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Briefs: Pier 1; Kirkland's; Bed, Bath & Beyond
September 26, 2007

Sept. 20-Pier 1 Imports reported today that sales dropped 7% for the 10th consecutive quarter, with comparable store sales falling 3.6%. For the quarter ending Sept. 1, the retailer reported a narrower loss than last year at this time, $43.4 million compared to a loss of $73.1 for the same period a year ago, but still fell short of analysts’ expectations. 

Sept. 19-Kirkland's, Inc. today announced the resignation of  Sharyn Hejcl as the company's Vice President and General Merchandising Manager. Christine Treganowan, the Company's Divisional Merchandising Manager, will serve as interim General Merchandising Manager. Prior to joining Kirkland's in June 2007, Ms. Treganowan enjoyed a 23-year career with Sears Holdings and its predecessor, Kmart Corporation, most recently as its Divisional Vice President, Store Operations. She also held several merchandising positions at Sears Holdings, including  Divisional Vice President, Merchandising and Divisional Merchandise Manager, Home.

Sept. 26 -- Bed Bath & Beyond today reported net earnings of $147 million in the fiscal second quarter ended Sept. 1, 2007, compared with net earnings of approx. $145.5 million in the same quarter a year ago. Net sales for the fiscal second quarter of 2007 were approximately $1.768 billion, an increase of approximately 10% from net sales of approximately $1.607 billion reported in last year’s fiscal second quarter. Comparable store sales grew by approx. 2.2%, compared with an increase of 4.8% in the fiscal second quarter of 2006.

Net sales for the fiscal first half of 2007 were approximately $3.321 billion, an increase of approximately 10.6% from net sales of approximately $3.003 billion in the corresponding period a year ago. Comparable store sales for the fiscal first half of 2007 increased by approximately 1.9%, compared with an increase of approximately 4.8% in last year's fiscal first half.

As of Sept. 1, 2007, the company operated a total of 914 stores, including 831 Bed Bath & Beyond stores (10 of which were opened during the fiscal second quarter) in 48 states, the District of Columbia and Puerto Rico. Since the fiscal third quarter began on Sept. 2nd, eight additional Bed Bath & Beyond stores have opened, including the company's first store in the state of Wyoming.

Posted by Susan Dickenson on September 26, 2007 | Comments (0)