November 18, 1998 |
Home Depot Inc., Dayton Hudson Corp. and other retailers reported strong profit gains for the third quarter as the economy boosted sales of everything from paint and other household goods to casual clothes. Home Depot, the biggest U.S. retailer of home improvement supplies, said its net income increased 31% to $392 million, or 20 cents a share, a penny higher than expected. Revenue surged 24% to $7.7 billion as strong housing sales fueled demand for its home and building supplies.
June 25, 2008 |
Retailer Pier 1 Imports Inc. said Tuesday that it was withdrawing its offer to buy rival Cost Plus Inc. for $88 million. Pier 1 said it was unlikely that it would be able to buy the company at a price that would make sense for its shareholders. The company offered to buy Cost Plus this month in a stock swap transaction. In the proposal, Pier 1 said it would issue 0.6 of a share of its common stock for each share of Cost Plus common stock, implying a value of $4 a share. Last week, Cost Plus' board of directors rejected Pier 1's offer.
February 18, 1998
* Thomas Walters, president of Morton's Restaurant Group Inc.'s Morton's of Chicago steakhouse division, was named president and chief operating officer of Solana Beach-based Chart House Enterprises Inc. * Redwood Shores-based Network Computer Inc., jointly owned by Oracle Corp. and Netscape Communications Corp., said it named David Roux president and chief executive, replacing Jerry Baker, who resigned. * Oakland-based Cost Plus Inc. named President Murray H.