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Sweet Dreams collection makes its debut

BY Ryan Chavis

CINCINNATI — Procter & Gamble, in support of the National Sleep Foundation’s Sleep Awareness Week 2014, announced the launch of its newest fabric care line, the Sweet Dreams Collection. The products are formulated with ingredients that not only clean and soften, but help to create a relaxing sleep environment, the company said.

“It’s hard to unwind and turn off your mind at the end of the day especially when technology like laptops and smartphones are so readily accessible and easy to use in bed,” said Dr. Ian Smith, celebrity physician and wellness expert. “In fact, the use of electronics before bedtime is one of the biggest issues doctors notice in patients who struggle to relax in order to fall asleep. That’s why I recommend patients start with simple solutions I’ve tried myself like turning off electronics at least 30 minutes before bedtime and creating an ideal sleep environment, including washing linens and pajamas in the Sweet Dreams Collection.”

The line includes:

  • Tide plus A touch of Downy Sweet Dreams, available nation-wide for a SRP of $13.99 for a 48-load bottle;
  • Downy Unstopables Dreams, available for a SRP of $6.99;
  • Downy Infusions Sweet Dreams, available for a SRP of $4.99-$5.99 for 40 loads; and
  • Bounce Sweet Dreams, available for a SRP of $4.89-$5.99 for a 150-count box.

 

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Dollar Tree realizes annual net sales increase of 6.1%

BY Michael Johnsen

CHESAPEAKE, Va. — Dollar Tree on Wednesday posted sales of $2.2 billion for the fourth quarter ended Feb. 1, down slightly by 0.9%. However, fourth quarter 2012 included 13 weeks as compared to the 12-week period for fiscal 2013. 

For fiscal year 2013, the company’s consolidated net sales were $7.8 billion, up 6.1%. Comparable store sales increased 2.4%. Fiscal 2012 included 53 weeks, as compared with 52 weeks in fiscal 2013.

Comparable store sales increased 1.2%. 

"Dollar Tree delivered record earnings and our comparable-store sales grew, despite severe weather, a shorter holiday selling period and a challenging economic environment," said Bob Sasser, Dollar Tree CEO. "More customers are shopping Dollar Tree, responding to our incredible values and convenient shopping experience. Our inventories are fresh and our stores are full of exciting merchandise for the spring season." 

During the fourth quarter, Dollar Tree opened 51 stores, expanded or relocated four stores and closed 12 stores. Retail selling square footage increased 6.9% compared to a year ago, to 43.2 million sq. ft.

 

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Target sees decline in Q4 sales

BY Antoinette Alexander

MINNEAPOLIS — Target announced on Wednesday a decline in fourth-quarter sales and earnings; however, executives expressed optimism as they plan for the new fiscal year and work to restore consumer confidence following the data breach.

“For more than 50 years Target has succeeded by focusing on our guests,” stated Greg Steinhafel, chairman, president and CEO of Target. “During the first half of the fourth quarter, our guest-focused holiday merchandising and marketing plans drove better-than-expected sales. However, results softened meaningfully following our December announcement of a data breach. As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests and deliver irresistible merchandise and offers, and we are encouraged that sales trends have improved in recent weeks.”

During the fourth quarter, total sales dropped 3.8% to $21.5 billion. Net earnings for the quarter totaled $520 million, or 81 cents per share, compared with $961 million, or $1.47 per share, in the year-ago period.

In its U.S. segment, fourth quarter sales decreased 6.6% to $20.9 billion, reflecting the impact of an additional accounting week in 2012 and a 2.5% decrease in same-store sales. Full year 2013 sales in the U.S. segment decreased 0.9% to $71.3 billion, reflecting the impact of an additional accounting week in 2012 and a 0.4% decrease in same-store sales.

For full-year 2013, total sales rose 0.9% to $72.6 billion. Net earnings dropped 34.3% to $1.97 billion.

As previously reported, Target experienced during the fourth quarter a data breach in which an intruder gained unauthorized access to its network and stole certain payment card and other guest information. The company incurred $17 million of net expense in the fourth quarter, reflecting $61 million of total expenses partially offset by the recognition of a $44 million insurance receivable. These expenses include, but aren’t limited to, costs related to investigating the breach, offering credit-monitoring and identity theft protection services to guests and increased staffing in its call centers.

Looking to fiscal 2014, the company noted that it is not able to estimate future expense related to the data breach.

 

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