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The fallout from the current economic downturn is hitting retailers hard. Linens 'n Things, a home-goods merchandiser, is going out of business. Last month, it began closeout sales at its remaining 371 stores in 48 states. More than $1 billion of the retailer's home furnishings will be sold by liquidators.
WEST COVINA - After filing for bankruptcy more than a month ago, the Steve & Barry's clothing chain has completed some of its planned 103 store closures, and a location at the Westfield West Covina mall is soon to follow. Located on the second level between JCPenny and Sears, the Steve & Barry's store is still offering closeout sales before it moves out. The store's final day hasn't yet been announced, but 24 other company stores closed Sept. 24.
People picking up furniture they bought during closeout sales and an auction at Boll Furniture got an unpleasant surprise from the city on their vehicles' windshields. All day long Wednesday, dozens of customers' vehicles were lined up around the block.
Weyco Group Inc. Net income increased for the Glendale manufacturer of men's shoes as a result of higher gross margins across all brands, due to better margins on new styles and fewer closeout sales. Higher interest income on investments also contributed to revenues. Before the announcement, shares closed down 83 cents at $23.89.
In an industry famous for high markups and perpetual closeout sales, diamond e-tailers have brought clarity and competition to pricing jewelry. Says Scott Devitt, a senior analyst at Legg Mason: "They expose diamonds for the commodities they are. E-tailers' costs are lower than for local jewelers because they spend less on labor and leases, and they keep their inventories lean. As a group, e-tailers rang up about $340 million in engagement- ring sales in 2005.
...* Net Sales from continuing operations increased to $4.7 milli... margin sales coupled with decrease in closeout sales of slow moving and discontinued styles. Sell...
...(b) For each of any two consecutive sales days during the marketing season a warehouse may e...During the closeout period, if a warehouse sells tobacco in excess of ...
At Evans Lumber Co. in South Charleston, they're used to customers asking for whatchamacallits and thingamajigs. We're the kind of hardware and lumber store where you come in and ask and our salesman will go with you and help you find the item you need and give you advice," said owner Don Evans. "We offer the personal touch.
...We will of course have closeout sales later. But for right now the shelves are ful...
...* Total International sales up 12% compared with combined MetLife and Alico fo...and U.K. pension closeout businesses, structured settlements and other benef...
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