Chain Store Age Executive Fax articles from December 2002

Chain Store Age Executive Fax archives from December 2002

While Black Friday sales surge, overall November comps fall.
December 6, 2002... If only every clay could be as prosperous as Black Friday. Retailers were singing praises this past Monday for the sales they rang up during the Thanksgiving weekend. As busy as stores were, though, it was too little too late. The days leading...

New stores, new markets.(Sport Chalet)(Aura Science)(Smith & Hawken)(Brief Article)
December 6, 2002... Sport Chalet recently opened in Las Vegas in the community of Summerlin and in Riverside, Calif. Aura Science, the beauty concept from Limited Brands and Shiseido, opens next week at the Town Center in Boca Raton, Fla. Saks Fifth...

Joseph Ukrop dies.(Brief Article)
December 6, 2002... Joseph Ukrop, founder and chairman emeritus of the supermarket chain that bears his name, died last week. A former meat manager in an A&P store, Ukrop opened his first store in 1937. Today, Ukrop's operates 27 stores in Richmond, Fredericksburg...

Steve Furner was appointed interim CEO of Odd Job. (People in the News).(Brief Article)
December 6, 2002... Steve Furner was appointed interim CEO of Odd Job, replacing Peter Hayes, who resigned earlier this year. Furner has been a director of Odd Job since June and is the former president and COO of Wal-Mart Argentina.

Ron Staffieri. (People in the News).(president of Michaels)(Brief Article)
December 6, 2002... Ron Staffieri will begin his tenure as president of Michaels at the beginning of the new year. He comes from Waldenbooks, where he served as president. Staffieri has bean employed with Things Remembered and KB Toys.

Neiman Marcus Stores. (People in the News).(Karen Katz CEO and president)(Brief Article)
December 6, 2002... Karen Katz was appointed CEO and president of Neiman Marcus Stores. A 17-year veteran of the company, she most recently served as CEO and president of Neiman Marcus Direct.

Retail therapy from Nordstrom.(opening spa at The Shops at North Bridge in Chicago spring 2003)(Brief Article)
December 6, 2002... Nordstrom will open its first freestanding clay spa at The Shops at North Bridge in Chicago next spring. The 3,500-sq.-ft. spa will be located near the third-floor entrance of its Store on Michigan Avenue. The luxury retailer opened its first...

Home depot expanding diy at the pos.(installing self-checkout registers)(Brief Article)
December 6, 2002... Do-it-yourself consumers will soon be doing a lot more on their own at Home Depot. The home-improvement chain announced this week that it will install self-checkout registers in about half of its store base by the end of 2003. It has been...

A&P changing store name to food basics.(converting about 120 stores to Food Basics )
December 6, 2002... A&P will convert roughly 120 of its supermarkets to the Food Basics banner within the next 18 months. The news was revealed in an interview with A&P chairman and CEO Christian Haub in a German supermarket-industry publication. Supermarket News...

Kings super markets sale fails--again.(no sale to D'Agostino's)
December 6, 2002... Gristede's is back in the running to acquire Kings Super Markets. That's because D'Agostino's planned $160 million acquisition of the Marks & Spencer division collapsed after it was unable to secure the financing it needed to buy Kings. This...

Bear Stearns Merchant Banking. (This Week's Retail News Nuggets).(buys Vitamin Shoppe)(Brief Article)
December 6, 2002... Bear Stearns Merchant Banking spent roughly $310 million to buy 120-store chain Vitamin Shoppe, which plans to have 500 stores in five years.

Halben Food Manufacturing Co. (This Week's Retail News Nuggets).(U.S. Foodservice acquires Allen Foods)(Brief Article)
December 6, 2002... Royal Ahold's U.S. Foodservice subsidiary purchased Allen Foods, a food distributor that services the St. Louis, Kansas City and southern Illinois markets. The deal does not include St. Louis-based Allen Foods' Halben Food Manufacturing Co.,...

Dillard. (This Week's Retail News Nuggets).(closing stores in Kentucky and Alabama )(Brief Article)
December 6, 2002... Dillard's is closing two underperforming department stores in Kentucky and one in Alabama.

Cutter & Buck. (This Week's Retail News Nuggets).(closing 13 unprofitable stores)(Brief Article)
December 6, 2002... Golf sportswear designer arid manufacturer Cutter & Buck will shutter its 13 unprofitable retail stores to focus on its production business.

Office Depot. (This Week's Retail News Nuggets).(selling Officeworks' Australian operations)(Brief Article)
December 6, 2002... Office Depot will sell its Australian operations to Officeworks, a subsidiary of Coles Myer.

Zany Brainy. (This Week's Retail News Nuggets).(will no longer sell video games)(Brief Article)
December 6, 2002... Zany Brainy is phasing out sales of video games at its stores.

Borders. (New Stores, New Markets).(opening stores in Montana )(Brief Article)
December 13, 2002... Borders is opening its first store in Montana. The chain will debut in Billings and Bozeman in mid-February 2003.

Target. (New Stores, New Markets).(opening store in Philadelphia)(Brief Article)
December 13, 2002... Target signed a lease to open in Philadelphia at Boulevard Plaza Shopping Center.

Pawsenclaws. (New Stores, New Markets).(new tenants at Dalles Town Center)(Brief Article)
December 13, 2002... New tenants for the Dalles (Va.) Town Center include Ann Taylor Loft, Bombay Kids, The Sharper Image and Pawsenclaws & Co, H&M will open there next spring.

KB Toys. (New Stores, New Markets).(opening store in Houston, TX)(Brief Article)
December 13, 2002... KB Toys opened at Memorial City Shopping Center in Houston.

Bible Factory Outlet. (New Stores, New Markets).(opening in Tupelo, Mississippi)(Brief Article)
December 13, 2002... Bible Factory Outlet opened in Tupelo, Miss...

Brooks Bros. (New Stores, New Markets).(opens at Pittsburgh International Airport)(Brief Article)
December 13, 2002... Brooks Bros. opened at Pittsburgh International Airport

Lowe's. (New Stores, New Markets).(Harper Woods, Michigan)(Brief Article)
December 13, 2002... Lowe's will open in Harper Woods, Mich., at Eastland Center by next

Greenwich. (New Stores, New Markets).(stores opening in Greenwich Center, Phillipsburg, NJ)(Brief Article)
December 13, 2002... Staples, Circuit City, Linens 'n Things and Michaels are just some of the chains now open at Greenwich Center in Phillipsburg, N.J.

Bruno's Supermarkets. (New Stores, New Markets).(opening store in Auburn, AL)(Brief Article)
December 13, 2002... Bruno's Supermarkets added a store this week in Auburn, Ala.

Barnes & Noble. (New Stores, New Markets).(leasing space in North Carolina and Ohio)(Brief Article)
December 13, 2002... Barnes & Noble leased space in West Chester, Ohio, and Raleigh, N.C. Both stores will open late in 2003.

Advance Auto. (New Stores, New Markets).(subleasing to Aaron Rents)(Brief Article)
December 13, 2002... Advance Auto subleased space in Jesup, Ga., and Long Beach, Miss., to Aaron Rents.

99 Cents Only Stores. (New Stores, New Markets).(Carmichael, CA)(Brief Article)
December 13, 2002... 99 Cents Only Stores set up shop in Carmichael, Calif.

GameStop. (New Stores, New Markets).(Waco, Texas)(Brief Article)
December 13, 2002... GameStop opened its 1,200th store in Waco, Texas

Cato. (New Stores, New Markets).(Southland Mall in Memphis, Tennessee)(Brief Article)
December 13, 2002... Cato just opened at Southland Mall in Memphis, Tenn.

Taubman rejects latest offer, can the courts help Simon win?(Simon Property Group)(Brief Article)
December 13, 2002... Simon Property Group has asked the courts for assistance in its hostile bid to acquire Taubman Centers, which owns or manages 30 shopping centers. After its latest tender offer of $18 per share in cash was described, as "inadequate,...

Factory 2-U will shutter 23 locations.(Brief Article)
December 13, 2002... One month after naming a new chairman and chief executive, Factory 2-U Stores has embarked on a restructuring initiative that includes the closure of 23 underperforming stores. Factory 2-U is putting the locks on 12 stores immediately and will...

Kmart to restate financial statements.(Brief Article)
December 13, 2002... Six months after it restated its earnings for the first three quarters of fiscal 2001, Kmart will restate its financial statements once again. The discount retailer said this week that it will restate its finances for prior fiscal years as well...

American Eagle. (People in the News).(James O'Donnell and Roger Markfield named co-chief executives )(Brief Article)
December 13, 2002... American Eagle named Roger Markfield and James O'Donnell as co-chief executives. They replace Jay Schottenstein, who will remain chairman.

Home Depot. (People in the News).(Kelly Barrett new controller)(Brief Article)
December 13, 2002... Home Depot named Kelly Barrett as its new controller, effective Jan. 1, 2003). She currently serves as CFO of Cousins Properties.

Chico. (People in the News).(Barry Shapiro senior VP of Pazo)(Brief Article)
December 13, 2002... Chico's named Barry Shapiro senior VP of its Pazo concept.

Footstar. (People in the News).(William Lenich appointed )(Brief Article)
December 13, 2002... Footstar appointed William Lenich as executive VP of its Meldisco division.

Carson Pirie Scott. (People in the News).(Fleming elects Peter Willmott)(Brief Article)
December 13, 2002... Fleming elected Peter Willmott, the former chairman, CEO and president of Carson Pirie Scott, to its board of directors.

Staples. (People in the News).(VP of environmental affairs Mark Buckley)(Brief Article)
December 13, 2002... Staples named Mark Buckley VP of environmental affairs.

Too. (People in the News).(James Shimizu VP of marketing promotions and events)(Brief Article)
December 13, 2002... Too named James Shimizu VP of marketing promotions and events.

Factory Card & Party Outlet. (People in the News).(Gary Rada CEO and president)(Brief Article)
December 13, 2002... Factory Card & Party Outlet promoted Gary Rada to CEO and president.

HSN. (People in the News).(Mark Bozek stepping down)(Brief Article)
December 13, 2002... Mark Bozek, the CEO and president of HSN, is stepping down from his posts.

The International Mass Retail Association. (People in the News).(Sandra Kennedy president)(Brief Article)
December 13, 2002... The International Mass Retail Association named Sandra Kennedy as its next president. She is a former senior VP of member services with the National Retail Federation. She will start on Dec. 30.

Retail sales pace dips in latest week.(Brief Article)
December 13, 2002... Comparable-store sales declined 2.3% in the week ended Dec. 7, compared with the previous week. The drop is attributed to the stormy weather that swept across the nation, according to the Bank of Tokyo-Mitsubishi.

Fleming to sell 11 stores in Wisconsin.(Brief Article)
December 13, 2002... Food wholesaler, and soon-to-be nonretailer, Fleming is finalizing plans to sell 11 of its Rainbow grocery stores in Wisconsin to two parties. The move comes roughly two months after the company announced that it would sell its 110 value-priced...

Mills acquires six shopping centers.(Mills Corp.)(Brief Article)
December 13, 2002... The Mills Corp. is spending roughly $621 million to acquire six shopping centers in two separate transactions. In the larger of the two deals, Mills is purchasing a 100% interest in five malls from Cadillac Fairview. Those properties include:...

Gap to restate inventory, accts. payable.(Brief Article)
December 13, 2002... Gap, Inc. says it will restate its merchandise inventory and accounts-payable amounts for the past six quarters. The apparel retailer says the restatements will not affect its net sales, net earnings, net cash flow, net working capital or...

Tractor Supply Co. (This Week's Retail News Nuggets).(building distribution center in Waco, Texas)(Brief Article)
December 13, 2002... Tractor Supply Co. will break ground in January on a 305,000-sq.-ft. distribution center in Waco, Texas. The facility will serve stores in Texas, Oklahoma and Arkansas.

Nordstrom. (This Week's Retail News Nuggets).(closing Nordstrom Rack at Franklin Mills in Philadelphia)(Brief Article)
December 13, 2002... Nordstrom will close its Nordstrom Rack store at Franklin Mills in Philadelphia due to a lack of growth there.

A&P. (This Week's Retail News Nuggets).(looking for locations in Connecticut)(Brief Article)
December 13, 2002... A&P is said to be scouting out real estate sites and talking with local union leaders in Connecticut to accommodate its Food Basics format.

Pier 1 Imports. (This Week's Retail News Nuggets).(building new corporate office in Fort Worth, TX)(Brief Article)
December 13, 2002... Pier 1 Imports will spend $90 million to construct a new 20-story office building for its corporate office in Fort Worth, Texas. It is expected to break ground on the project next month and move into the new facility in fall 2004.

Wal-Mart. (This Week's Retail News Nuggets).(increased stake in supermarket retailer Seiyu)(Brief Article)
December 13, 2002... Wal-Mart increased its stake in Japanese supermarket retailer Seiyu to 34% from 6.1%.

The Pantry. (People in the News).(Dan Kelly new CFO)(Brief Article)
December 13, 2002... The Pantry appointed Dan Kelly as its new CFO, replacing William Flyg.

New stores, new markets.(retailers open new stores)(Brief Article)
December 20, 2002... Bordern recently set up shop in West Lafayette, Ind., on the Purdue University campus. Next March, the chain will open in the Fort Lee (N.J.) Town Centre. The Home Depot opened this week in. Abilene, Texas, its 1,500th store. Ross...

Consumers will flock to stores this weekend to finish shopping.(Brief Article)
December 20, 2002... The nation's retail stores will be a beehive of activity this weekend. As the average consumer has completed just under half (49.3%) of his or her shopping, most shoppers are expected to complete their holiday purchases tomorrow and Sunday,...

FAO may seek bankruptcy protection.(FAO, Inc.)(Brief Article)
December 20, 2002... Its not exactly Will Robinson, but nonetheless, FAO, Inc. is in dangers. Financial danger that is. The toy retailer announced this week that it might have to file for bankruptcy protection and shutter some stores if its bank, Wells Fargo Retail...

99 Cents woos vendors with fees.( 99 Cents Only Stores )(Brief Article)
December 20, 2002... Extreme-discount retailer 99 Cents Only Stores will try to beat out its competitors for cut-rate merchandise by offering its vendors a "slotting allowance" for each new item purchased. The retailer will issue the allowance in the form of a 99...

Gap Direct. (People in the News).(former executive VP Mike Tucci appointed president of Coach's North American retail division)(Brief Article)
December 20, 2002... Leather-accessories retailer and manufacturer Coach appointed Mike Tucci president of its North American retail division. He most recently was executive VP of Gap Direct. Prior to that, Tucci served as president of Aeropostale.

The National Retail Federation (NRF). (People in the News).(named David Hogan senior VP and CIO)(Brief Article)
December 20, 2002... The National Retail Federation (NRF) named David Hogan senior VP, CIO, effective Jan. 6. Hogan joins the NRF from Duty Free Americas, where he served as VP and CIO.

The Neiman Marcus Group. (People in the News).(announces executive changes)(Brief Article)
December 20, 2002... The Neiman Marcus Group made a number of executive changes this week. The company named Brendan Hoffman president and CEO of Neiman Marcus Direct; Neva Hall executive VP of Neiman Marcus Stores. Also, Ron Goddard was promoted to senior VP of...

Safeway. (People in the News).(Rick Dreiling resigns as VP of marketing, manufacturing and distribution)(Brief Article)
December 20, 2002... Rick Dreiling resigned as executive VP of marketing, manufacturing and distribution of Safeway. He has been with the grocex since 1969 and is the former president of Vons.

Boots. (People in the News).(is looking for a new chief executive)(Brief Article)
December 20, 2002... British drug store chain Boots is searching for a replacement for its chief executive Steve Russell, who will continue in his role until a successor is found. Russell joined Boots in. 1967 and was named to his current post in April 2000. In...

Walmart.com. (People in the News).(appoints John Fleming president and chief executive)(Brief Article)
December 20, 2002... John Fleming was appointed president and chief executive of Walmart.com. He joined the discount retailer's e-commerce site in 2000 as chief merchant and most recently served as COO.

Foot Locker reducing Nike's store role.(Brief Article)
December 20, 2002... Foot Locker is cutting back on the amount of merchandise it purchases and sells from sneaker manufacturer Nike. In its quarterly report filed with the Securities and Exchange Commission this week, the specialty retailer said it expects its sale...

CBL plans six mall renovations in 2003.(CBL & Associates Properties)(Brief Article)
December 20, 2002... CBL & Associates Properties will give six of its shopping centers major renovations next year. The real estate firm says it will renovate Parkdale Mall in Beaumont. Texas; Jefferson Mall in Louisville, Ky.; St. Claire Square in Fairview...

Chapter 11 news: Troutman's, MJDesigns.(Brief Article)
December 20, 2002... Oregon department store chain Troutman's Emporium filed for bankruptcy protection, listing unsecured debts of $9.2 million. The department store chain is expected to shutter about three of its 34 locations and lay off roughly 10 of its...

This week's retail news nuggets.(Movie Gallery to purchase Superior Video; Petco to settle lawsuit)(Brief Article)
December 20, 2002... Movie Gallery is spending an undisclosed sum to purchase Superior Video, a 25-store chain in Canada. The specialty retailer says it will eventually change the Superior Video stores to its own banner. Petco will pay up to $2.5 million to...