Chain Store Age Executive Fax articles from June 2002

Chain Store Age Executive Fax archives from June 2002

Factory 2-U Stores. (New Stores New Markets).(Brief Article)
June 28, 2002... TJX divisions Marshalls and A.J. Wright have leased space at Washington Square Shopping Center in Chicago. Factory 2-U Stores, Skechera and Funcoland also will be among the new tenants.

Stater Bros. (New Stores New Markets).(Brief Article)
June 28, 2002... Stater Bros. will add a store in Corona, Calif.; in spring 2003.

Marshall Field. (New Stores New Markets).(Brief Article)
June 28, 2002... Borders will open this November in downtown Milwaukee in a former Marshall Field's site on Wisconsin Avenue.

Barnes & Noble. (New Stores New Markets).(Brief Article)
June 28, 2002... Barnes & Noble opens July 10 in Tracy (Calif.) Mall. It will also open that day at Smithfield (R.I.) Crossing.

Cato. (New Stores New Markets).(five new stores)(Brief Article)
June 28, 2002... Cato is opening stores in Fulton, Mo.; Pflugerville, Texas; Fuguay-Varina N.C.; Kingsport; Tenn.; and Harlan. Ky., on July 17.

Best Buy. (New Stores New Markets).(Brief Article)
June 28, 2002... Best Buy will open a name-brand store near Tacoma, Wash., this fall. It also plans to open in Anderson: S.C.

Galyan. (New Stores New Markets).(Brief Article)
June 28, 2002... Galyan's is adding a two-story floor in Richmond, Va., at Stony Point Fashion Park.

Joseph Abboud. (New Stores New Markets).(Brief Article)
June 28, 2002... Joseph Abboud will open a store at the Mohegan Sun casino in Connecticut this summer.

Shoppers Food Warehouse. (New Stores New Markets).(Brief Article)
June 28, 2002... Shoppers Food Warehouse opened a shop in Wheaton, Md.

Dania Furniture. (New Stores New Markets).(Brief Article)
June 28, 2002... Dania Furniture will open at Hoffman Plaza in Hoffman Estates Ill.

SEC indicts former Rite Aid execs, earnings return to black in 1Q.(Brief Article)(Statistical Data Included)
June 28, 2002... There was good news and bad news for Rite Aid this week. First, the former: Rite Aid posted earnings of $2.6 million in the first quarter ended June 1, compared with a loss of $211.1 million in the prior-year period. This year's results...

Mr. Monopoly coming to Atlantic City.(Gordon Group plans onopoly-themed retail-and-entertainment complex)(Brief Article)
June 28, 2002... Do not pass "Go." Do not collect $200. Gordon Group Holdings wall transform the historic Million Dollar Pin. on the boardwalk in Atlantic City N.J., into a Monopoly-themed retail-and-entertainment complex. The popular board game is based on...

Footstar ends Stein Mart partnership.(Brief Article)
June 28, 2002... Footstar will terminate two unprofitable licensed-footwear relationships it acquired as part of its February 2001 purchase of J. Baker's footwear business. The company's Meldisco division will cease operating the footwear departments in Stein...

May Department Stores. (People in the News).(Brief Article)
June 28, 2002... William Gingerich was elected chairman of the Filene's division of May Department Stores effective Sept. 1. He will replace J. Kent McHose, who is retiring. Gingerich has served with May since 1984, most recently as chairman of its Kaufmann's...

Zoles. (People in the News).(names chief executive)(Brief Article)
June 28, 2002... Mary Forte was named chief executive of Zales, replacing Robert DiNicola, who will step down on July 31. DiNicola will continue to serve as non-executive chairman of the board. Forte joined Zales in 1994 and most recently served as executive...

PETsMart. (People in the News).(Brief Article)
June 28, 2002... PETsMART named Timothy Kullman senior VP and CFO, effective July 8. He replaces Thomas Liston, who has served as interim CFO since December.

Rite Aid. (People in the News).(Brief Article)
June 28, 2002... Rite Aid named John Standley senior executive VP, chief administration officer; Chris Hall executive VP, CFO; and Robert Sari senior VP, general counsel and secretary.

Guitar Center to buy M&M Music.(Brief Article)
June 28, 2002... American Music, the band instruments division of Guitar Center, is spending $6.8 million to acquire the stock of M&M Music, a five-store band instrument retailer based in Valdosta, Ga. The M&M stores, which currently serve more than 200...

SuperValu exec intently cooked books.(false statement on cost of goods)(Brief Article)
June 28, 2002... A former SuperValu executive deliberately made false statements regarding the cost of goods sold in its pharmacy departments. As a result, the retailer says it will record an after-tax charge of roughly $20 million, either in the first...

Kmart seeks more control in probe.(Brief Article)
June 28, 2002... Kmart asked a federal court judge to give it broader powers in its internal probe of former executives, including the power to demand documents and compel testimony, and continue conducting discovery and examinations without court approval....

Judge dismisses case vs. Blockbuster.(Brief Article)
June 28, 2002... The three independent video stores that claimed Blockbuster tried to drive them out of business had their lawsuit thrown out this week by U.S. District Judge Edward Prado. The trio of stores claimed that Blockbuster teamed with a number of...

Buy.com. (This Week's Retail News Nuggets).(cuts book prices by 10%)(Brief Article)
June 28, 2002... Buy.com cut prices on books by 10% in an effort to win share from Amazon.com. Meanwhile, Barnes & Noble.com is offering a 40% discount on its top 10 bestsellers. Lastly, Amazon debuted its Canadian Web site this week, located at Amazon.ca.

Starbucks. (This Week's Retail News Nuggets).(to operate stores in Japan)(Brief Article)
June 28, 2002... Starbucks expects to have 1,000 stores in Japan by the end of 2007. Chairman Howard Schultz is also exploring the idea of building roasting facilities in Asia.

Mattress World. (This Week's Retail News Nuggets).(to acquire Bedding Experts)(Brief Article)
June 28, 2002... Mattress World is spending an undisclosed sum to acquire 58-store chain Bedding Experts. The stores will continue to operate under the Bedding Experts banner.

Federated Department Stores. (This Week's Retail News Nuggets).(sells $1.2 billion of Fingerhut receivables)(Brief Article)
June 28, 2002... Federated Department Stores sold $1.2 billion of Fingerhut receivables to CompuCredit Corp. The transaction also includes the assumption of $450 million in receivables-backed debt that has been issued by the Fingerhut Master Trust.

Weingarten Realty Investors'. (This Week's Retail News Nuggets).(joint venture business acquires Westminster Plaza)(Brief Article)
June 28, 2002... Weingarten Realty Investors' joint venture business, Miller-Weingarten, has completed the acquisition of Westminster (Colo.) Plaza.

New stores, new markets.(Brief Article)
June 21, 2002... Fashion Bug, Catherine's and Bath & Body Works have signed on as tenants of Valparaiso (Ind.) Market place.... Belk and Bass Pro shops will anchor Destin (Fla.) Commons, an open-air shopping center set to open in August 2003. Other tenants...

Brand-name goods are top draw, but loyal shoppers are unknown.(Grocery Manufacturers of America survey results)(Brief Article)(Polling Data)
June 21, 2002... Think the average American consumer would rather buy a no-frills bag of potato chips as opposed to Lays? Think again. A study by the Grocery Manufacturers of America discovered that consumers are twice as likely to purchase a name-brand...

Visa increasing reimbursement fees.(Brief Article)(Statistical Data Included)
June 21, 2002... Visa U.S.A. says it will increase its credit-card interchange reimbursement fees by about 4 cents per transaction. The hike comes roughly one week after the U.S. Supreme Court rejected Visa's appeal in the antitrust case in which retailers...

Russia: Wal-Mart's next expansion plan?(Brief Article)
June 21, 2002... Rumors are coming in that Wal-Mart is interested in acquiring all or a majority interest of Russian supermarket chain ZAO Promyshlenno-Finansovaya Kompaniya BIN, which operates 31 stores across Moscow. While the discounter has declined to...

Circuit City elected its CEO Alan McCollough. (People in the News).(chief executive officer)(Brief Article)
June 21, 2002... Circuit City elected its CEO Alan McCollough as chairman of the board. He succeeds Richard Sharp, who has retired.

Barnes & Noble named Larry Zilavy. (People in the News).(Brief Article)
June 21, 2002... Barnes & Noble named Larry Zilavy as its new CFO. He replace Maureen O'Connell, who was named executive VP of finance, a new position.

May Department Stores promoted J. Per Brodin. (People in the News).(Brief Article)
June 21, 2002... May Department Stores promoted J. Per Brodin to VP. corporate accounting and reporting, succeeding Michael Culhane, who was named VP and controller of Filene's.

GNC named Michael Tam. (People in the News).(executive VP, chief marketing officer)(Brief Article)
June 21, 2002... GNC named Michael Tam executive VP, chief marketing officer, a new position. He comes from Nordstrom, where he served as executive VP of the retailer's product group.

KB Toys appointed David Southworth. (People in the News).(VP of strategic branding)(Brief Article)
June 21, 2002... KB Toys appointed David Southworth VP of strategic branding, a new position. He comes from Capital One Financial Corp., where he served as a business-development executive.

Saks Inc. elected Nora McAniff. (People in the News).(board of directors)(Brief Article)
June 21, 2002... Sakes Inc. elected Nora McAniff to its board of directors for a three-year term.

Smith & Hawken. (People in the News).(Tammy Lowe, new CIO)(Brief Article)
June 21, 2002... Smith & Hawken appointed Tammy Lowe as its new CIO.

Foot Locker pairs up with Adidas.(in-store boutiques)(Brief Article)
June 21, 2002... Foot, Locker will open in-store shops in 400 of its name-brand and Champs Sports stores in America. The boutiques will sell Adidas merchandise endorsed by Tracy McGrady, who plays for the Orlando Magic basketball team. Earlier this year, it...

Uncle Sam gets snubbed by Home Depot.(store won't take federal gov. credit cards)(Brief Article)
June 21, 2002... Lowe's accepts federal government credit cards and federal government business in general, so why won't The Home Depot? The latter company's policy toward sales to Uncle Sam was thrust, into the spotlight this week when a corporate memo was...

May unveils three new apparel lines.(May Department Stores )(Brief Article)
June 21, 2002... Further supporting its dedication to its core clientele arid "making the casual lifestyle the cornerstone" of its merchandising initiatives, May Department Stores showcased three new private-label clothing lines for women at a runway fashion...

Kmart billed $20 million by advisors.(Brief Article)
June 21, 2002... Kmart is expected to fork over more than $20 million to the law firms and financial advisors it hired after filing for bankruptcy for their first three months of service. Among those set to receive payments are Kmart's chief law firm, Skadden...

Gristede's Foods. (This Week's Retail News Nuggets).(to buy 26 King's Super Markets)(Brief Article)
June 21, 2002... Gristede's Foods will buy 26-store chain King's Super Markets for $155 million.

Liz Claiborne is spending an undisclosed sum to purchase Montreal-based Mexx Canada. (This Week's Retail News Nuggets).(Brief Article)
June 21, 2002... Liz Claiborne is spending an undisclosed sum to purchase Montreal-based Mexx Canada, which currently operates as a privately held third-party retailer and distributor of Liz Claiborne's Mexx-brand products in Canada.

Amazon.com. (This Week's Retail News Nuggets).(reduces free shipping order size)(Brief Article)
June 21, 2002... Amazon.com has reduced the required order size for free shipping on its Web site, from $99 to $49.

Best Buy. (This Week's Retail News Nuggets).(new stores in Toronto area)(Brief Article)
June 21, 2002... Best Buy will bring its own banner to Canada this year by opening eight stores in and around the Toronto area.

Martin's Supermarkets. (This Week's Retail News Nuggets).(opens in-store pharmacies in Indiana)(Brief Article)
June 21, 2002... Martin's Supermarkets opened pharmacies at three stores in Indiana.

Hot Topic. (This Week's Retail News Nuggets).(relaunches Web sites)(Brief Article)
June 21, 2002... Hot Topic relaunched its Web sites and e-commerce store.

BJ's Wholesale. (This Week's Retail News Nuggets).(Connecticut stores to get electronic shelf labels)(Brief Article)
June 21, 2002... BJ's Wholesale will equip seven of its stores in Connecticut with electronic shelf labels.

New stores, new markets.(chain stores open new stores)(Brief Article)(Industry Overview)
June 14, 2002... Next March, Target will open the first of four name brand stores in the Raleigh, N.C., area. It has also applied for a permit to build a store in Shiloh, Mo. Barnas & Noble will open in two weeks at The Shops at Prudential Center in...

June sales increase in first week, seasonal goods in high demand.(retail stores saw sales increase due partly to good weather)(Brief Article)(Industry Overview)(Statistical Data Included)
June 14, 2002... High temperatures and clear akies helped bring consumers out of their homes and into retail stores in the first week of June. Continuing the sales improvement that began in the last week of May, shoppers purchased seasonable merchandise such...

Independent shops sue Blockbuster.(Lone Star Videotronics, Big Picture Video, and Phoenix-Merchant Investments filed suit regarding deal with movie studios)(Brief Article)
June 14, 2002... A trio of independent video-rental stores allege that Blockbuster signed exclusive deals with a number of Hollywood movie studios in an effort to drive them out of business. The three stores claim that Blockbuster signed agreements with the...

Federated sells Fingerhut--finally.(Brief Article)
June 14, 2002... At long last, Federated Department Stores has signed a finalized deal to sell its Fingerhut division's assets to FAC Acquisitions, headed by former Fingerhut; CEO Theodore Deikel and Tom Petters. It began taking steps to sell Fingerhut in...

At Nordstrom.com. (People in the News).(two executives leave)(Brief Article)
June 14, 2002... At Nordstrom.com: Dan Nordstrom stepped down as chief executive and Mike Smith resigned as president. Former Nordstrom co-chairman Ray Johnson will serve as interim chief executive and president until a permanent successor is named.

Proffitt's/McRae's department store division. (People in the News).(Saks)(Brief Article)
June 14, 2002... Saks appointed Russell Schutte senior VP of stores for its Proffitt's/McRae's department store division, effective June 24. He comes from Federated's Burdines division, where he was senior VP, regional director of stores.

Staples elected Brenda Barnes and Richard Curzie to its board of directors. (People in the News).(Brief Article)
June 14, 2002... Staples elected Brenda Barnes and Richard Curzie to its board of directors. Barnes is a former president and CEO of Pepsi-Cola North America. Currie is chairman and director of Bell Canada Enterprises.

Kmart restates losses for Q1 - Q3.(Brief Article)(Statistical Data Included)
June 14, 2002... Kmart has restated its losses for the first three quarters of fiscal 2001. The chain says it will now record the discounts-which it calls rebates and allowances-only after it has made a formal agreement with its vendors for the coming years....

Nordstrom adding division in Florida.(Brief Article)
June 14, 2002... Nordstrom is creating a new operating division for its stores in Georgia, Texas and Florida as part of an effort to fix the merchandise mix in those locations, particularly in the Sunshine State. Based in Coral Gables, Fla., the division will...

Best Buy opens flagship in Manhattan.(Brief Article)
June 14, 2002... Like many retailers before it, Best Buy has devised a new format to open in urban locations. The consumer-electronics retailer opened its first name brand store in Manhattan today at the corner of 23rd Street and 6th Avenue. The two-level,...

C&S Wholesale is now C&S Holdings.(Brief Article)
June 14, 2002... C&S Holdings is the new corporate moniker of C&S Wholesale Grocers. The new outfit will manage the company's five business ventures: the Grand Union supermarket chain; ES3 logistics service provider; LC Transportation; J&R Ice Cream Corp.;...

Federated Department Stores. (This Week's Retail News Nuggets).(Gottschalks Inc. sells stores in Idaho and Washington state)(Brief Article)
June 14, 2002... Federated Department Stores acquired two stores form Gottachalks in Idaho and Washington. It will remodel them under its Bon Marche format and reopen them by late fall.

Hershey Foods. (This Week's Retail News Nuggets).(opening store in)(Brief Article)
June 14, 2002... Hershey Foods will open on the corner of Broadway and 43th Street this November, its first store outside Hershey, Pa.

H.E. Butt. (This Week's Retail News Nuggets).
June 14, 2002... H.E. Butt acquired nine Albertson's stores in Texas.

GLN Inc., operator of Nichols Dollar Saver. (This Week's Retail News Nuggets).(Brief Article)
June 14, 2002... GLN Inc., operator of Nichols Dollar Saver, bought five Winn-Dixie supermarkets in Oklahoma.

The Dallas Plan Commission rejected Wal-Mart's plan. (This Week's Retail News Nuggets).(Brief Article)
June 14, 2002... The Dallas Plan Commission rejected Wal-Mart's plan to build a two-story urban supercenter in the city.

New stores, new markets.(Brief Article)
June 7, 2002... The first West Marine Express stores will open on June 29 in Monterey and Mission Bay, Calif. A third will open in Santa Barbara Calif, on July 13. Steve Madden added a store at Natick (Mass.) Mall. One will open next month in Boston on...

May Comps increase just 3.4%, shopping hampered by weather.(Brief Article)
June 7, 2002... Weather was the determining factor for retail comparable-store sales in May. Comps rose a moderate 3.4% for the month, according to a tally composed by the Bank of Tokyo-Mitsubishi. The numbers for the month are lower than the 4.8% average...

Super Valu. (People in the News).(Brief Article)
June 7, 2002... Super Valu elected its CEO and president Jeff Noddle as its chairman.

Kmart. (People in the News).(Brief Article)
June 7, 2002... William Underwood is returning to Kmart as executive VP of sourcing, global operations. He first joined the retailer in 1962 and retired in 1999.

Stein Mart. (People in the News).(Brief Article)
June 7, 2002... John Williams will step down as CEO of Stein Mart next January. Michael Fisher, president and COO, will assume the role of CEO at that time.

Albertson's. (People in the News).(Brief Article)
June 7, 2002... Albertson's appointed Judy Spires president of its Rocky Mountain division.

Acme Markets. (People in the News).(Brief Article)
June 7, 2002... Acme Markets named Anthony Frederico VP of operations, Eastern division.

Mazel Stores. (People in the News).(Brief Article)
June 7, 2002... Mazel Stores added Steve Furner, a former Wal-Mart executive, to its board.

Coldwater Creek. (People in the News).(Brief Article)
June 7, 2002... Coldwater Creek named former Arthur Andersen employee Melvin Dick as executive VP, CFO.

Saks partners with U.K. specialty chain.(Brief Article)
June 7, 2002... British specialty retailer Penhaligon's will open owned boutiques in select Saks Fifth Avenue stores over the next few years. Penhaligon's currently leases space in the Saks Fifth Avenue flagship store in New York City. That in-store shop...

New formats, lower prices at Toys 'R' Us.(Brief Article)
June 7, 2002... Toys "R" Us will lower its prices on roughly 200 popular items as part of an effort to boost its market share to 20%. It currently holds a 17% share of the toy market, behind Wal-Mart Toys "R" Us plans to make up the price cuts with the...

Macerich buys westcor for $1.48 billion.(Brief Article)
June 7, 2002... Macerich boosted its portfolio in Arizona this week with the purchase of Westcor Realty Limited for $1.48 billion. Westcor's existing portfolio includes full ownership in three shopping centers and interests in six others for a total of 10...

Harvest Supermarkets. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... Winn-Dixie is selling 17 stores in northern Texas to Brookshire Grocery; seven locations in Dallas to Kroger; and one store in Euless, Texas, to Harvest Supermarkets.

CDL & Associates Properties. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... CDL & Associates Properties spent $46.5 million to acquire Panama City (Fla.) Mall.

OshKosh B'Gosh. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... Mervyn's will begin selling licensed products from OshKosh B'Gosh in its 267 stores in the fourth quarter of fiscal 2002.

Kings Supermarket. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... Gristede's is in talks with Marks & Spencer to buy its Kings Supermarket chain.

Florida Do It Best Hardware. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... Scotty's Do It Best Hardware will acquire 17 stores from Florida Do It Best Hardware. It has already assumed the day-to-day operations of the stores.

The Home Depot. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... The Home Depot added an on-line kitchen and bath design center shop to its Web site.

Infinity Bank. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... Infinity Bank is expected to open instore banking branches in 12 Albertson's stores in Broward County and Palm Beach County Fla., by the end of the year.

Major League Baseball. (This Week's Retail News Nuggets).(Brief Article)
June 7, 2002... Lands' End will sell licensed clothing from Major League Baseball through its catalog and Web site. No information was given as to whether the goods would be sold in Sears' stores as well.