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Retailnet.com: Retail Industry News
The latest Retail Industry headlines from Retailnet.com, a subsidiary of Lebhar-Friedman, Inc. *Updated Daily*
- Fred's Closing 75 Stores
Fred's Inc. will close 75 stores this year as part of a new cost-cutting campaign aimed at increasing the chain's annual operating margin by 4.5%. The company said 75 under-performing locations, representing more than 10% of the chain, will be shuttered. However, the retailer plans to open 18 s - Diedrich Coffee CEO Resigns
Diedrich Coffee, Inc. announced that Stephen V. Coffey has tendered his resignation from his position as CEO. J. Russell Phillips has been appointed by the board of directors to assume the CEO position. Phillips has served on the company's board of directors since April 2007, and will remain as - Walgreens Promotes Exec
Walgreens promoted Steven Lubin to divisional VP and the new position of general manager of marketing for non-mainland operations. Lubin will be responsible for the marketing needs of customers in Puerto Rico and Hawaii. Lubin joined the company in 1970 as a stock clerk in Chicago, and has rise - Tweeter Seeks Delay on Chapter 11 Plan
Tweeter Home Entertainment Group Inc. said it needs more time to analyze claims and assess its financial condition before developing a Chapter 11 plan to divvy up proceeds from its sale to a New York hedge fund. In light of the "recent" sale closing and the significant claims that are unresolve - St. Louis Will Help Macy's Unemployed
St. Louis Mayor Francis Slay said Thursday that Macy's Inc.'s decision to lay off 850 employees here would not slow the city's progress in reviving its downtown economy. "It all has to be put into context," Slay said during a news conference. With a base of 90,000 jobs downtown, the city won't - Panera Bread to Expand in Florida
Panera Bread Friday announced a new agreement with Covelli Enterprises, dba Flapan, LLC, to develop locations in the Florida counties of Palm Beach and Broward. Under the conditions of the new agreement, the franchisee will open 10 new Panera bakery-cafes.In a separate agreement, Flapan, LLC ac - Bon-Ton Reports Exec Changes
The Bon-Ton Stores has announced a number of executive changes, including the retirement of John Gleason, senior VP of corporate credit, and Colleen Golomski, senior VP of corporate credit. The executives will retire on Feb. 16 and March 1, respectively. The company also announced that Todd Dis - Retailers Report Weak January Results
With few exceptions, the nation's retailers got off to a poor start in 2008, with many leading merchants, including Wal-Mart Stores Inc., reporting January results that were even worse than already grim Wall Street forecasts. The disappointing sales figures made it clear that consumers wrestli - Limited Announces New International VP
Limited Brands, Inc. on Wednesday announced the appointment of Martin Waters as executive VP, international.Waters joins Limited Brands from his position as managing director and North American CEO for Boots Retail International, the United Kingdom's leading health and beauty retailer. At Boots - Macy's Consolidation Hurts Finlay
Finlay Enterprises Inc., which operates Bailey Banks & Biddle and other jewelry stores, said Thursday 94 of its 316 locations in Macy's Inc. will close as the department store operator consolidates.Macy's on Wednesday said it will consolidate regional headquarters and that its Minneapolis, - Gymboree 4Q Same-Store Sales Rise
Gymboree Corp. said Thursday that same-store sales rose 10% in the fiscal fourth quarter.Total sales for the quarter ended Feb. 2 rose 16% to $275.5 million from $238.5 million a year ago.For the first quarter and full fiscal year 2008, Gymboree plans for low single-digit comparable stores - DSW 4Q Same-Store Sales Slip
DSW Inc. said Thursday its fiscal fourth-quarter same-store sales fell 1.7%, and total sales were slightly below Wall Street's expectations. DSW's total sales climbed 1% to $332.5 million from $329.1 million. Analysts, on average, were expecting sales of $337.8 million, according to a poll - Big Lots 4Q Same-Store Sales Down
Big Lots Inc. said Thursday that same-store sales fell 0.6% in the fourth quarter, hurt by weak sales of toys and home furnishings. Total sales for the fiscal quarter ended Feb. 2 fell 9% to $1.4 billion, from $1.53 billion last year. Food and seasonal merchandise sold the best, while toys - Wal-Mart Expands In-Store Health Clinics With Own Brand
Wal-Mart Stores Inc. will open its first in-store medical clinics under its own brand name after leasing space in dozens of stores to outside companies that operate the quick-service health stops.The retailer said Thursday it will open "The Clinic at Wal-Mart" as a joint venture with local hosp - New Blog Entry: “Larry David and Me and Checkout Lines”
For the latest blog entry, “Larry David and Me and Checkout Lines,” click on the RetailView banner on the homepage. - Children's Place Former CEO Considering Bid for Company
Ezra Dabah, the former CEO of Children's Place Retail Stores Inc., said on Thursday he was confident he could make a bid to buy the company for $24 a share, sending its shares up 18% in pre-market trading. Dabah said he had received interest from private equity firm Golden Gate Capital to be a - New York & Co. 4Q Same-Store Sales Fall
New York & Co. said Thursday that same-store sales fell 3.5% during the fourth quarter. Total sales for the quarter ended Feb. 2 fell 5% to $359.4 million from $377.3 million in the fourth quarter last year, which included an extra week. For the fiscal year, same-store sales fell 1.3%, - Macy's to Cut 2,300 Management Jobs
Macy's Inc. said Wednesday it will cut about 2,300 management jobs as the department store operator consolidates three regional divisions and decentralizes buying in a bid to reduce costs and boost sales. The announcement came as Macy's announced that it had a steeper-than-expected drop in sale - New Web Exclusive: Tax Implications of Gift Cards
For the latest Web Exclusive “Tax Implications of Gift Cards,” click the Web exclusive link on the left side of the homepage. - Home Depot Sells Landscape Supply Stores
A Florida real estate development and acquisitions firm said Wednesday it has bought The Home Depot Inc.'s 11 Landscape Supply stores for $22 million.Palm Beach Gardens, Fla.-based Ram Realty Services said in a statement that it is evaluating the portfolio to determine which of the sites will b - Corporate Express Denies Buyout Talks With Staples
The Dutch company Corporate Express said Tuesday it was not in talks to be bought by U.S. rival Staples, denying a newspaper report and halving a sharp rise in its shares. "Such discussions are not taking place," it said in a statement after noting "rumors in a Dutch morning paper regarding ong - Circuit City More Than Doubles Credit Line
Struggling consumer-electronics retailer Circuit City Stores Inc. said Wednesday it has increased its credit line by $800 million and extended the expiration date to 2013, according to a regulatory filing. In a filing with the Securities and Exchange Commission, the company said it has increase - Former Wal-Mart Exec Thomas Coughlin Avoids Jail, Resentenced to Home Detention
Thomas Coughlin, former vice chairman of Wal-Mart Stores Inc., avoided a prison term on Friday when U.S. District Judge Robert Dawson resentenced him for tax evasion and fraud convictions. The judge said that home detention and probation was sufficient punishment for Coughlin. An appeals court - New Blog Entry: What's in a Name?
For the latest blog entry “What's in a Name?,” click the RetailView banner on the homepage. - Wet Seal's Arden B President Resigns
The Wet Seal Inc. said Tuesday that Greg Gemette, president of merchandise for its Arden B division, has resigned from the company for personal reasons. The company also said