Chain Store Age Executive Fax articles from March 2002

Chain Store Age Executive Fax archives from March 2002

New stores, new markets.(Brief Article)
March 29, 2002... Cato will open stores on April 10 in Clarksville, Tenn.; Pikeville, KY.; Fort Smith, Ark.; and Evans, Ga.... Whole Foods Market just opened in Highlands Ranch, Colo.... Video Warehouse leased space at Laurel (Md.) Shopping Center....

Welcome to the neighborhood: Home Depot opening new format.(Brief Article)
March 29, 2002... "Any densely populated, market is now open to us." That's what a Home Depot spokesman said this week during a press preview of the retailer's new smaller-format store in Brooklyn, N.Y., near the Kings Plaza Mall. It will open for business on...

Five senior executives leave Kmart.(Brief Article)
March 29, 2002... Two weeks after Chuck Conaway stepped down as CEO of Kmart, five more executives have left, including the discount chain's chief administration officer. The news was confirmed in a memo this week by chairman and CEO James Adamson. However,...

People in the news.(personnel changes)(Brief Article)
March 29, 2002... Federated Department Stores gave its president and chief merchandising officer Terry Lundgren the added title of COO, effective April 15. Federated also extended James Zimmerman's contract as chairman and CEO through February 2004. ...

Casual Male selling majority of assets.(Brief Article)
March 29, 2002... After operating under bankruptcy protection for roughly 10 months, Casual Male Corp. this week agreed to sell nearly all of its assets to Charlesbank Capital Partners for $137 million plus the assumption of specified liabilities. Both...

Right Start changes corporate name.(to FAO Inc.)(Brief Article)
March 29, 2002... In an effort to capitalize on the recognition of the FAO Schwarz name, The Right Start Inc. has changed its corporate moniker to FAO Inc. Last November, Right Start spent roughly $50 million to acquire 23 of the 40 FAO Schwarz...

Top 10 e-retailers in customer service.(Brief Article)
March 29, 2002... Nordstrom, Amazon.com, Lands' End and drugstore.com are among the top 10 e-commerce retailers in customer service, according to a survey conducted by DMA/e-tailing group. The study rated 100 e-retailers on time to shop; number of clicks to...

This week's retail news nuggets.(Brief Article)
March 29, 2002... Defunct retailer Payless Cashways sold a dozen properties to an undisclosed buyer for $15 million. The retailer now has 45 properties left to sell out of the 129 at the beginning of its liquidation. Footstar combined its Footaction and...

Home Depot acquires Del Norte, raises stake in Mexican market.(Brief Article)
March 22, 2002... Continuing its efforts to increase its store base south of the border, The Home Depot this week acquired Del Norte, a four-store chain based in Juarez, Mexico. The move continues the retailer's plan to boost its international presence by...

Fleming, Albertson's sign supply deal.(Brief Article)
March 22, 2002... In a move equally beneficial to both companies, Fleming signed a five-year agreement with Albertson's this week to supply 28 stores in Oklahoma and 11 in Nebraska. The supply deal will help Albertson's curb expenses. The grocer, which is...

Kmart to commence liquidation sales.(Brief Article)
March 22, 2002... A bankruptcy court judge gave Kmart permission this week to begin going-out-of-business sales at the 284 stores it has slated for closure and to continue its licensing agreements with its five major brands. The five entities combined account...

Unions ordered out of Wal-Mart stores.(Brief Article)
March 22, 2002... Wal-Mart's efforts to keep union organizers from soliciting its employees inside its stores was enforced by a judge this past weekend. While the United Food and Commercial Workers Union was ordered to keep its members from "soliciting" and...

Magazine buyers spend more at grocers.(Brief Article)
March 22, 2002... Supermarket retailers that are looking to increase sales should begin by boosting the number of magazine titles available in their stores. A report presented at the Magazine Publishers of America's Retail Conference & Expo this week in Dallas...

Burnham Pacific sells three interests.(Brief Article)
March 22, 2002... Burnham Pacific Properties sold its interests in three retail properties in California and Utah for a total of $22.3 million. The biggest ticket came via the sale of Santa Fe Springs (Calif.) Plaza to Santa Fe Springs Plaza Associates LLC for...

Sears will take $208M charge in 1Q.(Brief Article)
March 22, 2002... Sears will record a non-cash charge of $208 million in the first quarter. The charge is related to a change in accounting for its past acquisitions of the Orchard Supply Hardware and National Tire & Battery chains. In other company news,...

This week's retail news nuggets.(Brief Article)
March 22, 2002... Star bucks will expand its coffee house format to Puerto Rico this year. The company teamed with Puerto Rico Coffee Partners to form a joins venture titled Cafe del Caribe. The first store will open by the end of the summer in San Juan.......

Filene's Basement. (New Stores, New Markets).(Pittsburgh store)(Brief Article)
March 22, 2002... Filene's Basement opened its first store in Pittsburgh this week.

Michaels Stores. (People in the News).(names board member)(Brief Article)
March 22, 2002... Michaels Stores appointed Liz Minyard to its board of directors. She currently serves as co-chairman and co-chief executive of Minyard Food Stores, a regional chain based in Dallas. The company also named Tom Making VP.

Talbots. (People in the News).(Brief Article)
March 22, 2002... Talbots promoted Rosemary Murphy to VP, general merchandise manager of apparel.

Guitar Center. (People in the News).(elects board member)(Brief Article)
March 22, 2002... Guitar Center elected Dr. Larry Livingston to its board of directors. He has served as dean of the USC Flora L. Thornton School of Music since 1986.

Factory Card Outlet. (People in the News).(chairman and CEO resigns)(Brief Article)
March 22, 2002... William Freeman is stepping down as chairman and CEO of Factory Card Outlet, a company he helped found. Gary Rada, current senior VP and general merchandise manager, was appointed president. In addition, James Constantine was promoted to...

Albertson's. (People in the News).(appointment)(Brief Article)
March 22, 2002... Albertson's appointed John Sims executive VP, general counsel. He also will serve as a member of the executive committee.

Kroger. (People in the News).(elects board member)(Brief Article)
March 22, 2002... Kroger elected David Lewis to its board.

Hank Mullany. (People in the News).(steps down at Genuardi's Supermarkets Inc.)(Brief Article)
March 22, 2002... Hank Mullany is stepping down as president of regional supermarket retailer Genuardi's, a division of Safeway. Taking over as VP, general manager will be Maria Fidelibus.

The Home Depot. (People in the News).(Millard Barron, new senior VP)(Brief Article)
March 22, 2002... The Home Depot named Millard Barron senior VP of store merchandising. He has served with Payless Cashways and Wal-Mart.

Burlington Coat Factory. (New Stores, New Markets).(new location in Modesto, California)(Brief Article)
March 22, 2002... Burlington Coat Factory just opened in Modesto, Calif., in a former Montgomery Ward location.

Gart Sports and Off Broadway Shoes. (New Stores, New Markets).(new locations in Lakewood, Colorado and Wichita, Kansas)(Brief Article)
March 22, 2002... Gart Sports and Off Broadway Shoes will open this fall at Colorado Mills, in Lakewood, Colo. Gart Sports will also open its second store in Wichita, Kan., this fall.

Family Fare Supermarket and A.J. Wright. (New Stores, New Markets).(new Wyoming, Michigan location)(Brief Article)
March 22, 2002... Family Fare Supermarket and A.J. Wright will open at Rogers Plaza, in Wyoming, Mich.

Murphy's Camera and Knotts Shoes. (New Stores, New Markets).(new Louisville, Kentucky locations)(Brief Article)
March 22, 2002... Murphy's Camera and Knotts Shoes are coming to The Summit Louisville, Ky.

Warehouse Shoes. (New Stores, New Markets).(new Anaheim, California location)(Brief Article)
March 22, 2002... Warehouse Shoes opened at Anaheim (Calif.) Town Square.

Paul Harris. (New Stores, New Markets).(new Terre Haute, Indiana location)(Brief Article)
March 22, 2002... Paul Harris opens today in Terre Haute, Ind., at Honey Creek Mall.

Ashley's Furniture. (New Stores, New Markets).(new store in Georgia)(Brief Article)
March 22, 2002... Ashley's Furniture leased space in Southlake Pavilion Shopping Center and Venture Points Shopping Center, located in Morrow and Duluth, Ga., respectively.

Jos. A. Bank. (New Stores, New Markets).(opens another store in Rochester, New York)(Brief Article)
March 15, 2002... Jos. A. Bank opened its second store in Rochester, N.Y., at Pittsfield Square.

Parkway Place in Huntsville, Ala., just named 30 additional retailers that will open there along with Parisian. (New Stores, New Markets).(Brief Article)
March 15, 2002... Parkway Place in Huntsville, Ala., just named 30 additional retailers that will open there along with Parisian this October. Dillard's, Buckle, American Eagle, Too, Bath & Body Works, Gadzooks, Victoria's Secret, Spencer Gifts,...

Lowes Foods. (New Stores, New Markets).(opens in Winston-Salem, North Carolina)(Brief Article)
March 15, 2002... Lowes Foods will anchor The Shoppes at Oliver's Crossing, opening this May in Winston-Salem, N.C.

EXPO Design Center. (New Stores, New Markets).(Brief Article)
March 15, 2002... EXPO Design Center just opened in Queens, N.Y., in the Jackson Heights area.

Foot Locker. (New Stores, New Markets).(in New York)(Brief Article)
March 15, 2002... Foot Locker will open a trio of stores in New York City this year, with Foot Locker and Champs Sports units planned for Times Square, and a Champs Sports shop on 125th Street in the Harlem neighborhood.

Staples. (New Stores, New Markets).(leases space in Kent, Washington)(Brief Article)
March 15, 2002... Staples leased space in Kent, Wash.

Ralphs. (New Stores, New Markets).(builds stores in four California cities)(Brief Article)
March 15, 2002... Ralphs is building stores in Roseville, Elk Grove, El Dorado Hills and Sacramento, Calif.

Galyan. (New Stores, New Markets).(first store in Nevada to open)(Brief Article)
March 15, 2002... Galyan's will open its first store in Nevada this October at The Galleria at Sunset, in Henderson.

Marty Shoes. (New Stores, New Markets).(lease)(Brief Article)
March 15, 2002... Marty Shoes leased space in Danbury and Bridgeport, Conn.

Tuesday Morning. (New Stores, New Markets).(new Denton, Texas location)(Brief Article)
March 15, 2002... Tuesday Morning will open in Denton, Texas.

Kmart shuttering 284 locations Conaway out as Chief Executive.(Chuck Conaway)(Brief Article)
March 15, 2002... Kmart hit the retail industry with a one-two punch this past week. First the discounter said it would dose 284 underperforming stores, less than the 500 to 700 locations some analysts predicted would go dark. Three days later, Chuck Conaway...

Has the economy fully recovered?
March 15, 2002... Two economists have different views about the state of the U.S. economy. Rosalind Wells of the National Retail Federation said this week that the American consumer is "getting us out of recession." Her comments come one week after retailers...

Albertson's exiting four markets.(stores to close or be sold)(Brief Article)
March 15, 2002... Albertson's will close or sell 116 stores in two southern states in an effort to focus on its core market areas. The grocer is closing its stores in Houston, San Antonio, and Memphis and Nashville, Tenn. The stores represent sales of roughly...

Federated/May merger seen unlikely.(Brief Article)
March 15, 2002... Mergers will take place in the department store industry, analysts say, just not between two of the biggest chains. While Federated Department Stores and May Department Stores have talked in the past, industry analysts and observers say there...

Gap's store growth too fast to manage.(Brief Article)
March 15, 2002... "Our store growth over the last several years was probably faster than we could manage well" That's what Gap CFO Heidi Kunz told investors this week in a conference hosted by Merrill Lynch. However, don't expect the apparel chain to embark on...

Wal-Mart investing in Japanese Chain.(Seiyu Ltd.)(Brief Article)
March 15, 2002... Looking to gain a foothold in the second-largest economy, Wal-Mart will spend roughly $46.7 million to acquire 6.1% of Japanese retailer Seiyu Ltd.'s stock. Over time, the discounter will have the opportunity to raise its stake in Seiyu to...

Office Depot. (This Week's Retail News Nuggets).(website launched in Netherlands)(Brief Article)
March 15, 2002... Office Depot launched a Web site in the Netherlands.

Safeway. (This Week's Retail News Nuggets).(Futures Beef Operations bankruptcy effects Safeway)(Brief Article)
March 15, 2002... Safeway will take a charge of $30.5 million as a result of the bankruptcy filing of Futures Beef Operations, a Denver-based meat-processing company in which the grocer is a 15% equity investor and has a first-loss deficiency agreement with...

Intimate Brands. (This Week's Retail News Nuggets).(takeover bid by Limited Inc.)(Brief Article)
March 15, 2002... Intimate Brands is expected to approve the takeover bid by its corporate parent Limited Inc. An ad hoc committee that was set up to review the proposal advised shareholders to accept the $1.5 billion takeover offer.

People in the News.(multiple company appointments)(Brief Article)
March 15, 2002... Robert DiNicola will retire as chairman and CEO of Zales on July 31. He will continue to serve the company as a consultant. A successor has yet to be named.... Vitamin Shoppe appointed James Kirk VP of retail operations.... Pamela...

Casual Male to sell Work 'n Gear.(Sandy Point L.L.C. to acquire)(Brief Article)
March 15, 2002... Casual Male Corp. will sell its Work 'n Gear division to Sandy Point LLC, an entity controlled by Anthony DiPaolo of Greenwich, Conn. Financial terms were not disclosed. Casual Male, which filed for bankruptcy last May, will use the proceeds...

Foot Locker teams with Nike Jordan.(to open Nike Jordan in-store shops)(Brief Article)
March 15, 2002... Foot Locker will open 25 Nike Jordan in-store shops at its Champs Sports and name brand division stores in urban locations. The merchandise selections will be comprised of basketball footwear and athletic apparel endorsed by sports superstar...

New stores, new markets.
March 8, 2002... Century 21 reopened its store last week across the street from the World Trade Center site. Kohl's opened a dozen stores today in the Houston area. Four of the store are located in Houston proper. The others opened in Conroe, Katy,...

Comps increase 6.2 % in February, light seen in recession's tunnel.(Brief Article)(Statistical Data Included)
March 8, 2002... What recession? All kidding aside, economic recovery is "well under way," according to Alan Greenspan, chairman of the Federal Reserve Board. An example that supports that statement was the better-than-expected 6.2% increase in retail...

People in the news.(Brief Article)
March 8, 2002... Charming Shoppes hired Joseph Baron as executive VP and COO, and James Bloise as senior VP of supply-chair management. Amazon.com CFO Warren Jenson plans to resign later this year. He will remain on board until a successor is found. ...

Winn-Dixie to add loyalty program.(Brief Article)
March 8, 2002... Winn-Dixie plans to roll out a new loyalty program to most of its stores in Florida and southeast Georgia. The Winn-Dixie Customer Reward Card set to debut March 7, will entitle frequent customers to discounts on their Winn-Dixie purchases....

Four retail chains buy and sell assets.(Brief Article)
March 8, 2002... It looks as if both Stop & Shop and Pathmark will each get a slice of Big V Supermarkets, which filed for bankruptcy in November 2000. Stop & Shop is expected to acquire 26 Big V locations of which it will sell nine to its regional competitor...

Restoration Hardware to revamp image.(Brief Article)
March 8, 2002... In an effort to turn around its declining business, Restoration Hardware is undertaking a store refixturing program, and a new marketing and merchandising strategy that will place a greater emphasis on bathroom fixtures and linens. The...

General Growth to acquire JP Realty.(Brief Article)
March 8, 2002... General Growth Properties is spending $1.1 billion to acquire JP Realty, which owns or has an interest in 50 retail properties across eight states in the plains and Rocky Mountain regions. The transaction includes the assumption of $460...

This week's retail news nuggets.(Brief Article)(Statistical Data Included)
March 8, 2002... Kmart will receive $2 billion in new financing to help it through its reorganization. BJ's Wholesale Club is expected to test car washes in conjunction with the rollout of gas stations at its 100-plus stores. Chico's will spend $11.5...

A Home Depot Supply. (New Stores, New Markets).(store opens in Mesquite, Texas)(Brief Article)
March 1, 2002... A Home Depot Supply store opened yesterday in Mesquite, Texas. Two more locations in Milpitas, Calif, and Highland Ranch, Colo., will open later this year....

T.J. Maxx. (New Stores, New Markets).(opening store in Florence, South Carolina)(Brief Article)
March 1, 2002... T.J. Maxx will be the anchor tenant for the expansion of Florence (S.C.) Mall....

Best Buy. (New Stores, New Markets).(Best Buy Company Inc. opens store in Alaska)(Brief Article)
March 1, 2002... Best Buy signed a lease to open its first store in Anchorage, Alaska, scheduled to open this fall. The chain also will debut this summer in Utah with four locations in Salt Lake City Sandy, Murray and Riverdale....

Dillard's and Saks Fifth Avenue will be two of the three anchor tenants of Stony Point Fashion Park. (New Stores, New Markets).(shopping center)(Brief Article)
March 1, 2002... Dillard's and Saks Fifth Avenue will be two of the three anchor tenants of Stony Point Fashion Park, located in Richmond, Va. The shopping center will open on Sept. 18, 2003....

Naturalizer opened its Manhattan flagship. (New Stores, New Markets).(Naturalizer Shoe Div.)(Brief Article)
March 1, 2002... Naturalizer opened its Manhattan flagship on Lexington Avenue, near 57th Street....

Ethan Allen. (New Stores, New Markets).(building store in Frisco, Texas)(Brief Article)
March 1, 2002... Ethan Allen began building a store in Frisco, Texas. It is scheduled to open this spring....

Food/4Leas. (New Stores, New Markets).(Philips Co. opens store in Arizona)(Brief Article)
March 1, 2002... Food/4Leas opened this week in Tucson, Ariz....

Petco is opening this weekend. (New Stores, New Markets).(in Illinois, Petco Animal Supplies Inc.)(Brief Article)
March 1, 2002... Petco is opening this weekend in Mt, Prospect, Ill., and Clifton Heights, Pa....

Stop & Shop. (New Stores, New Markets).(Stop and Shop Companies Inc. lease in New Jersey)(Brief Article)
March 1, 2002... Stop & Shop leased space in South Brunswick, N.J....

Value City Furniture. (New Stores, New Markets).(Value City Furniture Div. opening store in Virginia)(Brief Article)
March 1, 2002... Value City Furniture will open a shop in Newport News, Va....

Buy Buy Baby. (New Stores, New Markets).(lease to open in Totawa, New Jersey)
March 1, 2002... Buy Buy Baby signed a lease to open in Totawa, N.J.

Circuit City to spin off CarMax, chain will focus on electronics.(Brief Article)
March 1, 2002... In an effort to focus on its core of consumer electronics, Circuit City said this week that it spin off its CarMax auto superstore business, making it a separate publicly traded company. The mote bodes well for Circuit City, which has been...

Spiegel closing 45 Eddie Bauer stores.(Brief Article)
March 1, 2002... In a move applauded--and long awaited--by analysts, Spiegel said this week it will sell its troubled credit-card business, including its First Consumers National Bank subsidiary, and shutter 45 underperforming Eddie Bauer stores. Following...

Wet Seal launching two new initiatives.(Brief Article)
March 1, 2002... A pair of offerings at Wet will debut later this month in attempt to boost its appeal to young omen even further. The company will introduce Seal Glamour, a proprietary line of cosmetics priced between $5.50 and $16.50 at 180 namebrand stores...

Lands' End. (People in the News).(appoints Frank Giannantonio senior VP, CIO)
March 1, 2002... Lands' End named Frank Giannantonio senior VP and CIO.

Galyan's Trading Co. (People in the News).(Joel Silverman resigns)(Brief Article)
March 1, 2002... Joel Silverman resigned as president, COO and a director of Galyan's Trading Co. CEO Robert Mang will assume his duties until a new COO is named.

Best Buy. (People in the News).(executive appointments)(Brief Article)
March 1, 2002... Richard Schulze will step down as CEO of Best Buy on June 30. Brad Anderson, who serves as vice chairman, COO and president, will take over Schulze's duties. Best Buy also named Allen Lenzmeier president and COO, and Michael Keskey president...

The Dress Barn. (People in the News).(promotes David Jaffe)(Brief Article)
March 1, 2002... The Dress Barn promoted David Jaffe to president and CEO. Former CEO Elliot Jaffe will continue as chairman.

Mazel Stores. (People in the News).(appoints Peter Hayes)(Brief Article)
March 1, 2002... Mazel Stores gave its CEO Peter Hayes the added post of chairman. He replaces Reuven Dessler, who will continue as a director.

The Home Depot. (People in the News).(appointments)(Brief Article)
March 1, 2002... The Home Depot appointed Jim Stoddart VP of national accounts, Ron Bogdanovich VP of pro operations, and Dave Krumbholz VP of Home Depot Supply, sales and services.

A&P appointed Elizabeth Culligan president and COO. (People in the News).(Mitchell Goldstein appointed senior VP, CFO)
March 1, 2002... A&P appointed Elizabeth Culligan president and COO, and Mitchell Goldstein senior VP, CFO.

J.C. Penney boosts capex spending.(capital expenditures )(Brief Article)(Statistical Data Included)
March 1, 2002... J.C. Penney Corp. will spend $850 million on capital expenditures in 2002, an increase of 30.8% when compared with the $650 million it spent in 2001. The chain will add 10 new distribution centers this year.