Chain Store Age Executive Fax articles from June 2004

Chain Store Age Executive Fax archives from June 2004

New stores, new markets.(Brief Article)
June 4, 2004... Pet Supermarket just opened in Strongsville, Ohio.... Look for Crate & Barrel's outlet store in Cranbury, N.J.... Book chain Borders will open this October at Algonquin (Ill.) Commons. It will mark the retailer's 32nd store in the Chicago...

May comps beat expectations, gas costs don't impact spending.
June 4, 2004... Record high gasoline costs didn't derail most consumers' appetite for spending. Despite the average 20 cents per gallon hike in fuel costs, shoppers still flocked to stores in May, leading retailers to report an industrywide increase in...

Tom Beauchamp was named CIO of Hot Topic, Inc.(People In The News)(Brief Article)
June 4, 2004... Tom Beauchamp was named CIO of Hot Topic, Inc. He recently served in a similar role at CMI Marketing Inc., a consumer loyalty programs provider.

Hilary Chasin was named senior VP of marketing of Charming Shoppes, Inc.(People In The News)(Brief Article)
June 4, 2004... Hilary Chasin was named senior VP of marketing of Charming Shoppes, Inc. She most recently was a marketing consultant for Liz Claiborne.

Whitehall Jewellers appointed Debbie Nicodemus-Volker as executive VP of merchandise.(People In The News)(Brief Article)
June 4, 2004... Whitehall Jewellers appointed Debbie Nicodemus-Volker as executive VP of merchandise. She comes from Donna Karan, where she was VP of merchandising and planning.

BJ's Wholesale.(People In The News)(Brief Article)
June 4, 2004... Karen Stout was appointed executive VP of merchandising at BJ's Wholesale.

Lowe.(People In The News)(Brief Article)
June 4, 2004... Lowe's named Robert Hull to executive VP and CFO.

RedEnvelope.(People In The News)(appointments)(Brief Article)
June 4, 2004... RedEnvelope named Edward Schmults as senior VP of operations.

Tiffany, Klein will grow in Japan, Asia.(Brief Article)
June 4, 2004... Tiffany & Co. will add two stores in Japan later this fall, which will boost its store base there to 52. The company will open in September in the Meiji Yasuda Life building in the Marunouchi area of Tokyo. Two months later, Tiffany will open...

Sam's Club to grow small Web businesses.(Brief Article)
June 4, 2004... Small business owners can now get more than just large quantities of paper goods and snacks at Sam's Club. They can exit the retailer's doors with a professionally made Web site, domain name and Internet e-mail. The company introduced a service...

Children's Place courts Mickey Mouse.(Brief Article)
June 4, 2004... The Children's Place may soon add a prominent member to its family. The retailer is said to be in talks with Walt Disney Co. to acquire its Disney Store chain under a license arrangement. The division operates 335 stores in the United States...

Sears outsources some IT services.
June 4, 2004... Sears signed a 10-year, $1.6 billion contract this week with El Segundo, Calif.-based Computer Sciences Corp. (CSC) to handle some major IT programs for the retailer. Under terms of the agreement, CSC will provide desktop, server, voice and...

This week's retail news nuggets.(Brief Article)
June 4, 2004... The Home Depot completed its acquisition of Home Mart, a 20-store Mexican chain. Added to its 19 existing stores in Mexico, the company now operates 39 stores south of the border.... J.C. Penney received the green light from federal regulators...

New stores, new markets.(Brief Article)
June 11, 2004... Guitar Center will open its first store in Illinois outside of Chicago this September at the Westlake Shopping Center in Peoria.... Furniture retailer Fortunoff opened in a former Toys "R" Us location in Eatontown, N.J., across from the...

May acquires Marshall Field's, but was the price tag too high?(Brief Article)
June 11, 2004... In a race that may have been as close as that of Smarty Jones and Birdsong, May Department Stores emerged as the winning bidder for Target's Marshall Field's division. May beat out Federated Department Stores to acquire the 62-store chain,...

Wal-Mart gets serious about diversity.(Brief Article)
June 11, 2004... Failure to enforce worker diversity at the store level may soon lead top executives at Wal-Mart Stores, Inc. to lose a good chunk, if not all, of their bonuses. Speaking during the retailer's annual meeting this week, CEO Lee Scott noted that...

Home Depot to buy handful of Kmarts.
June 11, 2004... While Kmart is not actively seeking buyers for some of its stores, the retailer has found one buyer with intent of acquiring up to two dozen stores: The Home Depot. Kmart said this week that the home-improvement chain will spend as much as $365...

Ultimate Electronics, Inc..(People In The News)(Brief Article)
June 11, 2004... David Carter jumped ship to Ultimate Electronics, Inc., where he was named senior VP of finance and CFO. He most recently served as CFO of rival retailer Good Guys, Inc. Alan Kessock, who previously served as senior VP of finance and CFO at...

PriceSmart.(People In The News)(Brief Article)
June 11, 2004... PriceSmart has appointed former Wal-Mart de Mexico executive Jose Luis Laparte as its president. He was serving as a consultant for the company....

Linens 'n Things.(People In The News)(Brief Article)
June 11, 2004... Jack Moore resigned as general merchandise manager of the home and footwear business of Kohl's to become president and COO of Linens 'n Things. Kohl's president Kevin Mansell will handle the merchandising functions on an interim basis....

REI.(People In The News)(Brief Article)
June 11, 2004... Dennis Madsen will step down as CEO of REI next March. Sally Jewell, the chain's COO, will take his place. Madsen joined the retailer at the age of 17 working as a stocking clerk at the company's Seattle store. He was named CEO in 2000.

Former Rite Aid COO gets probation.(Brief Article)
June 11, 2004... Former Rite Aid president/COO Timothy Noonan was sentenced to two years of probation for withholding information from internal investigators. Noonan had secured secret tape recordings of other former Rite Aid executives, which served as...

No complacency for luxury retailers.(Brief Article)
June 11, 2004... Despite positive economic growth and a strong year for luxury retailers, marketers must constantly evaluate the shifting needs of this consumer segment. In a presentation this week to members of the Luxury Marketing Council, Tom Quinn, an...

When privacy is the issue, eBay is king.(Brief Article)
June 11, 2004... Internet auction house eBay was voted the most trusted company for privacy, according to a recent consumer study conducted by Tucson, Ariz.-based the Ponemon Institute and TRUSTe. Rounding out the top five (in descending order) were American...

Penney begins search for next CEO.(Brief Article)
June 11, 2004... J.C. Penney hired executive search firm Heidrick & Struggles to find a successor to current chief executive Allen Questrom, whose contract expires in September 2005. He joined Penney in September 2000, coming out of a two-year retirement to...

Save-A-Lot gets bigger in Dallas market.(Brief Article)
June 11, 2004... Save-A-Lot, a unit of SuperValu, acquired leasehold interests in 17 former Grocery Outlet sites in the Dallas/Fort Worth area and surrounding markets. The grocer already operates 30 licensed locations in Texas, 14 of which are in the Dallas...

This week's retail news nuggets.(Brief Article)
June 11, 2004... Big Lots opened its fifth distribution center, a $70 million, 1.2 million-sq.-ft. facility in Durant, Okla. It completed the entire project in 18 months.... Kroger and the United Food and Commercial Workers Union Local 876 came to a tentative...

New stores, new markets.(Brief Article)
June 18, 2004... EB Games, OfficeMax and Walgreens are among the tenants of Southtown Centre in St. Louis.... Wild Oats Markets will open its second store in Vancouver, Wash., this fall. It currently operates 10 stores in the Portland and Vancouver areas.......

Multichannel retailers appear one-dimensional in site audit.(Brief Article)
June 18, 2004... Many retailers talk the talk about providing a multichannel shopping experience for their customers, but few of them have the ability to walk the walk. In a recent study conducted by Columbus, Ohio-based Retail Forward, it was discovered that...

Fitch approves of Penney's progress.(J.C. Penney Company Inc.)(Brief Article)
June 18, 2004... Based on improved operating trends within J.C. Penney's department store business, Fitch Ratings has placed the retailer on Rating Watch Positive. The move also is related to the expectation for some level of debt reduction. Penney's operating...

Albertson's exits Omaha market.(Brief Article)
June 18, 2004... Continuing its plan to exit markets in which it is not the No. 1 or No. 2 player, Albertson's will sell 11 grocery stores and 10 Osco drug stores in Nebraska and Iowa. The company will exit the Omaha, Neb., market entirely. It also is pulling...

Drugstore.com.(People In The News)(Brief Article)
June 18, 2004... Kal Raman resigned as chief executive and president of Web merchant drugstore.com. Robert Barton, the retailer's CFO, will assume his duties until a replacement is named.

Hibbett Sporting Goods.(People In The News)(Brief Article)
June 18, 2004... Chuck Adams was named CIO and VP of distribution of Hibbett Sporting Goods. A five-year company veteran, Adams previously served as VP of information systems and distribution.

Dollar Tree Stores.(People In The News)(Brief Article)
June 18, 2004... Bob Sasser, CEO of Dollar Tree Stores, was elected to the company's board of directors.

Circuit City now considers Canada.(Brief Article)
June 18, 2004... Circuit City is considering opening its own stores in Canada to better compete against Best Buy, its chief rival. Earlier this year, Circuit City acquired InterTan, a Canadian consumer-electronics chain. The company will make a decision once...

Blockbuster deals video-game card.(Brief Article)
June 18, 2004... Blockbuster has introduced the Flip Card, which now allows customers to rent an unlimited number of video games, one at a time, over a three-month period. There are no return dates, as long as the Flip Card is valid, Blockbuster says. The...

Sales growth slowed in latest tally.(Brief Article)
June 18, 2004... Father's Day falls a full week later than last year, and that slowed the pace of sales somewhat at major retailers for the week ended June 12. According to the International Council of Shopping Centers and UBS sales tally, same-store sales rose...

'Do Not Spam' list pointless right now.(Brief Article)
June 18, 2004... There's no sense in creating a "Do Not Spam" registry to get rid of unwanted e-mail. The main reason is that such a service would only generate more spam in return, according to the U.S. Federal Trade Commission (FTC). Timothy Muris, the FTC...

Best Buy snatches up Gateway stock.(Brief Article)
June 18, 2004... Taking advantage of Gateway's retail store misfortune, Best Buy soon will begin selling excess inventory from the computer maker's recently shuttered retail operation, according to The Wall Street Journal. Gateway closed its remaining retail...

This week's retail news nuggets.(Brief Article)
June 18, 2004... Dollar Tree's distribution center in Joliet, Ill., commenced operations earlier this month, ahead of schedule and under budget. The 1.2 million-sq.-ft. facility replaces a small, manual facility in nearby Woodridge, Ill.... Kum & Go boosted...

New stores, new markets.(Brief Article)
June 25, 2004... Lowe's opens next month in Boiling Springs, S.C.... REI leased space in Pittsburgh, where it plans to open in September 2005. The two-story location will be located at Southside Works, a mixed-use development.... Urban Outfitters will open in...

Two more sports chains merge, Dick's to acquire rival Galyan's.(Dick's Sporting Goods )(Galyan's Trading Co.)(Brief Article)
June 25, 2004... One year after Gart Sports and The Sports Authority joined forces in early 2003, two other rival sporting-goods retailers have opted to merge. Dick's Sporting Goods will spend roughly $362 million to buy 47-store chain Galyan's Trading Co., a...

Teen gift-card use still ranks highly.(Brief Article)
June 25, 2004... Today's teens not only use gift cards, they're also fond of purchasing them for their friends. In a recent study of 1,600 teenagers bound for college, it was discovered that two-thirds of U.S. teenagers bought one or more gift cards during the...

Wal-Mart, MasterCard make amends.(Brief Article)
June 25, 2004... Roughly six months after it ceased accepting MasterCard signature debit cards at its stores, Wal-Mart is now allowing customers to use the debit cards at all of its stores. While exact details of the deal were not provided, Wal-Mart will...

Cap Gemini.(People In The News)(Brief Article)
June 25, 2004... Ajit Patel is no longer serving as CIO of Chico's FAS. For the interim basis, Chico's retained an independent IT consultant from Cap Gemini to serve as CIO until a successor to Patel is named....

Cost-U-Less.(People In The News)(Brief Article)
June 25, 2004... Cost-U-Less elected Bob Donegan to its board of directors. He currently serves as president of Seattle-based Ivar's, a 61-unit restaurant chain....

7-Eleven.(People In The News)(Brief Article)
June 25, 2004... 7-Eleven named Gary Rose as executive VP, COO. The 36-year company veteran was previously executive VP of field operations....

Friedman.(People In The News)(Brief Article)
June 25, 2004... Friedman's has named Sam Cusano, a former CEO of Service Merchandise, as its new CEO....

Hot Topic.(People In The News)(Brief Article)
June 25, 2004... Kathleen Mason, CEO and president of Tuesday Morning, was elected to Hot Topic's board....

Kmart.(People In The News)(Brief Article)
June 25, 2004... Kmart named Robert Norton senior VP of stores; Dene Rogers senior VP of store operations; and David Whipple senior VP of associate resources.

Abercrombie mum on new format.(Brief Article)
June 25, 2004... Abercrombie & Fitch, Inc. (A&F) is keeping a tight rein on its new retail concept, the first stores of which will open this August in undisclosed locations. According to a report in The Columbus Dispatch, the new concept, A&F's fourth, targets...

Shoppers don't like super-sized stores.(Brief Article)
June 25, 2004... Bigger isn't always better in the consumer's eye when the topic is retail store size. A new study by New York City-based Kurt Salmon Associates found that 45% of consumers say they feel stores today are too messy, jammed and difficult to...

Food stamps advance to electronic age.(Brief Article)
June 25, 2004... Supermarket retailers soon will no longer have to keep track of food stamp coupons. The paper stamps that were issued under the government's Food Stamp Program will be phased out later this month in favor of a plastic card that functions...

Simon Property buys Chelsea Property.(Brief Article)
June 25, 2004... Simon Property Group will spend roughly $3.5 billion to acquire Roseland, N.J.-based Chelsea Property Group. The deal follows Simon's unsuccessful and hostile attempt to buy rival mall owner Taubman Centers last year. Chelsea currently operates...

This week's retail news nuggets.(Brief Article)
June 25, 2004... Blockbuster will spend $905 million to split from its parent company Viacom, which has an 81.5% stake in the company.... Weathervane is liquidating its 95 stores in the Northeast and Midwest. The retailer filed for Chapter 11 earlier this...