Chain Store Age Executive Fax articles from August 2003

Chain Store Age Executive Fax archives from August 2003

New stores, new markets.(includes news from multiple retailers)(Brief Article)
August 1, 2003... Look for Bon Marche's new store in Redmond (Wash.) Town Center.... Furniture retailer Living Spaces will debut its format later this month in Rancho Cucamonga, Calif., at Foothill Marketplace in a former Price Costco location.... Stater Bros....

Lord & Taylor closing 32 stores, will focus efforts on Northeast.(Brief Article)
August 1, 2003... Hoping to reposition itself as an upscale fashion retailer, Lord & Taylor said this week it will exit certain markets and return to its roots in the Northeast. One of the nation's oldest department stores--founded in New York City in 1826--Lord...

Chico's sees fit with White House deal.(Chico's to acquire White House/Black Market)(Brief Article)
August 1, 2003... Impressed with the "development" and "proven store model" of the White House|Black Market concept, Chico's announced this week that it will buy the retailer, a move that will boost its store base by roughly 25%. One of the most successful...

Back-to-school outlook favorable.(Brief Article)
August 1, 2003... The back-to-school season should be a busy one for retailers, thanks to the child tax rebates and easier borrowing opportunities. Retailers are expected to see a 1% to 3% increase in comparable-store sales, according to research compiled by UBS...

Staples.(Michael Miles appointed COO)(Brief Article)
August 1, 2003... Staples named Michael Miles as its COO, a new position. He comes from Pizza Hut, where he served as COO....

Lowe.(names Marshall Croom senior vice president of finance)(Brief Article)
August 1, 2003... Lowe's promoted Marshall Croom to senior VP of finance. He joined the retailer in 1997 as assistant treasurer and most recently served as VP, treasurer....

ShopKo.(hires Michael Hatten)(Brief Article)
August 1, 2003... Michael Hatten was appointed director of loss prevention of ShopKo's name-brand division. He comes from Fred Meyer, where he held several loss-prevention jobs.

Home Depot will dunk more donuts.(retailer will offer Dunkin' Donuts shops inside stores in metro Atlanta area)(Brief Article)
August 1, 2003... Expanding a pilot program in which it introduced Dunkin' Donuts shops inside three stores in New England, The Home Depot said this week it will bring the concept to the metro Atlanta area. According to an article in the Atlanta...

Target, Wal-Mart battle for Chicago.(Brief Article)
August 1, 2003... Target hopes to add five stores within Chicago city limits over the next couple of years. The discount chain is already building one store at the Addison Mall, a site formerly occupied by Montgomery Ward, according to the Chicago SunTimes....

Bon-Ton makes bid for Elder-Beerman.(Brief Article)
August 1, 2003... A new suitor has shown its face in the bidding war for Elder-Beerman: Bon-Ton Stores has offered to acquire the chain for $7 per share. A premium of roughly 16% over Elder-Beerman's current stock price, the offer is equal to roughly $79...

Pep Boys closing 33 stores, cutting jobs.(Brief Article)
August 1, 2003... In his first major move since being appointed chief executive in May, Lawrence Stevenson announced this week that Pep Boys will close 33 stores, 5% of its store base, as part of an effort to streamline the company. The largest number of...

Couche-Tard continues U.S. growth.(Canadian convenience store chain acquires stores from Clark Retail Enterprises Inc.)(Brief Article)
August 1, 2003... Couche-Tard, Inc. is buying more convenience store chains in the United States. The retailer plans to acquire 43 convenience stores owned by Clark Retail Enterprises, Inc., which filed for bankruptcy last year. The $24.5 million deal will...

This week's retail news nuggets.(includes multiple news briefs)(Brief Article)
August 1, 2003... King Soopers, a division of Kroger, is testing a dollar-store format at six locations in Colorado.... Bonus Stores, Inc. filed for bankruptcy last week. It operates 335 stores under the Bill's Dollar Stores and Bonus Dollar Stores nameplates....

New stores, new markets.(includes multiple new store openings)(Brief Article)
August 8, 2003... This October, Kohl's will open 13 stores in Arizona in the Phoenix, Tucson and Flagstaff markets.... Swatch opened its fifth store in New York City in Times Square.... Ikea recently opened in Paramus, N.J.... Babies "R" Us signed a lease to...

Heat wave boosts July results, department stores fare well.
August 8, 2003... It wasn't exactly a summer wind that came blowing in, but the 12th-warmest July on record over the past 109 years did help to boost sales. Retailers reported a 4.3% increase in comparable-store sales in July, marking the strongest monthly rise...

CEOs of Lands' End, Penn traffic quit.(David Dyer, Joseph Fisher announce resignations from Lands' End Inc., Penn Traffic Co., respectively)(Brief Article)
August 8, 2003... David Dyer resigned as CEO of Lands' End to take over the roles of president and CEO of Tommy Hilfiger. He had served as CEO of Lands' End since 1998. Dyer replaces Joel Horowitz, who will continue to serve as chairman of Hilfiger. Dyer had...

Quality over price for Federated CEO.(Federated Department Stores Inc. CEO Terry Lundgren)(Brief Article)
August 8, 2003... Looking to avoid the price war in an over-saturated discount market, Terry Lundgren, CEO of Federated Department Stores, Inc., will emphasize quality over price. Lundgren is increasing the amount of inventory of its private-label brands and...

Study shows business goes off the mall.(Brief Article)
August 8, 2003... America's malls are not dead, but they are experiencing a long, slow demise, according to Craig Johnson, president of retail and consumer sector consulting firm Customer Growth Partners (CGP). Since 1995, mall sales slipped from 38% to 19% of...

Supermarkets continue to expand RX biz.(Brief Article)
August 8, 2003... Supermarket pharmacies experienced the fastest retail-pharmacy growth rate in 2002, according to a new Food Marketing Institute (FMI) study. The segment grew 3% last year for a total of 9,537, roughly 18% of the overall retail pharmacy market....

Web sales to rise to $230 billion by 2008.(Brief Article)
August 8, 2003... Sales of sporting goods, food and beverage, and home goods over the Internet will outpace the more traditional on-line categories of books and travel over the next five years. In addition, 5 million new U.S. households will begin shopping via...

This week's retail news nuggets.(includes news from Costco, Fresh Brands, Sports Authority, and others)(Brief Article)
August 8, 2003... Costco reduced its fourth-quarter earnings forecast after rising healthcare costs in California and an increase in meat prices.... Fresh Brands, operator of Piggly Wiggly and Dick's Supermarkets, is negotiating to buy 23 Kohl's Food Stores...

New stores, new markets.(Brief Article)
August 15, 2003... Best Jeweler leased space in the Manoa Shopping Center in Haverton, Pa.... Piggly Wiggly recently opened in Sheboygan, Wis. The store features the company's first Pig Stop fuel/convenience store.... Expo Design Center will take over a former...

Retailers report 2Q finances, May, federated see earnings dip.
August 15, 2003... Surprising results at Wal-Mart's international division and Sam's Club format helped offset financial gains that were "below expectations" at the retailer's namebrand discount and supercenter formats. The Wal-Mart Stores division posted sales...

Pacific Sunwear expands D.E.M.O. plans.(predicting a total of 400 d.e.m.o. stores by the end of fiscal 2007)(Brief Article)
August 15, 2003... Hoping to capitalize on strong sales results, Pacific Sunwear raised its outlook for the potential number of d.e.m.o. stores. By the end of fiscal 2007, Pacific Sunwear is predicting a total of 400 d.e.m.o. stores, up from a previous target of...

Spartan Stores, Inc.(gave its Craig Sturken, chief executive and president, the added title of chairman)(Brief Article)
August 15, 2003... Spartan Stores, Inc. gave its chief executive and president, Craig Sturken, the added title of chairman....

Urban Outfitters.(Steve Feldman resigned as CFO)(Brief Article)
August 15, 2003... Steve Feldman resigned as CFO of Urban Outfitters. The company has yet to find a replacement....

J. Crew Group.(Scott Rosen resigned as CFO)(Brief Article)
August 15, 2003... Scott Rosen resigned as CFO of J. Crew Group. Nicholas Lambertie, J. Crew's corporate controller, will take over Rosen's duties until a permanent replacement can be found....

Wal-Mart.(appointed John Opie to its board)(Brief Article)
August 15, 2003... Wal-Mart appointed former General Electric executive John Opie to its board. Opie retired from General Electric in May 2000, having served with the company for 39 years, including stints as president and chief executive of GE Lighting and vice...

The Spiegel Group.(promoted Richard Mozack to VP, CIO)(Brief Article)
August 15, 2003... The Spiegel Group promoted Richard Mozack to VP, CIO. He replaces David Kardesh, who had resigned....

Zale.(elected Betsy Burton to its board of directors)(Brief Article)
August 15, 2003... Zale elected Betsy Burton, CEO and founder of retail advisory and consulting company BB Capital, to its board of directors. She also is a former CEO of Supercuts....

The Dress Barn.(appointed Joseph Forbidussi as VP, merchandise manager of sportswear)(Brief Article)
August 15, 2003... The Dress Barn hired Joseph Forbidussi as VP, merchandise manager of sportswear. He most recently was with Saks, Inc.'s Carson Pirie Scott division where he was a divisional merchandise manager for dresses, suits and outerwear....

Marks & Spencer.(appointed Justin King to oversee the operations of Kings Super Markets)(Brief Article)
August 15, 2003... After failing to sell the unit, Marks & Spencer appointed its director of food, Justin King, to oversee the operations of Kings Super Markets, its U.S.-based grocery chain. King will work alongside the existing management team at Kings.

Supervalu to buy parts of Fleming.(Brief Article)
August 15, 2003... SuperValu has reached a deal to buy select assets of Fleming from C&S Wholesale, following C&S' expected purchase of the bankrupt food wholesaler. The plan calls for SuperValu to buy Fleming's operations in La Crosse and Milwaukee, Wis., and...

Circuit City sells credit card division.(Brief Article)
August 15, 2003... Saying goodbye to the "large cyclical profit swings" of its bankcard business, Circuit City said this week it will sell the bankcard portion of its finance operation. The chain will hold on to its private-label and co-branded credit business....

Banana Republic, Eddie Bauer add lines.(Brief Article)
August 15, 2003... Banana Republic will begin selling women's petite clothing at four of its flagship stores next week. The lines had previously only been available on the retailer's Web site. Banana Republic stores in New York City (Rockefeller Center), San...

This week's retail news nuggets.(various news items)(Brief Article)
August 15, 2003... Meijer, which operates 130 stores, reached a tentative deal with the United Food and Commercial Workers (UFCW) union during contract talks, according to the Detroit News. UFCW members have until Sept. 2 to ratify the four-and-a-half year...

New stores, new markets.(new store openings)(Brief Article)
August 22, 2003... Look for new West Marine Express stores in Vero Beach and Madeira Beach, Fla. The company also is adding a Boat U.S. store in Weymouth, Mass.... KB Toys opened at Indian River Shopping Center in Virginia Beach, Va.... Belk plans to open next...

Sales on track despite blackout, back-to-school outlook good.(retail sales)(Brief Article)
August 22, 2003... The blackout didn't turn into a dark week for retail sales as retailers saw only a "minimal" impact on their register tallies. Sure, retail sales were down 0.5% for the week ended Aug. 16, compared with the prior week, but most of the lost...

Sears rethinks great indoors format.(Brief Article)
August 22, 2003... What was once touted to be a great opportunity for Sears may now wind up being a relic of the past. A report in Crain's Chicago Business this week said Sears will review the operations of its The Great Indoors concept with a view to...

Retro Nike gear on tap at Foot Locker.(Brief Article)
August 22, 2003... Having put their prior disagreements behind them, Foot Locker and Nike announced they are working together on creating a new line of sneakers that will be available by Christmas. The new collection will include retro looks dating back to 1984...

Best Buy begins selling music on line.(Brief Article)
August 22, 2003... Looking to catch up to the on-line music sales units of Apple and Buy.com, Best Buy began selling subscriptions to its own digital music service this week. The retailer's Rhapsody business, which was launched in 2001, offers songs from more...

Wet Seal.(appointed Victor Alfaro senior VP, creative director and Allan Haims president of its name-brand division)(Brief Article)
August 22, 2003... Wet Seal named Victor Alfaro senior VP, creative director and Allan Haims president of its name-brand division. Haims, a former Disney Store executive, replaces Susan O'Toole, who was named chief merchandising officer of Wet Seal....

Longs Drug Stores.(CEO and president Warren Bryant given added title of chairman of the board)(Brief Article)
August 22, 2003... Warren Bryant, CEO and president of Longs Drug Stores, was given the added title of chairman of the board. He replaces Robert Long, who was named chairman emeritus....

Musicland.(appointed Eric Weisman its new CEO)(Brief Article)
August 22, 2003... Musicland named Eric Weisman as its new CEO. He most recently served as head of an entertainment-product distribution company, of which Musicland is a customer.

Brown Shoe keen on Famous Footwear.(to invest heavily in division)(Brief Article)
August 22, 2003... Brown Shoe intends to invest heavily in its Famous Footwear division. On a conference call this week, CEO Ronald Fromm said store renovations and marketing will increase at Famous Footwear. In the past year and a half, 400 stores have been...

Pie in the Atlanta sky for publix.(Brief Article)
August 22, 2003... Publix Super Markets acquired a 115,000-sq.-ft. pie plant in Atlanta from Country Home Bakers. The grocer expects to start operations at the plant in December, with full production beginning in 2004. Publix, which also operates a bakery...

Safeway files suit against Yucaipa.(Brief Article)
August 22, 2003... Safeway filed a counter suit this week against investment firm Yucaipa Cos., which had been looking to buy its Chicago-based Dominick's chain. Earlier this month, Yucaipa filed a lawsuit against Safeway, alleging that it tried to prevent the...

Bonus Stores begins some closing sales.(Brief Article)
August 22, 2003... Bonus Stores, Inc. began store-closing sales at roughly two-thirds of its 335 locations this week, roughly one month after the discounter filed for bankruptcy protection. The retailer, which operates under the Bill's Dollar Stores and Bonus...

Jobless claims continue to decrease.(Brief Article)
August 22, 2003... Continuing to signal an improvement in the job market, the Labor Department reported that 17,000 fewer workers filed claims for jobless benefits last week, lowering the total to 386,000 new claims. That marks the smallest number of laid-off...

This week's retail news nuggets.(Borders Group acquires Hawley-Cooke Booksellers, other news items)(Brief Article)
August 22, 2003... Borders Group, Inc. acquired Hawley-Cooke Booksellers, which operates two stores in Louisville, Ky. The stores will be converted to the Borders banner by early September. In addition, Borders says it will open two additional bookstores in the...

New stores, new markets.(various retailers)(Brief Article)
August 29, 2003... Cub Foods will open four new stores in the Twin Cities area by early 2004. The grocer is adding locations in Shorewood, Savage, Lakeville and Arden Hills, Minn.... Borders is building a store at El Paseo Simi shopping center in Simi Valley,...

Cross-pollination continues as FAO, Borders form partnership.(Brief Article)
August 29, 2003... Continuing the format pairings that seem to be commonplace among retailers today, FAO, Inc. and Borders Group formed a partnership this week in a move that will see each retailer sell the other's merchandise in its stores. The first initiative...

Walgreens acquires 16 stores out West.(Hi-School Pharmacy stores)(Brief Article)
August 29, 2003... Acquisitions are a rarity for Walgreens, but that didn't stop the chain from spending an undisclosed sum to acquire 16 Hi-School Pharmacy stores or pharmacy files in the Portland, Ore.-Vancouver, Wash., metro area this week. The retailer will...

Sears to close four 'indoors' stores.(Brief Article)
August 29, 2003... While The Great Indoors continues to be "a viable, important format" that holds "great promise," Sears is reducing the division's store count. Sears will close three Great Indoors locations altogether and convert a fourth site to an outlet...

Dollar General.(People In The News)(named Lawrence Jackson president and COO)(Brief Article)
August 29, 2003... Lawrence Jackson was named president and COO of Dollar General, effective Sept. 22. He most recently was senior VP of supply operations of Safeway, Inc....

Dick's Supermarkets, a division of Fresh Brands, Inc., named Richard Taggart CEO and president.(People In The News)(Brief Article)
August 29, 2003... Dick's Supermarkets, a division of Fresh Brands, Inc., named Richard Taggart CEO and president. He replaces Robert Brodbeck, son of the founders, who resigned earlier this year. Taggart joined Dick's in 1985 as controller....

Odd Job Stores.(People In The News)(promoted Keith Favreau to CFO)(Brief Article)
August 29, 2003... Odd Job Stores promoted Keith Favreau to CFO. He has served as VP of finance since 1999....

Federated Department Stores, Inc.(People In The News)(appointed Bradley Mays VP of tax)(Brief Article)
August 29, 2003... Federated Department Stores, Inc. appointed Bradley Mays VP of tax, replacing Neal Glueck, who resigned earlier this year. Mays most recently served in a similar position for Saks, Inc....

Fleming.(People In The News)(Peter Willmott completes tenure as interim CEO and president)(Brief Article)
August 29, 2003... Peter Willmott has completed his tenure as Fleming's interim CEO and president. He will continue to serve as a director. Archie Dykes, chairman of the board, has assumed the duties of CEO.

Lawsuit is filed against Musicland.(Brief Article)
August 29, 2003... A lawsuit filed in Tampa, Fla., alleges that Musicland, the former Best Buy Co. division, misled consumers about the terms of an offer to receive Entertainment Weekly by not mentioning that a subscription charge would follow if they did not...

Chain store sales rise in latest tally.(Brief Article)
August 29, 2003... Signs of retail spending recovery can be seen in the sales numbers for the latest weekly scorecard. Retail sales rose 0.2% in the week ended Aug. 23, compared with the previous week. That compares with a 0.5% decline in the prior week, due in...

Seams found in cross-channel shopping.(Brief Article)
August 29, 2003... Retailers have no trouble taking orders from both their physical stores and Internet sites, but some chains do not have compatible procedures for the returns process. A recent study by the e-tailing group discovered that 44% of mystery shoppers...

Publix pulls plug on PublixDirect.(Publix Super Markets Inc.)(Brief Article)
August 29, 2003... Having failed to meet its expectations, Publix Super Markets will close its on-line grocery shopping service, PublixDirect, after two years of testing. The 768-store grocery chain pointed to low demand as a reason for the decision. The move...

This week's retail news nuggets.(includes multiple news briefs)(Brief Article)
August 29, 2003... Burdines, a division of Federated Department Stores, will no longer lease space to jewelry seller Finlay Enterprises at 46 of its department stores, effective Jan. 31. Finlay generated about $50 million from the stores inside Burdines in fiscal...