. economy bolstered retailers' February sales, reflecting improved consumer sentiment as it relates to spending. According to the National Retail Federation, retail industry sales (which exclude automobiles, gas stations and restaurants) for February rose 0.6 percent seasonally adjusted from January and 4.2 percent unadjusted year-over-year.
Rugged Bear is closing all 29 stores after more than 30 years of selling children's clothes throughout the Northeast. The liquidation comes after the struggling retailer announced it filed for Chapter 11 bankruptcy on Jan. 25. Going-out-of-business sales began in all stores on March 4 and will continue until all merchandise is sold.
Ann Taylor posted a bigger-than-expected quarterly profit on improved sales. The company, which said it'll change its corporate name to Ann Inc. to better reflect its multichannel focus, also forecast strong first-quarter sales. โToday, our company is far more than a traditional 'store-based' retailer,โ stated Kay Krill, president and CEO. โWe have two distinct brands โ Ann Taylor and Loft โ each of which operates across three channels and enables us to reach our client whether she is making her purchases at our stores, online or at our factory outlet
Bon-Ton Stores said its fiscal fourth-quarter profit climbed 6 percent. The department store chain said its net income rose to $85 million for the period ended Jan. 29, up from $80.3 million a year earlier.