Chain Store Age Executive Fax articles from October 2001

Chain Store Age Executive Fax archives from October 2001

NEW STORES, NEW MARKETS.(Brief Article)
October 5, 2001... Charlotte Russe will open 55 stores in fiscal 2002.... Look for Big Lots to open this month in Bullhead City, Ariz.; Logansport, Ind.; Salem, Ore.; Land O'Lakes, Fla.; and Pontiac, Mich.... Williams-Sonoma, Ann Taylor, Gap, Pottery Barn,...

RESTORATION HARDWARE CHIEF OUTLINES TURNAROUND BLUEPRINT.
October 5, 2001... Gary Friedman, the chief executive of Restoration Hardware, has a plan to lift the company out of the funk it has been in for the last few years. (The upscale home-improvement chain recently widened its losses to $6.2 million in the second...

CONSUMERS RETURN TO SHOPPING MALLS.(Brief Article)
October 5, 2001... At last, some good news for America's shopping centers. Mall foot traffic has nearly returned to the levels seen prior to the events of Sept. 11, according to the National Retail Traffic Index, a survey compiled by RCT Systems. Last Saturday,...

BANANA REPUBLIC WAS TOO 'RUTHLESS'.
October 5, 2001... After its stores were criticized for being too elitist in selection and atmosphere, Banana Republic president Gary Muto is embarking on a mission to change those labels. The Gap division was too limiting in the merchandise it presented to...

CHICO'S OUTLINES COST SAVING PLANS.
October 5, 2001... Women's apparel chain Chico's will reduce store payroll and home-office expenses, reduce its store-maintenance program, cut back on the number of temporary employees in its distribution center and curtail travel as much as possible. It plans to...

PEOPLE IN THE NEWS.(Brief Article)
October 5, 2001... At Bon-Ton: Michael Gleim will retire as vice chairman; James Baireuther was named chief administration officer and vice chairman; Keith Plowman was promoted to senior VP of finance; and Robert Stern was named senior VP of real estate, legal...

KENNETH COLE REDUCING WORK FORCE.(Brief Article)
October 5, 2001... Roughly 10% of the corporate staff of Kenneth Cole will be handed pink slips as part of an intense cost-reduction program. The specialty chain's comps were slipping prior to the Sept. 11 attacks and now it is reviewing all overhead costs, "down...

PIER 1 LOOKS TO EXPAND CARGO DIVISION.(Brief Article)
October 5, 2001... Pier 1 will expand its 18-store children's furniture concept, Cargo Furniture, with eight to 10 units in 2002. It sees the potential to grow the division into a 300-store chain. Pier 1 is developing a new store model for Cargo that can be...

THREE CHAINS SUPPORT GROWTH WITH DCS.(Brief Article)
October 5, 2001... Kohl's plans to build a distribution center in the New York area next year to support its expansion in the Northeast. Another facility is planned for the Los Angeles area, where Kohl's plans to debut in 2003. The chain will enter the Houston...

THIS WEEK'S RETAIL NEWS NUGGETS.(Brief Article)
October 5, 2001... Pottery Barn Kids plans to add 25 to 30 stores in 2002.... bebe will open 25 to 30 stores in fiscal 2002. It is targeting a larger store format, in the 3,500- to 4,500-sq.-ft. range, to support its broader merchandise assortment.... J.C....

NEW STORES, NEW MARKETS.
October 12, 2001... CVS signed leases for 12 more stores in the Chicago area.... Just For Feet will open a store in Lithonia, Ga.... Michaels added a store in Fenton, Mich.... Hickey-Freeman debuts its first ever retail store on Fifth Avenue in Manhattan today....

NO SURPRISE IN SEPTEMBER COMPS, RETAILERS RECORD 0.8% INCREASE.(comparable-store sales)(Brief Article)
October 12, 2001... It was no secret that comparable-store sales for the month of September were going to suffer. The only question was by how much. According to the Bank of Tokyo-Mitsubishi's tally of 78 retailers, comps rose just 0.8% for the month. Forty of the...

PEOPLE IN THE NEWS.(Brief Article)
October 12, 2001... George Ditomassi and Frank Woods were named co-chief executive officers of Shop At Home.... Family Dollar named James Burns VP of transportation; Cynthia Dunham divisional VP of merchandising for soft lines; James Finley divisional VP of store...

SURVEYS SHOW PROMISE FOR THE HOLIDAYS.(Brief Article)
October 12, 2001... Some good news for retailers after poor September sales results. The majority of consumers, 70%, plan to spend about the same as last year this holiday season, according to the Consumer Intentions and Actions Survey. The study, conducted by...

LIMITED, INTIMATE BRANDS OUTLINE PLANS.(Brief Article)
October 12, 2001... A more "disciplined" capital-expenditures program will take flight next year at Limited Inc. The company is scaling back new store growth across many of its banners. It is also dosing a number of stores and remodeling others. Roughly 20 Express...

GAP SEES LOSS IN 3Q, CUTS GROWTH PLANS.(Brief Article)(Statistical Data Included)
October 12, 2001... Gap says it will record an operating loss in the third quarter before the impact of a tax-related charge of roughly $145 million. Gap CFO Heidi Kunz described the company's outlook over the next few quarters as "very cautious." In addition, Gap...

THIS WEEK'S RETAIL NEWS NUGGETS.(Brief Article)
October 12, 2001... L.L. Bean will phase out its Freeport Studio division, which debuted in January 1999. The unit had sales of more than 5% of Bean's $1 billion sales base.... Nordstrom laid off 900 more employees than the 1,600 it had originally reported...

NEW STORES, NEW MARKETS.(Brief Article)
October 19, 2001... H.H. Gregg Appliances & & Electronics opened stores this week in Mentor, North Randall and North Canton, Ohio. Another shop will open in Parma, Ohio, next week. Target added a store in Rock Hill, S.C. Cost Plus World Market opened in...

LECHTERS THROWS IN THE TOWEL, PREPARES TO SHUT DOWN 315 STORES.(Brief Article)(Statistical Data Included)
October 19, 2001... Since last November, home furnishings retailer Lechters has taken a number of steps to turn around its struggling business and return to profitability. First, the company promoted its president and COO David Cully to chief executive. In January...

JACOBSON'S ELIMINATING 225 POSITIONS.(Jacobson Stores)(Brief Article)(Statistical Data Included)
October 19, 2001... Jacobson Stores will record a one-time charge of roughly $600,000 in the third quarter to cover expenses related to a reduction in its work force. The department store chain is eliminating 5.5% of its staff, or 225 positions. The cuts will take...

GLOOMY OUTLOOK FOR HOLIDAY SALES.(Brief Article)(Statistical Data Included)
October 19, 2001... Holiday sales will be flat or decrease roughly 1% this year, according to Carl Steidtmann, chief economist of Deloitte Research. That compares with a 3.1% increase last year. Many surveys have suggested that shoppers will spend an equal amount...

SAFEWAY SELLING NORDSTROM GIFT CARDS.(Brief Article)
October 19, 2001... Nordstrom gift cards will go on sale in Safeway's 1,500 stores in November through the end of the year. The decision by the Seattle-based luxury department store chain is an effort to boost sales, which have been struggling this year. Safeway...

PEOPLE IN THE NEWS.(retail industry executive appointments)(Brief Article)
October 19, 2001... Toys "R" Us elected Roger Farah and Peter Georgescu to its board of directors, Farah is president and COO of Polo Ralph Lauren and has experience with Macy's and Venator Group. Georgescu is chairman emeritus of Young & Rubicam. Michele...

WHAT WOMEN WANT, AT GROCERY STORES.(Brief Article)(Statistical Data Included)
October 19, 2001... Shopping habits and priorities differ between working women and those that work part-time or not at all, according to a survey conducted by the Food Marketing Institute. Women who work at least 20 hours weekly have a strong preference for...

DEB SHOPS WILL SELL ITS BOOK DIVISION.(Brief Article)
October 19, 2001... It no longer makes sense to pursue the dual strategy of owning both apparel and bookstores. That's what Deb Shops president and chief executive Marvin Rounick had to say this week when commenting on the company's decision to sell its 17-store...

TUPPERWARE PARTY IN KROGER STORES.(contract to sell Tupperware products in grocery stores)(Brief Article)
October 19, 2001... Moving further away from its traditional reliance on home parties, Tupperware will place company representatives in 25 Kroger and Fry supermarkets in Ohio, Kentucky and Arizona. Earlier in the year, Tupperware struck a deal with Target to sell...

THIS WEEK'S RETAIL NEWS NUGGETS.(Brief Article)
October 19, 2001... Saks Fifth Avenue will close its store in Dearborn, Mich., in January 2002. The company will continue to operate its off 5th outlet store there. Ethan Allen teamed with London-based MFI Furniture Group to open stores in the United Kingdom....

NEW STORES, NEW MARKETS.(Brief Article)
October 26, 2001... 99 Cents Only Stores opened a shop yesterday in Montclair, Calif.... Sears will open in three weeks in Pueblo, Cola. Ethan Allen added stores in Overland Park, Kan., and Langhorne, Pa.... FoodALess will open Nov. 14, in Los Angeles' Westlake...

DEPARTMENT STORE MODEL FAILED, SEARS TO CUT JOBS, REVAMP STORES.(Brief Article)
October 26, 2001... Sears is in a pickle, to use a baseball term. It's a department store, but doesn't want to be. Now, it's making changes reflective of discount stores, but doesn't want to be known as a discounter. "We're moving away from a traditional...

FBI ENCOURAGES MALLS TO STAY OPEN.(during Halloween, says terrorism threat is hoax)(Brief Article)
October 26, 2001... Don't let rumors and misinformation get in the way of Halloween planning. Paul McCabe, a supervising special agent with the U.S. Federal Bureau of Investigation, told the nation's shopping malls in a conference call this week that a...

TOPS MARKETS ADDING BANKS IN 70 STORES.(Canadian Imperial Bank of Commerce in-store branches)(Brief Article)
October 26, 2001... Tops Markets teamed with Toronto-based Canadian Imperial Bank of Commerce to bring banking services to at least 70 of its stores in New York and Ohio. The new agreement spurred M&T Bank to pull its branch offices out of eight Tops supermarkets....

PEOPLE IN THE NEWS.(executive appointments)(Brief Article)
October 26, 2001... Luz Carrillo was named VP of direct marketing of dELiA *s. She recently was director of marketing of Williams-Sonoma. The company also named Hope Wolman VP of marketing and strategic alliances; Julie Kurtzmann VP of public relations and...

Amazon.com.(posts third quarter losses)(Brief Article)(Statistical Data Included)
October 26, 2001... Amazon.com posted losses of $170 million in its third quarter, compared with losses of $241. million in the prior-year period. Revenues were relatively flat at $639 million....

RADIOSHACK CUTS JOBS, POSTS 3Q RESULTS.(Brief Article)
October 26, 2001... In an effort to reduce expenses, RadioShack is taking into account more than 500 cost-saving suggestions made by its retail store employees. The consumer-electronics retailer says it eliminated 808 positions, including 10 senior executive...

DEKOR LOOKS TO LIQUIDATE INVENTORY.(Brief Article)
October 26, 2001... Dekor has not paid. its suppliers and is exploring options to sell the company or file for bankruptcy The decision comes just 18 months after the home-furnishings retailer made its debut. Dekor shuttered its three stores in Buckhead,...

IMRA: HALLOWEEN SPENDING ON TUE RISE.(International Mass Retail Association)(Brief Article)(Statistical Data Included)
October 26, 2001... Consumers plan to spend an average of $61 on Halloween-related merchandise this year, according to a survey by the International Mass Retail Association. That compares with an average of $43 last year. Shoppers with children are expected to...

TANNING BOOTHS HIT WAL-MART STORES.(Brief Article)
October 26, 2001... A partnership between Wal-Mart and Celsius Franchising is bringing tanning salons to the retailer's supercenters. One salon opened in a Salina, Kan., supercnter last month and a dozen others will open within the next six monthe. A Celsius...

Hennea & Mauritz is rumored to be in talks.(Brief Article)
October 26, 2001... Hennea & Mauritz is rumored to be in talks to acquire five of the 19 former Marks & Spencer stores that were purchased by Galeries Lafayette.

Electronics Boutique acquired Game it!(Brief Article)
October 26, 2001... Electronics Boutique acquired Game it!, a Kempten, Germany-based retailer of video games, for an undisclosed sum.

DJM Asset Management.(Brief Article)
October 26, 2001... DJM Asset Management will dispose of the leases of 315 Lechters stores.

Marshalls, a division of TJX Cos.(Philadelphia, Pennsylvania)(Brief Article)
October 26, 2001... Marshalls, a division of TJX Cos., opened a 1 million-sq.-ft distribution center in northeast Philadelphia. The facility will serve 580 Marshalls stores.

Albertson's expanded its on-line grocery division.(San Diego, California)(Brief Article)
October 26, 2001... Albertson's expanded its on-line grocery division to the San Diego market.

Best Buy was given the green light.(Best Buy Company)(Future Shop Ltd.)(Brief Article)
October 26, 2001... Best Buy was given the green light by Canadian regulators to buy Future Shop.

Blockbuster recorded losses of $224.9 million.(Blockbuster Inc.)(Brief Article)(Statistical Data Included)
October 26, 2001... Blockbuster recorded losses of $224.9 million in its third quarter, compared with losses of $19.3 million in the year-ago period. The wider losses were caused by eliminating some VHS tapes and a change in amortization. Same-store sales were up...

Bebe stores' net income rose.(Bebe Stores Inc.)(Brief Article)(Statistical Data Included)
October 26, 2001... Bebe stores' net income rose 12.1% to $6.5 million in the first quarter. Same-store sales were up 2.6% while total sales rose 18.7% to $73.6 million.