GDA Staff -- Gifts & Dec, November 29, 2004
Schlaepfer Out at LNT
Audrey Schlaepfer, executive vice president and chief merchandising officer of Linens 'n Things, has resigned. She plans to pursue other opportunities, according to the company. At this time, no successor has been named. Her resignation was not entirely unexpected and comes only months after Jack Moore, a former top merchandiser at Kohl's, joined Linens 'n Things as president and chief operating officer.
Hanover Fix Will Cost $2.6 Million
Hanover Direct stated that the impact of an accounting error in place since 1998 will result in a $2.6 million reduction in revenue and related income. The error related to the treatment of discount obligations owed to members of some of the company's buyer's club programs.
Williams-Sonoma Goes Beyond Catalog
Williams-Sonoma's first Williams-Sonoma Home catalog has been in circulation for less than 12 weeks, but already the company is planning to open bricks-and-mortar stores to expand the luxury home furnishings concept. According to the company's Web site, three to five Williams-Sonoma Home stores will open in fall 2005.
Saks to Close Mississippi McRae's
Saks Incorporated will close its 69,000-square-foot McRae's store at the Meadowbrook Mart in Jackson, Miss., by the end of January 2005. The company will continue to operate its three other McRae's stores in metropolitan Jackson located at the Dogwood Festival Mall, Northpark Mall, and Metrocenter Mall.
Target to Build Rialto DC
Target plans to build a 1.6 million-square-foot regional distribution center in Rialto, Calif.
Construction on the site, located at Casa Grande and Alder Avenue, began this fall and is expected to be completed in summer 2006. Regional distribution centers receive shipments from suppliers, ship products directly to Target stores, and provide storage space for merchandise.
The Rialto distribution center will initially employ 500, with several hundred added during the first five years of the facility's operation. Hiring for the facility will begin in early 2006.
Target currently has 22 distribution centers in 19 states.
Duckwall-Alco CEO Retiring
Duckwall-Alco's president and CEO will retire April 30, 2005, remaining on board until then to assist with the transition of a successor.
Glen Shank will remain on the board of directors until his retirement from the company, which operates 265 full-line discount and hometown variety stores in 21 states in the central United States. Until last week, he also served as chairman of board. The new chairman is Warren Gfeller, who joined the board of in December 2003 and currently serves as a director for several companies.
Shank has served as president and CEO since 1988, and chairman and CEO since 1991.
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