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IKEA to open Georgia distribution center

BY HBSDEALER Staff

Swedish retail giant IKEA has said it plans to open a 685,000-square-foot distribution center in Savannah, Ga., according to a report in the Atlanta Journal-Constitution.

The distribution center, to be located at Savannah’s International Trade Park, is slated to eventually expand to 1.7 million square feet.

The Swedish company plans to expand heavily in the United States, with new locations planned in New York, Washington, Ohio, Florida and other locales.

The distribution center reportedly will support stores in Atlanta and Texas, with future stores on deck in Charlotte, N.C., and Florida.

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Restoration Hardware lowers outlook

BY HBSDEALER Staff

Restoration Hardware has lowered its fiscal 2007 earnings guidance, due to a challenging, competitive environment in the home furnishings market and weakness in the home-building sector.

The company says it now expects a loss-per-share of between $0.21 and $0.19, “reflecting below-plan revenues and a higher-than-anticipated mix of promotional selling.”

“The company has several new growth vehicles in place that we expect will drive revenue growth in the second half of the year, including the recent introduction of Restoration Hardware Trade [and] the continued rollout of the Restoration Hardware Bed & Bath Catalog,” said Gary Friedman, president and CEO.

The company also has announced a redesigned Web site that will launch in the fall.

Additionally, the company said it has signed a 15-year lease for a new distribution center in West Jefferson, Ohio. The company said construction would begin this fall on the 800,000-square-foot facility.

The facility will be used to stock the company’s East Coast retail stores and its non-furniture, direct-to-consumer business.

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Lowe’s plans distribution center in Mississippi

BY HBSDEALER Staff

Lowe’s is planning to build an approximately $15 million distribution center in Mississippi, according to the Hattiesburg American newspaper.

Construction for the 130,000-square-foot facility is planned for October in Purvis Industrial Park, in Purvis, Miss. The facility is expected to employ 35 people, according to the newspaper.

In a May conference call with investors, Lowe’s COO Larry Stone discussed the company’s longstanding plans to expand distribution capabilities. Lowe’s most recently opened a new distribution center in Rockford, Ill., part of a company goal to grow inventory at 75 percent of sales growth. Another new distribution center has been planned for Lebanon, Ore.

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