Linens ‘n Things to Shutter More Locations
Clifton, N.J. Bankrupt retailer Linens ‘n Things Inc. has asked a judge for permission to close 87 more stores, according to The Record.
The report said Linens ‘n Things referenced “the decline in the housing market and the tightening of the credit markets which have led, respectively, to a decline in consumer discretionary spending,” in court papers filed July 3.
Linens ’n Things filed for bankruptcy protection in May.
The sale of the additional stores must be approved by U.S. Bankruptcy Court Judge Christopher Sontchi, the report said.
Best Buy turns to new categories for sales boost
ATLANTA Best Buy is looking to make some changes, such as adding more musical instruments at some stores, in an effort to double annual sales over the next five years, according to a Reuters report.
Best Buy executives speaking at an Oppenheimer Consumer Growth Conference said that while the company will continuing to seek growth in its more traditional electronics categories, growth in non-core segments, like musical instruments, was also important, Reuters reported.
In addition, company executives said digital services and international expansion were key to sales growth.
Chai named latest Target GO International designer
MINNEAPOLIS Richard Chai has become the latest designer to create a limited-edition collection for Target as part of its GO International program. The Richard Chai line will debut on Aug. 3 at Target.com/go and at most Target stores and will be available throughout the month of August.
“Richard Chai has created a sophisticated and contemporary collection for Target,” said Trish Adams, senior vp of Target. “Richard’s keen eye for detail and design aesthetic translates beautifully into a dynamic, well-tailored collection that is chic, wearable and that women across the country will love.”
The Richard Chai for Target collection, ranging in price from $12.99 to $79.99, includes wardrobe essentials such as structured dresses, jersey draped tees, twill shorts, skinny denim trousers and exposed front-zipper miniskirts.
Richard Chai for Target collection, ranging in price from $12.99 to $79.99, includes wardrobe essentials such as structured dresses, jersey draped tees, twill shorts, skinny denim trousers and exposed front-zipper miniskirts.