Home & Textiles Today Staff -- Home Textiles Today, December 24, 2001
Wal-Mart brings import operations in-house
Wal-Mart Stores has confirmed that it will bring all of its import operations in-house beginning Feb. 1, ending its relationship with Hong Kong-based Pacific Resources Export Ltd. Pacific Resources sources product for Wal-Mart from Asia, Europe, South America, the Indian subcontinent and the Middle East. Wal-Mart's new global procurement division will consist of 20 offices worldwide, including Shenzhen in southern China, Costa Rica, Italy and India.
Bed Bath and Beyond opens record number of stores
After it opens its few remaining scheduled locations in its fiscal fourth quarter, Bed Bath and Beyond will have achieved the highest number of single-year store openings, 85, in its 30-year history, said Steve Temares, president. Plans for fiscal 2002, however, will top this number, with 88 new locations scheduled for the year — 15 openings in the first quarter, 24 in the second, 40 in the third and nine in the fourth, said Ron Curwin, cfo and treasurer. New stores are expected to generate $150 to $175 per square foot during the first 12 months of operation.
Martha Stewart adds Internet president
Martha Stewart Living Omnimedia has appointed Shelley Nandkeolyar to the new position of executive vp, president, Internet/Direct Commerce. He reports to Sharon Patrick, president and coo. In this new post, Nandkeolyar will oversee all aspects of MSO's Internet and direct commerce business segment, which consists of www.marthastewart.com and the Martha by Mail catalog. Nandkeolyar was previously vp of the eCommerce division of Williams-Sonoma.
Mednick Talks to HTT about Online Trends for Textiles