Office Depot’s Profits Dip
Delray Beach, Fla., Office Depot said Tuesday its third-quarter results fell 9%. The office supply chain cited the economic slowdown in the U.K., and higher costs in North America.
Net income fell to $117.5 million in the three months ended Sept. 29, compared to $129.1 million for the quarter a year ago. The latest period also includes a $33 million tax benefit.
“There are signs of an economic slowdown in the U.K. which, if it persists, could provide continued challenges to the division’s operations in the future,” an Office Depot spokesman said in a statement.
While sales climbed 2% to $3.94 billion from $3.86 billion a year ago, North American same-store sales fell 5% for the quarter.
Dillard’s debuts female activewear dept.
LITTLE ROCK, Ark. Dillard’s announced today the launch of its new female-oriented activewear department.
Dillard’s new Tranquility department features yoga-inspired multipurpose activewear supporting the multi-faceted, busy lifestyle of the female Dillard’s customer, the company reported.
According to the company, the Tranquility department is designed for the busy woman, who may not have the time to change clothes after going to exercise. The clothes are meant to be functional at the gym, but fashionable enough to be worn throughout the day, Dillard’s announced.
Dillard’s president Alex Dillard stated, “The launch of Tranquility is a perfect example of how we are responding to the changing needs of our customer with fashions supportive of her active lifestyle and reflective of her contemporary attitude.”
Tranquility features six active apparel lines is currently found in 25 Dillard’s locations. Selections from Tranquility are also available online at www.dillards.com. The company expects to expand the department to 100 stores for the upcoming spring 2008 season and into additional locations for fall 2008.
‘Heroes’ star to represent Dooney & Bourke
NEW YORK “Heroes” star Hayden Pannettiere will represent the Dooney & Bourke this December as the brand’s guest designer for the company’s national ad campaign, Dooney & Bourke announced last week. As part of the collaboration, Dooney & Bourke is introducing The Hayden Bag, which is targeted toward the young consumer.
Using Panettiere ideas, designer Peter Dooney created the limited edition Hayden Bag, which retails for $500, the company reported.
The collections featured in the Hayden advertising campaign are scheduled to hit Dooney & Bourke retail boutiques by the end of the year. They will also be available at department stores such as Bloomingdale’s, Lord & Taylor, Macy’s, and Nordstrom and online at www.dooney.com.