MULTICHANNEL MERCHANT » RETAIL
Third-quarter net income for Hampstead, MD-based Jos. A. Bank Clothiers rose 27%, to $7.1 million, compared with $5.5 million for the same period last year, in the third quarter ended Nov. 3. Sales jumped nearly 10%, to $131.3 million, up from $119.5 million in the third quarter of 2006. Direct sales for the menswear cataloger/retailer skyrocketed increased 1.8%, while same-store sales rose 3.1%.
Upscale toy merchant FAO Schwarz in November acquired Best & Co., a luxury children’s apparel and accessories merchant. Terms of the deal were not disclosed.
Home improvement retailer Lowe’s certainly started the season on the wrong foot. A holiday catalog the company published last month included the headline
The Sears-Restoration Hardware saga took another turn this week. Sears Holdings Corp. announced on Nov. 26 it is prepared to offer $269 million for the home furnishings company.
Upscale toy merchant FAO Schwarz has acquired Best & Co., a marketer of luxury children’s apparel and accessories.
Home furnishings and decor merchant Restoration Hardware today announced a merger agreement with an affiliate of private equity firm Catterton Partners.
Neiman Marcus is renowned for its elegant stores and superior service, but it’s never really been considered cutting edge. The upscale cataloger/retailer is addressing the issue with its new Cusp stores designed to appeal to a younger demographic.
How does a high-end department store retailer go after younger, more fashion-forward customers? If you’re Neiman Marcus, you start opening Cusp stores–trendy, stylish boutiques designed to appeal to women age 21 to 45.
High-end apparel retailer Bergdorf Goodman is delving into decor, launching its first standalone home products catalog.