Chain Store Age Executive Fax articles from January 2002

Chain Store Age Executive Fax archives from January 2002

Publix Super Markets. (New Stores, New Markets).(Brief Article)
January 4, 2002... Publix Super Markets will anchor a shopping center in Greensboro, Ga.

Should Kmart Seek Bankruptcy? Analysts Point to Advantages.(Brief Article)(Statistical Data Included)
January 4, 2002... A not so funny thing happened to Kmart chief executive Chuck Conaway on his way to work this week: He was advised by retail analysts that his company still does not have an identity and that it should consider filing for bankruptcy protection....

More Big-Ticket Sales at Blockbuster?(of home entertainment electronics)(Brief Article)(Statistical Data Included)
January 4, 2002... While Blockbuster has no plans to compete directly with Best Buy or Circuit City, the retailer says it may soon sell DVD players and other home-entertainment electronics, such as big-screen TVs, full time. The decision comes after its success...

Giant Eagle Buys Its Way into Maryland.(acquires six County Market supermarkets)(Brief Article)
January 4, 2002... Giant Eagle will gain entry into the Maryland market, thanks to a deal in which it will buy six County Market supermarkets, eluding four locations in the Old Line State. Financial terms of the agreement were not disclosed. All employees and...

People in the News.(includes multiple chain store industry hirings)(Brief Article)
January 4, 2002... OfficeMax named Michael Killeen CFO, succeeding Jeffrey Freimark. Killeen joined the company last month as senior executive VP of financial and corporate strategy. OfficeMax also named Neil Guliano senior VP of advertising and sales promotion,...

Sales Rise the Last Week of December.(Brief Article)(Statistical Data Included)
January 4, 2002... More shoppers came out the week after Christmas to stuff their own stockings than did in the weeks leading up the holiday season. Comps rose 0.9% in the week ending Dec. 29, compared with the adjusted sales level of the prior week, according to...

Federated, Meldisco Pair up for kids Biz.(Brief Article)
January 4, 2002... Federated Department Stores teamed with Footstar's Meldisco division to operate its licensed children's shoe departments, effective July 1. Federated's 46 children's shoe departments, which are currently operated by Stride Bite, will be...

Tractor Supply Harvests 'Quality' Shops.(company acquires Quality Stores' real estate assets)(Brief Article)
January 4, 2002... One year after Quality Stores was standing tall as the nation's largest farm-store retailer, the company has filed for bankruptcy and is selling a number of its assets to a rival. Tractor Supply Co. is acquiring the real estate assets of...

Store Closings may be common in 2002.(according to economist Frank Badillo of Retail Forward)(Brief Article)
January 4, 2002... The year 2002 will usher in store closings, more bankruptcy filings and further consolidation in the retail industry. That's the opinion of Frank Badillo, an economist with Retail Forward. "It's pretty clear that the weakness at apparel and...

This Weeks Retail News Nuggets.
January 4, 2002... Petco filed with the Securities and Exchange Commission for an initial public offering.... Real estate company Macerich sold Villa Marina Marketplace, a 448,000-sq.-ft. community shopping center located in Marina Del Ray, Calif., for roughly...

Borders is building a two-level store in the Gaslamp district of San Diego. (New Stores, New Markets).(Brief Article)
January 4, 2002... Borders is building a two-level store in the Gaslamp district of San Diego. It will open this spring.

Bed Bath & Beyond. (New Stores, New Markets).(Brief Article)
January 4, 2002... This fall, Bed Bath & Beyond will open a two-level store at The Grand Plaza, in Chicago.

Ashley Stewart. (New Stores, New Markets).(Brief Article)
January 4, 2002... Women's apparel chain Ashley Stewart added its second store in Harlem, N.Y.

Just For Feet, Linens 'N Things, Office Depot and Party City signed leases to open at Quebec Square. (New Stores, New Markets).(Brief Article)
January 4, 2002... Just For Feet, Linena 'N Things, Office Depot and Party City signed leases to open at Quebec Square, located in Denver.

Pier 1 Imports and The Art Stop will open shops this October at LaGrange. (New Stores, New Markets).(in Texas)(Brief Article)
January 4, 2002... Pier 1 Imports and The Art Stop will open shops this October at LaGrange (Ill.) Crossing.

Family Dollar. (New Stores, New Markets).(Brief Article)
January 4, 2002... Look for Family Dollar to add stores in Tucson, Ariz., and Apopka and Jacksonville, Fla.

The Home Depot. (New Stores, New Markets).(building store in Hawaii)(Brief Article)
January 4, 2002... The Home Depot is building a store in Hawaii in North Kona.

Foot Locker. (New Stores, New Markets).(Brief Article)
January 4, 2002... Foot Locker plans to set up shop on Chelton Ave. in Philadelphia.

Yankee Candle Co. will open a Home Store in South Deerfield, Mass. (New Stores, New Markets).(Yankee Candle Company Inc. store to open in Massachusetts)(Brief Article)
January 4, 2002... Yankee Candle Co. will open a Home Store in South Deerfield, Mass., this summer.

Ace Hardware. (New Stores, New Markets).
January 4, 2002... Ace Hardware added a store in Marana, Ariz.

Wal-Mart's 13th store in West Virginia will be located in Wheeling. (New Stores, New Markets).(Wal-Mart Stores Inc.)(Brief Article)
January 4, 2002... Wal-Mart's 13th store in West Virginia will be located in Wheeling. The chain is also planning to construct a supercenter in Delavan, Fla.

New stores, New markets.(multiple briefs)(Brief Article)
January 11, 2002... Dollar General leased space in Palm Bay, Fla... Beall's Outlets will open a store in Fountain Hills, Ariz.... Petco opened in La Mesa, Calif.... Talbot's Kids will open a shop this spring at Towne Square Wheaton (Ill.).... Tweeter Home...

December comps increase 2.3%, last-minute buyers save season.(Brief Article)(Illustration)(Statistical Data Included)
January 11, 2002... What was predicted to be the worst holiday season in a decade for comparable-store sales growth wound up being "only" the worst season since 1995. Comps increased 2.3% last December, according to the tally of 84 retailers compiled by the Bank...

People in the News.
January 11, 2002... Piercing Pagoda appointed Paul Leonard as president.... Anders Moberg is retiring as president of The Home Depot's international division, effective Jan. 25... Talbots promoted Cynthia Murray to senior VP of merchandising.... Saks named...

Sears remodeling, ends carpet sales.(Brief Article)
January 11, 2002... Sears will remodel 50 stores and open 15 shops this year that feature easy-to-shop layouts and centralized checkouts. The chain says it will have centralized checkouts in all 860 full-line stores by the middle of 2002. In other news, Sears will...

Rite AID, CVS swap stores and Rx files.(Brief Article)
January 11, 2002... From one drug store chain to another. Rite Aid is buying a dozen stores from its rival CVS. Rite Aid will take a charge of roughly $35 million in the fourth quarter as a result of the acquisition. It also acquired customer prescription files at...

Blockbuster to sell electronics solo.(Brief Article)
January 11, 2002... One week after stating it was interested in selling home-entertainment consumer electronics in its stores by itself; Blockbuster now says it will proceed with those plans. The news follows the cessation this week of the six-month partnership...

Service merchandise closing for good.(Brief Article)
January 11, 2002... Service Merchandise has given up on its reorganization plan and is now in the process of closing down its more than 200 stores. The company had been operating under Chapter 11 for roughly two years. Service Merchandise will begin...

Footwear news: Stride rite, Footstar.(multiple briefs)(Brief Article)
January 11, 2002... Stride Rite will introduce two children's footwear brands, Kid Smart and Baby Smart, at Target stores this spring. The news comes one week after Stride Rite said it would cease operating the children's shoe departments at 46 Federated stores in...

This week's retail news nuggets.(multiple briefs)(Brief Article)
January 11, 2002... The Federal Trade Commission approved Brooks Pharmacy's purchase of 80 Osco Drug stores in New England from Albertson's.... Good Guys will shutter eight underperforming stores in Washington, Oregon, California and Nevada over the next two...

New stores, New markets.(announcements of new retail openings and leases)(Brief Article)
January 18, 2002... Borders is opening a shop near Cornell University at the Pyramid Mall in Ithaca, N.Y., this spring.... 99 Cents Only Stores is opening its second store in Fresno (Calif.) County next Thursday.... Sport Chalet will open a store in Summerlin,...

Kmart shifts executives suite, Schwartz out as president/COO.(Kmart Corp. replaces Mark Schwartz)(Brief Article)
January 18, 2002... Perhaps Kmart's board of directors thinks that Chuck Conaway has too much on his plate at the moment to continue as chairman, what with the speculation that the retailer is one the brink of closing roughly 300 stores and filing for bankruptcy....

Federated disposing of Fingerhut.(Federated Department Stores Inc. plans to sell or shut Fingerhut Companies Inc.)(Brief Article)(Statistical Data Included)
January 18, 2002... Roughly three years after it spent $1.7 billion to acquire Fingerhut, Federated Department Stores said this week that it is closing down the on-line marketer and catalog operator, or selling it if a buyer can be found. Fingerhut reportedly lost...

People in the news.(Brief Article)
January 18, 2002... Intimate Brands appointed Ken Stevens COO of its Bath & Body Works division and Rick Payne COO of its White Barn Candle Co. division.... Food4Less, a division of Kroger, named Jay Cummins VP, general manager of its store operations department....

Quality Stores closing for good.(Quality Stores Inc. to close all remaining stores east of Mississippi River)(Brief Article)
January 18, 2002... Two weeks after Quality Stores sold the real estate assets of roughly 25 shops and the lease rights to an additional 60 locations to its rival Tractor Supply Co., the company uow Bays that it will shutter its 176 remaining stores located east...

Jacobson Stores files for bankruptcy.(Brief Article)
January 18, 2002... One week after reporting a more than fivefold increase in net losses, Jacobson Stores said it will close five stores in two states and has filed for Chapter 11 bankruptcy protection. The retailer, which specializes in apparel and home decor, is...

Gap separates U.S., international units.(Gap Inc.)(Brief Article)
January 18, 2002... Gap Inc. will no longer operate its namebrand division as a single global organization. The apparel chain said this week that it is splitting its domestic and international divisions in an effort to sufficiently address local demands. Ken Pilot...

Rodamco sells, new plan buys assets.(Rodamco North America N.V. sells assets to joint venture)(Brief Article)
January 18, 2002... Westfield America Trust, Simon Property Group and The Rouse Co. formed a joint venture to purchase the assets of Rodamco North America for $5.3 billion. Each company will acquire the remaining ownership interests of the portfolio assets they...

This week's retail news nuggets.(Brief Article)
January 18, 2002... Coldwater Creek is closing its distribution center in Sandpoint, Idaho, near its corporate headquarters and will shutter two clearance outlet locations.... The Home Depot is merging its Midsouth and Southern divisions to form the new Southeast...

After Kmart bankruptcy filing, brand focus next step for chain.(Brief Article)(Statistical Data Included)
January 25, 2002... Ending weeks of speculation, Kmart filed for Chapter 11 bankruptcy protection this past Tuesday, listing assets of $16.3 billion and debts of $10.3 billion. The move followed an announcement on Monday by Fleming, in which e food distributor...

Fleming backs Kmart, restarts shipping.(Brief Article)
January 25, 2002... Fleming's trucks are back on the road and making their way to Kmart's stores. Earlier this week, Fleming said it ceased shipping goods to the discount retailer's stores after it did not receive its weekly payment of roughly $78 million. The...

New stores, new markets.(Brief Article)
January 25, 2002... Trader Joe's will be an anchor tenant of South Shore Center, located in Alameda, Calif.... Williams-Sonoma, Pottery Barn and Pottery Barn Kids will all open stores at Rampart Commons in Las Vegas.... Hot Topic is coming to Pembroke Pines...

People in the news.(Brief Article)
January 25, 2002... Byron Bergren was appointed chief executive, president and a director of Elder-Beerman, effective Feb. 11. He comes from Belk, where he had served as either chairman or president for the past decade.... Mothers Work appointed Ed Krell as its...

Obituary: Stanley Marcus dies at 96.(chairman emeritus of Neiman Marcus)(Brief Article)
January 25, 2002... Stanley Marcus, the chairman emeritus of Neiman Marcus, died this week at the age of 96. Marcus joined the company in 1926 and was named president in 1950 and chairman of the board in 1972. He originated the company's weekly fashion shows...

Stop & Shop wants big V Supermarkets.(Brief Article)
January 25, 2002... It looks like there might be a bidding war for the assets of Big V Supermarkets. Stop & Shop, a division of Royal Ahold, bid roughly $255 million to acquire 27 Big V Supermarkets locations and other assets of the company. The offer followed a...

Service Merchanidse gets court's OK.(given permission by bankruptcy court to start going-out-of-business sales)(Brief Article)
January 25, 2002... Service Merchandise was given permission by a bankruptcy court to start going-out-of-business sales at its stores. The retailer filed for bankruptcy two weeks ago. The court also gave Service Merchandise approval to retain a joint venture...

Stop the presses! Amazon posts profit.(Brief Article)(Statistical Data Included)
January 25, 2002... After four years and roughly $3 billion in losses, Amazon.com has finally reported a net profit. The e-retailer recorded a profit of $5 million in the fourth quarter, compared with a loss of $545 million in the prior-year period. Net sales for...

Macy's East to shutter two locations.(in Birmingham, Ala., and Augusta (Ga.) )(Brief Article)
January 25, 2002... Macy's East, a division of Federated Department Stores, will shutter its stores at Riverchase Galleria in Birmingham, Ala., and Augusta (Ga.) Mall this spring. A total of 337 employees will be affected by the store closings. Liquidation sales...

This week's retail news Nuggets.(Country Road closing its domestic operations)(Brief Article)
January 25, 2002... Australian apparel and homeware retailer Country Road is closing its domestic operations after failing to turn a profit. The company expects to report a loss of roughly $1.8 million far the six months ended Dec. 31,2001. The closure of the 20...