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.
January 10, 2009 |
Specialty retailer Cost Plus Inc. said Friday that it was closing 26 stores and exiting eight regional markets in response to the current economic downturn. "We were disappointed with our holiday sales results and larger-than-anticipated markdowns resulting from the tough economic climate and exceptionally poor weather conditions in certain geographic areas," said Barry Feld, chief executive of Cost Plus.
July 10, 2008 |
Pier 1 Imports Inc., the biggest U.S. retailer of imported furniture, will close 20 to 25 stores before the end of the year to cut costs. The company also will eliminate excess distribution center space, it said in a regulatory filing. Costs from closing stores and terminating leases will be as much as $8 million. Fort Worth-based Pier 1 withdrew an offer last month to buy Cost Plus Inc., saying the price would be too high, and instead decided to focus on its own turnaround. The company has already closed 79 stores and sold its headquarters.