Sears still seeking Restoration
It looks like Sears Holdings Corp. is gaining ground in its quest to acquire Restoration Hardware for $269 million. Restoration Hardware at press time
Retail
Rhino Pop-Up Store Returns to Retail Roots
In a business that recently has seen the disappearance of once-market leaders Tower Records and Sam Goody, reissue music label Rhino Entertainment opened a pop-up store in Los Angeles for the month of December.
Net Income Rises at Jos. A. Bank
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%.
A Lowe’s moment
Home improvement retailer Lowe’s certainly started the season on the wrong foot. A holiday catalog the company published last month included the headline
Best deal for FAO Schwarz
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.
Sears Ups the Ante for Restoration Hardware
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.
FAO Schwarz Buys Best & Co.
Upscale toy merchant FAO Schwarz has acquired Best & Co., a marketer of luxury children’s apparel and accessories.
Restoration Hardware Merging With Catterton Partners
Home furnishings and decor merchant Restoration Hardware today announced a merger agreement with an affiliate of private equity firm Catterton Partners.
Neiman Marcus on the retail cusp
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.