Retail

Amazon Goes from Profit to Loss in FY

Amazon

SEATTLE-In spite of a net sales gain of 19.5 percent to $89 billion, Amazon.com posted a net loss of $241 million for its fiscal year ending on Dec. 31, as opposed to net income of $274 million for the prior fiscal year. Increased operating expenses offset the sales increase for the year. In dollars, operatingMore »

Last updated: January 30, 2015

PBteen Partners with Kelly Slater on Home Line

Bed ensemble from the Kelly Slater collection

SAN FRANCISCO-William-Sonoma’s PBteen brand has begun an exclusive collaboration with Kelly Slater, an 11-time world surfing champion, for a collection of home furnishings. The product categories will include furniture, bedding, lighting, wall art and decorative accessories, all designed for the tween and teen markets. All of the products will be made of sustainable materials andMore »

Last updated: January 30, 2015

Tuesday Morning Profit Jumps in Q2

TuesdayMorning_2014

DALLAS-With sales and margins heading up and costs relatively in check, Tuesday Morning reported a 33.9 percent increase in second-quarter net income, which totaled $23.7 million. Net sales in the quarter, which ended on Dec. 31, finished at $301.4 million, up 5.5 percent and including a 7.6 percent gain in same-store sales. Gross margin gainedMore »

Last updated: January 30, 2015

Sears Cuts HQ, Corporate Support Staff

Sears Holdings

HOFFMAN ESTATES, Ill.-Sears Holdings has eliminated more than 100 positions from its headquarters and other corporate-support locations, according to a statement from the company. The statement, emailed to HFN from Howard Riefs, director of corporate communications, said the retail holding company, parent of Sears and Kmart, has done away with about 100 positions at itsMore »

Last updated: January 29, 2015

Baker, Head of Ross’ dd’s Discounts, Departs

Ross Stores

DUBLIN, Calif.-Doug Baker, president and chief merchandising officer of Ross Stores’s dd’s Discounts unit, is leaving the company. Neither a Ross statement nor a filing with the U.S. Securities and Exchange Commission gave a reason for Baker’s departure. The statement said the senior merchandising executives at dd’s Discounts will report to Michael Balmuth, executive chairmanMore »

Last updated: January 29, 2015

Consumer Confidence Index Tops 100, at Highest Level Since 2007

Conference Board

NEW YORK-For the first time in many months, the consumer confidence index reached over the 100 mark, finishing January at 102.9, its highest level since August 2007, according to The Conference Board, which provides the monthly indicator. This month’s index was up 9.8 points from the December reading. Both of the indicator’s component indexes alsoMore »

Last updated: January 28, 2015

Ikea U.S. Sales Gain in Fiscal Year

IKEA

CONSHOHOCKEN, Pa.-Ikea’s U.S. stores posted an increase of 4.24 percent in the fiscal year ending in August 2014, building on pickups of 6.7 percent for fiscal year 2013 and 8 percent in fiscal year 2012. Internationally, Ikea Group’s net income totaled €3.3 billion, or about $4 billion, which was flat with last year. Total salesMore »

Last updated: January 28, 2015

Ethan Allen Net Dives in Q2

Ethan Allen

DANBURY, Conn.-As it continues to transition its product offerings, Ethan Allen Interiors reported a 13.1 percent drop in second-quarter net income, to $10 million. A company statement said the introduction of more than 600 product offerings in the fiscal first half led to a selloff in floor inventory, which affected retail sales and gross margins.More »

Last updated: January 28, 2015