Home & Textiles Today Staff -- Home Textiles Today, July 9, 2007
Hefner to Direct Home at Wal-Mart
Linda Hefner has been named evp and general manager for the home unit at Wal-Mart Stores U.S., reporting to Eduardo Castro-Wright, president of the U.S. stores division. Hefner will develop the company's overall home strategy, brand management and product development. She previously was evp for global strategy and business development for Kraft Foods. Prior to Kraft, she was an executive at Sara Lee Corp. from 1989 to 2003, where she began as a director of strategic planning and eventually served as ceo of three different apparel divisions.
Delisted Bombay Co. Heads to OTC
Specialty retailer the Bombay Company has arranged for its common stock to be quoted on the OTC Bulletin Board under the ticker symbol BBAO.OB, after the New York Stock Exchange delisted the stock prior to trading on June 28. Delisting occurred after the market capitalization fell below $75 million and shares traded below $1.00 for 30 consecutive days. The company said it "expects to continue to be actively traded."
IKEA Southeastern DC Opens
Home furnishings retailer IKEA, which has 41 stores in the United States and Canada, has begun full operation of its Southeastern distribution center in Savannah, Ga. The 685,000 square-foot DC is the first phase of a project that will expand to 1.7 million square feet. Besides current Southeastern and Texas stores, the facility will support future stores opening fall 2007 in Orlando and Sunrise, Fla., and planned for 2009 in Charlotte, N.C. and Tampa, Fla.
Mednick Talks to HTT about Online Trends for Textiles