Word: kb
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...switchbacks. The two-story foyer is becoming less and less popular too - in an era of tighter purse strings, who wants to heat and cool all that empty space? "Would you rather have the extra volume or a game room upstairs?" asks Ken Gancarczyk, a senior vice president at KB Home who runs the Los Angeles-based builder's architecture group. Buyers, KB is finding, want the room...
...used to. With the kids off to college, "they're not buying a five-bedroom home in the suburbs anymore," says Steve Melman, director of economic services at the National Association of Home Builders. What they do increasingly want: compact, one-story homes that are easier to get around. KB is offering twice as many single-story layouts as it was a year...
...Although the toy industry isn't sinking as much as other businesses, it's not exactly fun these days. The company's U.S. sales were essentially flat in 2008. KB Toys, a tough competitor, was liquidated. Bottom line: all retailers need some kind of response. "It's nice to see someone try something besides cutting prices," says Sean McGowan, a retail analyst at Needham...
...might seem risky to open a new, untested store at a time when U.S. toy retailers are suffering (KB Toys, the second largest U.S. toy chain behind Toys "R" Us, filed for bankruptcy in December). But Mattel is opportunistically positioning itself to thrive, not merely survive, in a tough environment. Today, two-thirds of Barbie sales come from 150 foreign markets; international sales increased 12% in 2007, even as U.S. sales sagged by 15%. "What we're doing in Shanghai is an indication for the future of the Barbie brand," Dickson says. Mattel is already planning similar stores in Brazil...
...economy has spiraled down over the last few months, firms have executed a laundry list of liquidations. The Mervyn's department store chain, Levitz furniture outlet, Steve & Barry's apparel stores, Whitehall Jewelers and Linens n' Things have all shut down. KB Toys, the second largest toy retailer behind Toys R' Us, and Boot Town, a Western clothes outfitter, are running liquidations now, along with Circuit City. Look for more to come. Schaye says Hudson Capital's revenues increased tenfold in 2008. According to Erickson, the Great American Group saw a 300% revenue jump in 2008. He predicts similar growth...