FINANCE

Valentino to Open 35 Stores

BY CSA STAFF

Milan Valentino chairman and CEO Stefano Sassi said the company plans to expand the number of directly owned stores to over a 100 from its current 65, according to a report in Women’s Wear Daily.

Valentino is also looking at developing a new store concept, which will be used for key flagship stores beginning at the end of the year, the report said.

Sassi noted that the company plans to double its 2007 consolidated sales of $381.4 million during the next five years by posting annual sales increases of 15%. He also said Valentino hopes to nearly triple accessories sales, which currently $73 million, over the same period.

Valentino is looking to attract a younger, trendier consumer while not losing the brand’s current clientele, the report said.

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Bloomingdale’s to shift direct-to-consumer focus online

BY CSA STAFF

NEW YORK Bloomingdale’s is shifting the focus of its direct-to-consumer business to its stronger performing bloomingdales.com Web site, where sales growth has far outpaced he Bloomingdale’s By Mail catalog in recent years. As such, the company said it will discontinue its By Mail catalog by 2009.

“Bloomingdale’s is focused on growing its online business, increasing profitability and reflecting a seamless brand and merchandise selection, whether it be in-store or online,” commented Michael Gould, Bloomingdale’s chairman and ceo.”

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Tuesday Morning names new director to board

BY CSA STAFF

DALLAS Tuesday Morning announced the appointment of Starlette Johnson to its board of directors.

Johnson is currently president, coo, and director of Dave and Busters and has served in that capacity since April 2007.

 

“We are pleased to welcome Starlette to the Tuesday Morning board of directors,” said Bruce Quinnell, chairman of the board. “We believe her extensive experience will make her a valuable addition to the board and an asset to the company.”

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