Katherine Schulte

1 week ago | virginiabusiness.com | Thomas Lester |Katherine Schulte

Furniture Today Top 100 retailer Schewels Home announced that it acquired Petersburg-based Butterworth’s Furniture, which has been in business since 1925. The Lynchburg-based retailer, which has 52 locations in Virginia and surrounding states, took over operations in early June. Terms of the deal were not disclosed. Officials say the acquisition is a major milestone for Schewels Home as it continues its strategic growth plan.

1 week ago | virginiabusiness.com | Katherine Schulte

Faced with rising tariffs and increasing global supply chain uncertainty, Henry County-based Bassett Furniture is taking a measured, solutions-focused approach to protect profitability and support its dealer network. Sitting down with Furniture Today, Bassett CEO Rob Spilman outlined how the company is navigating the current trade environment, breaking down the impact of tariffs and offering insight into the long-term strategies guiding its operations.

1 week ago | virginiabusiness.com | Katherine Schulte

General Dynamics Information Technology won a $396 million contract to support the U.S. Special Operations Command, the Falls Church federal contractor announced Friday. Awarded in April, the Information Technology Enterprise contract has a one-year base period and four option years. The subsidiary of Reston-based Fortune 100 aerospace and defense company General Dynamics will provide enterprise IT services to support Special Operations Forces’ missions worldwide.

2 weeks ago | virginiabusiness.com | Spencer Musick |Katherine Schulte

SUMMARY: Hooker aims to cut $25M in fixed costs by fiscal 2027 Phase 1 involved downsizing and other cuts for $10M in cost savings Phase 2 focuses on logistics, operational consolidation Company facing headwinds like soft consumer sentiment, weak housing market Martinsville-based Hooker Furnishings is moving ahead with a multi-phase restructuring plan aimed at cutting $25 million in annual fixed costs by fiscal 2027, roughly 25% of its baseline, company executives revealed in an earnings call...

3 weeks ago | virginiabusiness.com | Katherine Schulte

SUMMARY:Jennifer Schofield succeeded Bridgette Bywater as head of Kings Dominion on May 31. Former Kings Dominion owner Cedar Fair merged with Six Flags in $8B deal in 2024Leadership change followed Six Flags’ restructuring announcement; plan included more than 10% full-time workforce reductionKings Dominion has a new head amid a wave of layoffs by parent company Six Flags Entertainment.