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Lifetime Brands’s growth initiative pays off in Q1
Lifetime Brands, a leading global provider of branded kitchenware, tableware and other products used in the home, is seeing the results of its aggressive growth strategy — which included the acquisition of four businesses during the period — in the first quarter ended March 31.
Consolidated net sales for the quarter were $118.4 million, soaring 20% from $98.7 million for the corresponding period in 2013.
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Aéropostale exiting malls with youth format
Teen specialist Aéropostale lent credence to the “malls are dying” voices by announcing the closure of 125-mall based stores and the elimination of 100 headquarter positions.
Citing changing shopping patterns among moms, Aéropostale said it planned to close 125 of its 150 P.S. from Aéropostale stores which focus on kids ages four through 12. The move is part of a larger cost reduction program related to a turnaround strategy that is expected to result in annual savings of $30 to $35 million.