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Express makes Canada debut, plans 56 stores in five years
New York City -- Express said Thursday that it has opened its first Canadian location, a 10,000-sq.-ft. store at Fairview Mall in Toronto.
The retailer said it plans to open a total six stores in Canada by the end of 2011, and an additional 50 stores across the country over the next five years.
In November, Express will have three locations opening in Calgary at Southcentre, Chinook Centre and Market Mall as well as an additional store in Toronto at Square One.
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Rite Aid narrows loss in Q2
Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period.
Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%.
The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated.