News

Linens ‘N Things

BY CSA STAFF

NORTHBROOK, Ill. The remaining 371 Linens ‘N Things stores will begin closing their doors on Oct. 17. In conjunction with the closings, the stores will be selling off items at up to 30% off their regular price. The store closing sale is being conducted by a joint venture group comprised of Hilco Merchant Resources, Gordon Brothers Group, Hudson Capital, SB Capital Group LLC, Great American Group LLC and Tiger/Nassi Group.

Michael Keefe, president and ceo Hilco Merchant Resources, said, Consumers will find great values on everything in the store. Many items will be discounted like never before. This sale comes at a perfect time for everyone to enjoy large savings on many of their holiday gift purchases. Consumers who arrive at the start of the sale will certainly have the best selection of products from which to choose. We dont expect this sale to last very long.

The end of LNT was in sight earlier this week when no buyer emerged to purchase the struggling housewares chain. An auction was scheduled for interested bidders on Oct. 14, but when no buyers submitted a qualified bid, the auction was canceled, according to court documents.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

Burlington Coat Factory cuts 1Q loss

BY CSA STAFF

BURLINGTON, N.J. Burlington Coat Factory reported that net sales for the first quarter ended Aug. 30 were $707 million, compared with $678.8 million for the comparative period ended Sept. 1, 2007, a 4.2 % increase. Comparative-store sales increased 0.2% for the quarter.

The company recorded a net loss of $32.5 million for the quarter compared with a net loss of $50.4 million for the same period last year.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

NRF ask Congress to consider 2nd stimulus package

BY CSA STAFF

WASHINGTON The National Retail Federation is urging Congress to hold a lame duck session to address the nation’s economy as soon as possible after the November elections, and to include tax relief for consumers in any economic stimulus package that is adopted.

The United States is in the midst of a national crisis, NRF president and ceo Tracy Mullin said. Extraordinary measures are needed to address this profound economic emergency that has affected every American. 

Consumer confidence has been badly eroded by the foundering economy and instability of the financial markets, Mullin said. Because consumer spending represents two-thirds of GDP and supports tens of millions of jobs, it is difficult if not impossible to foresee an improvement in overall economic growth until consumer confidence and spending improve. 

Mullin said she believes a second round of stimulus checks would provide a much-needed boost in consumer spending.

 

Mullins comments came in a letter sent today to House Speaker Nancy Pelosi, D-Calif.; House Minority Leader John Boehner, R-Ohio, Senate Majority Leader Harry Reid, D-Nev., and Senate Minority Leader Mitch McConnell, R-Ky.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...