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  • Saks brings discount luxury to new markets

    NEW YORK — Customers with expensive taste will have greater access to luxury now that Saks is planning to open five new Off 5th stores throughout the United States. According to the company, these new stores will be located in upscale outlet, lifestyle, or strip centers, and each store will be designed in Off 5TH's unique "luxury in a loft" format. The new stores should have a particular appeal to foreign tourists, who helped drive up same-store sales to about 15% at Saks' flagship New York store.

  • A&P opens first new Pa. store in more than 10 years

    MONTVALE, N.J. — Grocer A&P officially opened on Friday its new Superfresh store, featuring a full-service pharmacy and expanded international offerings, in Philadelphia’s Northern Liberties neighborhood.

    The 51,000-sq.-ft. neighborhood store marks A&P’s first new store in Pennsylvania in more than 10 years, and brings nearly 120 new jobs to the community.

  • Bebe Stores Q4 profit doubles, plans net new store growth

    Brisbane Calif. -- Bebe Stores reported Thursday that profit for the fourth quarter doubled to $4.7 million, from $2 million in the year-ago period.

    Revenue rose 8% to $132.3 million, compared with $122.1 million last year and beating Wall Street expectations of $126.1 million. Same-store sales grew 7%.

    For the year, the company narrowed its loss to $1.8 million, from $5.2 million in fiscal 2010. Annual revenue increased 3% to $493.3 million.

  • Books-A-Million to buy leases of 14 Borders stores

    New York City -- A Wednesday report by Bloomberg said that Borders and Books-A-Million reached an agreement for a lease sale involved 14 Borders superstores and specialty stores for $934,209.

    Citing documents filed Wednesday in U.S. Bankruptcy Court in Manhattan, the report said the store locations include Portland, Maine; Canton, Ohio; Concord, N.H.; and Mays Landing, N.J.

    The agreement is conditional on approval by the bankruptcy court by Aug. 29. A deal for Books-A-Million to buy 30 Borders locations fell through in July.

  • Dillard's divisional merger will eliminate 66 workers in St. Louis

    Little Rock, Ark. -- Dillard’s said Thursday it has offered to relocate 66 St. Louis employees whose jobs have been eliminated from the department store retailer’s merger of two merchandising divisions.

    Dillard’s is merging its St. Louis merchandising division with another in Little Rock, Ark. The St. Louis division is slated to close Oct. 23.
     

  • Shoe Carnival profit drops in Q2, on track to open 13 net new stores

    Evansville, Ind. -- Shoe Carnival reported Thursday that net income for the quarter ended July 30 dropped to $2.7 million from $4.1 million in the year-ago period. Sales edged up 0.8% to $166.7 million, and same-store sales dipped 1.1%.

    The shoe retailer said it expects to open 17 new stores and close four stores in fiscal 2011.
     

  • Collective Brands to close 475 underperforming stores as it considers selling itself

    Topeka, Kan. -- Collective Brands, parent company of Payless and Stride Rite shoe chains, announced Wednesday that it would close 475 underperforming stores over the next three years and has hired a firm to help it explore its options.

    The company hired Perella Weinberg Partners and Kurt Salmon as advisors to explore strategic alternatives.

  • Food For Thought

    By Howard Paster, [email protected]

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