BUSINESS EXPANSION:In a revision of the scope of its business, Gordon Bros. Group has committed $100 million to purchase excess consumer goods directly from manufacturers and retailers. The Boston-based company, best known for liquidations of inventory on behalf of retailers, now can take direct ownership of excess inventory for disposition through third-party channels. The company is adding staff to facilitate the new transactions and has made them a part of its updated online marketplace at retailexchange.com.CLAIRE SAILING: Teen costume jewelry and accessories specialty retailer Claire's Stores Inc. upped its second-quarter earnings forecast to 23 cents a diluted share from 17 cents as sales through the first three weeks of June remained "very strong," according to Rowland Schaefer, chief executive. Results would reverse last year's loss of 2 cents a share. In addition, the Pembroke Pines, Fla.-based company said it now expects to report earnings per share of $1.15 for the full year, compared to 84 cents last year. Claire's shares closed up $1.23, or 6 percent, at $21.66, 72 cents shy of its 52-week high, reached April 19, in New York Stock Exchange trading Thursday.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus