Chain Store Age Executive Fax articles from July 2004

Chain Store Age Executive Fax archives from July 2004

New stores, new markets.(meshed briefs)(Brief Article)
July 2, 2004... Dollar General opened in Clovis, N.M., its 7,000th store.... Ethan Allen just cut the ribbon on stores at the Mall at Millenia in Orlando, Fla., and at Avon (Ohio) Commons Mall.... OfficeMax will take over half of a former Giant Eagle site in...

A 'grand' move: sears acquires 54 Kmarts for off-mall growth.(Brief Article)
July 2, 2004... In a deal that kick-starts its store expansion strategy after years of near stagnation, Sears is spending roughly $620 million in cash to acquire ownership or leasehold interests in 54 freestanding Kmart stores. The deal comes less than a month...

Mall-based stores losing market share.(Brief Article)
July 2, 2004... It's no wonder that traditional retailers such as Sears and J.C. Penney are expanding their freestanding store base (see above). According to a study conducted by New Canaan, Conn.-based Customer Growth Partners, mall-based retailers now...

Consumer spending hit a high in May.(Brief Article)
July 2, 2004... Consumer spending rose 1% in May, marking the biggest boost in more than two years, according to the Commerce Department. That compares with a mere 0.2% gain in April. The May increase was the largest since October 2001. Economists predicted a...

Paula Damaso was promoted to executive VP of merchandising at Too.(People In The News)(promotions, resignations, vice-president)(Brief Article)
July 2, 2004... Paula Damaso was promoted to executive VP of merchandising at Too. The chain also noted that Lece Lohr resigned as senior VP, general merchandise manager of sportswear. She is said to have accepted a position with a women's wear specialty...

Kohl's promoted Jon Nordeen to executive VP, of planning and allocation.(People In The News)(promotions, vice-president)(Brief Article)
July 2, 2004... Kohl's promoted Jon Nordeen to executive VP of planning and allocation. He previously served as senior VP, CIO.

Yankee Candle Co. announced the resignation of Gail Flood.(People In The News)(Brief Article)
July 2, 2004... Yankee Candle Co. announced the resignation of Gail Flood, who served as senior VP of retail.

The children's place elected Robert Fisch to its board of directors.(People In The News)(Children's Place Retail Stores Inc)(Brief Article)
July 2, 2004... The Children's Place elected Robert Fisch to its board of directors. He currently serves as president and CEO of 185-store rue21. Fisch also was appointed to the board's audit committee.

Execs come and go at Friedman's.(A.A. Friedman Company Inc.)(Executives)(Brief Article)
July 2, 2004... Doug Anderson resigned as president and COO of jewelry retailer Friedman's, which is currently being investigated by the Justice Department and the Securities and Exchange Commission. Sam Cusano, who took on the role of CEO just last week, will...

Amazon wants to end toys "R" us tie-in.(Brief Article)
July 2, 2004... Amazon.com asked a New Jersey Superior Court judge this week to terminate its partnership with Toysrus.com. The move came one month after a "he said/she said" argument broke out between the two parties regarding who was in violation of the...

Wal-mart, rite aid settle billing claims.(Brief Article)
July 2, 2004... Wal-Mart and Rite Aid each agreed to settle allegations that they submitted false prescription claims to government health-insurance programs. Under terms of the deal, Rite Aid will pay $5.6 million to the U.S. government and an additional $1.4...

Visa 'verifies' increased e-commerce.(Brief Article)
July 2, 2004... Visa cards accounted for $22.3 billion in e-commerce spending during the first quarter of 2004, an increase of 52% over the same period in 2003. The company attributed the growth in part to its on-line security program Verified by Visa. In...

This week's retail news nuggets.(meshed briefs)(Brief Article)
July 2, 2004... Barneys New York has enlisted investment banking firms Morgan Stanley and Peter J. Solomon Co. as financial advisors. Howard Socol, chairman and CEO of Barneys, alluded that the retailer may be looking to open flagship stores in select markets....

New stores, new markets.(Brief Article)
July 9, 2004... The Home Depot will open at Cox Creek shopping center in Florence, Ala.... Cache added stores at Alderwood Mall in Lynnwood, Wash., and The Oaks Mall in Gainesville, Fla.... Great Western Flooring leased space at Kensington Center in...

With discount sales hampered, June comps increase by just 2.9%.(Illustration)
July 9, 2004... Discount retailers were uncharacteristically average in the month of June. The usual powerhouse sector recorded a 1.5% increase in comps, its lowest result since June 2003, when sales rose 2.4%. Overall, chain stores reported an industrywide...

Eddie Bauer has hired Kathy Boyer as senior VP, chief merchandising officer.(People In The News)(vice president)(Brief Article)
July 9, 2004... Eddie Bauer has hired Kathy Boyer as senior VP, chief merchandising officer. She most recently was executive VP at J. Crew....

Pep Boys.(Pep Boys-Manny, Moe and Jack)(Larry Stevenson appointed)(Brief Article)
July 9, 2004... Pep Boys gave CEO Larry Stevenson the added title of chairman, replacing Bernard Korman, effective in September....

A.C. Moore Arts & Crafts.(People In The News)(Michael Joyce elected)(Brief Article)
July 9, 2004... A.C. Moore Arts & Crafts elected Michael Joyce to its board. He recently retired from Deloitte & Touche....

Michaels Stores.(People In The News)(Ron Staffieri steps down)(Brief Article)
July 9, 2004... Ron Staffieri will step down as president of Michaels Stores at the end of August. The company also extended the employment contract of CEO/president Michael Rouleau through 2008.

Kroger workers reach Accord.(Brief Article)
July 9, 2004... The Kroger Co. averted a labor discord in the Southeast with new four-year agreement with the United Food and Commercial Workers Local Union 1995. The new deal covers some 9,500 Kroger employees in eastern Tennessee, southern Kentucky and...

Genesco acquires Cap Connection.(Genesco Canada Inc.)(Brief Article)
July 9, 2004... Expanding its operations into Canada, Genesco will buy 17 Cap Connection stores. The stores are located in Alberta, British Columbia and Ontario, Canada. The deal will expand Genesco's Hat World and Lids businesses up north.

Former Footstar CEO gets settlement.(Mickey Robinson, Chief Executive Officer)(Brief Article)
July 9, 2004... Mickey Robinson, the former Footstar chairman and chief executive who was terminated from his post last September, will receive a two-part settlement that amounts to $5 million. Under terms of the deal, Robinson will receive an initial payment...

Pace of job growth declines in June.(Brief Article)
July 9, 2004... Job growth slowed down in June, with only half of the jobs expected to materialize actually doing so. While analysts had forecast some 250,000 new jobs, only 112,000 occurred, according to Labor Department statistics. The figures may have...

Wal-Mart appeals sex-discrimination suit.(Wal-Mart Stores Inc.)(Brief Article)
July 9, 2004... Wal-Mart asked a federal appeals court this week to review the approval of a class-action status for a sex-discrimination lawsuit that was brought up last month. Reported to be the largest civil rights class action case in U.S. history, the...

Home improvement a concern for women.(Brief Article)
July 9, 2004... Home improvement retailers take note: 85% of women have been, are currently, or expect to be solely responsible for maintaining a home, according to a survey of 603 women homeowners. The study, which was commissioned by Sears, also found that...

New stores, new markets.(Brief Article)
July 16, 2004... Barnes & Noble will open next March in Canton, Conn., at The Shoppes at Farmington Valley. In May, the chain will open at Riverside Square Mall in Hackensack, N.J.... Kidz Kloset, a resale children's apparel store, has opened its second...

Blending of retail lines goes on; Albertson's, Kroger add items.(Brief Article)
July 16, 2004... Every day is dollar day at Albertson's, which, like most retail chains, continues to update its merchandise mix as part of its efforts to better compete with Wal-Mart. After a year of testing, Albertson's has completed the rollout of its new...

POS application software sales grow.(Brief Article)
July 16, 2004... Within roughly three years, global shipments of POS application software will approach the $1 billion mark, according to a report by Natick, Mass.-based Venture Development Corp. (VDC). That figure is based on a 9.8% compound annual growth rate...

Spending index hints at softer sales.(Brief Article)
July 16, 2004... A consumer-spending index fell sharply in May, pointing to a decline in consumer spending growth in the months ahead. Declining real wages, waning tax cuts and falling home prices contributed to the slower growth, according to a report by...

Charming Shoppes.(People In The News)(appointments)(Brief Article)
July 16, 2004... Charming Shoppes named Steven Wishner senior VP, with responsibility for treasury, investor relations and business development.

Tractor Supply Co.(People In The News)(Brief Article)
July 16, 2004... Jim Wright will take over as CEO of Tractor Supply Co. this October. He currently serves as president. Joe Scarlett, the current CEO, will continue as chairman.

Dollar Tree.(People In The News)(Brief Article)
July 16, 2004... Dollar Tree appointed Kent Kleeberger as its new CFO.

RadioShack.(People In The News)(Brief Article)
July 16, 2004... RadioShack appointed David Johnson, a 32-year company veteran, to the post of interim CFO, effective July 23. He currently serves as senior VP, corporate controller.

Friedman.(People In The News)(Brief Article)
July 16, 2004... Steve Lang resigned as senior VP of merchandising at Friedman's. Also, Friedman's named Eric Kovats, formerly of Jo-Ann Stores, as executive VP, stores.

Sears seeks new retail president.(Brief Article)
July 16, 2004... Goodbye president of full-line stores; hello president of retail. Looking to fill the gap left by Mark Cosby, who resigned as president of full-line stores, Sears has begun an external search for a new president of retail, a position that will...

Setback for RFID privacy standards.(Brief Article)
July 16, 2004... The California State Assembly Committee on Business and Professions this week defeated a bill that would have set privacy standards on the use of RFID technology in the state. In an 8-0 vote, the committee agreed with opponents of the bill that...

Best Buy, Accenture expand pairing.(Brief Article)
July 16, 2004... Further extending their partnership, Best Buy signed a seven-year deal with Accenture for consulting and outsourcing services, effective this week. Earlier this year, the consumer electronics chain said it would reduce its in-house IT staff by...

Borders boosts its stake in Paperchase.(Brief Article)
July 16, 2004... In a move that makes it the principal owner, Borders Group boosted its 15% equity stake in Paperchase Products Ltd. to 97%. Paperchase operates 61 locations, 28 of which are within Borders Books & Music, and Books etc. stores throughout the...

This week's retail news nuggets.(Brief Article)
July 16, 2004... One month after filing for Chapter 11, Kitchen Etc. has begun closing its 17 stores in nine Eastern states. SB Capital is conducting the store-closing sales.... CVS will open a 437,000-sq.-ft. distribution center in Florida's Indian River...

New stores, new markets.(Brief Article)
July 23, 2004... Kaufmann's will set up shop at Pittsburgh Mills, set to open next July.... Stater Bros. just cut the ribbon on a store at Hidden Valley Plaza in Corona, Calif.... Wal-Mart will open at Eastgate Plaza next year, its third store in Clark...

Behind in the count: sporting goods chains revise earnings.(Hibbett Sporting Goods Inc.)(Sports Authority Inc.)(Brief Article)
July 23, 2004... The Sports Authority and Hibbett Sporting Goods are each in need of a pinch hitter. The two retailers reported this week that their second-quarter earnings will fall short of previous estimates. The Sports Authority, which merged with Gart...

Wal-Mart tries apparel on line again.(Online shopping)(Brief Article)
July 23, 2004... Take two for Wal-Mart in the on-line apparel industry. Roughly three years after the discount chain ceased selling apparel via its Web site, Wal-Mart is once again testing the waters in time for the back-to-school season. The company is selling...

Kroger continues to add fuel centers.(Brief Article)
July 23, 2004... Kroger believes in the combination of gas and groceries. The retailer opened its 500th fuel center this week at its supermarket in Montrose, Colo., the same town in which its first fuel center was opened in 1998. Kroger currently has fuel...

Sears.(People In The News)(Brief Article)
July 23, 2004... Sears named Catherine David to the position of VP, general manager of its Great Indoors format. She replaces Jeff Jones, who was promoted to executive VP of merchandising in April....

Illuminations.(People In The News)
July 23, 2004... Specialty chain Illuminations gave COO Brian Laliberte the additional title of president....

Larry's Markets.(People In The News)(Brief Article)
July 23, 2004... Larry's Markets appointed Barry MacKechnie as president, a new position for the grocer. He comes from RevX.net, where he served as CEO for the past two years....

99 Cents Only Stores.(People In The News)(Brief Article)
July 23, 2004... 99 Cents Only Stores elected Tom Unterman, founder and managing partner of equity and venture capital investment firm Rustic Canyon Partners, to its board....

Big Lots.(People In The News)(Brief Article)
July 23, 2004... Albert Bell will step down as vice chairman, chief administrative officer and a director of Big Lots, effective Aug. 17....

The Home Depot.(People In The News)(Brief Article)
July 23, 2004... The Home Depot elected Lawrence Johnston, chairman, CEO and president of Albertson's, and Laban Jackson, chairman and CEO of Clear Creek Properties, to its board of directors.

Eckerd cuts staff as new owner nears.(Eckerd Corp.)(Brief Article)
July 23, 2004... Beginning next month, Eckerd will give roughly 1,400 management and support employees the pink slip as it changes owners. It is unclear what percentage of overall corporate Eckerd employees that figure represents and also how many will be...

Back-to-school sales gets high marks.(National Retail Federation surveys)(Brief Article)
July 23, 2004... Apparel retailers won't be the only ones experiencing an increase in sales as a result of the back-to-school season. According to a recent survey from the National Retail Federation (NRF), conducted by BIGresearch, almost half of consumers...

Martha's brand suffers after ruling.(Brief Article)
July 23, 2004... Brands that are invested in a human being can become rather fragile when bad news strikes. Case in point: Martha Stewart. Following her sentencing on conspiracy, obstruction of justice and making false statements to investigators last week, a...

Sears, Linens 'n Things see earnings dip.(Brief Article)
July 23, 2004... Sears reported earnings of $53 million in the second quarter ended July 3, down from $309 million in earnings the retailer recorded in the prior-year period. Poor spring clothing sales, overhang of its apparel assortment and inventory issues...

This week's retail news nuggets.(Breuners Home Furnishings Corp.)(Brief Article)
July 23, 2004... Breuner's Home Furnishings Corp. will close its 47 stores under its three banners: Huffman Koos, Breuner's Home Furnishings and Goods.... Hudson's Bay Co. will not sell its Zellers division to Target Corp., as speculation suggested.......

New stores, new markets.(Buildings and facilities)(Brief Article)
July 30, 2004... Neiman Marcus announced plans to open its 39th store at SouthPark in Charlotte, N.C., in the fall of 2006.... PETsMART will become the second anchor store at Village Oaks Shopping Center in Pensacola, Fla., when it opens in the fall.... Target...

With former officials in court, Ahold points to new direction.(Brief Article)
July 30, 2004... In a New York City court, two former executives of Ahold's U.S. Foodservice division pleaded not guilty to charges related to last year's accounting irregularities that led to an $800 million overstatement in profits in 2002-2003. Michael...

Saks luxury division hints at changes.(Reorganization and restructuring)(Brief Article)
July 30, 2004... Saks Fifth Avenue Enterprises, the luxury division of Saks, Inc., is expected to overhaul its stores as part of an effort to get "back to its roots." The move may include a large number of store closings, according to a report in the New York...

Kmart real estate gets high valuation.(securities)(Brief Article)
July 30, 2004... An amazing thing happened to Kmart Holding Corp.'s stock this week: It rose 14% to $73.24 in a single day. The dramatic rise followed the release of a research report from Deutsche Bank, which suggested that the company's real estate holdings...

The Yankee Candle Co.(People In The News)(Harlan Kent)(Brief Article)
July 30, 2004... The Yankee Candle Co. promoted Harlan Kent to president. Previously, he had led the company's wholesale division.

FreshDirect.(People In The News)(Richard Braddock )(Brief Article)
July 30, 2004... FreshDirect appointed Richard Braddock to the company's board of directors. He previously served as priceline.com chairman and is currently chairman of MidOcean Partners, a private equity firm.

Stage Stores.(People In The News)(Cynthia Murray )(Brief Article)
July 30, 2004... Stage Stores appointed Cynthia Murray to the position of executive VP, general merchandise manager, effective Aug. 2. She will replace Vivian McDonald, who will be retiring after about 20 years with the company. Murray is coming to Stage Stores...

Gap Inc.(People In The News)(Karyn Hillman promoted)(Brief Article)
July 30, 2004... Gap Inc. promoted Karyn Hillman to the position of senior VP, Banana Republic merchandising. She will oversee men's and women's merchandising for Banana Republic.

Cabella.(People In The News)(appointments )(Brief Article)
July 30, 2004... Cabella's appointed Reuben Mark and John Gottschalk to its board of directors. Mark is chairman and CEO of Colgate Palmolive. Gottschalk is CEO of the Omaha World-Herald Co.

A strong week of sales reported.(Brief Article)
July 30, 2004... Warm weather and back-to-school shopping boosted same-store sales at chain stores in the United States for the week ended July 24, according to the International Council of Shopping Centers and UBS. Year-over-year sales increased 3.8% for the...

Self service: seen as a $1 trillion trend.(IHL Consulting Group research)(Consumer spending)(Brief Article)
July 30, 2004... North American consumers spent nearly $128 billion at self-checkout lanes, ticketing kiosks and other self-service machines in 2003, an increase of 80% from the previous year, reports a new research study conducted by IHL Consulting Group....

Boise cascade takes on retail full time.(mergers and acquisitions)(Brief Article)
July 30, 2004... Boise Cascade Corp., which bought OfficeMax last year for more than $1 billion, is no longer a forest products and timber business. It's a retailer. Upon the completion of a $3.7 billion sale of its timberland assets to a private equity firm,...

Payless wants out of parade business.(Parade stores unloading planned)(Brief Article)
July 30, 2004... Payless ShoeSource is looking to unload its 181 Parade stores by the end of the year. A number of alternatives are on the table, according to the Topeka, Kan.-based chain of more than 5,000 stores. "Exiting from Parade will enable us to sharpen...

This week's retail news nuggets.(Brief Article)
July 30, 2004... The Securities and Exchange Commission revoked Spiegel's stock registration, putting an end to trading of the company's shares. The Downers Grove, Ill.-based retailer filed for Chapter 11 bankruptcy protection in March 2003.... Publix Super...