News

By Arthur Sweetser, [email protected]

Oakland, Calif. -- Cost Plus reported Friday that its loss widened in the second quarter to $8 million, from $7 million in the year-ago period.

Sales for the quarter rose 3.2% to $197.9 million, and same-store sales increased 2.8%.

The retailer of home living and entertainment products closed five stores in the first six months of fiscal 2011, and said it expects to relocate one store in the third quarter of fiscal 2011.
 

RIDGELAND, Miss. — Viking Culinary Group announced that it has introduced a new line of branded outdoor grills from celebrity chef Emeril Lagasse.

Products in the Emeril grill line include:

New York City -- Supporting continued strength in the luxury sector, Tiffany & Co. reported Friday that profit for the quarter ended July 31 soared 33% to $90 million, from $67.7 million a year earlier. Results surpassed Wall Street estimates, and the jewelry retailer raised its full-year profit outlook.

Revenue surged 30% in the quarter, to $872.7 million, beating analysts’ expected $785.6 million.  Same-store sales jumped 22%.

NEW YORK — The economic headwinds so often cited by mass market retailers as a drag on financial results had no impact on luxury goods retailer Tiffany during the second quarter. The company’s earnings per share excluding non-recurring charges increased 58% to 86 cents, well ahead of the 70 cents analysts’ expected as the retailer’s customers didn’t let lingering unemployment and economic uncertainty dampen their enthusiasm for luxury goods.

WAYNE, N.J. — Toys"R"Us announced that "Desperate Housewives" star Eva Longoria will be featured on the cover of its 2011 edition of the Toys"R"Us Toy Guide for Differently-Abled Kids. Longoria will be featured alongside Elijah De La Cerda, a 5-year-old boy with Down syndrome from Fresno, Calif., the company announced. Released annually, this complimentary resource is created with guidance from the National Lekotek Center, a nonprofit organization dedicated to making play accessible to children of all abilities.

New York City -- A Wednesday report by Bloomberg said that Borders and Books-A-Million reached an agreement for a lease sale involved 14 Borders superstores and specialty stores for $934,209.

Citing documents filed Wednesday in U.S. Bankruptcy Court in Manhattan, the report said the store locations include Portland, Maine; Canton, Ohio; Concord, N.H.; and Mays Landing, N.J.

The agreement is conditional on approval by the bankruptcy court by Aug. 29. A deal for Books-A-Million to buy 30 Borders locations fell through in July.

Seeing as how the 10th anniversary of the Sept. 11 terrorist attacks falls on the final day of the Walmart NW Arkansas Championship presented by P&G, tournament officials faced the delicate challenge of developing a respectful way to observe the event.

What they came up with was the following: