The Container Store began trading on the New York Stock Exchange, under the ticker symbol “TCS.” Expectations were high: On Thursday, the retailer set its IPO price at $18 per share, higher than the originally-expected range of $14 to $16 per share.
Big Lots plans to close down its wholesale operations, Big Lots Wholesale, Consolidated International and Wisconsin Toy, by the end of the current fiscal year. The move is the latest in the company’s strategy to refine its business model and focus on its retail stores.
Restoration Hardware has appointed Katie Mitic to its board of directors. Mitic, who will also serve on the board’s audit committee, has nearly 20 years of strategic product, marketing and business development experience.
The opening of a new Sears Appliance & Hardware store in Dallas, Texas, marks two milestones for the hardware subsidiary operating under Sears Hometown and Outlet Stores. It is the debut of the smaller, neighborhood model that will become a company standard for all new locations and the first brand new Sears Appliance & Hardware store to open in the past 10 years.
PBTeen is heading to Long Island, N.Y., for the first time. The PBteen store will join sister brands Pottery Barn and Pottery Barn Kids in the first-ever combined location at Walt Whitman Shops, with pass-through access to all three stores. The new store will feature the retailer's new holiday gift assortment.
Sears Holdings is considering spinning off its Lands’ End and Sears Auto Center brands as part of a wide-ranging strategic review of its business. The company’s Sears Canada subsidiary has also sold five Canadian store leases to Cadillac Fairview Corporation Limited for about $383.4 million.
Fortune Brands Home & Security, a leading home and security products company, has named Jason Baab as VP of mergers and acquisitions. His role will support the company’s growth strategy that includes expanding its portfolio.