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Retail Briefs

Hanover achieves positive first-half results

Hanover Direct announced during its conference call last week that it achieved the best first half results from ongoing operations since 1994 as well as the first positive second quarter net earnings from ongoing operations since that time. The company reported net earnings of $1.8 million for the 13 weeks ended June 29, compared with $12.7 million for the comparable period last year. The results for the 13-week periods ended June 29, 2002, and June 30, 2001, include $0.3 million and $24.3 million, respectively, in after tax gains resulting from the sales of the Improvements business and the Kindig Lane property in 2001. Ed Lambert, executive vp and cfo, also discussed signed agreements to pursue Internet and list management strategies. Hanover will announce an agreement with an Internet affiliate to launch a program in the fourth quarter, he said.

Cuddldown provides glimpse of new lineup

With its fall catalog now in the mail, Cuddldown gave subscribers of its e-mail service a sneak peak at its new offerings last week. The 15 home textiles items included sheets, quilts, bed skirts, blankets, throws, mattress pads, foam pads, featherbed covers and pillow covers. Among the offerings were a 100 percent wool herringbone blanket, $139 for full/queen; a cotton percale comforter cover made in Italy at $139; all-cotton, triple-hemstitched sheets made in Portugal at $179 for a queen set; and 50" x 60" throws made of 72 percent silk along with cotton and polyester at $89.

Family Dollar augments store base with 55 openings

Family Dollar Stores Inc. has expanded its store base to 4,545 units with a reported opening of 55 stores during the four-week period ended Aug. 3. New locations included nine in Texas; five in Florida; four each in Arizona, Louisiana and Michigan; three each in Ohio and Virginia; two each in Illinois, Massachusetts, Nebraska, New York, Utah and Wisconsin; and one each in Alabama, Arkansas, Georgia, Indiana, Maryland, Mississippi, Missouri, New Jersey, New Mexico, North Carolina and Pennsylvania.

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