Retail

QVC’s U.S CEO Steps Down

Claire Watts

WEST CHESTER, Penn.–QVC’s U.S. CEO Claire Watts has resigned, effective Friday, Sept. 5, to pursue other opportunities, the retailer said yesterday. The company has not initiated a search for a successor to Watts, according to a company spokeswoman. The senior U.S. leadership team, including Doug Howe, executive vice president, merchandising and planning; Mary Campbell, executiveMore »

Last updated: September 4, 2014

Dollar General Enhances Proposal to Acquire Family Dollar

Dollar General

GOODLETTSVILLE, Tenn.–Dollar General Corporation today announced that it has sent an enhanced acquisition proposal to Family Dollar Stores, Inc. Under the terms of the revised proposal, Dollar General would increase its proposal for all outstanding shares of Family Dollar to about $9.1 billion. Dollar General also increased the number of stores that it would beMore »

Last updated: September 2, 2014

Belk Q2 Net Up 0.3 Percent, to Invest in Strategic Initiatives

Belk

CHARLOTTE, N.C.-Belk’s second-quarter net income edged up 0.3 percent as sales for the southern department-store retailer gained marginally. Net sales in the quarter, which ended on Aug. 2, totaled $906.5 million, an increase of 0.8 percent and including a pickup of 0.6 percent in same-store sales. “While the beginning of the quarter was soft, salesMore »

Last updated: August 29, 2014

Dueling Dollars

H09-FamilyDollar3_R1

Family Dollar chooses to merge with Dollar Tree over Dollar General By David Gill And the apparent winner of the Family Dollar sweepstakes is … Dollar Tree. With bids to be acquired from both Dollar Tree and Dollar General, Family Dollar opted to stick with an earlier offer made by Dollar Tree. This offer involvedMore »

Last updated: August 28, 2014

Williams-Sonoma Net Climbs 3.7 Percent in Q2

Williams-Sonoma

SAN FRANCISCO-With top-line growth fueled by accelerating direct-to-customer revenues, Williams-Sonoma recorded a 3.7 percent gain in second-quarter net income, which totaled $50.7 million. Total revenues in the quarter, which ended on Aug. 3, were up 5.8 percent to $1 billion, with direct-to-customer net revenues increasing by 9.4 percent. Retail net revenue rose 2.4 percent. AmongMore »

Last updated: August 28, 2014

MoMA Names Randon General Manager, Retail Division

MoMA Retail

NEW YORK-The Museum of Modern Art has appointed Thomas Randon as general manager of MoMA’s retail division. In his new post, Randon will lead the MoMA Retail department in strengthening and evolving the MoMA Design Store business and brand and focus on establishing the MoMA Design Store as a leading authority on the values ofMore »

Last updated: August 28, 2014

Gordmans Posts $3.2 Million Loss in Q2

Gordmans

OMAHA, Neb.-Rising costs, particularly interest expense, put Gordmans into the red in its fiscal second quarter, to the tune of $3.2 million. Interest expense rose from $117,000 to $1.3 million, because of additional interest associated with a term loan the retailer entered into in August of last year to partially fund the cash dividend GordmansMore »

Last updated: August 28, 2014

Best Buy Q2 Net Drops 45.1 Percent

Best Buy Posts Q1 Loss

MINNEAPOLIS-Declines in both sales and gross margin were key factors as Best Buy’s second-quarter net income fell 45.1 percent to $146 million. Net sales in the quarter, which ended on Aug. 2, were down 4 percent to $8.9 billion, including a 2.7 percent falloff in same-store sales. Gross margin dropped 340 basis points as aMore »

Last updated: August 26, 2014