Eric Easter -- Home Textiles Today, October 11, 2004
Saks to Open Prototype Parisian
Saks Incorporated said it will open its first Parisian store in the state of Arkansas in fall 2006, a prototype that will include decorative home and specialty gift items as well as apparel.
The 120,000-square-foot specialty department store will be part of Pleasant Ridge Town Center, an open-air, lifestyle center being developed in Little Rock.
George Jones, president and CEO of Saks Department Store Group, said, “This store will be quite unlike a typical department store. We have spent the past couple of years combing the world to discover the most innovative retail concepts, and we will incorporate many of these elements into what will be a very unique and exciting shopping experience.”
Gottschalks Hires New GMM of Home
Gottschalks Inc. has appointed Donald Engelman vice president and general merchandise manager of the Home Store Division.
He will oversee Gottschalks' home division, including textiles, housewares, tabletop and furniture. Engelman will report to Gary Gladding, executive vice president of merchandising.
Jim Famalette, president and CEO of Gottschalks, said, “Gottschalks' home store is a key segment of our business, and Don's expertise will bring valuable leadership to this important division.”
Engelman joins Gottschalks with more than 25 years of experience in the retail industry focused on home store merchandise. Prior to joining Gottschalks, he served as vice president, divisional merchandise manager, tabletop, gifts, Trim a Home and luggage, for the May Department Store Company.
Pier 1 Selling Special Finds
Pier 1 Imports is launching a new proprietary line of merchandise, called Special Finds in all its stores.
This collection of merchandise was previously available in only 11 large-format Pier 1 stores.
The Special Finds collection will feature approximately 200 additional Pier 1 products available for order, ranging from full-sized, upholstered furniture to hand-carved armoires, large-scale vases and hand-touched wall decor.
Customers can expect shipping to their store of choice within two weeks. Delivery options directly to customers' homes come with an additional fee.
Jo-Ann Lowers Earnings Guidance
As September sales ticked up slightly, Jo-Ann Stores has adjusted its guidance for the third quarter ending Oct. 30. The retailer now anticipates earnings per share for the third quarter of 30 to 35 cents, versus previous guidance of 47 to 52 cents.
Earnings per share guidance for fiscal 2005 is now expected to range from $2.05 to $2.15 per share, versus $2.25 to $2.30.
Through the first nine weeks of the third quarter, net sales were $287.8 million versus $288 million for the same period last year. Comps decreased 1.3 percent for the nine weeks versus a year-ago increase of 6 percent. September sales were $167.3 million, up 1.3 percent.
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