OfficeMax Q1 profit plummets, to close 35 stores
Naperville, Ill. — OfficeMax Inc. reported Tuesday that net income for the quarter ended March 31 slid to $4.9 million, compared with $11.4 million in the year-ago period. Results were hampered by charges related to U.S. store closures.
Total sales edged up 0.5% to $1.9 billion. In the retail segment, sales dipped 2.7% to $912.3 million; same-stores sales fell 2.1%.
The office supply retailer said it plans to close as many as 35 stores in the United States this year, with one or two openings on tap. In Mexico, OfficeMax will open eight to 10 stores and close one to two.
‘Modern Family’ star launches home line at Kmart
HOFFMAN ESTATES, Ill. — "Modern Family" star, Sofia Vergara, is expanding her brand at Kmart with the launch of a new, exclusive home collection. The actress’ apparel line launched at Kmart and on Kmart.com in the fall of 2011.
Sofia by Sofia Vergara Home features both bedding and bath products. The bedding collection includes decorative pillows, 400-thread count sheets, and three-piece bed sets. The bath collection offers fashion towels, rugs, shower curtains, and free standing accessories, including soap dishes, toothbrush holders, lotion pumps, and waste baskets.
"The expansion of the Sofia by Sofia Vergara collection into Home provides our customers with yet another beautiful design option when decorating," said Nick Grayston, SVP and president footwear and home for Sears Holdings. "We value the authenticity that comes from our collaboration with Sofia. We’re particularly pleased to strengthen our home portfolio with Sofia’s brand, designed especially for a contemporary, fashion-conscious customer. We look forward to welcoming Sofia Vergara’s designs to the Kmart Home family."
Nicole Richie to design latest Impulse collection for Macy’s
NEW YORK — Macy’s has partnered with fashion icon Nicole Richie (daughter of famed singer Lionel Richie) for an exclusive line for the company’s Impulse division. Nicole Richie for Impulse will launch in 100 Macy’s stores and at Macys.com in September and will feature apparel inspired by Richie’s trendsetting personal style, including 1970s influenced silhouettes, prints and fabrications, the company said.
"Macy’s is the epitome of American fashion," said Nicole Richie. "Their iconic stamp on the world of retail has not only touched the lives of consumers, but has also become a significant part of pop culture. I am
thrilled to have this opportunity to work with Macy’s and create a collection that channels the individual artist in all of us."
Items in the collection will range in price from $49 to $149 and include such pieces as asymmetrical skirts, cropped tops and fitted jackets.
"We are extremely excited to have Nicole Richie design the next capsule for our Impulse designer series," said Jeff Gennette, Macy’s chief merchandising officer. "Not only is she on everyone’s best dressed list,
but her talent for fashion and design, as well as her charismatic persona resonate with our Impulse customer."