Chain Store Age Executive Fax articles from December 2003

Chain Store Age Executive Fax archives from December 2003

New stores, new markets.(includes multiple news briefs)(Brief Article)
December 5, 2003... Jos. A. Bank will open early next year in Ormand Beach, Fla., at The Trails Shopping Center, its 11th store in the state.... T.J. Maxx opens next September at Foothills Mall in Maryville, Tenn.... Borders opens next February in San Francisco...

In the wake of Black Friday, November sales seen as mixed.
December 5, 2003... The upbeat reports of holiday sales, including Wal-Mart's record-breaking day of $1.52 billion on Black Friday, have been quieted somewhat by the mixed bag of November sales results. The Bank of Tokyo-Mitsubishi's (BTM) same-store sales tally...

John Goodman was appointed senior VP, chief apparel officer of Kmart.(People In The News)(Brief Article)
December 5, 2003... John Goodman was appointed senior VP, chief apparel officer of Kmart. He joins the discount chain from Gap, Inc. In addition, Kmart named James Donlon as its new senior VP, CFO. He comes from Daimler/Chrysler Corp....

Safeway CFO Vasant Prabhu, who also holds the titles of executive VP and president of e-commerce businesses.(People In The News)(Brief Article)
December 5, 2003... Safeway CFO Vasant Prabhu, who also holds the titles of executive VP and president of e-commerce businesses, is leaving the retailer to become CFO of Starwood Hotels and Resorts Worldwide in White Plains, N.Y. A search for his replacement is...

Bon-Ton Stores.(People In The News)(announces plans of Tim Grumbacher to step down as CEO)(Brief Article)
December 5, 2003... Tim Grumbacher, CEO of Bon-Ton Stores, plans to step down in mid-2004 as part of an orderly succession plan. He will remain chairman, and his family will continue to hold a controlling stake in the chain....

Big Lots.(People In The News)(names John Martin to executive vice president of merchandising)(Brief Article)
December 5, 2003... Big Lots appointed John Martin to the post of executive VP of merchandising....

The board of directors of Jo-Ann Stores elected Patricia B. Morrison to its board.(People In The News)(Brief Article)
December 5, 2003... The board of directors of Jo-Ann Stores elected Patricia B. Morrison to its board. Morrison is executive VP and chief information officer for Office Depot.

Hacking leads to PETCO probe.(Brief Article)
December 5, 2003... PETCO Animal Supplies is under investigation from the U.S. Federal Trade Commission, which is seeking information about its e-commerce Web site and the company's handling of personal information. The probe is connected to a digital attack from...

Wal-Mart says no to MasterCard debit.(Brief Article)
December 5, 2003... In a decision that shook the payment systems industry, Wal-Mart Stores said it will no longer accept MasterCard signature-based debit cards beginning Feb. 1. The world's largest retailer said the transaction fees of the cards are too high....

Attorney General enters labor dispute.(in Southern California)(Brief Article)
December 5, 2003... The attorney general of California is investigating the possibility of antitrust violations on the part of supermarket retailers--Albertson's, Safeway and Kroger--that are currently embroiled in a labor dispute with union representatives. Some...

FAO Inc. goes back to Chapter 11.(Brief Article)
December 5, 2003... Just as the toy-selling season heats up to boiling point, FAO Inc. filed for Chapter 11 bankruptcy protection for the second time this year, and embarked on inventory-clearance sales in the vast majority of its stores. King of Prussia,...

This week's retail news nuggets.(includes multiple news briefs)(Brief Article)
December 5, 2003... Starbucks is removing the $2 non-usage fee disclaimer on the back of its stored value cards. The company says it has never charged non-usage fees, and the change to the fine print will ensure that it won't in the future.... For the first time...

New stores, new markets.(includes multiple news briefs)(Brief Article)
December 12, 2003... Best Buy and Hobby Lobby will take over Kmart's site in Columbia, Mo., after it closes in February.... The Shops at Atlas Park, Glendale, N.Y., signed Coldwater Creek, Elizabeth Arden Red Door Salon and Jos. A. Bank as tenants. The shopping...

Kroger ends one worker strike, still no deal in So. Calif. stores.(Brief Article)
December 12, 2003... One union agreement reached, one more to go. Kroger reached an agreement on a new labor contract with 3,000 employees who work in 44 stores in West Virginia, Ohio and Kentucky. The deal, which ends a near two-month work stoppage, will make the...

On-line sales stats lead to optimism.(Brief Article)
December 12, 2003... Consumers seem to be embracing on-line shopping this holiday season more than ever. A study conducted by Shop.org and BizRate.com discovered that more than half of e-retailers saw sales increase more than 25% over the Black Friday weekend,...

Toy personality seeks to acquire FAO.(Ken Hakuta intends to acquire FAO Schwarz)
December 12, 2003... Don't write off FAO Schwarz just yet. Ken Hakuta, a toy inventor and entrepreneur, announced his intention to acquire the ailing retailer this week from its bankrupt corporate parent FAO, Inc. However, a deal would have to be struck quickly, as...

Restoration Hardware.(People In The News)(announces resignation of Tom Bazzone)(Brief Article)
December 12, 2003... Tom Bazzone is stepping down as executive VP and COO of Restoration Hardware. He joined the home-furnishings retailer in July 2001....

Factory 2-U Stores.(People In The News)(announces resignation of chairman, CEO William Fields)(Brief Article)
December 12, 2003... William Fields resigned as chairman and CEO of Factory 2-U Stores, effective immediately. The chain has established an executive committee to manage its daily affairs and appointed Norman Plotkin as interim CEO....

Spartan Stores hired Theodore Adomato, formerly of Tops Markets.(People In the News)(Brief Article)
December 12, 2003... Spartan Stores hired Theodore Adomato, formerly of Tops Markets, as executive VP of retail operations....

Gap, Inc.(People In The News)(announces retirement of Donald Fisher as chairman of the board)(Brief Article)
December 12, 2003... Donald Fisher, the founder of apparel retailer Gap, Inc., is stepping down as chairman of the board, effective next May. He will assume the role of chairman emeritus while his son Ronald, a director, takes on the role of non-executive...

J.C. Penney has elected Colleen Barrett, president and COO of Southwest Airlines, to its board of directors.(People In The News)(Brief Article)
December 12, 2003... J.C. Penney has elected Colleen Barrett, president and COO of Southwest Airlines, to its board of directors. The move will take effect on Jan. 1.

CFO of Whitehall let go after probe.(Whitehall Jewelers dismisses CFO John Browne)(Brief Article)
December 12, 2003... Whitehall Jewelers officially dismissed its CFO, Jon Browne, as a result of an internal probe. Browne was placed on leave last month after the retailer found policy violations related to documenting the age of its inventory. Whitehall says John...

Discount shopping loses its stigma.(Brief Article)
December 12, 2003... Discount department stores have continued to perform well relative to other retailers, particularly department stores, in a less-than-robust consumer-spending environment, according to a new report published by Standard & Poor's Ratings...

Boise completes OfficeMax purchase.(Brief Article)
December 12, 2003... OfficeMax is moving its corporate office from Cleveland to Itasca, Ill., following the completion of its $1.3 billion acquisition by Boise Cascade Corp. The company will become part of the Boise Office Solutions division, where it will continue...

Insiders say Giant Food reducing hours.(Brief Article)
December 12, 2003... Store managers at Giant Food were instructed to reduce employee hours and change prices on thousands of items as part of an effort to boost earnings, according to an article this week in The Washington Post. According to one store manager, who...

This week's retail news nuggets.(includes multiple news briefs)(Brief Article)
December 12, 2003... After rejecting Kroger's bid to acquire 11 Big Bear stores in Ohio, Penn Traffic Co. says it found two other buyers for the locations. The retailer will sell a group of five Big Bear stores to Giant Eagle for roughly $40.3 million. Two other...

New stores, new markets.(includes multiple records)(Brief Article)
December 19, 2003... Borders Books & Music will open two new stores in Texas, one each in Dallas and Houston.... Kaufmann's will open a new store at Eastland Mall in Columbus, Ohio. The store is expected to open in fall 2005.... Snyder's Drug Stores opened its...

Weather outside was frightful, late holiday surge on wish list.
December 19, 2003... There's still time for a solid holiday selling season, but the clock is winding down. Winter storms paved the way for disappointing early holiday sales. Two seasonal heavyweights--Wal-Mart Stores and Target Corp.--both reported sluggish...

So. Cal. labor talks set to resume today.(talks between United Food and Commercial Workers, Albertson's Inc., Kroger Co., Safeway Inc. will resume)(Brief Article)
December 19, 2003... Negotiations were scheduled to resume today between three supermarket operators and the union representing about 70,000 Southern California grocery workers who have been on strike or locked out of the stores for more than two months, a federal...

Sears reviews its headquarters ... again.(Brief Article)
December 19, 2003... Sears, Roebuck and Co., once the nation's largest retailer, is today looking at more ways to reduce costs, and employees are bracing for the possibility of another round of cuts. Sears last week began an internal review designed to improve "the...

Ultimate Electronics.(People in the News)(announces planned retirement of CEO Edward McEntire)(Brief Article)
December 19, 2003... Ultimate Electronics CEO Edward McEntire plans to retire at the end of the year. He will be replaced by David Workman, currently president and COO of the company....

Cees van der Hoeven, former CEO of Royal Ahold, has initiated an arbitration proceeding relative to the termination of his employment.(People in the News)(Brief Article)
December 19, 2003... Cees van der Hoeven, former CEO of Royal Ahold, has initiated an arbitration proceeding relative to the termination of his employment. Van der Hoeven resigned earlier this year following disclosure that the company's U.S. Foodservice division...

Fresh Brands hired John Dahly as CFO.(People in the News)(Brief Article)
December 19, 2003... Fresh Brands hired John Dahly as CFO. Dahly worked for Fresh Brands for 17 years, serving as CFO between 1986 and 2001. Since then, he's served as a consultant to Fresh Brands. Dahly replaces Pat Plumley, who left Fresh Brands in September. The...

Three former and current executives of footwear retailer Genesco Inc. are the target of a new lawsuit filed by the Securities and Exchange Commission.(People in the News)(Brief Article)
December 19, 2003... Three former and current executives of footwear retailer Genesco Inc. are the target of a new lawsuit filed by the Securities and Exchange Commission. The suit alleges that the executives made misleading statements that artificially inflated...

Morrison makes strong bid for safeway.(William Morrison Supermarkets PLC offers 3 billion pounds for Safeway PLC)(Brief Article)
December 19, 2003... William Morrison Supermarkets PLC earlier this week offered 3 billion [pounds sterling] ($5.24 billion) for Safeway PLC. The bid comes almost a year after its initial offer of 2.9 billion [pounds sterling]. Morrison will offer Safeway...

Electronics chains get in the black.(Circuit City Stores Inc., Best Buy Company Inc. report third quarter earnings)(Brief Article)
December 19, 2003... Best Buy Co. and Circuit City Stores both showed big improvements over last year's third-quarter earnings. Best Buy earnings increased 42% to $122 million, while Circuit City swung to a profit of $1.47 million, compared to a loss of $17.8...

Wal-Mart shaves pennies off digi songs.(Wal-Mart tests digital music download service for 88 cents per song)(Brief Article)
December 19, 2003... Just as consumers were getting comfortable with the concept of digital songs sold for 99 cents each, Wal-Mart Stores went lower. Wal-Mart is testing a digital music download service on its Web store. The retail giant says it will allow...

This week's retail news nuggets.(includes multiple records)(Brief Article)
December 19, 2003... Rite Aid rose into the black for the third quarter by posting net income of $22.5 million, compared to a net loss of $16.4 million in last year's quarter. Same-store sales increased 6.4%.... Family Dollar plans to construct a 907,000-sq.-ft....