On Tuesday, Chip and Joanna Gaines, of HGTV’s “Fixer Upper” announced plans for a new home-decor line to hit Target stores nationwide in November.
“Just as we’ve never created an exclusive line of product for a retailer before, Target has never done anything like this before either,” Chip Gaines wrote in a blog post. “This stuff is gorgeous. (Joanna and Target’s design team) have all spent so much time thoughtfully creating these beautiful basics. A lot of heart and soul has been poured into every last piece ... and I think people are going to be able to feel that.”
Many excited fans took to social media to express excitement and support for the couple’s new brand, Hearth & Hand.
In his blog post, Chip Gaines explained some of the reasons the couple has enjoyed working with Target:
“Despite our initial insecurities about partnering with a large retailer, Target has exceeded our expectations every step of the way. With our friends, our family and with the people we do business with, we are serious about continually finding common ground ... One of the main reasons we decided to team up with Target is because we have found them to be the gold-standard when it comes to generosity and giving. This really resonates with us. Jo and I believe that to whom much is given, much is required. As our platform has grown, so has our desire to help communities far beyond Waco, Texas.
“Right now, Joanna is busy designing some pretty incredible updates for the community dining room at Target House, which serves hundreds of families whose kids are being treated at St. Jude Children’s Research Hospital in Memphis. Target House is a free home away from home for St. Jude patients and their families during the hardest of life’s circumstances, providing a safe place for these families to be together. In November, we’ll get to reveal the updated dining room to the families of St. Jude, and then share a meal together to kick off the holiday season. We are humbled to be even a small part of their stories and thankful that this collaboration gives us the opportunity to be involved in such meaningful projects, like this one with St. Jude Children’s Research Hospital.”
Target stores nationwide will reduce prices on thousands of items, including toilet paper, baby formula, razors, milk, eggs, cereal and other groceries, among other items, the company announced Friday.
Target also announced plans to simplify signage at stores that indicate sales and promotions, saying it would cut more than two-thirds of its “price and offer call-outs” so that customers can more easily spot savings.
“We want our guests to feel a sense of satisfaction every time they shop at Target,” said Mark Tritton, Target executive vice president and chief merchandising officer. “Part of that is removing the guesswork to ensure they feel confident they’re getting a great, low price every day.
“We’ve spent months looking at our entire assortment, with a focus on offering the right price every day and simplifying our marketing to make great, low prices easy to spot, all while maintaining sales we know are meaningful to guests. And guests are taking note, appreciating much easier, more clear -- and more consistent savings -- at Target.”
Gap Inc., which owns Gap, Banana Republic, Old Navy, Athleta and two other brands, will close hundreds of stores to make way for new ones.
According to The Associated Press, the clothing retailer plans to close 200 Gap and Banana Republic stores in the next three years. The company plans to open 270 new Old Navy and Athleta stores during that time.
The move supports efforts to leverage Old Navy and Athleta, which have reported rising sales, while Gap and Banana Republic have reported drops in sales.
Gap Inc., like many other retailers, has seen the impact of consumers’ preference to shop online, making it difficult for some brick-and-mortar stores to report significant earnings.
According to the AP, Old Navy is on track to surpass $10 billion in sales in the next few years, and Athleta is expected to exceed $1 billion in sales.
Read more at The Associated Press.
The newest cheap home decor chain is on its way to the United States.
The parent company of T.J. Maxx and HomeGoods is launching a new home store concept called Homesense. Parent company TJX announced in March that it would open a new discount chain selling home decor items, but didn’t release any other information.
The company told People magazine that Homesense stores in the U.S. will be similar to the locations already open in Europe and Canada. The stores will offer furniture, art, sodas, chairs, pool tables, lighting and other home decor items.
Homesense also carries items like cleaning essentials, home improvement items, hardware items and storage supplies. The first store will open Aug. 17 in Framingham, Massachusetts, and more locations are set to open this year in New Jersey.
“Just as our customers enjoy shopping both TJ Maxx and Marshalls, we are confident that loyal customers and new shoppers alike will be excited about shopping both Homesense and HomeGoods,” HomeGoods and Homesense president John Ricciuti said in a statement. “We are excited to bring consumers an expanded selection of quality merchandise at incredible prices, along with a new shopping experience in which they can discover and curate the home of their dreams.”
According to reports, there are three major differences between HomeGoods and Homesense: the “general store” offerings including hardware, home improvement and cleaning materials, the store’s layout and availability of more furniture and big design items.
Read more here.
Children’s retailer Gymboree filed for Chapter 11 bankruptcy Sunday and will close more than 375 stores, according to Fortune.
The retailer said it could close up to 450 of its 1,281 stores as the company reorganizes.
The San Francisco-based company says it is seeking to reduce its debt by $900 million. It expects to operate its business and majority of its stores during the restructuring.
“The steps we are taking today allow the company to definitely address its debt and enable the management team to turn its full focus toward executing our key strategies,” Gymboree CEO Daniel Griesemer said in a statement.
Gymboree is the latest retailer to file Chapter 11 bankruptcy, close stores or go out of business entirely in 2017. Shoe chain Payless ShoeSource filed for bankruptcy protection in April and The Limited closed all 250 of its remaining stores early this year. Teen retailer Wet Seal in January said it would close its 171 stores.
Brianna Chambers contributed to this report.
Luxury retailer Jimmy Choo is on the market.
The BBC reports the high-end shoe brand is seeking offers, but has not yet received any bids.
Jimmy Choo believes a sale would “maximize ... value for its shareholders,” a company statement said Monday.
Right now, the British brand has a market value of nearly $900 million and operates more than 150 stores worldwide.
JAB Holdings Inc., a long-term investment company, currently holds 68 percent of Jimmy Choo. While it is “supportive of the process,” it also said there is “no certainty that an offer will be made, nor as to the terms on which any offer will be made.”
JAB Holdings, which also holds ownership in Krispy Kreme and Caribou Coffee, purchased Panera Bread earlier this month.
Jimmy Choo was co-founded in 1996 by former “Vogue” editor Tamara Mellon and Choo, who once worked for Princess Diana.
The brand received global attention after its shoes appeared in films “Sex and the City” and “The Devil Wears Prada.”
A single pair of Jimmy Choo shoes can sell for more than $1,000.
Traditional retailers have faced recent tough times. Many iconic brands, from Bebe to Ralph Lauren, are closing stores and taking other drastic measures to stay afloat. Department stores, including Macy’s, Sears, and J.C. Penney, are shuttering mall locations nationwide. Billionaire investor Warren Buffett blamed the trend in part on the rise in popularity of e-commerce companies, such as Amazon.
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If you’re looking to buy a dishwasher at a discounted price, you might be able to find one at hhgregg, as long as you get there before the end of May.
The going-out-of-business sales have begun for the 62-year-old electronics and appliances retailer.
On Friday, April 7 -- about a month after filing for Chapter 11 bankruptcy -- hhgregg announced that it will close all 220 of its stores by the end of May, affecting about 5,000 jobs across the U.S.
"While we had discussions with more than 50 private equity firms, strategic buyers and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors,” hhgregg CEO Bob Riesbeck said in a statement.
Shoppers have just a few weeks to use gift cards at hhgregg. The IndyStar reports that hhregg is limiting refunds on items bought before March 6 to $2,850.
Hhgregg is one of many retailers closing stores within the first half of 2017. Bebe and Wet Seal announced closings of all stores nationwide. News that Payless ShoeSource had filed for Chapter 11 bankruptcy surfaced last week. Earlier this year, J.C. Penney announced it would close more than 100 stores across the county.
Avoid these so called “healthy foods." They just might turn a healthy meal on its head and counteract your weight loss efforts.
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