Garden Ridge Promotes Execs

Garden Ridge has promoted Jack Lewis to chairman and Steven Higgins to president as part of its turnaround.

Lewis had been CEO. Higgins joined the retailer in May as senior vice president and general merchandise manager.

Said Lewis, “We are all focused on making Garden Ridge a category killer in home décor, and as chairman, I will be able to spend all of my time leading our efforts to that end.”

Garden Ridge, which has been operating under Chapter 11 bankruptcy since February, also said it signed five more lease amendments with landlords. The new lease amendments bring the total of re-negotiated leases to 15. The remaining 20 are in the final stage of negotiations, the company said.

The retailer said it experienced a slight decline in September sales but improved its gross margin by 0.2 percent. Comps were down slightly at 1.6 percent.

Said Higgins, “Hurricane Ivan hurt our sales in three markets, and we experienced delays in merchandise deliveries.” He added that the company's performance is continuing to improve in domestics, furniture, art and housewares.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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HTT August 2017

See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.

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