Yankee Candle to Shutter Illuminations
South Deerfield, Mass. Yankee Holding Corp. and wholly owned subsidiary The Yankee Candle Co., Inc. announced a restructuring plan that involves closing the company’s 28 Illuminations stores and the related Illuminations consumer-direct business. One underperforming Yankee Candle will also be closed, the company said.
Yankee expects to close the Illuminations stores by April 30. It acquired the Illuminations business in July 2006 and plans to continue to develop and market Illuminations-branded products primarily through it core wholesale business, it said.
The restructuring “has no impact on our plans for Yankee Candle retail store growth, and we currently expect to continue to open new Yankee Candle retail stores at a pace similar to that of recent years,” said Craig Rydin, chairman and CEO, Yankee Candle.
Yankee expects to incur charges related to the restructuring plan of approximately $18.0 million to $22.0 million total, part of which will be taken in the fourth quarter of fiscal 2008 and the remainder in the first quarter of 2009.
JEWEL-OSCO, Coca-Cola partner for Black History Month
ITASCA, Ill. JEWEL-OSCO is partnering with Coca-Cola to honor Black History Month with special in-store promotions, beginning Thursday, February 5, through Sunday, March 1. The offers at select JEWEL-OSCO stores in the Chicagoland area are part of “A Taste of Black History.”
During the month-long celebration, consumers will be able to enjoy and familiarize themselves with more than 25 JEWEL-OSCO African-American vendors, by sampling dishes prepared with their products. Consumers will also have an opportunity to enter the “Cookin’ Combos” Sweepstakes, at participating JEWEL-OSCO stores, and win a year of free groceries worth a total of $5,000.
“We are proud of our African-American vendors,” said JEWEL-OSCO community relations manager La Toya Dixon. “They work tirelessly to provide great products for our customers and this program highlights their achievements. We are glad they are part of the JEWEL-OSCO family and wish them continued success.”
CE sales see slight boost after tough holiday
SAN JOSE, Calif. According to Tech Channel Index, U.S. electronics retailers had their first week of marked improvement finishing week of Jan. 3 just 2% below last year’s sales of consumer IT and entertainment electronics products. This is a large jump after finishing the holiday shopping season 28% below last year.
Tech Channel reported that broadline and office supply channel sales of consumer IT and entertainment electronics have improved 28% and 4% respectively over the last year. During the same time period, online retail sales channel stayed flat through the holiday shopping season and finished down 4% over last year.