Bed Bath & Beyond tops Street as Q2 earnings rise 34%
Union, N.J. Bed Bath & Beyond on Wednesday posted a 34% increase in fiscal second-quarter earnings, topping Wall Street’s expectations. The retailer raised its earnings per share growth forecast for fiscal 2010.
Net income rose to $181.8 million in the three months ended Aug. 28, from $135.5 million in the year-ago period.
Quarterly revenue increased 12% to $2.14 billion, from $1.91 billion in the prior year. Same-store sales rose 7.4%.
During the quarter, the company opened five Bed Bath & Beyond stores and two buybuy Baby stores.
Sears.com gets what’s ‘NEXT’ in fashion
HOFFMAN ESTATES, Ill. – Sears.com announced that it has become the exclusive retailer of NEXT, a popular U.K. fashion retailer, NEXT, the U.K.’s popular fashion retailer that offers beautifully designed and high-quality apparel, shoes and accessories.
"Customers who shop our millions of offerings online, including NEXT apparel, will be able to take advantage of our online shopping experience that is truly focused on the customer and providing them with choice," said Imran Jooma, president e-commerce at Sears Holdings. "At Sears.com, we are always looking to expand and evolve our customer experience while also delivering popular items and on-trend fashions to customers. NEXT gives customers both style and affordability, so they don’t have to choose between the two."
Office Depot launches [email protected] furniture line
BOCA RATON , Fla. – Office Depot announced that it is partnering with Thomasville, one of the nation’s leading furniture brands, to launch its new and exclusive [email protected] Collection. The collection is available online at www.officedepot.com/thomasville and in select Office Depot retail stores.
The line includes two collections — vintage and trek — featuring desks, hutches, filing cabinets, bookcases and storage solutions. Products range in price from $119.99 to $499.99.
“With the challenging economic environment, and more and more people working from home, it’s critical to offer a functional, quality and affordable furniture option, and that’s exactly what Office Depot is doing,” said Lee Pell, SVP merchandising for Office Depot. “Joining with Thomasville has allowed us to offer high-quality furniture pieces at a sensible cost.”