Retail

Sears Refutes Store-Closings Report

Sears Holdings

HOFFMAN ESTATES, Ill.-A Sears Holdings spokesman said a news report detailing a number of closings of Sears, Kmart and Sears Auto Center locations is inaccurate. The story, which appeared on the stock-market website Seeking Alpha, said Sears would close 116 stores under all three nameplates, with layoffs of more than 6,000 workers. Responding to aMore »

Last updated: October 24, 2014

Aaron’s Net Falls 56 Percent in Q3

Aaron's

ATLANTA-Declining margins and rising costs, offsetting a major gain in revenues, drove a 56 percent drop in Aaron’s (NYSE: AAN) third-quarter net income, to $9.3 million. Operating expenses in the quarter, which ended on Sept. 30, jumped 28.7 percent in dollars, although as a percentage of revenues expenses were down 109 basis points to 47.3More »

Last updated: October 24, 2014

Target Launches Holiday Initiatives

Target

MINNEAPOLIS-Target has debuted a number of efforts for the holiday shopping season, which include exclusive gift items in a number of product categories, home being one of them. For shoppers, the retailer has introduced new and enhanced digital tools along with free shipping for all orders on target.com through Dec. 20. In addition, more thanMore »

Last updated: October 23, 2014

Select Comfort Q3 Net Rises 16.3 Percent

Select Comfort

MINNEAPOLIS-With sales on the upswing, Select Comfort (NASDAQ: SCSS) reported a 16.3 percent gain in third-quarter net income, which totaled $23.6 million. Net sales increased by 22.6 percent to $323.4 million in the quarter, which ended on Sept. 27. In a conference call to financial analysts yesterday, Shelly Ibach, Select Comfort’s president and CEO, attributedMore »

Last updated: October 23, 2014

Campbell Upped to QVC EVP

Mary Campbell

WEST CHESTER, Pa.-QVC has promoted Mary Campbell to executive vice president of U.S. commerce platforms. Campbell, who was previously senior vice president of commerce platforms, is now in charge of guiding the strategic direction of the company’s TV, web, mobile, tablet and social media while translating the QVC brand across all. She reports directly toMore »

Last updated: October 22, 2014

Mattress Firm Completes Sleep Train Purchase

Mattress Firm

HOUSTON-Mattress Firm (NASDAQ: MFRM) has closed on its acquisition of The Sleep Train, the West Coast-based specialty mattress retailer. The purchase price was $425 million, subject to working capital and other “customary adjustments,” along with the assumption of certain additional liabilities totaling about $15 million, according to a Mattress Firm statement. Sleep Train operates aboutMore »

Last updated: October 21, 2014

Powers Tabbed as Home Depot EVP, U.S. Stores

Marc Powers

ATLANTA-The Home Depot (NYSE: HD) has named Marc Powers executive vice president of U.S. stores, succeeding Marvin Ellison, who was named president and CEO-designee of J.C. Penney last week. Powers will assume his new role on Nov. 1, the same date on which Ellison will move to his new post. He will be responsible forMore »

Last updated: October 20, 2014

Family Dollar Shareholder Pushes for Dollar General

H09-FamilyDollar3_R1

NEW YORK-Elliott Advisors, a holder of 4.9 percent of Family Dollar’s (NYSE: FDO) outstanding shares, has opened the door for more consideration of the offer by Dollar General (NYSE: DG) to acquire its dollar-store rival. In a letter to the Family Dollar board signed by Mark Levine, senior portfolio manager for Elliott Advisors, the companyMore »

Last updated: October 20, 2014