LNT Outlines Objectives
May 9, 2005-- Home Textiles Today,
Clifton, N.J. — Linens ’n Things executives reiterated the company’s strategy for 2005 during a brief annual shareholders meeting last week: becoming "the store of first choice" for consumers, injecting more newness across all price points, and boosting productivity.
The company remains on the hunt for new brands, according to Jack Moore, president and chief operating officer. He also noted that the distinctions are blurring between proprietary brands and what have traditionally been considered "national" brands as the retail field consolidates into a coterie of large-scale chains.
"I think the whole brand game has changed," Moore said following the meeting. "One of the beauties of being a very large chain is that even when you have a proprietary brand, it’s larger."
He added the retailers’ foray into product development and direct sourcing has created a new business model.
Rather than quibble over who ought to generate new ideas and create product — the retailer or the supplier — "the real win-win long-term is for suppliers that work on what’s best for both of us," Moore said.
Linens ’n Things remains on track to announce the hiring of a chief merchandising officer by the end of the second quarter, he said. The company is looking for an executive with strong merchandising and leadership skills who can continue to grow in the position.
"We’ve talked to many people," Moore said. "It’s my top priority to find a partner to who can help me lead the company."