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Lane Bryant: The women’s plus-size specialty apparel retailer has launched a new fashion retail catalog. The catalog was mailed to 3 million existing customers beginning in March. Lane Bryant, which isn’t connected with the former Lane Bryant catalog that Redcats USA (and before that, Brylane) used to operate, also unveiled a new toll-free number to handle orders and customer service inquiries, joining its retail stores and e-commerce site. The new catalog conveys a fashion-inspired look with a new attitude and bright colors.
Sears: The retailer has acquired Delver Ltd., an Israel-based search engine platform provider. The move continues Sears’ push into online services following its corporate restructuring a year ago. While terms of the deal weren’t announced, Sears is thought to have gotten a good deal as the Israeli startup company was on the verge of shutting down after failing to raise $6 million (U.S.) in capital.
Lenox Group: The china, tabletop and giftware marketer’s acquisition by the private investment firm Clarion Capital Partners has been completed. The “New Lenox,” which includes the Lenox, Dansk, Gorham and Department 56 brands, will now operate outside of Chapter 11 bankruptcy protection. Peter Cameron, former Waterford Wedgwood and All-Clad Metalcrafters CEO, will assume the position of chairman and CEO of New Lenox.
Financial Briefs
Macy’s: The retailer reported that overall sales for February decreased 9.3 percent compared with the prior February’s sales. A bright spot for the company was its e-commerce sales, which combine Macys.com and Bloomingdales.com; they surged 16.2 percent in February.
J.C. Penney: Despite beating company forecasts, the retailer’s February sales still fell 7.2 percent from the previous year. Comparable store sales dropped 8.8 percent in the month.
Coldwater Creek: The struggles for the catalog/multichannel retailer of women’s apparel, gifts, jewelry and accessories continued in the fourth quarter, as total sales decreased $63.2 million. Direct sales were part of the problem, finishing the quarter down $35.8 million, while comparable store sales declined 21.4 percent.
Golfsmith: The catalog/multichannel retailer of golf and tennis equipment, apparel and accessories saw its fourth quarter net revenues slip 14.1 percent to $67.8 million compared to $79 million for the same period in the prior year. These revenues reflect a 17.3 percent decrease in comp. store sales and a 23.1 percent decrease in net revenues for its direct/catalog/
online channel.
Cabela’s: The outdoor sporting goods catalog/multichannel retailer was hurt in the fourth quarter by soft sales in its direct division, leading to a 12 percent drop in profits. While retail store sales rose 6.9 percent in the quarter, direct sales fell 8.2 percent. The company reported a 13 percent drop in annual profits for 2008.
PEOPLE ON the Move
Vermont Teddy Bear: The cataloger of teddy bears and other direct-to-consumer gifts has named John Gilbert as its new president/CEO. Gilbert also is responsible for managing Vermont Teddy Bear’s sister companies, PajamaGram and Calyx Flowers. He comes to Vermont Teddy Bear from The TJX Cos., where he most recently served as executive vice president and chief marketing officer. He also held senior-level marketing positions at Dunkin Donuts, YUM!, Carlson Restaurants Worldwide and PepsiCo.
Brookstone: The gadgets catalog/multichannel retailer has shuffled its senior management. Louis Mancini stepped down as president/CEO and is relinquishing his seat on the company’s board of directors. Upon his departure, Philip Roizin has taken over as interim president/CEO and a director of the company. Roizin previously served as Brookstone’s executive vice president, finance and administration, for more than 12 years. As of press time, a permanent CEO had not been named.
CDW: The B-to-B retailer of technology products and services for business, government and education has named Collin Kebo as its new vice president, financial planning and analysis. Kebo joins CDW from PepsiCo, where he held a variety of senior finance positions, most recently as vice president of sales finance for PepsiCo’s warehouse delivered products. At CDW, he’s responsible for providing financial leadership recommendations and business decision support for leaders across CDW.
Companies Mentioned:
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