Staff Staff -- Furniture Today, August 21, 2006
Brocade Home Catalog to Debut
Restoration Hardware next month will launch a new catalog brand, Brocade Home. The project is overseen by Lisa Versacio, who created West Elm for Williams-Sonoma. Teaser images at www.brocadehome.com show bedding, dec pillows, furniture and accent pieces that are richer, more ornamental and feminine that Restoration Hardware designs. The company called Brocade “a fresh new home and lifestyle brand that fuses with past with modern sensibility.” The catalog can be pre-ordered at the site.
TJX Records Big Home Gains
Helped by strong same-store gains in its Winners/HomeSense, T.K. Maxx, and HomeGoods operations, off-pricer TJX Companies Inc. drove second quarter profits up a heady 24.7%, to $138.2 million from $110.8 million last year. Overall sales climbed higher by 9.3%, to $4.0 billion from $3.6 billion last year, and same-store sales improved by 4.0%. Winners/HomeSense reported a 17% jump in U.S. same-store sales, and a 13% increase in the domestic T.K. Maxx operation. HomeGoods reported a boost of 4.0%. All sharply outpaced the 2.0% growth in the apparel-driven core business of Marmaxx.
Bloomie's New Home Fashion Director
Kevin Harter, operating vp and director for the men's fashion office at Bloomingdale's, has been promoted to vp of fashion direction for home, young world and men's, a new position reporting to Joe Laneve, senior vp, gmm for home furnishings, and to David Fisher, executive vp, gmm, young world and men's. Harter began his career with Bloomingdale's in the North Michigan store in 1988, and joined the executive training program in 1990, rising to his most recent position in 2004. Of Harter's track record in apparel, Laneve said, “He has helped bring in brand-right resources, and intensified existing brand and designer relations in terms of developing exclusive products, marketing activities and events.”
Jo-Ann Stores Names Kerr CFO
Jo-Ann Stores has promoted James Kerr to executive vp and cfo. Kerr, who joined the 800-unit fabric and craft retailer in 1998, was most recently vp, controller; he also served as chief accounting officer. Prior to joining Jo-Ann, he held various finance posts at The Limited, at the Revco drugstore chain, and at Arthur Andersen.
Monaghan is CFO of Sears Holdings
Sears Holdings has named Craig Monaghan cfo, effective Sept. 1. He will report to chief administrative officer William Crowley. Monaghan was most recently executive vp and cfo at AutoNation. Prior to that he was cfo at iVillage.com, and previously worked in financial roles at Reader's Digest Association, Bristol-Myers Squibb, and General Motors.
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