Chain Store Age Executive Fax articles from March 2005

Chain Store Age Executive Fax archives from March 2005

New stores, new markets.(Brief Article)
March 4, 2005... A recently relocated Sears will be the first store to open at the new Imperial Valley Mall in El Centro, Calif. The one-level, 130,000-sq.-ft. space will open tomorrow and is twice as large as its former location at El Centro Mall. New product...

February's pleasant surprise: across-the-board sales strength.(Industry Overview)
March 4, 2005... February brought retailers the strongest gains since May 2004, according to the International Council of Shopping Centers (ICSC). The group's tally of same-store sales increased 4.9% in February, strong across the board and much better than the...

Ingles Markets Inc.(People In The News)(Brief Article)
March 4, 2005... Ingles Markets Inc. CFO and VP of finance, Brenda S. Tudor, has resigned from her post, effective March 18. Tudor served 20 years with Ingles and will stay on part-time until a replacement is chosen....

The Home Depot.(People In The News)(Tom Ridge, former Secretary of the Department of Homeland Security)(Brief Article)
March 4, 2005... The Home Depot named Tom Ridge, former Secretary of the Department of Homeland Security, to its board of directors. The appointment brings the size of the retailer's board to 13 directors....

Circuit City.(Circuit City Stores Inc.)(Brief Article)
March 4, 2005... Circuit City executive VP and COO John W. Froman has resigned. The chain named George D. Clark Jr. as president of Circuit City retail stores. He most recently was general merchandise manager for technology. The retailer also named Douglas T....

Pep Boys.(People In The News)(Robert H. Hotz appointed at Pep Boys-Manny, Moe and Jack)(Brief Article)
March 4, 2005... Automotive-aftermarket chain Pep Boys has appointed Robert H. Hotz to its board of directors and also to the company's audit committee. Hotz holds the roles of senior managing director and head of investment banking at Houlihan Lokey Howard &...

The Cato Corp.(People In The News)(Brief Article)
March 4, 2005... The Cato Corp. has named William H. Grigg and D. Harding Stowe to its board of directors....

Ann Taylor Stores.(People In The News)(Andrienne Lazarus)(Brief Article)
March 4, 2005... Adrienne Lazarus was named executive VP of Ann Taylor Stores merchandising and design. She was most recently senior VP and general merchandising manager for Ann Taylor Stores. Donna Noce was promoted to executive VP of Ann Taylor Loft...

Federated points to efficiencies in May deal.(Federated Department Stores Inc. and May Department Stores Co. to merge)(Brief Article)
March 4, 2005... Federated Department Stores and The May Department Stores have put an end to weeks of speculation. The two chains plan to merge in an historic deal valued at $17 billion, comprised of $11 billion cash and $6 billion in debt that Federated will...

Movie gallery brings offer to Canada chain.(Movie Gallery Inc. to acquire VHQ Entertainment)(Brief Article)
March 4, 2005... While it works to finalize its acquisition of Hollywood Entertainment, Movie Gallery has marked another video-rental chain for takeover--Canadian rival VHQ Entertainment, which operates 61 stores in Alberta and Saskatchewan. Movie Gallery will...

PriceSmart settlement ends shareholder suits.(Brief Article)
March 4, 2005... PriceSmart has put an end to litigation related to its restatement of financial reports in late 2003. PriceSmart will pay $2.35 million to settle a shareholder lawsuit in federal court in California. The San Diego-based retailer said about 80%...

This week's retail news nuggets.(briefs)(Brief Article)
March 4, 2005... Pathmark Stores is in tentative talks to be sold to its major supplier, C&S Wholesale Grocers Inc., published reports say. Analysts estimate the supermarket chain to be worth $800 to $900 million... Circuit City says it has cut its ties with...

New stores, new markets.(Barnes & Noble Inc., Best Buy Company Inc., J.C. Penney Corporation Inc.)(Brief Article)
March 11, 2005... J.C. Penney opened three new stores on March 9: at the Imperial Valley Mall in El Centro, Calif.; at Eastdale Mall in Montgomery, Ala.; and at Greenbrier Mall in Chesapeake, Va.... Best Buy will open a 30,000-sq.-ft. store in Tupelo, Miss., in...

Private-investment group offers $5 billion for all of Toys 'R' Us.(Cerberus Capital Management LP)(Brief Article)
March 11, 2005... A private-investment group led by Cerberus Capital Management LP offered to buy Toys "R" Us Inc. for about $5 billion, according to the Wall Street Journal. The bid was placed last month, but garnered a cool response from Toys "R" Us. However,...

Kroger may bid for Winn-Dixie stores.(Winn-Dixie Stores Inc.'s takeover)(Brief Article)
March 11, 2005... The Kroger Co. may be considering placing a bid to buy a large chunk of the recently bankrupted Winn-Dixie, according to a report in the South Florida Business Journal. Under Kroger's plan, the Cincinnati-based grocery giant initially would...

Circuit City rebuffs highfields offer.(Circuit City Stores Inc.'s stand on takeover bid by Highfields Capital Management LP)(Brief Article)
March 11, 2005... The directors of Circuit City Stores Inc. voted to decline last month's unsolicited $3.25 billion acquisition bid from Highfields Capital Management LP. The board said it had unanimously determined that further exploring the transaction...

The Bon-Ton Stores.(People In The News)(Robert R. Sears appointed )(Brief Article)
March 11, 2005... The Bon-Ton Stores announced that Robert R. Sears has been appointed senior VP, general merchandise manager for men's and home, reporting directly to David Zant, vice chairman, chief merchandising officer. Sears was most recently with Saks...

Wal-Mart Stores' Robert Connolly, executive VP of marketing and consumer communications for the Wal-Mart Stores Division, will retire at the end of the year, according to the company.(People In The News)(Brief Article)
March 11, 2005... Wal-Mart Stores' Robert Connolly, executive VP of marketing and consumer communications for the Wal-Mart Stores Division, will retire at the end of the year, according to the company. Connolly joined Wal-Mart in 1989 as apparel merchandise...

Retail Industry Leaders Association (RILA).(People In The News)(W. Stephen Cannon joined)(Brief Article)
March 11, 2005... W. Stephen Cannon has joined the Retail Industry Leaders Association (RILA) as outside general counsel. Cannon was former general counsel of Circuit City....

Blockbuster.(People In The News)(Peter Bassi named as one of the board of directors)(Brief Article)
March 11, 2005... Blockbuster has named Peter Bassi to its board, to serve on the Audit and Compensation committees. Bassi retired from his post as chairman of Yum! Restaurants International last month....

RadioShack.(People In The News)(David Barnes appointed as chief financial officer)(Brief Article)
March 11, 2005... RadioShack has named David Barnes as CFO, replacing interim CFO David Johnson. Barnes has served as CFO at Molson Coors Brewing Co.'s U.S. unit since 2002....

Delhaize Group.(People In The News)(Jacques de Vaucleroy, Hugh Farrington and Luc Vansteenkiste appointed as directors)(Brief Article)
March 11, 2005... At its May 26 shareholders meeting, Delhaize Group will propose the appointment of Jacques de Vaucleroy, Hugh Farrington and Luc Vansteenkiste to three-year terms as directors. They will replace three departing directors: Baron de Cooman...

Kmart to convert 400 stores to sears.(Kmart Holding Corp., Sears, Roebuck and Co.)(Brief Article)
March 11, 2005... Kmart Holding Corp. will convert 400 stores to a Sears format in the three years following its merger with Sears, Roebuck and Co., reports say. The locations marked for conversion comprise more than one-quarter of Kmart's chain of 1,480...

Publix, Dominick's introduce new formats.(Publix Super Markets Inc.'s Publix Sabor store and Dominick's Supermarkets Inc.'s Lifestyle)(Brief Article)
March 11, 2005... Publix Super Markets is rolling out Publix Sabor, the grocery chain's Hispanic-themed supermarket, to two existing locations in Kissimmee and Hialeah, Fla. The stores will open in early May and feature more Hispanic food and grocery categories...

Staples to sell its wares in ahold stores.(Ahold USA Inc.)(Brief Article)
March 11, 2005... Staples and Ahold USA forged an alliance under which the office-products retailer will sell its goods in Staples-branded aisles at Ahold supermarkets. Staples will make its debut at Ahold's 550 Stop & Shop and GiantLandover supermarkets in...

This week's retail news nuggets.(Carrefour S.A.'s divestments, ShopKo Stores Inc.'s remodelling expenditure and Bruno's Supermarkets's store closures)(Brief Article)
March 11, 2005... Wal-Mart employees at a store in Windsor, Ontario, have voted 167 to 59 against being unionized by the United Food and Commercial Workers Union (UFCW).... Carrefour is exiting the Japanese market with the sale of its eight hypermarkets there...

New stores, new markets.(new store openings )(Brief Article)
March 18, 2005... A new CVS store will open on March 22 in Lakewood Ranch, Fla., at the intersection of State Road 64 and Lakewood Ranch Road.... Target was the first retailer to open its doors at the new Edgewood Retail District on Moreland Avenue in southeast...

Toy Story III: trio of bidders buys all of Toys "R" Us for $6.6 billion.(Bain Capital Inc., Kohlberg, Kravis, Roberts & Co., and Vornado Realty Trust)(Brief Article)
March 18, 2005... Toys "R" Us--all of it--has agreed to be sold. Takeover specialists Bain Capital Partners and Kohlberg Kravis Roberts (KKR) along with Vornado Realty Trust will pay $6.6 billion for the entire worldwide operations of the chain. The trio will...

Neiman Marcus tests the market for sale.(retail mergers)(Brief Article)
March 18, 2005... Luxury goods-retailer Neiman Marcus may be the next object of a bidding battle in the mania of retail mergers. The Dallas-based company said it is "exploring various strategic alternatives to enhance shareholder value." However, it would not...

PriceSmart backs off of its bid for privacy.(Sarbanes-Oxley Act of 2002)(Brief Article)
March 18, 2005... Just a few days after paying $2.35 million to bring an end to a shareholder lawsuit, San Diego-based PriceSmart revealed frustration with the high costs of filing reports with the Securities and Exchange Commission and complying to...

Ann Taylor Loft.(People In The News)(Kay Krill has got additional post as chief executive)(Brief Article)
March 18, 2005... Ann Taylor named Kay Krill to the additional post of CEO. She will take over the role from Chairman Patrick Spainhour in October. Krill is president of the company and is credited with turning Ann Taylor Loft into the chain's most profitable...

Tweeter Home Entertainment Group Inc. president and CEO Jeffrey Stone has left his post to assume the same roles at Tivoli Audio LLC, a consumer-electronics manufacturer of which Tweeter owns a 25% stake.(People In The News)(Joe McGuire to serve interim)(Brief Article)
March 18, 2005... Tweeter Home Entertainment Group Inc. president and CEO Jeffrey Stone has left his post to assume the same roles at Tivoli Audio LLC, a consumer-electronics manufacturer of which Tweeter owns a 25% stake. Stone will remain on Tweeter's board...

The Wet Seal, Inc.(People In The News)(Joseph Deckop resigned)(Brief Article)
March 18, 2005... Joseph Deckop has resigned from his post as executive VP of The Wet Seal, Inc., reportedly to pursue other interests. He joined the company in August 2003 as executive VP of central planning and allocation, and briefly served as CEO following...

Select Comfort Corp.(People In The News)(appointed Kathryn Roedel to replace retiring Greg Kliner)(Brief Article)
March 18, 2005... Kathryn Roedel will replace the retiring Greg Kliner as senior VP of operations at bed retailer Select Comfort Corp., as of April 4....

J. Jill Group, Inc. has appointed John Fiske to the position of senior VP of human resources.(People In The News)
March 18, 2005... J. Jill Group, Inc. has appointed John Fiske to the position of senior VP of human resources. Fiske joins J. Jill with more than 16 years of HR experience from retailers such as Abercrombie & Fitch, Kenneth Cole, The Timberland Co., May...

GameStop Corp.(People In The News)(Joe DePinto appointed to succeed promoted Dan DeMatteo)(Brief Article)
March 18, 2005... GameStop Corp. CEO Dan DeMatteo has been named vice chairman of the video-game retailer. Joe DePinto was named to succeed DeMatteo.

Target to Congress: get tough on shoplifting.(Chris Nelson on asset protection to subcommittee on Crime, Terrorism and Homeland Security)(Brief Article)
March 18, 2005... Shoplifting rings not only take $30 billion from retail coffers each year, they also pose a threat to consumer health. That's the message Chris Nelson, Target Corp.'s director of asset protection delivered to Congress's House Judiciary...

Retail Ventures plans IPO for DSW shoe chain.(initial public offering for DSW Shoe Warehouse)(Brief Article)
March 18, 2005... Retail Ventures is pursuing an initial public offering for its wholly owned DSW Shoe Warehouse. The 175-store DSW is expected to complete its IPO in the first half of the year. The move will allow Retail Ventures to focus on its other...

Office Depot and AutoZone change at the top.(appointed Steve Odland, appointed J.R. Hyde III and William C. Rhodes III)(Brief Article)
March 18, 2005... The nation's No. 2 office-products specialty chain has a new chief. Office Depot hired Steve Odland, 46, as chairman and CEO. Odland has been chairman, president and CEO of AutoZone. Neil Austrian, who has been interim CEO of Office Depot,...

This week's retail news nuggets.(Brown Shoe Company Inc. to acquire Bennett Footwear Group, Sears, Roebuck and Co. searching for executive, Grocery Outlet Inc. to open new stores)(Brief Article)
March 18, 2005... Brown Shoe Co. will acquire Boston-based Bennett Footwear Group LLC for $205 million in a deal expected to close in May.... GE Consumer Finance and Wal-Mart are launching two credit cards, one for business members of Sam's Club and one for...

New stores, new markets.(Brief Article)
March 25, 2005... A new Nordstrom store will replace a Lord & Taylor at the Cherry Creek Shopping Center in Denver. The approximately 120,000-sq.-ft. space is scheduled to open in fall 2006, and will be Nordstrom's third full-line Colorado store.... Barnes &...

Ultimate electronics to close nearly half of its locations.(Brief Article)
March 25, 2005... Ultimate Electronics plans to close 30 stores, nearly half of its total store count of 62, by June 30. As a result, the company will terminate 900 store employees and 65 central office employees, representing 28% of the retailer's work force....

Wal-Mart probe settled but tests remain.(Brief Article)
March 25, 2005... Wal-Mart Stores has put an unpleasant incident behind it. By paying $11 million in fines, Wal-Mart settled a federal probe into its use of illegal immigrants as janitors in 21 states, and avoided criminal charges. Although the illegal...

Shareholders approve Sears-Kmart merger.
March 25, 2005... It's official. Shareholders of Sears, Roebuck and Co. and Kmart Holding Corp. approved the merger of the two companies. Sears Holdings stock is expected to start trading on the Nasdaq National Market under the ticker symbol "SHLD" on March 28....

Winn-Dixie Stores, Inc. has named Tom Robbins as senior VP of merchandising, effective March 28.(People In The News)(Brief Article)
March 25, 2005... Winn-Dixie Stores, Inc. has named Tom Robbins as senior VP of merchandising, effective March 28. Robbins' resume includes experience at The Kroger Co., Price Chopper Supermarkets, A&P, Thriftway Food & Drug and Delchamps, Inc....

Bruce Dale has been named CEO and president of Duckwall-ALCO Stores, Inc.(People In The News)(Brief Article)
March 25, 2005... Bruce Dale has been named CEO and president of Duckwall-ALCO Stores, Inc. Most recently, Dale served 10 years with Michaels Stores, eight of which he spent as president of Michaels subsidiary Aaron Bros. Art & Framing....

Jo-Ann Stores, Inc.(People In The News)(Jacki Hampton appointed)(Brief Article)
March 25, 2005... Jo-Ann Stores, Inc. has appointed Jacki Hampton as real estate director for the retailer's new West Coast office. She will execute Jo-Ann's rapid expansion plans for the West Coast and also oversee area stores....

Wal-Mart has named COO Andy Bond as the new president of its U.K. grocery unit, Asda.(People In The News)(Brief Article)
March 25, 2005... Wal-Mart has named COO Andy Bond as the new president of its U.K. grocery unit, Asda. He replaces Tony DeNunzio, who left Asda to become chairman of Dutch retailer Vendex KBB BV....

Fred's Inc.(People In The News)(Mary McNabb, Gerald Thompson added to board)(Brief Article)
March 25, 2005... Fred's Inc. has named Mary McNabb and Gerald Thompson to its board of directors, bringing the board total to seven members. McNabb and Thompson each will fill a two-year term, effective April 15....

Hanover Direct appointed John Swatek to serve as its senior VP, CFO and treasurer beginning in April.(People In The News)(Brief Article)
March 25, 2005... Hanover Direct appointed John Swatek to serve as its senior VP, CFO and treasurer beginning in April. Swatek most recently served as VP and controller of Linens 'n Things, where he held various positions beginning in 2001. Swatek succeeds...

Foodland courts buyers for NZ business.(Brief Article)
March 25, 2005... Australian grocer Foodland Associated Ltd. put itself up for sale after South Africa's Metcash Trading Ltd. made a hostile bid for the company, according to a Wall Street Journal report. Foodland says it is in discussions with several suitors...

Firm buys stakes in Pathmark, Wild Oats.(Pathmark Stores Inc., Yucaipa Cos.)(Brief Article)
March 25, 2005... Pathmark Stores Inc. received $150 million in cash from Yucaipa Cos. LLC, a Los Angeles-based private-equity firm. Yucaipa will buy 20 million newly issued shares of Pathmark, representing about 40% of the grocer's outstanding common stock. The...

Krispy Kreme in Wal-Mart Stores is a no-go.(Brief Article)
March 25, 2005... Krispy Kreme Doughnuts pulled the plug on a store-within-a-store pilot it began with Wal-Mart Stores in September 2003. As part of the program, the company had operated six bakeries offering hot doughnuts in Wal-Mart locations. Five of them, in...

This week's retail news nuggets.(Brief Article)
March 25, 2005... Unilever NV sued Ahold NV's Dutch unit Albert Heijn for allegedly copying the packaging of Unilever's branded products. Ahold says the suit is baseless. Heijn, one of Unilever's biggest customers, had temporarily pulled Unilever products from...