Chain Store Age Executive Fax articles from July 2003

Chain Store Age Executive Fax archives from July 2003

New stores, new markets.(7-Eleven opened its 25,000th convenience store in greater downtown area of Chicago; notes other news)(Brief Article)
July 11, 2003... 7-Eleven opened its 25,000th convenience store in the greater downtown area of Chicago this week.... Cato added locations in Houma, La.; Casa Grande, Ariz.; Grand Prairie, Texas; Bradenton, Fla.; Memphis, Tenn.; and Sallisaw, Okla.... J.C....

Promotions boost June results, sales increase 2.4% for month.
July 11, 2003... An increase in promotional activity at the nation's retail stores, a last resort to clear leftover spring merchandise, spurred consumers to shop during the second half of June. Typically the second-most important month of the year, retail...

Good Guys.(Names new president and COO)(Brief Article)
July 11, 2003... Good Guys appointed Thomas Herman, one of its directors, as its new president and COO. Also, Michael Mohan was named VP of merchandising....

Parisian.(Brief Article)
July 11, 2003... Parisian, a division of Saks, Inc.'s department store group, named Gary Yiatchos senior VP of marketing. He has more than 30 years of retail experience and most recently served with Federated Department Stores, Inc.

Fleming finalizes purchase by C&S.(Fleming Cos and C&S Wholesale Grocers)(Brief Article)
July 11, 2003... C&S Wholesale Grocers signed a definitive agreement this week with beleaguered distributor Fleming Cos. to acquire nearly all of the assets of its business for $400 million. C&S did not acquire the accounts receivable and certain other assets...

Longs drug offers severance deals.(Longs Drug Stores)(Brief Article)
July 11, 2003... Store managers at Longs Drug Stores were given the option of quitting their jobs in exchange for financial incentives, health insurance and outplacement services. The voluntary separation program is a cost-cutting strategy extended to the 463...

New concepts on tap at ShopKo, Kroger.(Brief Article)
July 11, 2003... With the majority of the population approaching their golden years, ShopKo says it will create a freestanding drug store concept to capitalize on the expanding usage of prescription drugs by baby boomers. ShopKo is currently looking at two...

'Reference' check for Forever 21.(Forever 21 buys 14 stores and remaining inventory from rival Reference Co)(Brief Article)
July 11, 2003... Young women's apparel retailer Forever 21 spent $3.5 million to acquire 14 stores and the remaining inventory from rival Reference Co., which has been under bankruptcy reorganization since January. Eleven of the 14 acquired stores are located...

Luxury brands flourishing in Japan.(Brief Article)
July 11, 2003... The world's second-biggest economy apparently loves paying top dollar for No. 1 brands. Despite a slight recession, Japanese consumers are purchasing global luxury brands, such as Louis Vuitton, Prada, Bulgari, Hermes, Polo Ralph Lauren and...

This week's retail news nuggets.(Wal-Mart canceled proposed test of radio-frequency identification (RFID) technology with partner Gillette)(Brief Article)
July 11, 2003... Wal-Mart canceled the proposed test of radio-frequency identification (RFID) technology with partner Gillette in its store in Brockton, Mass. The retailer wants to focus on installing the service in its warehouses and distribution centers...

New stores, new markets.(includes multiple listings of new store openings)(Brief Article)
July 18, 2003... Christopher & Banks just opened at Columbia Mall in Bloomsburg, Pa. It will open next month at Eastfield Mall in Springfield, Mass.... Best Buy opens its second store in Manhattan this weekend at 86th Street & Lexington.... Bed Bath & Beyond...

Shoppers loosen purse strings as more buy, not browse, goods.(according to survey from WSL Marketing)(Brief Article)
July 18, 2003... Window-shopping is not a thing of the past, but a recent survey has discovered that 51% of shoppers are doing less browsing and more real shopping. Ironically, women, long viewed as the powerhouse of retail spending, are holding back on...

Sears sells credit unit to Citigroup.(Brief Article)
July 18, 2003... At last, Sears has sold its credit division. Citigroup agreed this week to purchase the entire credit and financial-products business, including $29 billion in receivables, for $32 billion. Sears will get another $3 billion from its reserves in...

Wal-Mart closes price 1 car concept.(Brief Article)
July 18, 2003... Wal-Mart didn't get stuck with a lemon, but it has pulled the plug on its used-car business in Texas. The retailer and Asbury Automotive Group reached a mutual agreement to end the Price 1 program, which had been operating at four stores in...

Longs Drug Stores named Rick Dreiling as executive VP, COO.(Brief Article)
July 18, 2003... Longs Drug Stores named Rick Dreiling as executive VP, COO. He most recently served as executive VP of marketing, manufacturing and distribution of Safeway....

Food Lion.(hires Tim McDonough)(Brief Article)
July 18, 2003... Food Lion named Tim McDonough VP of organizational development and corporate recruiting....

The Nautilus Group.(appoints Gregg Hamman as CEO, president)(Brief Article)
July 18, 2003... The Nautilus Group named Gregg Hamman as its new president and CEO. Brian Cook will continue as chairman....

Mary Markman was promoted to executive VP of Macy's East.(Brief Article)
July 18, 2003... Mary Markman was promoted to executive VP of Macy's East. She succeeds Eric Salus, who was promoted to president of The Bon Marche, a sister company at Federated.

Retail purchases bring junk e-mails.(Brief Article)
July 18, 2003... A recent study of Web buyers discovered that 81% of those surveyed report being spammed by the retailers from which they bought goods on-line. The remaining 19% say they did not receive this type of junk e-mail, according to a survey conducted...

Kroger opening 18 Starbucks kiosks.(Brief Article)
July 18, 2003... Viewing Starbucks coffee shops as "destination" locations, Kroger says it will open Starbucks kiosks within 18 of its stores in Ohio and Michigan. The in-store shops will be operated by Kroger employees.

FMI report cites top loss concerns.(Food Marketing Institute report on shoplifting, employee theft)(Brief Article)
July 18, 2003... Shoplifting, check fraud and employee theft continue to weigh down operating results at the nation's food retailers and wholesalers. In its latest study, the Food Marketing Institute (FMI) reported that 227,860 shoplifters were apprehended in...

Officemax acquired by Boise Cascade.(Brief Article)
July 18, 2003... Boise Cascade is spending roughly $1.15 billion in cash and stock to acquire OfficeMax, the third-largest retailer of office-supply products, behind Staples and Office Depot. The purchase price, at $9 per fully diluted share, represents a 25%...

Kmart goes to court against ex-CEO.(former CEO Charles Conaway seeks $19.6 million severance claim)(Brief Article)
July 18, 2003... Kmart hopes to invalidate a $19.6 million severance claim sought by its former CEO Charles Conaway, who ran the company from 2000 to 2002. According to an article in the Detroit Free Press, Conaway is asking for $4 million in cash, forgiveness...

This week's retail news nuggets.(Brief Article)
July 18, 2003... Payless ShoeSource debuted its Payless Express format at an H.E. Butt supermarket in Laredo, Texas.... Buy.com will launch its own music download service for Windows-based computers.... Starbucks completed the acquisition of Seattle Coffee...

New stores, new markets.(Barnes & Noble will open next June at Altamonte Mall in Orlando, FL; notes other news)(Brief Article)
July 25, 2003... Barnes & Noble opens next June at Altamonte Mall in Orlando, Fla.... Look for Hollywood Video's second location in Waterbury, Conn., to open this October. West Marine recently added stores in Bonita Springs and Panama City, Fla., and in...

Economy poised for comeback, indicators point to recovery.(Brief Article)
July 25, 2003... Has unemployment reached its peak in America? Will the second half 2003 be better than the first? At the moment, it appears the answer to both of those questions is yes. New jobless claims decreased by 29,000 to 386,000 in the week ended July...

As school bells ring, so will registers.(back-to-school spending study)(Brief Article)
July 25, 2003... Consumers will spend more than $14 billion on back-to-school merchandise this year, with the average family with school-aged children spending $450.76. That compares with $441.60 in 2002, according to a recent study by the National Retail...

Dollar general testing larger format.(Brief Article)
July 25, 2003... Dollar General is testing a new format to see if bigger really is better. The retailer remodeled a location in Hendersonville, Tenn., that now encompasses a 17,000-sq.-ft. format, according to a report by Deutsche Bank-Equity Research. In the...

Kohl's has appointed Wesley McDonald as its new VP, CFO.(Brief Article)
July 25, 2003... Kohl's has appointed Wesley McDonald as its new VP, CFO. He replaces Patti Johnson, who left in April to assume a similar role at Old Navy. McDonald most recently served as CFO of Abercrombie & Fitch (A&F). Seth Johnson, A&F's COO, who...

Gap, Inc.(Chuck Crovitz resigns as executive VP, chief supply chain officer)(Brief Article)
July 25, 2003... Chuck Crovitz resigned as executive VP, chief supply chain officer of Gap, Inc. Paul Pressler, Gap CEO, will assume Crovitz's duties in the interim.

Albertson.(Peter Lynch resigns as president and COO of Albertson's)(Brief Article)
July 25, 2003... Peter Lynch resigned as president and COO of Albertson's. Larry Johnston, chairman and CEO, will assume Lynch's duties.

CEO of Wal-Mart Europe has retired.(Brief Article)
July 25, 2003... Dave Ferguson retired last week as president and CEO of Wal-Mart Stores, Inc.'s European operations. He joined the company in 1995 and later headed up Wal-Mart Canada. Ferguson became the head of Wal-Mart Europe in 2000. Wal-Mart does not plan...

Big apple flair set for Meijer stores.(Brief Article)
July 25, 2003... Meijer has reportedly hired New York architect David Rockwell to help with the redesign of its stores. Rockwell is best known for designing themed restaurants, modernistic retail and high-end hotels. Meijer operates 160 stores in five...

Frank's nursery to drop 'crafts' aspect.(Frank's Nursery & Crafts will begin phasing in new image and name)(Brief Article)
July 25, 2003... Leaving the crafts aspect of its business to specialty retailers like Michaels Stores and Jo-Ann Stores, Frank's Nursery & Crafts will begin phasing in its new image and name, Frank's Nursery, later this year. After closing 47 stores while in...

False advertising alleged at Kohl's.(Brief Article)
July 25, 2003... Kohl's has come under fire from the attorney general's office in Boston for allegedly falsely advertising prices in circulars and in stores in Massachusetts, according to an article in this week's Boston Globe. A survey conducted by a local...

Spiegel to shutter two facilities.(Spiegel Group will close one of its distribution centers and one customer contact center)(Brief Article)
July 25, 2003... The Spiegel Group will close one of its distribution centers and one customer contact center, a move that will affect roughly 640 employees. Spiegel will shutter its customer contact center in Rapid City, S.D., by the end of December. The...

This week's retail news nuggets.(Tiffany & Co. mayy invest additional $9 mil in Temple St. Clair, upscale jewelry boutique; notes other news)(Brief Article)
July 25, 2003... Tiffany & Co. will reportedly invest an additional $9 million in Temple St. Clair, an upscale jewelry boutique. Tiffany invested $4 million in the concept last year.... Penn Traffic, which filed for bankruptcy in late May, may be looking to...