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House2home Inc

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CALIFORNIA | LOCAL
October 24, 2001 | LESLIE EARNEST, TIMES STAFF WRITER
House2Home Inc., besieged by a sharp drop in business since the Sept. 11 terrorist attacks, said Tuesday that it will turn away deliveries of new merchandise for as long as three weeks to cut its inventory. "We're at capacity now, and we don't want to take on more inventory, given that sales have slowed," said Michele Feller, spokeswoman for the Irvine chain of home decorating stores.
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BUSINESS
November 27, 2001 | Marc Ballon
House2Home Inc., which is liquidating merchandise at its 42 home-furnishings stores, said it has received Bankruptcy Court permission to honor all gift certificates and credit vouchers. The Irvine chain, which stopped redeeming these items after filing for bankruptcy protection Nov. 7, received more than 500 complaints in a two-week period, spokeswoman Allison Withers said. Customers now can exchange the certificates and vouchers for merchandise but not for cash, she said.
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BUSINESS
November 27, 2001 | Marc Ballon
House2Home Inc., which is liquidating merchandise at its 42 home-furnishings stores, said it has received Bankruptcy Court permission to honor all gift certificates and credit vouchers. The Irvine chain, which stopped redeeming these items after filing for bankruptcy protection Nov. 7, received more than 500 complaints in a two-week period, spokeswoman Allison Withers said. Customers now can exchange the certificates and vouchers for merchandise but not for cash, she said.
BUSINESS
November 8, 2001 | MARC BALLON, TIMES STAFF WRITER
Battered by the economic fallout from the terrorist attacks, House2Home Inc. said Wednesday that it is going out of business, closing all 42 home furnishing stores only months after splashy grand openings. House2Home, which converted the stores to cavernous home-furnishing businesses after struggling for years as a home-improvement chain, said the sluggish economy had slowed sales. But the business went into a tailspin after the Sept.
BUSINESS
November 3, 2001 | Marc Ballon
Beleaguered home-decorating retailer House2Home Inc. said it is facing a cash crunch as sales continue to slump. The Irvine company, acknowledging that it is running out of options, said it failed to make an interest payment due Thursday and is discussing "liquidity issues and various financial scenarios" with its bank group. The statement did not provide details, and executives did not return calls. The retailer's statement, released after the close of U.S.
BUSINESS
October 24, 2001 | Leslie Earnest
House2Home Inc., besieged by a sharp drop in business since the Sept. 11 attacks, said it will turn away deliveries of new merchandise for up to three weeks to cut its inventory. The Irvine-based chain announced last week that sales had fallen 25% to 30% after the attack and said it had hired an investment banking firm to explore "various strategic and financial alternatives." Still, the announcement was a surprise, said Brett Hendrickson, an analyst with B. Riley & Co.
BUSINESS
October 17, 2001 | Times Staff and Wire Reports
House2Home Inc. said Tuesday its losses will be wider than expected for the third quarter and fiscal year because of a sharp decline in sales after the terrorist attacks. Sales since the Sept. 11 attacks are running 25% to 30% below the previous sales rate, said the Irvine company, which operates a chain of home decorating stores. In the third quarter last year, House2Home lost 27 cents a share on sales of $334.4 million. For the fiscal year ended Jan. 27, the company reported a loss of $1.
BUSINESS
November 8, 2001 | MARC BALLON, TIMES STAFF WRITER
Battered by the economic fallout from the terrorist attacks, House2Home Inc. said Wednesday that it is going out of business, closing all 42 home furnishing stores only months after splashy grand openings. House2Home, which converted the stores to cavernous home-furnishing businesses after struggling for years as a home-improvement chain, said the sluggish economy had slowed sales. But the business went into a tailspin after the Sept.
BUSINESS
September 1, 2001 | Leslie Earnest
HomeBase Inc., taking another step to distance itself from its unsuccessful past as a home-improvement chain, said Friday it will change its name to House2Home Inc., reflecting its shift into home decorating. The Irvine company recently completed an overhaul of its business, closing its home improvement stores and reopening 42 of them as House2Home stores. The name change takes effect Sept. 8. The stock will trade under the symbol HTH on the New York Stock Exchange, the company said.
BUSINESS
November 21, 2001 | ANNA DRIVER, REUTERS
Retailer Target Corp. posted higher third-quarter profit as sales at its flagship discount chain thrived in the weak U.S. economy, but mall-based clothing chains Limited Inc. and Intimate Brands reported losses as falling consumer confidence took its toll. In recent quarters, discount chains and others offering lower prices have fared better than department stores and apparel chains. After the Sept.
BUSINESS
November 3, 2001 | Marc Ballon
Beleaguered home-decorating retailer House2Home Inc. said it is facing a cash crunch as sales continue to slump. The Irvine company, acknowledging that it is running out of options, said it failed to make an interest payment due Thursday and is discussing "liquidity issues and various financial scenarios" with its bank group. The statement did not provide details, and executives did not return calls. The retailer's statement, released after the close of U.S.
BUSINESS
October 24, 2001 | Leslie Earnest
House2Home Inc., besieged by a sharp drop in business since the Sept. 11 attacks, said it will turn away deliveries of new merchandise for up to three weeks to cut its inventory. The Irvine-based chain announced last week that sales had fallen 25% to 30% after the attack and said it had hired an investment banking firm to explore "various strategic and financial alternatives." Still, the announcement was a surprise, said Brett Hendrickson, an analyst with B. Riley & Co.
CALIFORNIA | LOCAL
October 24, 2001 | LESLIE EARNEST, TIMES STAFF WRITER
House2Home Inc., besieged by a sharp drop in business since the Sept. 11 terrorist attacks, said Tuesday that it will turn away deliveries of new merchandise for as long as three weeks to cut its inventory. "We're at capacity now, and we don't want to take on more inventory, given that sales have slowed," said Michele Feller, spokeswoman for the Irvine chain of home decorating stores.
BUSINESS
October 17, 2001 | Times Staff and Wire Reports
House2Home Inc. said Tuesday its losses will be wider than expected for the third quarter and fiscal year because of a sharp decline in sales after the terrorist attacks. Sales since the Sept. 11 attacks are running 25% to 30% below the previous sales rate, said the Irvine company, which operates a chain of home decorating stores. In the third quarter last year, House2Home lost 27 cents a share on sales of $334.4 million. For the fiscal year ended Jan. 27, the company reported a loss of $1.
BUSINESS
November 11, 2001 | Times Staff
The Federal Reserve moved aggressively again to prop up the nation's terrorist-attack-rattled economy by cutting its benchmark interest rate to a 40-year low. It was the central bank's 10th cut this year. Fed Chairman Alan Greenspan and his colleagues on the policymaking Federal Open Market Committee slashed the federal funds rate, which banks charge each other for short-term loans, half a percentage point to 2%. The rate began the year at 6.5%.
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