Financial and business news about home textiles retailers, manufactuers, and suppliers en-us http://www.hometextilestoday.com/community/Financial/47388.html?nid=3783 2008 Reed Business Information. Subject to its Terms of Use. Tue, 08 Jul 2008 23:23:20 MST http://www.hometextilestoday.com/article/CA6576146.html?nid=3783 Washington – Alleging “false and misleading” statements by NexCen Brands executives, a law firm based here has filed a class action complaint in the U.S. District Court for the Southern District of New York on behalf of purchasers of NexCen common stock. Mon, 07 Jul 2008 13:57:00 MST http://www.hometextilestoday.com/article/CA6575457.html?nid=3783 Gonzales, La. – Infant and juvenile products supplier Crown Crafts Inc. reached an agreement with dissident shareholders led by Wynnefield Partners Small Cap Value that alters the makeup of the board of directors in exchange for Wynnefield refraining from proxy battles through 2009. Thu, 03 Jul 2008 09:21:00 MST http://www.hometextilestoday.com/article/CA6573919.html?nid=3783 New York – In a form 8-K filed yesterday with the Securities and Exchange Commission, HSN parent IAC/InterActive Corp. said it will take a writedown on goodwill of about $300 million for its catalog retail division Cornerstone Brands. Fri, 27 Jun 2008 13:10:00 MST http://www.hometextilestoday.com/article/CA6573920.html?nid=3783 Oakland, Calif. – In the wake of the (now withdrawn) takeover bid by Pier 1 Imports, the board of directors of Cost Plus Inc. has renewed its preferred shares rights agreement through June 2013. Fri, 27 Jun 2008 13:10:00 MST http://www.hometextilestoday.com/article/CA6573610.html?nid=3783 Baldwyn, Miss.– Hancock Fabrics has filed a plan of reorganization in the Delaware bankruptcy court that has been supported by its creditors and equity committees. Thu, 26 Jun 2008 13:17:00 MST http://www.hometextilestoday.com/article/CA6572023.html?nid=3783 New York – NexCen announced today that it may sell its Waverly and Bill Blass brands. Fri, 20 Jun 2008 13:16:00 MST http://www.hometextilestoday.com/article/CA6572024.html?nid=3783 Fort Worth, Texas – Pier 1 still “has a job to do” in convincing its shareholders and those of Cost Plus that combining the companies would be a sound transaction, Pier 1’s chief acknowledged during the company’s shareholder meeting this morning. Fri, 20 Jun 2008 13:16:00 MST http://www.hometextilestoday.com/article/CA6571471.html?nid=3783 Corte Madera, Calif. – The acquisition of specialty retailer Restoration Hardware (RH) by a group of investors including Catterton Partners and RH chairman, president and ceo Gary Friedman has been completed, in a $4.50 per common share buyout. Wed, 18 Jun 2008 14:15:00 MST http://www.hometextilestoday.com/article/CA6571156.html?nid=3783 Chicago – Delivering another billion dollars of bad news to construction companies and contractors, Wal-Mart Stores said it now projects capital expenditures this year to be $13.0-$14.0 billion, down from the original forecast of $13.5-$15.2 billion. Tue, 17 Jun 2008 14:35:00 MST http://www.hometextilestoday.com/article/CA6570231.html?nid=3783 Corte Madera, Calif. – Restoration Hardware cleared two hurdles in its quest to be acquired by Catterton Partners: shareholders approval of the merger plan and a tentative settlement of a litigation, under which it will pay about $3.7 million to non-insiders. Fri, 13 Jun 2008 11:00:00 MST http://www.hometextilestoday.com/article/CA6568480.html?nid=3783 Fort Worth, Texas – Struggling home furnishings specialty retailer Pier 1 Imports has proposed a stock-for-stock acquisition of another specialty chain seeking a turnaround, Cost Plus World Market. Mon, 09 Jun 2008 13:28:00 MST http://www.hometextilestoday.com/article/CA6568479.html?nid=3783 New York – Backing off an aggressive acquisition strategy, brand management firm Iconix Brand Group today revised its 2008 financial guidance, cutting revenue and earnings projections by about 14%. Mon, 09 Jun 2008 13:23:00 MST http://www.hometextilestoday.com/article/CA6568110.html?nid=3783 Clifton, N.J. – Linens ’n Things reported that the U.S. Bankruptcy Court in Delaware approved SB Capital and Tiger Capital as the liquidation team for the 120 stores LNT plans to shutter. Fri, 06 Jun 2008 13:18:00 MST http://www.hometextilestoday.com/article/CA6566676.html?nid=3783 Clifton, N.J. – Linens ’n Things announced yesterday that the U.S. Bankruptcy Court in Delaware has given final approval to $700 million in debtor-in-possession financing from GE Capital Corp. Tue, 03 Jun 2008 11:45:00 MST http://www.hometextilestoday.com/article/CA6566674.html?nid=3783 Corte Madera, Calif. – With the recent court challenge to the planned Restoration Hardware buyout agreement with Catterton Partners, the retailer’s management team has presented recommendations by two independent proxy advisors to support their plan. Tue, 03 Jun 2008 11:44:00 MST http://www.hometextilestoday.com/article/CA6565536.html?nid=3783 New York – Moving quickly to cut overhead and right its cash flow, NexCen Brands today announced its has pared headquarters staff, consolidated executive responsibilities and retained an investment bank to chart a financial strategy. Fri, 30 May 2008 13:13:00 MST http://www.hometextilestoday.com/article/CA6563809.html?nid=3783 Little Rock, Ark. – Dillard’s late yesterday reported that its first quarter net earnings dropped 94% to $2.7 million, or 4 cents per share. Fri, 23 May 2008 09:42:00 MST http://www.hometextilestoday.com/article/CA6563639.html?nid=3783 York, Pa. – Bon-Ton lowered its fiscal year guidance today after reporting a widened loss for the first quarter. Thu, 22 May 2008 15:11:00 MST http://www.hometextilestoday.com/article/CA6562753.html?nid=3783 San Diego – A group of Restoration Hardware shareholders opposed to the specialty retailer’s acquisition deal with Catterton Partners will get their hearing, as Marin County Superior Court judge Lynn O’Malley Taylor ordered a hearing be held June 11 to air their efforts to enjoin the proposed buyout. Tue, 20 May 2008 13:07:00 MST http://www.hometextilestoday.com/article/CA6562752.html?nid=3783 Atlanta – A $543 million charge sent Home Depot’s first-quarter net income plummeting by 66% to $356 million, or 21 cents per share. Tue, 20 May 2008 13:06:00 MST