Chain Store Age Executive Fax articles from July 2001

Chain Store Age Executive Fax archives from July 2001

NEW STORES, NEW MARKETS.(Home Depot )(Brief Article)
July 13, 2001... Rooms To Go signed a lease to open in Dallas. The store will open in spring 2002.... Ross Stores is adding a shop in El Cerrito, Calif.... The Home Depot plans to add a shop in Owensboro, Ky.... Borders will open this October in St. Peters,...

CLEARANCE ITEMS BOOST SALES, BUT COMPS RISE ONLY 2.8% IN JUNE.(retail trade, 2001)(Brief Article)(Statistical Data Included)
July 13, 2001... In an effort to clear out summer merchandise and get prepared for the back-to-school season, retailers increased promotional activity during June. The actions led to mixed results. Discount chains and wholesale clubs reported solid gains, with...

PEOPLE.(Walgreens Co. names David Bernauer chief executive)(Brief Article)
July 13, 2001... Walgreens named David Bernauer chief executive, effective Jan. 9, 2002. He will retain his title as president. Bernauer replaces Daniel Jorndt, who will remain chairman of the board. The move was announced to members of the board of directors...

SEARS EXITS COSMETICS, NIXES AVON DEAL.(Sears, Avons new product line deal cancelled)(Brief Article)
July 13, 2001... Beauty-products maker Avon got the pink slip from Sears this week before it even had a chance to showcase its new product line in the chain's stores. In an effort to improve the performance of its stores, Sears is exiting the skin care and...

WEBVAN FOLDS, BUT CONCEPT MAY LIVE ON.(HomeGrocer.com may be relaunched)(Brief Article)
July 13, 2001... So, is Webvan going to join the other e-grocer failures or will it be revived under a different moniker, say for instance, HomeGrocer.com, which Webvan bought in June 2000? The company ceased fulfilling orders and taking them this week in all...

CHARMING 'SHOPS' BIG, BUYS LANE BRYANT.(Charming Shoppes Inc. acquires Lane Bryant Inc.)(Brief Article)
July 13, 2001... Staking its claim on the plus-size market, Charming Shoppes is spending $335 million in cash and stock to purchase Lane Bryant, a subsidiary of The Limited with 653 stores. Charming Shoppes will operate Lane Bryant as a stand-alone unit and...

AutoZone.(TruckPro for sale)(Brief Article)
July 13, 2001... AutoZone is looking to dispose of its TruckPro subsidiary, which sells heavy-duty trunk parts at 49 stores in 15 states.

J.C. Penney.(Will close 50 underperforming stores)(Brief Article)
July 13, 2001... J.C. Penney is shuttering its location in the Gallery mall, located in Philadelphia. Penney plans to close roughly 50 underperforming stores this year.

Zany Brainy.(Will sell assets to Waterton Management)(Brief Article)
July 13, 2001... Zany Brainy will sell its assets to investment firm Waterton Management for $115 million. The specialty retailer will not close any of its 187 stores or lay off any employees.

Office Depot.(will purchase 4Sure.com )(Brief Article)
July 13, 2001... Office Depot will purchase 4Sure.com and the business of its two Web-based e-commerce units: Computers4Sure.com and Solutions4Sure.com.

Schottenatein Stores.(Bids for DSW Shoe Warehouse, Filene's Basement and Shonac Corp.)(Brief Article)
July 13, 2001... Schottenatein Stores, the majority owner of Value City Department Stores, bid $200 million to acquire the chain's DSW Shoe Warehouse, Filene's Basement and Shonac Corp. divisions.

Amazon.com.(free shipping promotion)(Brief Article)
July 13, 2001... Amazon.com put an end to its free shipping promotion.

NEW STORES NEW MARKETS.(Brief Article)
July 20, 2001... Cato is adding stores next Wednesday in Union City and Decatur, Ga.; Tray, Mich.; Murray, Ky.; Louisville, Ky.; and Bristol, Va...Bed Bath & Beyond added a stare in Greendale, Wis.... Ethan Allen expanded its shop in Altamonte Springs, Fla....

WILL TAX REFUNDS SPUR REBOUND? NRF, RETAILERS CERTAINLY HOPE SO.(Brief Article)
July 20, 2001... It's no secret that the economy is in trouble; that's old news. All one has to do is pick up a newspaper and read the business headlines. Corporate layoffs are frequent and retail sales, well, let's just say they are less than stellar. However,...

ALBERTSON'S WILL SHUTTER 165 STORES.(Brief Article)
July 20, 2001... In his first initiative since taking over Albertson's in April, chairman and chief executive Lawrence Johnston said the retailer will close about 165 underperforming stores in 25 states and eliminate 15% to 20% of managerial and administrative...

SEARS DIPS DEEP INTO RED NUMBERS IN 2Q.(Brief Article)
July 20, 2001... Sears reported a loss of $197 million in the second quarter, compared with earnings of $388 million in the prior-year period. Retail and related services revenues for the quarter ended June 30 were $7.8 billion, down 1.1% from $7.89 billion...

PEOPLE.(Brief Article)
July 20, 2001... Discovery Channel Stores named Jane Saltzman executive VP of merchandising. She most recently was senior VP of merchandising of now defunct eToys, a company she helped found.... Scott Nicholson was appointed operating group president of...

JO-ANN REDUCING CORPORATE WORK FORCE.(Jo-Ann Stores)(Brief Article)
July 20, 2001... Continuing to restructure its operations, Jo-Ann Stores will terminate 50 positions, the majority of which are located at the retailer's corporate headquarters. The specialty retailer is foregoing any new store growth for the remainder of the...

EAGLE FOOD NOT SELLING CHICAGO STORES.(Brief Article)
July 20, 2001... Contrary to reports in Crain's Chicago Business last week, Eagle Food Centers has no intention of selling any of its store locations in Chicago. An article in the publication stated that the 64-store chain had been in talks with Kroger and the...

SHOOTING, BOMBS, LAWSUIT AT HOME DEPOT.(Morrow, Ga.)(Brief Article)
July 20, 2001... It was a busy week, and mostly troubling, for The Home Depot. A former employee fatally shot two people--including his ex-girlfriend--and wounded one other at a store in Morrow, Ga. The gunman--who later killed himself after the police...

THIS WEEK'S RETAIL NEWS NUGGETS.(Brief Article)
July 20, 2001... May Department Stores will reportedly renovate its 430 stores to make them more accessible to disabled shoppers. A lawyer who sued the company says May agreed to lower the height of showcase tables to three feet and enlarge fitting rooms and...

NEW STORES, NEW MARKETS.(multiple topics)(Brief Article)
July 27, 2001... Bartell Drugs relocated its store in Lynnwood, Wash.... Wawa will open this fell in Newport News. Va.... Wawa will open its third shop in Omaha, Neb.... Staples adding a store in Columbus, Ohio, next summer. Cata Will open up there next...

WAL-MART TRIMS CORPORATE STAFF, BUYS DOT.COM UNIT, ADDS STORES.(Brief Article)(Statistical Data Included)
July 27, 2001... The big dog in the retail world could only avoid the slowing economy for so long. Despite posting stellar growth for the first half of the year--total sales up 12.9% and comps up 5.1%--Wal-Mart had to resort to tactics it hasn't employed a...

KRAUSE'S CLOSING 32 STORES AFTER FILING.(Krause's Furniture)(Brief Article)
July 27, 2001... Rivals of Krause's Furniture Portland, Ore.; Chicago; Dallas; and Houston should prepare for a decrease in foot traffic the next few weeks. Why? The retailer will conduct going-out-of-business sales at 32 showrooms in those cities in near...

FURRS CORPORATE BIG WIGS OUT OF A JOB.(Furrs Supermarkets closes corporate headquarters)(Brief Article)
July 27, 2001... "Our corporate headquarters will be permanently closed. All positions and jobs at this facility will be eliminated." That's the notice Furrs Supermarkets president Steve Mortenson posted explaining why the remaining 170 employees be laid off as...

PEOPLE.(multiple personnel changes)(Brief Article)
July 27, 2001... Ross Stores appointed Richard. White senior VP, CIO.... Shop At Homes appointed Thomas Merrihew executive VP of sales and merchandising, effective Aug. 13.... dELIA*s appointed Hilary Chasin executive VP of marketing.... James Pekarek was...

AERO KIDS CONCEPT NEVER TOOK FLIGHT.(Aeropostale closes Aero Kids concept)(Brief Article)
July 27, 2001... Less-than-stellar results have prompted Aeropostale to close down its Aero Kids concept, which operates seven stores in the Northeast, mainly in New York and New Jersey. The format, which is targeted to kids aged 6 to 12, had only been in...

MICHIGAN RETAILERS AVOID REBATE HYPTE.(June Michigan Retail Index report)(Brief Article)
July 27, 2001... Let it be known that Michigan, the Great Lakes State, is not one to jump on the bandwagon. As hundreds of retailers prepare to accommodate the 91 million Americans that will receive tax-rebate checks in the coming months, the majority of...

AMAZON.COM SLIMS 2Q LOSS, SIGNS DEALS.(second quarter financial results)(Brief Article)(Statistical Data Included)
July 27, 2001... Don't break out the champagne just yet. While Amazon.com is on its way to profitability (don't us to that) the company still posted a loss of $168 million in the second quarter. That compares with a loss of $317 million a year ago. Total...

THIS WEEK'S RETAIL NEWS NUGGETS.(multiple topics)(Brief Article)
July 27, 2001... Nash Finch wants to buy 14 supermarkets from U Save Foods.... Saks Fifth Avenue will close its store in White Plains, N.Y., and sell the site to Fortunoff.... Syms spent $5.6 million to buy Strawberry Fields Shopping Center, located in West...