News

Lowe’s Q3 Earnings Up 15.5%

BY CSA STAFF

Wilkesboro, N.C., Lowe’s Cos. income rose 15.5% in the third quarter to $522 million, up from $452 million in the same period last year. Comp-store sales increased 5.2% as total sales increased to $9.1 billion, from $7.8 billion a year ago.

“Continued signs of a robust housing market, improving employment and strong demographic trends provide a foundation for our optimism for the future,” Robert Tillman, chairman and chief executive, said in a statement.

The company’s 5.2% comps on top of the 12.2% increase in last year’s third quarter marked the best two-year performance in almost a decade.

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 ...
INVENTORY

REI to Expand Distribution Center

BY CSA STAFF

Sumner, Wash., Recreational Equipment Inc. (REI) plans to expand its distribution center here in Sumner, near the company’s Seattle headquarters.

The construction, scheduled to begin this month, will add 144,000 sq. ft. of floor space to the facility, which currently comprises 375,000 sq. ft. of floor space. Also, beginning next year, the retailer will upgrade the technology and equipment that move inventory throughout the facility.

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

Castagna Leaves JCPenney

BY CSA STAFF

Plano, Texas, Vanessa Castagna decided to leave JCPenney when her employment contract expires this Sunday, the retailer said today. Castagna was chairman and CEO of JCPenney stores, catalog and Internet. Her responsibilities will be held by Ken Hicks, president and COO of JCPenney stores and merchandise operations, until a permanent successor is found.

It was widely speculated that Castagna would leave JCPenney when she was passed over as the replacement for retiring company CEO Allen Questrom late last month. The job was instead given to Myron Ullman, who joined the retailer from LVMH and was once CEO of Macy’s.

Castagna has been with JCPenney since 1999.

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 ...