SUPPLY CHAIN

Kohl’s to close distribution center in Wisconsin

BY CSA STAFF

New York City Kohl’s Corp. plans to close its distribution center in Menomonee Falls, Wis., where the company is based.

The closing is set for Jan. 29, 2010, and will affect 250 jobs. It followed an assessment of the company’s distribution network.

The affected employees, including part-time and full-time workers, will be offered identical jobs at the remaining 10 DCs, the company said.

The 84 stores that used the Menomonee Falls DC will use the company’s center in Ottawa, Ill. Kohl’s remaining DCs are in seven states. None are in Wisconsin.

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Tuesday Morning 1Q comps suffer, expects loss

BY CSA STAFF

DALLAS Tuesday Morning reported net sales for the first quarter 2009 were $165.9 million compared with $173.4 million for the quarter ended Sept.30, 2008, a decrease of 4.3%. Comparable-store sales for the quarter decreased by 5.8%, comprised of a 1.7% decrease in traffic and a 4.1% decrease in average ticket.

Based on the first quarter sales results, the Company currently expects the loss per share for the first quarter to be in the range of 11 cents to 13 cents. The loss per share was 10 cents for the quarter ended Sept. 30, 2008.

 

“Credit and housing woes continued to impact the discretionary spending behavior of our customers,” said Kathleen Mason, president and CEO. “The quarter started slowly during the ‘cash for clunkers’ program, but picked up in September. Our trend in comparable store sales and customer traffic continued to improve. We successfully managed inventory and kept expenses in line with revenues. Our balance sheet improved with low usage and high availability on our line of credit.”

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There is hope for home

BY CSA STAFF

The home category continues to face its share of challenges on the demand side, something Target knows all too well. However, there is business to be had and profits to be made, as category leader Bed Bath & Beyond proved last week. The company beat analysts’ earnings estimates by four cents a share, when it reported a second quarter profit of 52 cents a share on sales that increased a modest 3.3% to slightly more than $1.9 billion. Same-store sales declined 0.6%. Bed Bath & Beyond is a beneficiary of the recession, as it saw its major direct competitor, Linens ‘N Things, eliminated.

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