Chain Store Age Executive Fax articles from April 2002

Chain Store Age Executive Fax archives from April 2002

New stores, new markets.(Brief Article)
April 26, 2002... Linens 'n Things, Raymour & Flanigan Furniture, Dick's Sporting Goods, Beat Buy, Borders and Pier 1 Imports have signed on as tenants of Waterford (Conn.) Commons Shopping Center. It will open in September 2003. Home/lifestyle retailer...

Sears adding new apparel label brand will bring 'class' to chain.(Brief Article)
April 26, 2002... Sears' new proprietary apparel brand will bring a touch of class to its soft lines business, according to one industry analyst. Titled Covington, the exclusive label will be available for men, women and children, a first for the company, and...

Fleming buys pair of food distributors.(Core-Mark International and Head Distributing)(Brief Article)(Statistical Data Included)
April 26, 2002... Further shifting its focus away from supermarket distribution, food wholesaler and retailer Fleming is acquiring two privately held convenience-store distributors. The company is spending $390 million (including the assumption of $110 million...

Blockbuster to test extended rentals.(promotions)(Brief Article)
April 26, 2002... Blockbuster will mimic a buffet lunch with its movie-rental services this summer: one price for all the movies you want to rent. The specialty chain will test two variations of the service in two markets, according to a report in this week's...

Casual Male. (This Week's Retail News Nuggets).(sells Work'n'Gear unit to Sandy Point)(Brief Article)
April 26, 2002... Casual Male sold its Work'n Gear division to Sandy Point for $10 million.

Elder-Beerman. (This Week's Retail News Nuggets).(cuts 105 positions)(Brief Article)(Statistical Data Included)
April 26, 2002... Elder-Beerman recently eliminated 105 positions, a move that will save it roughly $3.6 million annually.

The Wet Seal. (This Week's Retail News Nuggets).(increasing capital expenditures for year)(Brief Article)(Statistical Data Included)
April 26, 2002... The Wet Seal will increase its capital expenditures by 28.2% to $50 million for the fiscal year ending in February 2003.

Factory 2-U Stores. (This Week's Retail News Nuggets).(plans new distribution center)(Brief Article)
April 26, 2002... Factory 2-U Store will build a 600,000-sq.-ft. distribution center in San Diego to replace an older facility there.

Ethan Allen. (This Week's Retail News Nuggets).(plans new store openings for 2002 and 2003)(Brief Article)
April 26, 2002... Ethan Allen will open 10 to 12 stores this year and about the same number in 2003. It also will introduce its first furniture store for children in 2003.

Gateway reduced its stake in OfficeMax. (This Week's Retail News Nuggets).(Brief Article)(Statistical Data Included)
April 26, 2002... Gateway reduced its stake in OfficeMax to less than 5% after it sold roughly 786,000 common shares. It plans to sell an additional 3.5 million OfficeMax shares in private transactions.

Raley's. (People in the News).(Michael Teel resigns from president and chief executive officer posts, William Coyne appointed president)(Brief Article)
April 26, 2002... Michael Teel has stepped down as CEO and president of Raley's to pursue personal endeavors. Taking over as president will be William Coyne, who currently serves as COO and general counsel. Coyne joined Raley's in 1997 and has been serving as...

Eddie Bauer. (People in the News).(appoints Gary Yiatchos vice president of retail marketing)(Brief Article)
April 26, 2002... Eddie Bauer named Gary Yiatchos as VP of its retail marketing division. He comes from Federated Department Store., where he was senior VP of corporate marketing.

"M" is for the many things to buy her. (People in the News).(forecasts for Mother's Day Spending)(Brief Article)(Statistical Data Included)
April 26, 2002... American consumers plan to spend more on Mom this year for Mother's Day. A National Retail Federation survey says consumers plan to spend an average of $97 per household on gifts this year, up 36% from $62 per household in 2001. Specialty...

FBI warning: Malls may be targeted.(Federal Bureau of Investigation)(Brief Article)
April 26, 2002... The FBI issued a terrorism warning stating that some al-qaida operatives may be planning attacks against civilian targets, such as shopping centers, banks, supermarkets and other shops. No specific targets, time lines or other information...

Borders, Amazon expand relationship.(Brief Article)(Statistical Data Included)
April 26, 2002... Customers can now order merchandise on line at Amazon.com and pick up the order at a Borders store. Shoppers who elect to pick up the merchandise themselves, as opposed to having it delivered, will receive e-mail confirmation from Borders...

Smart & Final finds fiscal faux pas.(replaces financial management team at foodservice unit)(Brief Article)(Statistical Data Included)
April 26, 2002... Smart & Final replaced the financial management team at its foodservice subsidiary this week alter it discovered some accounting problems while restructuring the division. As a result, the bulk-goods chain says it will restate its past fiscal...

Two new 'Markets' for 'Neighborhood'.(Wal-Mart introducing Neighborhood Market in two new states)(Brief Article)
April 26, 2002... Wal-Mart will debut its Neighborhood Market concept in two new states this year. It will open two stores in Horn Lake, Term., located outside of Memphis, and one location in Center Point, Ala. The stores will open in late 2002, early 2003....

New stores, new markets.(Brief Article)
April 19, 2002... Crate & Barrel will open its second store in Manhattan, at the corner of Broadway and Houston. Bloomingdale's is also reportedly interested in opening a store in that area. Meanwhile, Bloomingdale's has begun construction on its three-floor...

Kmart 'loans' cause concern, some say action was necessary.(Brief Article)
April 19, 2002... "A company's not a bank," said Charles Elson, director of the Center for Corporate Governance at the University of Delaware. His comments came after Kmart disclosed this week that it gave more than $30 million in retention and relocation...

J.C. Penney will centralize checkouts.(Brief Article)
April 19, 2002... Following in the footsteps of Kohl's, Sears and Federated, J.C. Penney said this week it will spend $50 million to retrofit its 1,100 department stores with centralized checkouts. It has been testing centralized checkouts at 14 stores for the...

SuperValu names CEO as new chairman.(Jeff Noddle)(Brief Article)
April 19, 2002... Mike Wright will step down as chairman of SuperValu on May 30, at the supermarket retailer's annual meeting. He has served as a director of the company for 25 years and as chairman since October 1982. SuperValu chief executive and...

Wal-Mart. (People in the News).(Donald Soderquist to step down as director)(Brief Article)
April 19, 2002... Donald Soderquist will step down as a director of Wal-Mart in June. He joined the chain in April 1980 and later served as vice chairman and COO until August 2000....

Kmart. (People in the News).(Karen Austin)(Brief Article)
April 19, 2002... Kmart promoted Karen Austin to senior VP, CIO....

PETsMART. (People in the News).(board of directors)(Brief Article)
April 19, 2002... PETsMART elected Thomas O'Malley and Nancy Pedot to its board of directors....

Pier 1 Imports. (People in the News).(Cary Turner)(Brief Article)
April 19, 2002... Pier 1 Imports promoted Cary Turner to executive VP of finance, CFO....

SuperValu. (People in the News).(John Hooley)(Brief Article)
April 19, 2002... John Hooley was promoted to corporate executive VP, and president and COO of SuperValu's retail food companies....

Best Buy named Ryan Robinson VP of finance, treasurer. (People in the News).(for Musicland division)(Brief Article)
April 19, 2002... Best Buy named Ryan Robinson VP of finance, treasurer, and Jim Muehlbauer VP of finance for its Musicland division....

The Home Depot. (People in the News).(president Lynn Martineau resigns)
April 19, 2002... Lynn Martineau is stepping down as president of The Home Depot's new growth businesses....

Men's Wearhouse. (People in the News).(names Neill Davis VP, CFO, treasurer)(Brief Article)
April 19, 2002... Men's Wearhouse promoted Neill Davis to executive VP, CFO and treasurer....

Talbots. (People in the News).(appoints Peter Hamilton as board member)(Brief Article)
April 19, 2002... Talbots elected Peter Hamilton to its board, replacing Mark While, who retired.

Sears 1q earnings decline by 37.5%.(first quarter 2002)(Brief Article)(Statistical Data Included)
April 19, 2002... Sears' first-quarter earnings decreased 37.5% to $110 million, compared with earnings of $176 million in the prior-year period. The company says the results were impacted by accounting changes and a charge related to converting existing...

Marshall Field's closing vendor shops.(Ralph Lauren, Tommy Hilfiger departments)(Brief Article)
April 19, 2002... Marshall Field's is reportedly saying goodbye to some of its in-store vendor shops, according to a report this week in Crain's Chicago Business. The article says the Target Corp. division will no longer build new vendor shops for designers...

Limited, Shiseido create new concept.(concept store, aura science)
April 19, 2002... There's a new player in the specialty beauty store industry. Intimate Beauty Corp., a division of The Limited Inc., has teamed with cosmetics company Shiseido in a joint venture project to create "aura science." The first store opened last...

Gap's April sales will be worst ever.(Gap Inc.)(Brief Article)(Statistical Data Included)
April 19, 2002... After 23 consecutive months of same-store sales decreases, Gap Inc. says that April will not only continue that downward trend, but will record the worst results in company history. Gap estimated that April sales results would total roughly...

Tower Records is selling its 51 stores in Japan. (This Week's Retail News Nuggets).(to Nikko Principal Investments)(Brief Article)
April 19, 2002... Tower Records is selling its 51 stores in Japan, including its eight-story flagship in Tokyo, to Nikko Principal Investments Japan for $121.2 million. Nikko says it will retain the Tower Records banner and its management....

Stater Bros. will offer Krispy Kreme. (This Week's Retail News Nuggets).(supermarket chain adds donuts at more locations)(Brief Article)
April 19, 2002... Stater Bros. will offer Krispy Kreme donuts at 82 additional stores over the next four months....

Party City is spending an undisclosed sum to acquire 13 stores. (This Week's Retail News Nuggets).(from Paper Warehouse)(Brief Article)
April 19, 2002... Party City is spending an undisclosed sum to acquire 13 stores from Paper Warehouse in the Seattle area....

Eckerd plans to debut in Phoenix and Tucson, Ariz., later this year. (This Week's Retail News Nuggets).(Brief Article)
April 19, 2002... Eckerd plans to debut in Phoenix and Tucson, Ariz., later this year. It plans to open 60 stores in those markets by the end of 20....

Target will increase its square footage this year by roughly 12%. (This Week's Retail News Nuggets).(Brief Article)(Statistical Data Included)
April 19, 2002... Target will increase its square footage this year by roughly 12%. The growth will come from the addition of 95 new stores, including at least 30 Super Target stores....

Fleming is spending an undisclosed sum to acquire seven Super1Foods supermarkets. (This Week's Retail News Nuggets).(from Brookshire Grocery Co.)(Brief Article)
April 19, 2002... Fleming is spending an undisclosed sum to acquire seven Super1Foods supermarkets in the Dallas area from Brookshire Grocery Co.

New stores, new markets.(Brief Article)
April 12, 2002... Family Dollar opened 40 new stores in the four-week period ended April 6, including six locations in New York and three each in Arizona, Louisiana and Michigan. Coach will open this summer in Lexington Ky., at the Fayette Mall. Sears...

Early Easter inflates results, March comps increase by 6.4%.(comparable store sales)(Brief Article)(Illustration)(Statistical Data Included)
April 12, 2002... March was a mixed blessing for retailers. On one hand, comparable-store sales increased 6.4% across the industry for the month, according to the tally comprised by the Bank of Tokyo-Mitsubishi. However, the shift in Easter--which fell two...

Podany resigns as ShopKo stores CEO.(William Podany)(Brief Article)
April 12, 2002... William Podany resigned as CEO, president and a director of ShopKo. Jack Eugster will remain chairman. Director Jeffrey Girard was named interim chief executive. He also accepted the permanent position of vice chairman of finance and...

Edens & Avant. (People in the News).(names chief executive officer, Terry Brown)(Brief Article)
April 12, 2002... Edens & Avant named Terry Brown as its new CEO, replacing founder Joe Edens, who will remain chairman.

Winn-Dixie. (People in the News).(appoints Frank Lazaran executive vice president, chief operating officer)(Brief Article)
April 12, 2002... Winn-Dixie named Frank Lazaran executive VP, COO.

Brown Shoe. (People in the News).(appoints David Schwartz, Richard Schumacher)(Brief Article)
April 12, 2002... Brown Shoe appointed David Schwartz COO and Richard Schumacher VP, chief accounting officer.

May Department Stores. (People in the News).(names Timothy Logan VP, compensation and benefits)(Brief Article)
April 12, 2002... May Department Stores named Timothy Logan VP of compensation and benefits, effective April 24.

Ann Taylor. (People in the News).(names Laurie David senior vice president, human resources)(Brief Article)
April 12, 2002... Ann Taylor appointed Laurie David senior VP of human resources.

Charming Shoppes. (People in the News).(appoints Lorna Nagler to run Catherines Stores)(Brief Article)
April 12, 2002... Charming Shoppes named Lorna Nagler president of its Catherines Stores division.

Brylane. (People in the News).(appoints Michael Shannon chief operating officer)(Brief Article)
April 12, 2002... Catalog retailer Brylane named Michael Shannon COO, effective April 15.

Dollar General. (People in the News).(names James Robbins as board member)(Brief Article)
April 12, 2002... Dollar General elected James Robbins to its board.

Neiman Marcus. (People in the News).(appoints Carl Sewell as director)(Brief Article)
April 12, 2002... Neiman Marcus named Carl Sewell as a director.

Eddie Bauer. (People in the News).(appoints Engle Saez senior vice president and chief creative officer)(Brief Article)
April 12, 2002... Eddie Bauer appointed Engle Saez to the position of senior VP, chief creative officer.

Kmart. (People in the News).(names Michael Macik new VP of human resources)(Brief Article)
April 12, 2002... Kmart appointed Michael Macik executive VP of human resources.

The Wet Seal. (People in the News).(Susan Powers named vice president)(Brief Article)
April 12, 2002... The Wet Seal named Susan Powers as VP, director of stores for its name brand division.

May, Ann Taylor outline growth plans.(May Department Stores)(Brief Article)(Statistical Data Included)
April 12, 2002... May Department Stores will open 11 department stores and 30 David's Bridal stores this year. The growth is just a part of the retailer's plan to spend $4.1 billion on capital expenditures through 2006. Over the next couple of years, May will...

Monthly teen spending on the rise.(spending on apparel and accessories)(Brief Article)(Statistical Data Included)
April 12, 2002... It appears teen-agers just don't understand the word recession. A report by U.S. Bancorp Piper Jaffray analyst Jeff Klinefelter discovered that teen-agers are spending an average of $135 per month on apparel and related products, an increase...

Penske closing all Kmart locations.(Brief Article)
April 12, 2002... Kmart and Penske reached an agreement for an orderly wind-down of the latter company's 563 auto centers located adjacent to Kmart stores. The companies had been battling it out in courts early this week. Penske will pay Kmart $6 million under...

Kroger. (This Week's Retail News Nuggets).(stores acquisition)(Brief Article)
April 12, 2002... Kroger is purchasing 16 stores in the Houston area and one store in Sulphur, La., from Albertson's.

GE Card Services. (This Week's Retail News Nuggets).(Linens 'n Things launches credit-card)(Brief Article)
April 12, 2002... Linens 'n Things launched a private-label credit-card program through a deal with GE Card Services.

Shoe Carnival. (This Week's Retail News Nuggets).(Global Sports contracted to run website)(Brief Article)
April 12, 2002... Shoe Carnival enlisted Global Sports to develop and operate the shoecarnival.com Web site.

Heilig-Meyers. (This Week's Retail News Nuggets).(looks to sell facilities and stores)(Brief Article)
April 12, 2002... Heilig-Meyers is asking the bankruptcy court for permission to sell 19 stores and two warehouses.

Save-A-Lot. (New Stores, New Markets).(opens 1,000th store, Waterbury, CT)(Brief Article)
April 5, 2002... Save-A-Lot opened this week in Waterbury, Conn., its 1,000th store.

Coldwater Creek. (New Stores, New Markets).(building store in Carmel, CA)(Brief Article)
April 5, 2002... Cold water Creek began construction on a store at Carmel (Calif.) Plaza. It is expected to open in June.

Beat Buy. (New Stores, New Markets).(to open Fort Lauderdale store in the fall)(Brief Article)
April 5, 2002... Beat Buy will open in Fort Lauderdale, Fla., this fall.

West Marine. (New Stores, New Markets).(to open in Plymouth, MA)(Brief Article)
April 5, 2002... West Marine will open in Plymouth, Mass., on May 4.

Talbots. (New Stores, New Markets).(to open store at Merchants Square in Williamsburg, VA)(Brief Article)
April 5, 2002... Early next year, Talbots will open a two-story store at Merchants Square in Williamsburg, Va.

KB Toys. (New Stores, New Markets).(opens mall store in Westland, MI)(Brief Article)
April 5, 2002... KB Toys just opened at the Westland (Mich.) Mall.

Publix and Blockbuster. (New Stores, New Markets).(to be tenants at Punta Gorda Crossings in FL)(Brief Article)
April 5, 2002... Publix and Blockbuster signed on as tenants of Punt. Gorda (Fla.) Crossings, set to open in the first quarter of next year.

Jos. A. Bank Clothiers. (New Stores, New Markets).(opens mall store in Overland Park, KS)(Brief Article)
April 5, 2002... Joa. A. Bank clothiers opened at Oak Park Mall in Overland Park, Kan., its second store in the Kansas City area.

United Supermarkets. (New Stores, New Markets).(to open in Colleyville, TX)(Brief Article)
April 5, 2002... Look for United Supermarkets to open in Colleyville (Texas) Town Center.

Avenue and GNC. (New Stores, New Markets).(lease space at MBD/New Horizons Shopping Center, Bronx, NY)(Brief Article)
April 5, 2002... Apparel chain Avenue and GNC leased space at MBD/New Horizons Shopping Center in Bronx, N.Y.

Susie's Deals. (New Stores, New Markets).(to lease space at University Square in San Diego, CA)(Brief Article)
April 5, 2002... Susie's Deals has signed on to be a tenant at University Square in San Diego.

Pearle Vision. (New Stores, New Markets).(leases space at Downtown Short Pump in Richmond, VA)(Brief Article)
April 5, 2002... Pearle Vision leased space at Downtown Short Pump, Richmond, Va.

Borders. (New Stores, New Markets).(opens in McHenry, IL, and Aurora, CO)(Brief Article)
April 5, 2002... Borders opened in McHenry, Ill, and Aurora, Colo.

SuperValu buys 45-store chain, adding general merchandise.(Deals-Nothing Over a Dollar)(Brief Article)
April 5, 2002... In a move that mirrors what discount retailers Wal-Mart and Target have done by adding grocery items to their product mix, SuperValu has begun adding general merchandise at its value-priced Save-A-Lot supermarket chain. In addition, SuperValu...

Osco pulling out of Des Moines market.(closes 13 drug stores)(Brief Article)
April 5, 2002... Like father, like son. Or in this case, like parent company, like wholly owned division. Osco Drug is dosing its 13 stores in the Des Moines, Iowa, metro market. The move echoes that of its parent company, supermarket and drug store retailer...

Sam Goody got it: On Cue changing name.(On Cue stores to convert to Sam Goody)(Brief Article)
April 5, 2002... The recent success of a new Sam Goody format in rural markets has spurred Musicland Group to convert its On Cue division to the Sam Goody banner. The changeover will begin in June and be completed by the end of the summer. On Cue currently...

Musicland Group. (People in the News).(appointments)(Brief Article)
April 5, 2002... At Musicland Group: Tim Sheehan was appointed senior VP of stores; John Pershing was named VP of retail operations; Jon Estes was named VP of Sam Goody stores; and Kevin Krenos was named VP of Suncoast stores.

CVS. (People in the News).(appoints Helena Foulkes)(Brief Article)
April 5, 2002... CVS appointed Helena Foulkes senior VP of advertising and marketing.

Marks & Spencer may name executive as CEO. (People in the News).(Roger Holmes)(Brief Article)
April 5, 2002... Marks & Spencer is expected to appoint Roger Holmes as its new chief executive in the near future. Holmes would succeed Luc Vandevelde, who would stay on as chairman of the board. Vandevelde joined Marks & Spencer in February 2000 and was...

Wegmans uses video to promote EDLP policy. (People in the News).(Wegmans Food Markets, everyday low prices)(Brief Article)
April 5, 2002... You know you need to lower prices when your own employees shop at your competitor. Wegmans Food Markets mailed a five-minute videotape to 1 million of its best customers in an effort to promote its new everyday low prices. It says the lower...

Fingerhut cutting work force by half.(Brief Article)
April 5, 2002... Fingerhut let go of 3,300 employees this week, more than half of its work force. The on-line marketer and catalog operator of Federated Department Stores is also making further efforts to sell its assets. Roughly one month ago, Fingerhut...

Mothers Work boosting in-store shops.(at Marshall Field's)(Brief Article)
April 5, 2002... Mothers Work is expanding its relationship with department store chain Marshall Field's, a division of Target The specialty chain will open in-store shops within nine Marshall Field's locations in five states this spring. The expansion is the...