Chain Store Age Executive Fax articles from October 2004

Chain Store Age Executive Fax archives from October 2004

New stores, new markets.(Brief Article)
October 1, 2004... Amazing Savings opened in a former Odd Job site in Muhlenberg Township, Pa. Odd Job sold 90% of its shares to Amazing Savings last year.... Big Y Foods is adding a store this month at the Groton (Conn.) Shoppers Mart.... Pamida, a division of...

After the storms: Halloween is expected to boost spending.(Brief Article)
October 1, 2004... Maybe the allure of ghosts and goblins will jumpstart the lackluster fall spending season, which has been besieged by four hurricanes (to date) and warm weather across the nation. A recent study conducted by BIGresearch, on behalf of the...

Kmart to boost 401(K) contributions.(Kmart Corp.'s employees to enjoy increased retirement benefits)(Brief Article)
October 1, 2004... Following three consecutive quarters of profits, Kmart will increase employee retirement benefits next year, a move that is expected to project a better corporate image. Beginning next January, Kmart will match 401(k) employee contributions on...

Christopher & Banks acquires Acorn.(Gilmore Brothers Inc.)(Brief Article)
October 1, 2004... Christopher & Banks will spend $7 million in cash to buy Gilmore Bros., which operates 20 women's apparel stores across nine states under the Acorn banner. Bill Prange, chairman and CEO of Christopher & Banks, says the company first became...

Marshall Field's.(People In The News)(Brief Article)
October 1, 2004... Linda Ahlers will retire at the end of the year as president of Marshall Field's, which was acquired by May Co. Taking her place will be Frank Guzzetta, who now serves as president of May's Hecht's/Strawbridge's division....

Rite Aid.(People In The News)(Rite Aid Corp.)(Brief Article)
October 1, 2004... Rite Aid named Anthony Bellezza senior VP of internal assurance and chief compliance officer. He most recently served with Ernst & Young....

Zales Corp.(People In The News)(Brief Article)
October 1, 2004... Zales Corp. elected Sue Gove, its executive VP and COO, to its board of directors. She joined Zales in 1980 in the accounting department....

Kohl's.(People In The News)(Kohl's Corp.)(Brief Article)
October 1, 2004... Kohl's named Peggy Eskenasi as executive VP of product development, a new position. She most recently served as president of private-label brand development at Saks, Inc.

H.E. Butt adjusts head count.(H.E. Butt Grocery Co.)(Brief Article)
October 1, 2004... H.E. Butt Grocery Co. is hiring some 300 employees to brace for the holiday rush. However, it also will lose about 50 administrative positions as part of a realignment of 100 posts, according to a report in the San Antonio Express-News. The...

In China, Tiffany adds second store.(Tiffany and Co.)(Brief Article)
October 1, 2004... Tiffany & Co. opened on the ground floor of the Jiu Guant department store in Shanghai, China. The new boutique marks Tiffany's second location in the country. The first, a boutique in The Peninsula Palace Hotel in Beijing, opened in December...

KB Toys 'wises' up, teams with WiseBuys.(Brief Article)
October 1, 2004... Five months after it sold its e-commerce operations, KB Toys has formed a partnership with WiseBuys Stores, a department store chain with four locations in rural northern New York. Under terms of the deal, KB Toys will be the exclusive...

Passage of tax bill delights RILA.(Retail Industry Leaders Association)(Brief Article)
October 1, 2004... The Retail Industry Leaders Association (RILA) applauded the passage of legislation described as middle-income tax relief. RILA says the bill is expected to put billions of dollars in consumers' pockets for additional retail purchases. The bill...

This week's retail news nuggets.(Macmoda)(Brief Article)
October 1, 2004... Kirkland's lost at least $1.1 million in sales due to hurricane-induced store closings. Hurricanes Charley, Frances and Ivan affected its stores in Florida, Alabama, Louisiana, Mississippi and Georgia over the past six weeks, with the most...

New stores, new markets.(Brief Article)
October 8, 2004... Home-furnishings chain Room & Board has leased space in Moonachie, N.J. The company also will open early next year in New York City's SoHo neighborhood.... Bass Pro Shops opened at the Colonial Mall in Myrtle Beach, S.C.... Next month, Wise...

Shoppers stock up for storms but September sales grow just 2.4%.(Illustration)
October 8, 2004... September battered retailers with the one-two punch of a hurricane-stricken Southeast and a disappointing back-to-school season, though some sectors such as drug stores and warehouse clubs made out well. Retail sales climbed a relatively weak...

A search is under way for a successor to Bruce Nelson, who resigned from the post of Office Depot CEO.(People In The News)(Brief Article)
October 8, 2004... A search is under way for a successor to Bruce Nelson, who resigned from the post of Office Depot CEO. In the meantime, director Neil Austrian, a former president of the National Football League, will serve as interim chairman and CEO....

Tractor Supply Co.(People In The News)(Jim Wright appointed)(Brief Article)
October 8, 2004... Jim Wright, president and COO of Tractor Supply Co., has assumed the additional post of CEO....

AutoZone Inc.(People In The News)(appointments and promotions)(Brief Article)
October 8, 2004... AutoZone Inc. hired Jim Shea to be its new executive VP of merchandising and marketing. He joins AutoZone from Party City, where he served as CEO. Additionaly, AutoZone made three promotions: Senior VP and CFO Mike Archbold will become...

Gottschalks.(People In The News)(Donald Engelman appointed)(Brief Article)
October 8, 2004... Donald Engelman was appointed VP and general merchandise manager of Gottschalks' home store division....

Stater Bros. Markets.(People In The News)(Donald Baker appointed)(Brief Article)
October 8, 2004... Donald Baker joined Stater Bros. Markets from May Department Stores as the grocer's new president.

Filene/Kaufmann.(People In The News)(appointments)(Brief Article)
October 8, 2004... ... In a separate development, Michael Geraghty, executive VP of finance and merchandise information systems for the Filene's/Kaufmann's division of May Department Stores, will become the division's chairman effective Oct. 31. He will replace...

Holiday retail outlook is mixed bag.(Brief Article)
October 8, 2004... According to a survey on holiday buying by The NPD Group, nine out of 10 consumers said they will spend the same or less when they shop for the holidays than they did in 2003. Americans plan to spend an average of $655 on holiday purchases,...

Wal-Mart outlines 2005 expansion plans.(Brief Article)
October 8, 2004... Wal-Mart Stores Inc. plans to open 40 to 45 discount stores and 240 to 250 supercenters in its upcoming fiscal year, which begins Feb. 1, 2005. The company expects that relocations or expansions of current stores will account for approximately...

NRF blasts national sales-tax proposal.
October 8, 2004... In an open letter, the National Retail Federation (NRF) beseeched Congress to shoot down a proposed national retail sales tax, citing potential damage to employment, consumer spending and the economy. The Fair Tax Act of 2003 would replace the...

This week's retail news nuggets.(Permira Funds)(Brief Article)
October 8, 2004... Royal Ahold agreed to sell its Spanish retail operations to Permira Funds, a Madrid-based private-equity firm, for about $841 million.... Sears, Roebuck and Co. will remodel 97 full-line stores with multilingual signage and other elements to...

Best Buy tailors stores to shopper segments.(Best Buy Company Inc.)(Brief Article)
October 14, 2004... Consumer electronics retailer Best Buy has reached out to five specific categories of shoppers and tailored the merchandise mix at select stores to meet their needs. At 68 stores in the greater Los Angeles, San Francisco and San Diego areas,...

Pleasant environment trumps low prices.(Brief Article)
October 14, 2004... A large number of retail consumers, 45%, say that getting the lowest price on household commodities is less important to them than being in a store that compensates with other values. A recent study conducted by New York City-based WSL...

Solid holiday 2004 outlook, but lower than 2003.(Brief Article)
October 14, 2004... Despite a 15% reduction in initial unemployment claims, retailers should not expect the same explosive growth this holiday season as seen in 2003, according to Deloitte Research. While the decrease and an indication of further claims declines...

Borders warns on 3q, Barnes & Noble affirms.(Borders Group Inc.)(Barnes & Noble Inc.)(Brief Article)
October 14, 2004... Borders Group, Inc. revised its third-quarter earnings forecast this week due to slumping sales. The retailer now expects to report a loss of roughly 2 cents per share, down from its prior forecast of earnings of as much as 3 cents per share....

Shaw's plans e-grocer service.(Shaw's Supermarkets Inc.)(Brief Article)
October 14, 2004... Shaw's Supermarkets will soon be competing in the digital world with its store rivals. However, the grocer is not launching an e-grocer service because it sees opportunity for large profits, but rather because it wants to build an Internet...

Former ahold executives reach SEC agreement.(Securities and Exchange Commission)(Royal Ahold N.V.)(Brief Article)
October 14, 2004... Royal Ahold and three of its former executives, including former CEO Cees van der Hoeven, reached final settlements with U.S. Securities and Exchange Commission this week over charges related to a $1 billion overstatement of earnings. Van der...

At Gap, three-in-one credit card.(Gap Inc.)(Brief Article)
October 14, 2004... Gap, Inc. is now offering consumers a private-label credit card that can be used across all three of its retail formats to enhance loyalty. The card features a consolidated monthly statement and can be used on line at all three of its...

Apple launches mini retail store format.(Apple Computer Inc.)(Brief Article)
October 14, 2004... This Saturday, Apple will open six smaller versions of its retail store concept as part of the computer manufacturer and retailer's plan to expand across the country. The company will open stores in Tukwila, Wash.; Bridgewater and Rockaway,...

Lawrence Jackson resigned as president and COO of Dollar General this week to head up the human resources division of WalMart Stores, Inc.(People In The News)(chief operating officers)(Brief Article)
October 14, 2004... Lawrence Jackson resigned as president and COO of Dollar General this week to head up the human resources division of WalMart Stores, Inc. He also will serve as a strategic adviser to the retailer's senior management team. Jackson, who succeeds...

Pacific Sunwear of California, Inc.(People In The News)(Brief Article)
October 14, 2004... Seth Johnson will join Pacific Sunwear of California, Inc. as COO in November. He most recently served as COO and a director of Abercrombie & Fitch. Johnson will assume the role of chief executive at Pacific Sunwear on April 1, 2005. At that...

Guitar Center.(People In The News)(Guitar Center Management)(Brief Article)
October 14, 2004... Marty Albertson, co-CEO of specialty retailer Guitar Center, will become chairman and sole CEO in the fourth quarter. Larry Thomas, presently chairman and co-chief executive, will serve as chairman emeritus and chairman of the Guitar Center...

L.L. Bean.(People In The News)(L.L. Bean Inc.)(Brief Article)
October 14, 2004... L.L. Bean appointed Ed Howell as its chief retail officer and a member of the office of the president. He spent nine years with the company, from 1987 through 1996, serving as VP, general manager of men's apparel, footwear and the L.L. Bean...

Hecht's/Strawbridge.(People In The News)(Hecht's)(Brief Article)
October 14, 2004... Jeffrey Kantor was promoted to chief executive and president of Hecht's/Strawbridge's, the Washington, D.C.-based division of May Department Stores Co., effective in November. He succeeds Frank Guzzetta, who is joining Marshall Field's, which...

Family Dollar Stores.(People In The News)(Family Dollar Stores Inc.)(Brief Article)
October 14, 2004... Family Dollar Stores promoted Elizabeth Austin to VP of information technology operations. She has been with the retailer's IT department since October 1998, most recently in the role of divisional VP of information technology operations....

Costco.(People In The News)(Costco Companies Inc.)(Brief Article)
October 14, 2004... Costco elected Susan Decker, CFO and executive VP of finance and administration of Yahoo, to its board of directors....

Nash Finch Co.(People In The News)(Brief Article)
October 14, 2004... Nash Finch Co. appointed LeAnne Matthews Stewart as senior VP, CFO and treasurer, effective immediately. She replaces Robert Dimond, who has resigned and will serve as a consultant to the company during the transition and on special projects....

This week's retail news nuggets.(Brief Article)
October 14, 2004... Roughly 8,500 unionized employees at 70 Kroger supermarkets in southwest Ohio, northern Kentucky and southeast Indiana rejected the retailer's latest contract offer. The associates also authorized their union to call a strike if necessary. The...

New stores, new market.(Brief Article)
October 14, 2004... Barnes & Noble will open in Kingston, N.Y., on Nov. 3 at Ulster Crossing. The chain also will open its newly expanded store at Ridgehaven Mall in Minnetonka, Minn., at the same time.... Footwear chain DSW, a division of Retail Ventures, will...

Children's place to buy Disney stores, deal merges kids clothes with cartoon icons.(Brief Article)
October 21, 2004... For no money down, The Children's Place was able to acquire 313 retail stores from Walt Disney Co. Instead of buying the Disney Stores outright, the children's apparel retailer said this week that it would commit $50 million to upgrade and...

Kmart hires restaurant veteran as CEO.( )(Brief Article)
October 21, 2004... Julian Day stepped down as chief executive and president of Kmart this week, and was replaced by Aylwin Lewis, who most recently served as president, chief multi-branding and operating officer of Yum Brands. Lewis spent 13 years at Yum Brands,...

Mass trumps class in jewelry sales.(Brief Article)
October 21, 2004... Wal-Mart is the leading seller of jewelry in the nation without selling such goods to the prime target market for jewelry: high-income women aged 25 to 54 years. According to a recent report by Stevens, Pa.-based Unity Marketing, the discount...

California closets, Costco expand partnership.(Brief Article)
October 21, 2004... Costco has partnered with California Closets in a move that will see the home-storage company open in-store boutiques within the wholesale club's locations nationwide. The move follows a 12-month test at various Costco locations across the...

Weekly comp sales slow slightly.(Brief Article)
October 21, 2004... Retail chain stores sales decreased by 0.2% for the week ending Oct. 16, compared to the prior week, according to the International Council of Shopping Centers (ICSC)-UBS Weekly Chain Store Sales Index. On a year-over-year basis, the measure of...

Blockbuster cuts DVD rental costs.(Brief Article)
October 21, 2004... Blockbuster quickly responded to a reduction in Netflix' monthly subscription fee by moving to lower its own price for the service. The specialty chain said it would lower the price of its on-line rental service to $17.49 per month. The move...

Holiday web sales growth slows to 20%.(Brief Article)
October 21, 2004... On-line retail sales this holiday season will increase by 20% to $13.2 billion, according to Cambridge, Mass.-based Forrester Research. The surge represents a decrease in year-over-year growth rate, as last year's growth over 2002 was 31%....

This week's retail news nuggets.(Brief Article)
October 21, 2004... Foot Locker, Inc. is spending an undisclosed sum to acquire 11 stores in Ireland from Champion Sports Group Ltd. It plans to operate the stores, located in highly trafficked areas, principally in the Dublin market, under the Foot Locker banner....

Safeway elected two new board members, replacing an equal number of directors who have resigned.(People In The News)(Brief Article)
October 21, 2004... Safeway elected two new board members, replacing an equal number of directors who have resigned. The grocer elected Janet Grove, vice chairman of Federated Department Stores, and Mohan Gyani, a former CEO and president of AT&T Wireless Mobility...

Kroger promoted Jay Cummins to president of its Food4Less division.(People In The News)(Brief Article)
October 21, 2004... Kroger promoted Jay Cummins to president of its Food4Less division. Cummins, who has 32 years of experience in the grocery business, most recently served as group VP, general manager of Food4Less' Midwest division.

99 Cents Only Stores.(People In The News)(Brief Article)
October 21, 2004... Dave Gold, founder of 99 Cents Only Stores, is stepping down as CEO, effective Jan. 1, 2005. He will remain active as chairman. Eric Schiffer, president of the discount chain, will assume the role of CEO and chairman of the executive committee...

New stores, new markets.
October 21, 2004... David's Bridal has opened in Salina, Kan., its third store in the state. Elsewhere in Kansas, J. Jill will open at the Bradley Fair shopping center in Wichita next month. The retailer will open next to Coldwater Creek and Chico's in a former...

New stores, new markets.(Brief Article)
October 29, 2004... Turkish jeweler Gilan leased space in New York City at 743 Fifth Ave., marking its first freestanding store in the United States.... Sears Grand will open its fourth store this weekend in Rancho Cucamonga, Calif.... Ashley Furniture will open...

J.C. Penney names Ullman as CEO, future of Castagna is unclear.(J.C. Penney Company Inc.)(Brief Article)
October 29, 2004... When Allen Questrom was appointed chief executive of J.C. Penney in September 2000, his objective was to lead a company turnaround and pave the way for another executive to maintain the success. With the mission accomplished, Penney named Myron...

Shoppers not waiting for Black Friday.(Brief Article)
October 29, 2004... More U.S. consumers will begin their holiday shopping prior to Black Friday than on the traditional start of gift buying, according to the Shopping in America report, conducted by August Partners on behalf of The Macerich Co. Twenty-nine...

KB Toys outlines store-closing plans.(Brief Article)
October 29, 2004... KB Toys, which filed for bankruptcy this past January, says it will close between 141 and 238 underperforming stores by the end of next January. The specialty retailer hopes this will mark the final round of store closings before its planned...

Safeway.(People In The News)(Brief Article)
October 29, 2004... Safeway appointed Melissa Plaisance as senior VP of finance and investor relations. She returns to Safeway from Del Monte Foods, where she held a similar position. Before joining Del Monte, Plaisance spent 13 years with Safeway.

Kirkland.(People In The News)(Brief Article)
October 29, 2004... Kirkland's named Dwayne Cochran as executive VP and director of stores, a new post. He replaces C. Edmond Wise, who resigned as senior VP of store operations. Cochran previously served with Brookstone and Pier 1 Imports.

The Sharper Image.(People In The News)(Tracy Wan appointed)(Brief Article)
October 29, 2004... Tracy Wan was elected to the board of The Sharper Image. A 16-year veteran of the company, she currently serves as president and COO.

Talbots.(People In The News)(Philip Kowalczyk appointed)(Brief Article)
October 29, 2004... Talbots named Philip Kowalczyk as executive VP, chief administrative officer, a new post for the chain. He previously was managing director of Kurt Salmon Associates.

Albertson's Inc.(People In The News)(Pete Van Helden appointed)(Brief Article)
October 29, 2004... Albertson's, Inc. named Pete Van Helden as CEO and president of its newly formed California food division, which is comprised of more than 500 stores. He is the former president of the company's Jewel-Osco division and a 26-year veteran of the...

Genesco.(People In The News)(Hal Pennington appointed)(Brief Article)
October 29, 2004... Genesco gave Hal Pennington, its CEO/president, the added post of chairman. Pennington, who joined the company in 1961, succeeds Ben Harris, who has served as chairman since 1999.

Blockbuster.(People In The News)(Nigel Travis plans to resign)(Brief Article)
October 29, 2004... Nigel Travis plans to resign as president and COO of video chain Blockbuster. He will remain with the company through the end of the year, or until it finds a permanent successor to his post.

Will Kmart still hail Little Caesar?(Little Caesar Enterprises)(Brief Article)
October 29, 2004... Rumors circulated this week that Kmart may be looking to cut its ties with Little Caesar Enterprises, which operates in-store pizza shops in roughly 260 of the discount chain's stores. The reason for the speculation was the appointment earlier...

Ratings firms downgrade three chains.(Pathmark Stores Inc., Sears, Roebuck and Co. and Winn-Dixie Stores Inc.)(Brief Article)
October 29, 2004... Fitch Ratings reduced its rating on Sears to "BBB-", one notch above junk status. The downgrade came after the retailer trimmed its 2004 earnings outlook and posted a loss of $61 million in the third quarter. Fitch said Sears will be...

This week's retail news nuggets.(Brief Article)
October 29, 2004... Robertson Properties Group spent an undisclosed sum to acquire Monrovia (Calif.) Marketplace, which features CompUSA and Office Depot as anchor tenants.... Meijer has partnered with MasterCard to launch a new credit card: the Meijer Platinum...