STORE SPACES

Ikea acquires Irish wind farm to power locations in Ireland

BY Katherine Boccaccio

New York — Swedish retailer Ikea has bought a wind farm in Ireland to power its furniture stores in Dublin and Belfast, according to a report by the Belfast Telegraph.

The Irish facility’s four turbines are expected to generate 25,000 megawatt-hours (MWh) of electricity and bring the total number of Ikea-owned windmills to more than 100 in the U.K., Germany, France, Poland, Denmark and Sweden.

Ikea also recently opened a new Swedish wind farm with seven turbines (with an option on another four) to produce 72,000 MWh of wind energy, to be managed by O2, according to the report. Augmenting its wind energy is a strong Ikea solar program. As of June, Ikea had solar panels on 39 of its 44 facilities, totaling close to 38 MW.

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FINANCE

Rona swings to loss in Q2

BY Katherine Boccaccio

New York — Canadian home-improvement retailer Rona reported a loss of $136.5 million for the second quarter, compared with a profit of $36.9 million a year earlier, hurt by restructuring costs and tightened market conditions.

According to a report by Reuters, Rona revenue fell 4.6% to $1.21 billion, and same-store sales dipped 1%. Analysts expected revenue of $1.35 billion.

The country’s largest home-improvement retailer, under pressure from U.S. competitors Home Depot and Lowe’s, is in the throes of a turnaround plan which has led to store closures, a shuffling of the board, and a newly named CEO.

"This is a totally new Rona we are building," CEO Robert Sawyer said on a conference call. "We need to change the culture, to make it a leaner, more efficient, and more agile organization."

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OPERATIONS

Coldwater Creek names former Loft exec as CMO

BY Katherine Boccaccio

Sandpoint, Idaho — Coldwater Creek announced the appointment of Deborah Cavanagh as senior VP and CMO, effective Sept. 16.

Cavanagh, who arrives Coldwater Creek from Loft where she was senior VP brand marketing, led the repositioning of Loft as a differentiated brand from Ann Taylor. She will lead Coldwater Creek’s multi-channel brand marketing and creative services.

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