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6/18/2007

RETAILER NEWS

IKEA opened the doors of its 310,000-square-foot Draper, Utah, store on May 23. The unit is the company’s 30th store in the United States and 255th worldwide. Other units in development include Brooklyn, N.Y.; Charlotte, N.C.; Portland, Ore.; Somerville, Mass; Sunrise, Tampa and Orlando, Fla.; and West Chester, Ohio.

Crate and Barrel will introduce its first store in Nevada in Summerlin Centre, the future downtown of a master-planned community located on the Las Vegas Valley’s western rim. The 34,000-square-foot Crate and Barrel will be a two-level unit, according to developer General Growth Properties.

In announcing results for the period ended May 5—including sales of $82.3 million versus $92.6 million a year earlier, a loss of $7.5 million, or 38 cents per share, versus $3 million or 16 centers per share, and comparable-store sales of 18.8%—Robert Alderson, Kirkland’s board chairman and ceo, characterized traffic trends as challenging and asserted that they reflect continued softness across the home decor retail sector.

Tuesday Morning launched its latest sales period—or event, as the company likes to state it—on June 5. The event focuses on Father’s Day as well as gourmet cookware, dinnerware and kitchen accessories.

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