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  • INDUSTRY NEWS

    • On April 22, 2014, it was reported, Tuesday Morning Corp. and former CEO Kathleen Mason have settled a discrimination lawsuit filed by Mason. In the suit, Mason alleged she was dismissed from her position by Tuesday Morning after disclosing she had breast cancer. The suit was filed in May 2013 and dismissed on April 17. Terms of the settlement were not disclosed. On April 22, 2014, it was reported, upscale home goods closeout retailer Tuesday Morning Corporation has named Melissa Phillips the company's new executive vice president and general merchandise manager, effective immediately. She reports to Michael Rouleau, ceo.
    • On April 22, 2014, it was reported, Troy Risch resigned his position EVP of store operations at RadioShack the company disclosed in a filing with the Securities and Exchange Commission. RadioShack had previously announced plans to close approximately 1,100 stores in its most extreme action to date as part of a turnaround strategy. The closure plan reportedly hit a snag last week when RadioShack lenders objected to the move. Disruption of the closure plan combined with the departure of the company's top operations executive this week caused shares of RadioSchack to sink to $1.34 on Tuesday, April 22, near the 52 week low set the prior week.
    • On April 21, 2014, it was reported, Monroe, Mich.-based La-Z-Boy Inc. will close two North Wilkesboro plants in a move that will mean the loss of jobs for 100 employees. The closure is part of the company's transition to solely import its wood furniture as well as plans to put its youth furniture business up for sale and stop production of furniture for hotels. La-Z-Boy will also discontinue casegoods production at the Hudson, N.C., plant during the second quarter of fiscal 2015. Warehouse and repair functions that took place in North Wilkesboro will shift to Hudson. By the end of this year, the company's two North Wilkesboro facilities, which combined are 520,000 square feet, will be marketed for sale along with wood-working equipment from the Hudson plant.
    • On April 21, 2014, it was reported, Art Van Furniture is acquiring the remaining stake in World of Floors, making Art Van World of Floors a wholly-owned brand of the Top 100 company. The retailer previously held a 50% stake in World of Floors and has agreed to buy the remaining 50% from Emil Pedick, according to a release. The purchase price was not disclosed. Art Van said it will be moving the World of Floors headquarters into its own Warren, Mich., headquarters soon. World of Floors was founded in Michigan by Pedick in 1997 and, at its peak, operated 27 locations. Today, there are 15 Art Van World of Floors departments within Art Van showrooms as well as two stand-alone locations in Shelby Township and Rochester Hills, Mich., said Diane Charles, Art Van's director of corporate communications.