Chain Store Age Executive Fax articles from August 2001

Chain Store Age Executive Fax archives from August 2001

NEW STORES, NEW MARKETS.(Brief Article)
August 17, 2001... J.C. Penney opened at the Deptford (N.J.) Mall.... The Vitamin Shoppe opened in Duluth and Buckhead, Ga. It is also looking to develop a presence in the Carolinas and Tennessee.... Jewel-Osco added a store in Chicago.... Petco opened in...

BEST BUY ACQUIRING FUTURE SHOP, BUT S&P DOWNGRADES OUTLOOK.(Brief Article)
August 17, 2001... It seemed like a logical move for Best Buy, and it very well may turn out to be. Why spend millions to slowly build a store base in Canada--as was announced last year--when you can just buy your way into the country? A few hours after Best...

AMES EMBARKS ON STORE-CLOSING SPREE.(Ames Department Stores Inc.)(Brief Article)(Statistical Data Included)
August 17, 2001... Setting out on its second wave of store closings in nine months, Ames says it will close 47 stores in 10 states in an effort to become profitable. Last November, the retailer shuttered 32 stores, the majority of which were gained in 1998 as...

RIGHT START ACQUIRING ZANY BRAINY.(Brief Article)
August 17, 2001... Having failed to absorb and recover from its acquisition of Noodle Kidoodle early last year, Zany Brainy itself is now being acquired by The Right Start. Zany Brainy filed for bankruptcy protection two months ago and said in July that it was...

PEOPLE IN THE NEWS.(includes multiple appointments)(Brief Article)
August 17, 2001... Leonard Mogil was elected to Charlotte Russe's board of directors, increasing the size of the board to six members.... Victoria's Secret Direct, a division of Intimate Brands, named Ann Acierno executive VP, general merchandise manager,...

FRY'S PURCHASING EGGHEAD.COM ASSETS.(Egghhead.com files for bankruptcy)(Brief Article)
August 17, 2001... The egg is now fried. To be more specific, Egghead.com has filed for bankruptcy and is selling its assets to Fry's Electronics, an 18-store chain based in San Jose, Calif. Egghead.com also fired 185 employees, 59% of its work force. The...

ORCHID: GADZOOKS' LATEST FORMAT.(five new stores to open under Orchid format)(Brief Article)
August 17, 2001... Looking to cater to an audience it feels is not being addressed, Gadzooks will open five stores under a new format titled Orchid in malls in Texas and Louisiana by November. The new concept will sell branded and private-label intimate wear,...

KRAUSE'S FURNITURE CLOSING 25 STORES.(including 3 Castro Furniture shops)(Brief Article)
August 17, 2001... Twenty-two Krause's Furniture stores and three Castro Furniture shops began store-closing sales this week. The retailer is selling roughly $9.5 million worth of merchandise at a minimum of 25% off. The Krause's stores are located in Texas...

BlueLight.com.(will reduce staff further)(Brief Article)
August 17, 2001... A skeleton crew of roughly 50 to 60 workers is holding down the fort at BlueLight.com. The Kmart division plans to further reduce its staff over the next month. and a half.

Whole Foods Market.(to acquire Harry's Farmers Market Inc.)(Brief Article)
August 17, 2001... Whole Foods Market is spending $35 million to acquire Harry's Farmers Market, a three-store chain in the Atlanta area. Six small-format Harry's in a Hurry food stores were not included in the deal.

Belk.(will cash tax-rebate checks for customers for free)(Brief Article)
August 17, 2001... Belk will cash tax-rebate checks for free for all consumers. Shoppers who convert some or all of the funds to the chain's gift card will get a 10% bonus.

Wal-Mart.(not likely to meet double-digit earnings growth in second half)(Brief Article)
August 17, 2001... Customers who cashed their tax rebate at Wal-Mart went on to spend roughly 25% of the proceeds before leaving the store, according to preliminary results. In other company news, the chain says it most likely will not meet its goal of...

Nordstrom.(gift card for teenagers)(Brief Article)
August 17, 2001... Nordstrom's has developed a gift card for its teen-age customers.

Fleming.(Furrs Supermarkets to close stores in New Mexico and Texas)(Brief Article)
August 17, 2001... Fleming opted not to acquire four additional Furrs Supermarkets shops in New Mexico and Texas. Unable to find a buyer, Furrs says it will close the stores.

CSK Auto.(to close 36 stores)(Brief Article)
August 17, 2001... CSK Auto is closing 36 stores and eliminating 120 positions as part of a plan to boost its balance sheet.

Saks.(to close Younkers store in Appleton, Wisconsin)(Brief Article)
August 17, 2001... Saks is closing its freestanding Younkers store in Appleton, Wis., in January 2002, when the lease expires, affecting 100 employees.

Cosmetics Plus.(files for bankruptcy)(Brief Article)
August 17, 2001... Cosmetics Plus filed for bankruptcy and is looking to sell its name, leases and other assets. The company operates 22 stores in the New York area.

NEW STORES, NEW MARKETS.
August 10, 2001... Later this year, Borders will add stores in Colorado Springs, Colo.; King of Prussia, Pa.; Sunnyvale, Calif.; and Miami. Cato is opening next week in Bridgeton and Moberly, Mo. One week later it will add shops in Conroe, Texas, and...

RETAILERS (FINALLY) MEET GOAL, DRUG CHAINS FUEL 3.4% JULY GAIN.(Brief Article)(Statistical Data Included)
August 10, 2001... Discount chains and drug store retailers prevailed once again. As has been the case all year, department stores and apparel chains reported declines in comparable-store sales. Consumer-electronics chains also took a hit in July Altogether,...

PEOPLE IN THE NEWS.(employee changes, various companies)(Brief Article)
August 10, 2001... Albertson's has appointed Felicia Thornton executive VP, CFO, replacing Craig Olson who resigned in May. The grocer also appointed Jim Willyard corporate VP of marketing, drug and general merchandise. Charles Pfister was named VP of...

FEDERATED MOVES LABEL NAMES OVERSEAS.(Brief Article)
August 10, 2001... Are the recent signings this week by Federated to sell same of its private-label merchandise in international department stores just the beginning of foreign growth? It very well may be, especially considering that the retailer acquired...

GAP CUTS BACK WORK FORCE ONCE MORE.(Brief Article)(Statistical Data Included)
August 10, 2001... Pink slips were ubiquitous at Gap once again. The apparel retailer is eliminating an additional 790 positions across the company. The decision comes just one month after Gap cut 10% of its work force, or 1,300 employees, in an effort to cut...

THIS WEEK'S RETAIL NEWS NUGGETS.(industry briefs)(Brief Article)
August 10, 2001... Saks says its second-quarter losses will be larger than anticipated. Big V Supermarkets will close its ShopRite store in Wilkes-Barre, Pa., by mid-September. Meanwhile, Big V is rumored to be poised for acquisition by Pathmark Stares or...

NEW STORES, NEW MARKETS.(new retail stores)(Brief Article)
August 3, 2001... Macy's will set up shop at Capitola (Calif.) Mall next May.... Lowe's bought land to open in Lake Worth, Texas.... Modell's and National Wholesale Liquidators will open at Hechinger Mall in Bethesda, Md.... Borders will open later this...

ECKERD SETTLES MEDICAID LAWSUIT, WILL PAY $1.7M FOR OVERBILLING.(Brief Article)
August 3, 2001... Louis Mueller is a name that both Walgreens and Eckerd know well. However, their familiarity with the pharmacist is not the result of his actions behind the counter, but rather, his whistleblower lawsuits that allege each drug chain defrauded...

DECLINE IN SPENDING FOR BACK-TO-SCHOOL.(Brief Article)
August 3, 2001... Americans will spend $457 per household this year on back-to-school items, according to a survey conducted for the National Retail Federation by Market Facts. That marks a 16% drop from the $549 spent in 2000. What's more, it seems "one-stop...

DAIRY MART USHERS IN NEW MANAGEMENT.(Robert Stein resigns)(Brief Article)
August 3, 2001... Robert Stein stepped down as chairman, president and CEO of Dairy Mart Convenience Stores this week after DM Acquisition Corp., a company he controls, was unable to secure financing to purchase the chain. Gregory Landry, most recently vice...

PEOPLE IN THE NEWS.(appointments and selections in retail)(Brief Article)
August 3, 2001... Factory 2-U Stores appointed Mary Kwan executive VP of merchandising and marketing, and Tracy Parks executive VP, COO. Kwan replaces Mary McNabb, who retires on Aug. 24.... Michaels Stores named Charles Wyly chairman. He replaces Sam Wyly,...

OFFICE DEPOT TESTING NEW STORE FORMAT.(Brief Article)
August 3, 2001... A new store prototype from Office Depot will debut tomorrow in Palm Beach Gardens, Fla., and Englewood, Cob. The new shops feature a circular flow of traffic that allows consumers to view and access time entire store layout from one location....

FEDERATED RAMPS UP DEBIT OFFERINGS.(Federated Department Stores)(Brief Article)
August 3, 2001... Lower transaction fees will be just one of the benefits of Federated Department Stores' decision to offer on-line debit, also known as PIN-based debit, at all 450 store locations. The chain will roll out debit-ready iPOS 3100 transaction...

ALBERTSON'S: ENERGY'S NEW BEST FRIEND.(energy conservation program)(Brief Article)
August 3, 2001... Albertson's will expand its energy conservation program to all of the chain's 2,500-plus grocery and drug stores. The chain intends to cut its annual energy consumption by 10%. Among the strategies are adjusting thermostats to 75 degrees in...

ShopKo.(cashes tax rebate checks)(Brief Article)
August 3, 2001... ShopKo will cash tax rebate checks for its customers and hand out coupons for 10% off a future purchase redeemable through Oct. 13.

CVS.(sued by disabled persons)(Brief Article)
August 3, 2001... CVS was sued by three disabled Washington, D.C., residents and the Disability Rights Council of Greater Washington for allegedly violating the Americans With Disabilities Act.

Nordstrom Rack.(closes Maryland location)(Brief Article)
August 3, 2001... Nordstrom Rack will shutter its store at City Place, located in Silver Spring, Md., in January 2002.

Albertson's Food Center.(employee killed attempting to stop shoplifters)(Brief Article)
August 3, 2001... An employee at Albertson's Food Center in Tulsa, Okla., was killed this week after attempting to chase down suspected shoplifters.

Michaels.(expands board of directors)(Brief Article)
August 3, 2001... Michaels plans to expand its board to seven members.

GNC.(adds mall kiosks)(Brief Article)
August 3, 2001... GNC will add kiosks in 25 malls beginning in August.

Shaw.(Shaw's contract with United Food and Commercial Workers Union)(Brief Article)
August 3, 2001... Shaw's signed a three-year deal with Local 791 of the United Food and Commercial Workers Union, which represents roughly 20% of its employees.