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Department Store

  • Recognizing the value of a dollar store

    CITY OF COMMERCE, Calif. — First it was Family Dollar, now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

    The company has received a proposal to take the company private from the company's founding family and investment firm Leonard Green & Partners LP for $19.09 per share, the Associated Press reported.

  • Ann Taylor Q4 profit jumps; changing corporate name to Ann Inc.

    New York — Ann Taylor Stores Corp. On Friday posted a bigger-than-expected quarterly profit on improved sales. The company, which said it will change its corporate name to Ann Inc. to better reflect its multichannel focus, also forecast strong first-quarter sales.

  • The boomer woman shopper: She can make your career

    By Stephen Reily, [email protected]

    You have almost certainly read or heard a dozen news stories this year that begin something like this: “The first Baby Boomer is turning 65 in 2011 . . .” 

    If you are a chain store executive, here is the most important point about that fact: You should forget it.

  • JCPenney helps underprivileged teens realize prom dreams

    PLANO, Texas -- JCPenney is giving underprivileged teens the chance to have their very own prom dress, while at the same time encouraging those more fortunate to give to a worthy cause. The company announced that from March 13 through April 2, customers can donate their gently worn prom dresses at one of more than 1,100 JCPenney stores nationwide.

  • 99 Cents Only Stores gets buyout offer from founders, Leonard Green

    City of Commerce, Calif. — Discount store retailer 99 Cents Only Stores has received a proposal to take the company private from the company's founding family and investment firm Leonard Green & Partners LP for $19.09 per share, the Associated Press reported.

    The offer would value the company at about $1.3 billion. According to 99 Cents, the purchasers would include the Schiffer-Gold family, which owns about 33% of its outstanding stock. David Gold is company founder and chairman, and his son-in-law Eric Schiffer is CEO.

  • Veteran ad exec named to hall of fame

    Tim White, SVP marketing at Fashion Bug, and a 30-year retail industry veteran, this week was inducted into the Retail Advertising and Marketing Association’s Advertising Hall of Fame. White is currently leading a team focused on building a brand identity at Fashion Bug that satisfies the clothing wants and needs of today value conscious woman. White spent the early part of his career with Kmart, ascending the ranks to become the lead marketing executive for Kmart’s launch of the super center initiative.

  • Woolbright names leasing agent

    Tampa, Fla. -- Woolbright Development said that Stuart Segall has been named a leasing agent for the company, and is responsible for leasing shopping centers in Tampa, Brandon and Tallahassee.

    Segall was previously with Florida Retail Partners in Tampa.

  • Wal-Mart plans to add hundreds of smaller stores in next three years

    Bentonville, Ark. -- Wal-Mart Stores, in a presentation at a Bank of America Merrill Lynch conference on Thursday, announced that it would open “hundreds” of smaller-format stores over the next three years.

    According to Bill Simon, president and CEO of Wal-Mart U.S., the ramped-up development could be augmented by some acquisition activity, although he didn’t elaborate on specifics.

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