The Home Depot Launches New Catalog
Atlanta, Its second foray into the home-catalog business launches an upscale chapter for The Home Depot. The new high-end home catalog, 10 Crescent Lane, focuses on home decor items and is an attempt to “build a stand-alone brand,” said Shelley Nandkeolyar, president of The Home Depot Direct division.
10 Crescent Lane—the company’s second catalog effort, following The Home Depot Catalog, which launched in November 2003—is intended to compete with home-catalog competitors Frontgate, Horchow, Williams-Sonoma and Restoration Hardware.
The move, according to The Home Depot, is part of an overall corporate strategy initiated by CEO Bob Nardelli to “enhance, extend and expand” into new segments with significant growth potential.
Hurricane Wilma Hits Macy’s at the Holidays
Miami, According to a report in the Miami Herald, three Macy’s stores in South Florida will probably remain closed until after Christmas. The stores sustained damage from Hurricane Wilma last month. The damaged stores, owned by Cincinnati-based Federated Department Stores, are located in Fashion Mall in Plantation, Galleria Mall in Fort Lauderdale and The Falls in South Miami-Dade County.
Long- and short-term store closings in Florida last month accounted for a 1.7% decline in Federated’s same-store sales in October and a 0.5% decline in the third quarter, the company said.
Walgreens Buys Schraft’s
Deerfield, Ill., Walgreens Specialty Pharmacy has finalized the purchase of Schraft’s A Specialty Pharmacy LLC. Schraft’s, a family-owned pharmacy headquartered in Livingston, N.J., is a provider of advanced fertility medications and services. The business will operate under its current name. Walgreens Specialty Pharmacy is a business unit of Walgreen Co.