By Staff -- Home Textiles Today, 9/3/2007 12:00:00 AM
Martha Redoes Macy's Windows
For the first time in the history of Herald Square, Macy's will dedicate every display window on the "World's Largest Store" to one product line, timed to this month's launch of the Martha Stewart Collection. Every green awning has been replaced by a pastel blue one with the Collection logo. This honor is usually reserved for the building's holiday displays. Sidewalk shoppers will have a view of virtually the entire new line of soft and hard home goods.
Cost Plus Banks on EDLP
Amid a same store sales decrease of 7.6% for the second quarter, Cost Plus World Market had confidence in its new everyday low price (EDLP) strategy. Barry Feld, ceo and president of the 296-store specialty chain, pointed to the success of its back-to-college event in July as an example. Merchandise resets, including for the bath category, emphasize the Cost Plus shift to high-value, high-velocity products. Feld cited progress in "continuing to migrate customers away from high-low promotional pricing to an everyday value pricing strategy, and extending the reach of opening price points across more merchandise categories."
Net sales were flat year-to-year at $215.2 million. The net loss widened to $18.0 million from a loss of $14.2 million for the same period last year.
Jo-Ann Comps Rise, Loss Narrows
Jo-Ann Stores saw "very positive" results from remodeled stores, even as second quarter losses narrowed and comp store sales swung up strongly. The 789-unit fabric and craft chain's 26 remodels are yielding double-digit comps. Meanwhile the company is downtrending its home accents department. The quarterly net loss was $18.4 million, tighter than the $21.2 million loss one year ago. Same-store sales increased 7.0% — a dramatic reversal of last year's 8.4% comp decline.
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