Supply Chain & Merchandising

Boston — A group of private equity companies, including Advent International and CDIB Capital, have joined together to acquire a significant equity position in International Coffee & Tea, which owns and operates stores under The Coffee Bean & Tea Leaf banner, with an eye on expanding in Asia. Other investors participating in the transaction include Mirae Asset Private Equity and the Sassoon family (the latter is the largest existing shareholder of The Coffee Bean, and is remaining as a substantial shareholder).

As the winter season approaches, Burlington Coat Factory experienced overall sales growth that led to a comparative store sales increase of 7.8% for the second quarter ended Aug. 3.

Total net sales increased 11.5% to $963.7 million for the months quarter compared with last year.

“We are proud of our second quarter results including 11.5% overall sales growth and, most important, our 7.8% comparative store sales increase. I would like to thank our store and corporate teams for contributing to these results,” said Tom Kingsbury, president and CEO. 

DANBURY, Conn. — Ethan Allen Interiors has appointed Dave Moore as the company’s VP and chief brand officer.

“Ethan Allen has been here for over 80 years,” Ethan Allen’s chairman, president, and CEO Farooq Kathwari explains, “but we must do everything we can to make sure our brand is as relevant today and tomorrow as it has always been.”

Vancouver, B.C. – Lululemon Athletica Inc. reported a slight drop in net income during second quarter 2013.

Net income dipped about 1% to $56.45 million, from $57.7 million.

Net revenue grew 22% to $344.5 million from $282.6 million, and same-store sales increased 8%.

New York – Cloud-based e-commerce, mobile apps and mobile wallets are among the most important IT trends affecting retailers as they enter the 2013 holiday shopping season.

Verizon Communications, Inc. has compiled a list of the biggest IT trends for this year’s holiday season. Following are highlights:

Although retail sales in August increased, they came in at a much slower pace than anticipated, according to the National Retail Federation. Sales (excluding automobiles, gas stations and restaurants) increased 0.1% seasonally adjusted from last month, and increased 3.9% unadjusted year-over-year.

Bi-Lo Holdings and Harris Teeter announced plans to acquire select Piggly Wiggly-branded stores. Bi-Lo plans to acquire 22 Piggly Wiggly stores in South Carolina and coastal Georgia. Harris Teeter plans to purchase six locations and a future store location in the Charleston, S.C., area.

Pittsburgh – Dick’s Sporting Goods, Inc. will open a new store in El Paso, Texas, on Sept. 20.

The El Paso location at The Fountains of Farah will be the retailer's 20th store in the state of Texas and its 532nd nationwide. The new store will feature more than 40 in-store services performed by Dick’s certified pros.