Retail

hhgregg Posts $10.4 Million Q2 Loss

hhgregg

INDIANAPOLIS-Due to a double-digit drop in sales, hhgregg’s fiscal second quarter produced a net loss of $10.4 million, compared to net income of $3.7 million in last year’s second quarter. Net sales in the quarter, which ended on Sept. 30, totaled $505.9 million, down 11 percent from last year and including a drop of 11.4More »

Last updated: October 30, 2014

CIT: Middle-Market Execs More Optimistic

CIT logo

NEW YORK-Middle-market executives have a positive outlook for their businesses, according to CIT Group’s annual “Voice of the Middle Market” study. Sixty-three percent of the executives who responded to CIT’s survey said their companies are better off now than they were last year, while 62 percent expect to increase the size of their work forcesMore »

Last updated: October 30, 2014

Consumer Confidence Rises; Holiday Shoppers Likely to Spend More

Conference Board

NEW YORK-Two studies point to a healthy holiday shopping season this year. The consumer confidence index, which had fallen in September, rebounded by rising 5.5 points to 94.5 in October, according to The Conference Board, which compiles the monthly indicator. Also, a survey by Deloitte found that shoppers are optimistic about the U.S. economy andMore »

Last updated: October 29, 2014

Ikea Picks New Head of Canada Operation

IKEA

BURLINGTON, Ontario-Stefan Sjöstrand has been named president of Ikea’s Canadian organization. Sjöstrand is a company veteran, having been with the home furnishings retailer for the last eight years. Most recently, he served as senior vice president of Ikea France. He began his new role leading the Canadian operation in September. Sjöstrand began his career withMore »

Last updated: October 29, 2014

Macy’s First Store Outside U.S. to Open in Abu Dhabi

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CINCINNATI-Macy’s will open its first location outside of the United States in Abu Dhabi in 2018, as part of a strategic partnership with Al Tayer Group, a company based in the United Arab Emirates with diversified businesses. Also as part of this partnership, Bloomingdales’s will open its second international store location in Abu Dhabi inMore »

Last updated: October 28, 2014

Lowe’s to Open First Manhattan Stores

lowe's

MOORESVILLE, N.C.-Lowe’s will open its first two stores in Manhattan in the second half of next year. The stores will be located at 2008 Broadway, on the corner of West 68th Street; and 635 Sixth Avenue, at the corner of West 19th Street. Each store will measure about 30,000 square feet and will “offer productsMore »

Last updated: October 28, 2014

Container Store Debuts TCS Closets

The TCS Closets

DALLAS-The Container Store has conducted a pilot launch of its new closet line, TCS Closets, which began yesterday at its seven Dallas-Fort Worth area stores. The specialty retailer also plans to roll out the new line to the rest of its stores by the end of 2015. TCS Closets feature thick-profile construction in six exclusiveMore »

Last updated: October 28, 2014