April 17, 2006,
Bed Bath & Beyond Boosts Store Size
The average size of stores opened by Bed Bath & Beyond was larger in 2005 than in preceding years; it will likely continue this trend in 2006 as merchandise assortments broaden. “We will also continue to upgrade existing stores to enhance customer experience,” said co-chairman Leonard Feinstein. BBB will add about 76 new locations this year to the current store count of 746.
Sears Holdings High on Sears Canada
Pier 1 Reports Loss, Notes Aims
Pier 1 Imports reported a 2005 net loss of $39.8 million, which included an after-tax loss from discontinued operations of $12.3 million. Sales declined 2.7% to $1.78 billion for 2005, and comps fell 7.1%. The fourth quarter showed better results, said chairman and ceo Marvin Girouard, with sales climbing 0.7% to $506.0 million, and a comp sales drop of 2.9%. The chain has doubled its outlet store count to help clear stale goods; is closing underperforming units more aggressively; has dramatically trimmed its mix; and is pumping up catalog-driven sales.