Restoration Hardware names former Limited Brands exec to board
Corte Madera, Calif. — Restoration Hardware Holdings Inc. has named Dr. Leonard Schlesinger to its board of directors. He will also serve as the chairman of the board’s compensation committee.
Schlesinger has held executive leadership positions at various retail and consumer brands, including vice chairman and COO of Limited Brands from 1999 to 2007, and has served for more than 20 years as a professor of business administration at Harvard Business School, and previously served as the president of Babson College.
“We are thrilled to have Len join the board,” said Gary Friedman, chairman and CEO. “He is a true thought leader and we will benefit greatly from his wisdom and experience as we continue our pursuit of becoming one of the most innovative and admired brands in the world.”
Lane Bryant opens new store in Michigan
Columbus, Ohio – Lane Bryant opens a new store at Genesee Valley Center in Flint, Michigan, on April 25. From April 25-27, Lane Bryant will give away 50 $25 gift cards each day.
Lane Bryant operates 775 stores across the U.S.
Amazon net income soars in Q1
Seattle – Amazon.com’s net income soared 32% during the first quarter of fiscal 2014, climbing to $108 million from $82 million the same quarter a year earlier. Net sales increased 23% to $19.74 billion in the first quarter, compared with $16.07 billion in first quarter 2013.
Amazon credited the release of numerous new services during the quarter as helping to drive its impressive performance. These include Fire TV, a box that plugs into HDTV for access to a wide variety of digital content, and associated developer tools; Prime Instant Video for the U.K. and Germany; Prime Pantry, a new service available only to Prime members offering exclusive access to low-priced everyday items; the Amazon Dash mobile home shopping device; Flow, a new way to search for items on its iPhone app; and expanded categories for its online stores.
Looking ahead, in the second quarter of fiscal 2014, net sales are expected to be between $18.1 billion and $19.8 billion, or to grow between 15% and 26% compared with second quarter 2013.
“We get our energy from inventing on behalf of customers, and 2014 is off to a kinetic start,” said Jeff Bezos, founder and CEO of Amazon.com. “Our device team launched Fire TV, offering great content, including our recently announced exclusive deal with HBO, and innovative features like unified voice search, which we’re delighted is being adopted by so many new partners, including Netflix, HBO Go, Hulu Plus, Crackle and Showtime Anytime. The team is working hard to keep Fire TV in stock. Our retail team launched Prime Pantry, a new option available only to Prime members offering exclusive access to everyday essentials in non-bulk sizes — ranging from breakfast foods and popular soft drinks, to cleaning and personal care items. And, our AWS team significantly lowered prices on EC2, S3 and RDS, saving AWS customers hundreds of millions of dollars over the next several months alone.”