Chain Store Age Executive Fax articles from January 2004

Chain Store Age Executive Fax archives from January 2004

New stores, new markets.(includes multiple news briefs)(Brief Article)
January 1, 2004... In August, Barnes & Noble will open in Millbury, Mass., at The Shoppes at Blackstone Valley; Minnetonka, Minn., at Ridgehaven Mall; and at The Crossings Shopping Center in Corona, Calif.... Victoria Gardens, a new 1.3 million-sq.-ft. lifestyle...

Last-minute shoppers save year, Web sales show strong growth.(Brief Article)
January 1, 2004... Procrastinating shoppers turned out to be a blessing in disguise for retailers this past holiday season, giving a much-needed strong ending to offset weak sales growth earlier in the season. Many retailers also expect a post-Christmas shopping...

FAO finds two buyers for select assets.(FAO Inc. sells Manhattan FAO Schwarz store to VGACS Acquisition Inc.)(Brief Article)
January 1, 2004... The fabled Fifth Avenue FAO Schwarz store in Manhattan will live to see another day. The toy store's parent company, FAO Inc., sold the retail landmark, along with FAO's store in Las Vegas at the Forum Shops at Caesars, to VGACS Acquisition...

Future bright for gift-giving market.(Brief Article)
January 1, 2004... The gift-giving market expands well beyond the traditional holiday season of November to December. According to Unity Marketing, out of the total $2,062 annual gifting budget, the typical gift giver spends just 40% of that amount during...

Les Boutiques CEO calls it les quits.(Sylvain Toutant)(Brief Article)
January 1, 2004... Sylvain Toutant resigned as CEO and president of Canadian retailer Les Boutiques San Francisco, Inc. earlier this week. Another director of the company, which is operating under bankruptcy protection, also resigned from the board of directors.

Wizards of the Coast to close.(Brief Article)
January 1, 2004... Wizards of the Coast, Inc., a subsidiary of toy maker Hasbro, Inc., is closing its retail stores, which include the Wizards of the Coast stores and the affiliated The Game Keeper stores. The move out of the retail business will enable a deeper...

Farmer Jack, union reach agreement.(Farmer Jack Supermarkets, United Food and Commercial Workers Union ink labor deal)(Brief Article)
January 1, 2004... Farmer Jack signed a labor agreement with Local 876 of the United Food and Commercial Workers Union (UFCW), a move that will help it regain financial stability. Members of Local 876 ratified the agreement this week, which amends an existing...

Healthy consumer outlook for 2004.(Brief Article)
January 1, 2004... It appears more U.S. consumers plan to loosen their purse strings in 2004. What's more, a growing percentage of Americans are feeling optimistic about their individual futures, according to the results of the 2004 Outlook Study, conducted by...

Eddie Bauer plans 29 more closings.(Spiegel Inc.)(Brief Article)
January 1, 2004... Bankrupt retailer Spiegel, Inc. identified 29 additional Eddie Bauer stores it intends to close this year including 16 that involve lease expirations. Subject to bankruptcy court approval, the going-out-of-business sales at the stores will...

May buys another formalwear chain.(May Department Stores Co. purchases Gingiss Group)(Brief Article)
January 1, 2004... May Department Stores Co. is spending an undisclosed sum to acquire select assets of the Gingiss Group, which operates 125 company-owned Gingiss Formalwear and Gary's Tux Shop stores. May says it will integrate the stores into its Bridal Group,...

This week's retail news nuggets.(includes news from FedEx Corp., Kinko's Inc., Kmart Corp.)(Brief Article)
January 1, 2004... FedEx Corp. is spending $2.4 billion to acquire Kinko's. All 1,200 Kinko's locations worldwide will offer new or expanded FedEx shipping options. FedEx has been Kinko's exclusive shipping provider since 1988 and currently operates full-service,...

New stores, new markets.(includes multiple news briefs)(Brief Article)
January 9, 2004... 99 Cents Only Stores debuted this week in Tucson, Ariz. It operates 14 other stores in the state.... Nordstrom signed a letter of intent to open in Miami at Dadeland Mall in a former Lord & Taylor location. The new Nordstrom store, which will...

Strong end to holiday season; best two-month period since '99.
January 9, 2004... After starting off rather sluggishly, the holiday shopping season ended strongly in the final two weeks of December. Retail same-store sales rose 4.2% across the industry, according to a tally compiled by the International Council of Shopping...

Factory 2-U Stores.(People In The News)(Douglas Felderman resigned as CFO)(Brief Article)
January 9, 2004... Douglas Felderman resigned as CFO of Factory 2-U Stores. John Swygert, senior VP of finance and planning, has assumed the post on an interim basis. Last month, Bill Fields resigned as chairman and CEO of Factory 2-U.

Big Lots.(People In The News)(promoted Joe Cooper to senior VP, CFO)(Brief Article)
January 9, 2004... Big Lots promoted Joe Cooper to senior VP, CFO. He recently served as VP and treasurer.

Old Navy named Ivy Ross.(People In The News)(named Ivy Ross executive vice president of product design and development)(Brief Article)
January 9, 2004... Old Navy named Ivy Ross, a former VP with Mattel, as executive VP of product design and development.

Musicland Group.(People In The News)(promoted Flora Delaney to vice president of visual merchandising and space planning)(Brief Article)
January 9, 2004... Musicland Group promoted Flora Delaney to VP of visual merchandising and space planning.

REX Stores.(People In The News)(Larry Tomchin to resign as COO and president)(Brief Article)
January 9, 2004... Larry Tomchin will resign as COO and president of REX Stores on Jan. 31. He will remain a director, as well as a part-time employee and consultant.

Farmer Jack will close 13 more sites.(Brief Article)
January 9, 2004... Farmer Jack intends to close 13 stores in southern Michigan by mid-February, one month after it said it would close its two stores in Lansing, Mich. Some workers will have the option to transfer to other Farmer Jack stores or accept a voluntary...

Payless sued over shoe stripe design.(Asics Corp. alleges unfair competition, trademark infringement)(Brief Article)
January 9, 2004... Payless ShoeSource was accused of trademark infringement for the style of one of its shoe designs that allegedly bears a similar stripe design to that of Asics, another footwear company. Asics America Corp. and Asics Corp. Japan filed suit...

Wet Seal, Gadzooks each to close stores.(Brief Article)
January 9, 2004... Changes are on tap at two apparel retailers that cater to young women and girls. Wet Seal said this week it was looking for a buyer for its 31-store Zutopia division, which it acquired from Gymboree in 2001. If it is unable to find a buyer for...

Toys 'R' Us' holiday lost in translation.(Brief Article)
January 9, 2004... The nation's second-biggest toy retailer reported weak sales results during the holiday season. Toys "R" Us reported total sales of $4.42 billion in the nine weeks ended Jan. 3, a mere 0.9% increase over the prior-year period. Challenged by...

Casual Male boosting ad spending.(chain will feature George Foreman as spokesman)(Brief Article)
January 9, 2004... Believing company spokesman George Foreman will have a big impact on sales, Casual Male said this week that it will double its ad spending on the upcoming launch of its George Foreman Signature Collection and Comfort Zone to $10 million, from...

This week's retail news nuggets.(includes news from Boise Cascade Corp., Menards, Home Depot Inc., Eddie Bauer)(Brief Article)
January 9, 2004... Eddie Bauer began liquidation sales at 29 stores.... The Home Depot acquired Creative Touch Interiors, a provider of flooring, countertops and window treatments for homebuilders in Las Vegas and Southern California.... Menards will expand its...

New stores, new markets.(includes multiple news briefs)(Brief Article)
January 16, 2004... Construction has commenced on Imperial Valley Mall in El Centro, Calif. The single-level facility will feature Dillard's, J.C. Penney, Robinsons-May and Sears along with 100 other retailers. The center is expected to open in spring 2005.......

New year, new chapter 11 filings: Factory 2-U, KB toys ask for help.(Brief Article)
January 16, 2004... The New Year usually brings along with it new bankruptcy filings, and 2004 is no different. Factory 2-U Stores and KB Toys filed for bankruptcy protection this week, moves that could have been expected based on recent activity at both...

Gift-card buys boost post-holiday sales.(Brief Article)
January 16, 2004... Only half of U.S. consumers who received gift cards this past holiday season have redeemed them in stores, according to a new study conducted by Deloitte Consulting. According to the survey, consumers received an average of 2.5 gift cards that...

CVS closes door on three benefit plans.(Brief Article)
January 16, 2004... CVS has pulled out of three pharmacy-benefit plans due to the requirement by patients to fill maintenance medications solely through a mail-order service. The plans are administered by National Medical Health Card. CVS also noted that it would...

Sears names new CEO of Lands' End.(Mindy Meads)(Brief Article)
January 16, 2004... Sears named Mindy Meads as CEO and president of its Lands' End division, effective Feb. 1. She replaces Dave Dyer, who left the company last year. Meads, who currently serves as executive VP of merchandising and design at Lands' End, will...

Rite Aid.(People In The News)(promotes John Standley to CFO)(Brief Article)
January 16, 2004... Rite Aid named John Standley as its new CFO after it asked Chris Hall to resign due to an unrelated accounting probe while he worked at Ralphs. Hall was named senior VP of real estate and planning of Rite Aid. Standley will continue to serve as...

Dick's Sporting Goods.(People In The News)(hires Bill Dandy as chief marketing officer, senior vice president)(Brief Article)
January 16, 2004... Dick's Sporting Goods named retail industry veteran Bill Dandy as senior VP, chief marketing officer. He has been employed at Jo-Ann Stores, Famous Footwear, Michaels Stores, Ames and Mervyn's.

Party City Corp.(People In The News)(promotes Nancy Pedot, Rick Griner)(Brief Article)
January 16, 2004... Party City Corp. appointed Nancy Pedot CEO, a position she had been filling on an interim basis since last April. Also, Rick Griner was named COO.

Odd job files form 15 with the sec.(Odd Job Stores Inc.)(Brief Article)
January 16, 2004... Odd Job Stores, Inc., filed a Form 15 with the Securities and Exchange Commission to deregister its common stock and suspend its reporting obligations.

Aura science to open in limited stores.(Limited Brands Inc. will shut down freestanding Aura Science division)(Brief Article)
January 16, 2004... Limited Brands, Inc. is shutting down its freestanding Aura Science division, which currently operates nine stores. Instead, it will bring the format, which was launched in 2002 in association with Japanese cosmetics firm Shiseido, to roughly...

Borders raises 4Q earnings forecast.(Brief Article)
January 16, 2004... Buoyed by strong holiday sales results, Borders Group Inc. raised its fourth-quarter earnings guidance to roughly $1.50 per share. It previously forecast earnings of roughly $1.47 per share. Sales in Borders' name brand division rose 8.4% to...

Back to 'basics' for farmer jack stores.(Farmer Jack will transform some Detroit stores into Food Basics stores)(Brief Article)
January 16, 2004... All is not lost for some of the stores Farmer Jack has slated for closure in the Detroit area. The retailer, a division of A&P, said this week that it will transform 10 of the 13 Farmer Jack stores to the value-priced Food Basics banner by...

S&P lowers rating on toys "R" Us.(Brief Article)
January 16, 2004... Days after Toys "R" Us reported a 4.9% decline in same-store sales for the holiday period, Standard & Poor's Ratings Services lowered its long-term and short-term corporate credit ratings on the toy retailer. According to S&P, the downgrade...

Safeway closing 12 Chicago-area stores.(Brief Article)
January 16, 2004... Dominick's will close a dozen underperforming supermarkets in the Chicago market. Safeway, the parent company, said the move will result in a pre-tax charge of $50 million in the first quarter of 2004.

New stores, new markets.(includes multiple news briefs)(Brief Article)
January 23, 2004... Save-A-Lot recently opened in a former Handy Andy site in San Antonio, its first store in the area.... Dollar Tree will open this spring in Villa Park, Ill.... Neiman Marcus will join the tenant roster at Town Center at Boca in Boca Raton,...

H&M to enter the Canadian market.(Hennes and Mauritz AB)(Brief Article)
January 23, 2004... Swedish apparel powerhouse Hennes & Mauritz (H&M) will open its first stores in Canada later this year with five locations in the greater Toronto area. H&M will open at Fairview Mall and at The Promenade this March, according to a report from...

Ahold continues to streamline with C-store sale, office merger.(Ahold USA Inc.)(Brief Article)
January 23, 2004... After a steady string of acquisitions over the past few years, Ahold USA is now moving in the opposite direction. The supermarket retailer continues to divest and sell its non-core assets, a move it hopes will set it back on the road to...

Shoppers see holiday improvements.(Brief Article)
January 23, 2004... A mixture of survey results has been interpreted as evidence that retailers are getting better at getting noticed and impacting the way shoppers behave. "The good news this holiday season was that more shoppers felt significantly better about...

AFL-CIO assists in Calif. labor dispute.(Brief Article)
January 23, 2004... Maybe a vigil outside the home of Safeway's CEO will help put an end to the Southern California grocery strike. According to a report in the Los Angeles Times this week, the AFL-CIO labor organization will intervene in the strike to help turn...

Footstar.(People In The News)(retailer hires Dale Hilpert as president, CEO, chairman)(Brief Article)
January 23, 2004... Footstar hired Dale Hilpert as chairman, CEO and president. Hilpert is the former chairman and CEO of Foot Locker. Footstar, which will restate its earnings for the years between 1997 and 2002, is exploring its options up to, and including, the...

Gap Inc.(People In The News)(hires Jeff Jones, Cynthia Harriss)(Brief Article)
January 23, 2004... Gap Inc. appointed Jeff Jones executive VP of marketing for the Gap division, effective April 1. The retailer also appointed Cynthia Harriss president of its outlet store division, which has more than 200 locations across the country. Harriss...

Frank's Nursery & Crafts.(People In The News)(retailer announces resignation of Bruce Dale as CEO)(Brief Article)
January 23, 2004... Bruce Dale resigned as CEO and a director of Frank's Nursery & Crafts. He had been serving as CEO since last April. Dale will assist Frank's during the transition period.

Wal-Mart to test Money Centers.(Brief Article)
January 23, 2004... Wal-Mart Stores is testing "Wal-Mart Money Centers" in more than a dozen stores in Georgia and Tennessee. The centers are operated by the National Bank of Commerce and represent a pilot program of financial services such as money transfers and...

Stater Bros. will build new DC, HQ.(grocer seeks new distribution center, headquarters)(Brief Article)
January 23, 2004... Stater Bros. is scouting sites to build a new distribution center to replace its older facility in Colton, Calif. The grocer also intends to build a new corporate office, according to a report in Press-Enterprise.

Three retailers plan store closings.(Kash n' Karry Food Stores Inc., Federated Department Stores Inc., Illuminations)(Brief Article)
January 23, 2004... Kash 'n Karry will close 34 stores in Florida by the end of February, including 15 stores in the Orlando market. The Delhaize America unit also will shutter seven stores in Polk County and six other locations on the East Coast of the Sunshine...

Weekly sales down, but yearly sales up.(Brief Article)
January 23, 2004... For the week ending Jan. 17, sales looked better when compared to the prior year as opposed to the previous week. According to ShopperTrak, week-over-week sales declined for the fourth straight week, as consumer spending fell by 6% compared to...

Spartan stores changing some banners.(Brief Article)
January 23, 2004... As part of an effort to streamline its retail operations and take advantage of its more recognized formats, Spartan Stores, Inc. said this week that it will change the name of three of its supermarket divisions. Spartan plans to relabel its...

This week's retail news nuggets.(includes multiple news briefs)(Brief Article)
January 23, 2004... Whole Foods Market, Inc. is spending $38 million in stock to acquire Fresh & Wild Holdings Ltd., a natural- and organic-food chain that operates six stores in England.... Wet Seal will pay $90,000 to settle a lawsuit related to the payment of...

New stores, new markets.(Brief Article)
January 30, 2004... Barnes & Noble opens this September at Logan Town Centre in Altoona, Pa. One month later it will open in Newburgh, N.Y., and in Fort Worth, Texas, at Hulen Shopping Center.... Petco and Publix open this spring at Decatur (Ala.) Commons Shopping...

New Tween Debut.(Brief Article)
January 30, 2004... NEW TWEEN DEBUT Too, Inc. debuted its latest tween apparel and accessories concept, Justice, this week at Polaris Town Center in Columbus, Ohio. The 5,000-sq.-ft. store is the first of two area Justice stores scheduled to open this month. A...

KB toys, Wilsons leather begin store closing sales this week.(Wilsons Leather Experts Inc.)(Brief Article)
January 30, 2004... Just one month into 2004 and already 15 retailers have announced plans to shutter nearly 750 stores collectively, the latest companies being KB Toys and Wilsons Leather, which have already commenced liquidation sales. Two weeks after filing for...

Valentine's day 2004: with 23.4% more love.(surveys on consumers spending)(Brief Article)
January 30, 2004... Red may be the color of love, but the National Retail Federation believes this year's Valentine's Day season will see consumers spend 23.4% more green on their loved ones. According to a recent survey by the NRF, the average consumer will spend...

Sears earnings more than triple in 4Q.(Fourth Quarter)(Brief Article)
January 30, 2004... Buoyed by strong sales of digital electronics, tools and Lands' End merchandise, Sears reported a more than threefold increase in its fourth-quarter earnings, from $848 million to $2.7 billion in the period ended Jan. 3. The latest quarterly...

Ron Frasch left his position as chairman and CEO of Bergdorf Goodman, a division of Neiman Marcus Group, to join Saks, Inc.(People In The News)(Brief Article)
January 30, 2004... Ron Frasch left his position as chairman and CEO of Bergdorf Goodman, a division of Neiman Marcus Group, to join Saks, Inc. It is unclear at the moment what role he will take at Saks. Burton Tansky, president and CEO of Neiman Marcus Group,...

J. Crew appointed Tracy Gardner as executive VP of merchandising, planning and production.(People In The News)(J. Crew Group Inc.)(Brief Article)
January 30, 2004... J. Crew appointed Tracy Gardner as executive VP of merchandising, planning and production. She most recently was senior VP of merchandising at Gap. Also, Scott Gilbertson resigned as COO of J. Crew. He is expected to return to Texas Pacific...

TJX Cos. appointed Jeffrey Naylor as executive VP and CFO, effective Feb. 2. TJX' current CFO, Donald Campbell, will assume the role of executive VP, chief administrative and business development officer.(People In The News)(Brief Article)
January 30, 2004... TJX Cos. appointed Jeffrey Naylor as executive VP and CFO, effective Feb. 2. TJX' current CFO, Donald Campbell, will assume the role of executive VP, chief administrative and business development officer. Naylor joins TJX from Big Lots, where...

The Children's Place named former Gap Outlet executive Neal Goldberg as its president.(People In The News)(Children's Place Retail Stores Inc.)(Neal Goldberg)(Brief Article)
January 30, 2004... The Children's Place named former Gap Outlet executive Neal Goldberg as its president.

Tractor supply to consolidate HQ.(Head Quarters)(Brief Article)
January 30, 2004... Tractor Supply will consolidate its corporate offices into one location in Maryland Farms, Tenn. The retailer hopes to move into the new 100,000-sq.-ft. facility by the summer. Tractor Supply currently has offices in three separate locations...

Wal-Mart contests big-box restrictions.(Brief Article)
January 30, 2004... Authorities in Alameda County in California who have banned Wal-Mart from building supercenters there may want to consider the following: The stores would create 36,400 jobs in Southern California and save consumers $3.76 billion annually....

Penney trims costs, may split up Eckerd.(J.C. Penney Company Inc.)(Brief Article)
January 30, 2004... Continuing its efforts to shore up expenses, J.C. Penney will close its telemarketing center in Austin, Texas, during the second quarter of 2004 and reallocate the call volume to its remaining telemarketing centers, affecting 475 employees. It...

Consumer confidence increases again.(Retail price indexes)(Brief Article)
January 30, 2004... The Conference Board's consumer confidence index increased from 91.7 in December to 96.8 this month, the highest since July 2002. The private research group also reported that the number of people who thought jobs were easy to get fell to 12.4%...

This week's retail news nuggets.(Brief Article)
January 30, 2004... Spartan Stores completed the sale of its United Wholesale Grocery Co.'s operating assets for about $10 million. Spartan will use the proceeds to reduce debt.... Gadzooks formed a restructuring committee and hired outside consultants to help...