Home improvement chain closings outweighed openings in June
In its monthly list of home center openings and closings, Chain Store Guide showed 25 new home channel chain stores opened in the United States, while 116 closed in June. Home center stores include major big-box chains such as Home Depot, Lowe’s and Menards.
That’s a shift from May, when 42 new home channel chain stores opened in the United States and 26 closed.
In June, the Midwest showed the highest percentage both of home channel stores that were opened (28 percent of the total) and stores that were closed (30 percent).
Stores under the header of “category killers” did not fare as well — while 281 new stores opened nationwide, 989 stores closed. Discount stores showed more strength, with 15 total openings nationwide and no closings.
Chain Store Guide is a subsidiary of Lebhar-Friedman, publisher of Home Channel News.
Lifetime Brands names new CFO
Lifetime Brands, marketer of housewares under several names including Cuisinart, KitchenAid and Farberware, has named Laurence Winoker senior vp-finance, treasurer and CFO.
Winoker replaces Robert McNally, who is retiring.
Winoker most recently served as senior vp, controller and treasurer for MacAndrews & Forbes Holdings. He also formerly served as senior vp, corporate controller and treasurer for Revlon from 1999 to 2003.
Winoker holds a bachelor’s degree in economics and accounting from the City University of New York.
Westbury, N.Y.-based Lifetime Brands is a designer, developer and marketer of housewares and kitchen accessories.
Container Store purchased by private firm
Specialty retailer Container Store has sold the majority of its stock to private investment firm Leonard Green & Partners, based in Los Angeles.
Leonard Green & Partners has major investments in several other companies, such as Petco and David’s Bridal. Terms of the deal were not disclosed, but Leonard Green & Partners said it intended to keep Container Store’s current management team.
Container Store will take on a new six-member board of directors, consisting of company CEO Kip Tindell, president Melissa Reiff and chief merchandising officer Sharon Tindell. From Leonard Green & Partners, board members will be vp Jonathan Sokoloff, vp Kristofer Galashan and partner Timothy Flynn.
“We’re excited about what the future holds for everyone involved, as we continue to deliver our brand of retail and look forward to making everything about our great company even greater,” said Kip Tindell in a statement.
Container Store has 39 locations in the United States, with future stores planned in Denver and Cherry Hill, N.J.