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Apparel Stores
Syms names senior VP, general merchandise manager
Secaucus, N.J. ( May 13, 2010 ) Syms Corp. named Jason Somerfeld as senior VP and general
merchandise manager. In this newly created position, Somerfeld will oversee merchandising for
the newly integrated company incorporating the Syms, Filene's Basement, and co-branded Syms
Clothing/Filene's Basement stores.
He will report to Joel Feigenbaum, who was appointed in March as CIO to direct the strategic
merger of the Syms and Filene's Basement brands. Somerfeld will be based in Syms' corporate
headquarters in Secaucus.
Urban Outfitters Q1 net income, revenue rise
Philadelphia ( May 13, 2010 ) Urban Outfitters said Thursday that its first-quarter net income
jumped 72% partly on sales strength across its brands and fewer markdowns.
The retailer, whose brands include Anthropologie, Free People and Terrain as well its namesake
stores, reported a net income of $53 million for the period ended April 30, compared with $30.8
million a year ago.
Revenue increased 25% to $480 million from $384.8 million.
Men’s Wearhouse selects Verizon solution to handle traffic growth
Basking Ridge, N.J. ( May 13, 2010 ) Men's Wearhouse has implemented Verizon’s Private IP, a
network-based virtual private network, to provide a highly secure infrastructure that can better
handle surges in traffic as well as accommodate the company's future growth.
Men's Wearhouse is also using Verizon Enhanced Call Routing, a contact-center service that helps
callers identify and be routed to the most convenient location.
Cache reports widened loss in Q1
New York City ( May 12, 2010 ) Cache reported a loss of $4.1 million in its fiscal first quarter,
compared with a loss of $1.6 million in the year-ago period.
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Net sales for the quarter decreased 8.4% to $48.6 million, from $53.0 million in the first quarter of
fiscal 2009. Same-store sales decreased 6.8%, compared with a decline of 20.7% in the first quarter
of fiscal 2009.
Abercrombie CEO paid $36.3 million in 2009
New Albany, Ohio ( May 11, 2010 ) Abercrombie & Fitch Co. CEO Michael Jeffries received
compensation in 2009 of $36.3 million, up from $23.2 million a year ago, even as the company's
performance declined.
Jeffries earned a salary of $1.5 million and $33.3 million in options awards. His pay package also
included nearly $640,000 for personal use of the corporate jet and $170,000 to cover taxes related
to the airplane usage. He was also paid roughly $120,000 for personal security.
Jones postpones debt sale
New York City ( May 10, 2010 ) Jones Apparel Group is postponing its planned sale of $250
million in senior notes due 2018 due to unfavorable market conditions.
The clothing maker, which late Thursday said it plans to buy the majority of shoemaker Stuart
Weitzman LLC for $180 million, did not set a new date for the debt offering.
Bebe losses widens in Q3
Brisbane, Calif. ( May 7, 2010 ) Bebe Stores said Thursday that its fiscal third-quarter loss
mounted as its revenue slid.
The clothing company lost $5.5 million during the three-month period that ended April 3,
compared with a loss of $5.0 million during the same period last year. Net revenue fell 10% to
$114.4 million, down from $127.7 million. Same-store sales dropped 11.2%.
Auto Part Related
Pep Boys to pay $5 million to resolve Clean Air Act violations claims
Washington, D.C. ( May 11, 2010 ) The U.S. Environmental Protection Agency and the U.S. Justice
Department announced late Monday that The Pep Boys -- Manny, Moe & Jack -- will pay $5
million in civil penalties and take corrective measures to settle claims that it violated the Clean Air
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
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(770) 200-1517 ( Fax)
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www.marcusandmillichap.com
Act by importing and selling motorcycles, recreational vehicles and generators manufactured in
China that do not comply with environmental requirements.
Department Stores
Nordstrom income jumps 44% in Q1
Seattle ( May 13, 2010 ) Nordstrom reported net earnings of $116 million for the first quarter
ended May 1. This represented an increase of 43.8%, compared with net earnings of $81 million
for the same quarter last year.
First quarter same-store sales increased 12.0% compared with the same period in fiscal 2009. Net
sales in the first quarter were $1.99 billion, an increase of 16.7% compared with net sales of $1.71
billion during the same period in fiscal 2009.
Ross Stores gives $100,000 to fashion scholarship fund
NEW YORK (May13) Ross Stores is providing the YMA Fashion Scholarship Fund (FSF) with a
multi-year endowment totaling $100,000, FSF reported.
In addition, FSF and Ross will award a $5,000 scholarship annually to each of four students who
demonstrate excellence in retail leadership. These award recipients will also be offered a summer
internship with Ross. This year's winners from the FSF Class of 2010 include: Alexandra Silvestri
from Lehigh University, Chelsea Volpe from Iowa University, Marissa Zappia from Indiana
University, and Marlena Filipowska from the Wharton School of the University of Pennsylvania.
Macy’s returns to profit on strong sales
Cincinnati ( May 12, 2010 ) Macy's returned to profitability in the first quarter on strong sales
related to its efforts to tailor its merchandise to local markets. The company, however, said it is
too early to further raise its outlook for the year due to economic uncertainty.
Macy’s posted net income of $23 million for the period ending May 1, compared with a loss of $88
million in the year-ago period. Revenue reached $5.57 billion in the quarter, up from $5.19 billion
in the last year's first quarter. Same-store sales rose 5.5%. Online sales surged 34%.
Report: Macy's to launch exclusive line from Hugo Boss
(May12) Macy's is planning to add a line from Hugo Boss to its collection of exclusive, designer
clothing, The New York Post reported.
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According to The Post, the new line will likely include suits, sportswear and accessories for both
men and women at lower price points than what is traditionally sold under the Hugo Boss label.
The line is expected to launch in the fall of 2011.
Macy's unveils tourism-focused Web site
NEW YORK (May12) Macy's has launched a new Web site, www.visitmacysusa.com, to expand
its reach to domestic and international travelers and make it easier for tourists to access
information on Macy's Visitor Services programs.
According to the company, the site will offer tourism information in eight languages and, through
a partnership with Kiwi Collection, provide a comprehensive hotel search and booking engine.
Additionally, one of Macy's most popular tourist attractions - Macy's 10% Visitors Savings Pass -
is also now available as a downloadable voucher on visitmacysusa.com that can be redeemed at
any Macy's store nationwide.
Nordstrom Rack makes Manhattan debut
New York City ( May 11, 2010 ) Nordstrom opened the doors to its off-price format, Nordstrom
Rack, in Manhattan on Tuesday. It is the department store company’s first-ever location in the Big
Apple.
The approximate 32,000-sq.-ft. Rack is located in the basement of the former Virgin Megastore in
the Union Square area.
Stein Mart appoints senior VP, director of stores
Jacksonville, Fla. ( May 11, 2010 ) Stein Mart said Tuesday it has named Gary Pierce as senior VP
and director of stores, effective May 17.
Pierce succeeds Michael Ray, who remains with Stein Mart as a regional director of stores. Pierce
was previously senior VP and director of stores for Belk’s central and northern divisions.
Harrods sold to Qatari royal family
New York City ( May 10, 2010 ) Billionaire Mohammed al-Fayed has agreed to sell London’s
famed Harrods department store, for 1.5 billion British pounds, or approximately $2.3 billion, to
Qatar Holdings, BBC News reported. Qatar Holdings is the investment arm of the emirate's
sovereign wealth fund, Qatar Investment Authority.
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“It is a privilege for us to acquire Harrods, a unique company that combines an iconic luxury
brand and one of the most prestigious retail properties in the world with best-in-class financial
metrics,” Ahmad al-Sayed, CEO of Qatar Holding, said in a statement.
Discount Stores
Kohl's Q1 net income rises on higher revenue
Menomonee Falls, Wis. ( May 13, 2010 ) Kohl's Corp. said Thursday its first-quarter net income
rose 45% as shoppers spent more at its stores.
Kohl's said its net income rose to $199 million in the three months ended May 1, up from $137
million a year ago. Revenue rose 11% to $4.04 billion, from $3.64 billion last year.
Wal-Mart to pay $86M to settle lawsuit over wages
New York City ( May 12, 2010 ) Wal-Mart Stores has agreed to pay up to $86 million to settle a
lawsuit alleging it owes workers in California vacation pay and other unpaid wages.
The company agreed to pay the settlement, which the plaintiffs said includes $12 million in
vacation pay and $74 million in unpaid wages to terminated workers. Wal-Mart will pay a
minimum of $43 million and up to $86 million, plus the cost associated with a third party to
calculate wages due to the workers.
Walmart pledges $2 billion to help end hunger in America
Bentonville, Ark. ( May 12, 2010 ) Walmart and the Walmart Foundation announced a $2 billion
cash and in-kind commitment Wednesday, stepping up efforts to help end hunger in America.
Asda names Clarke as CEO
London ( May 11, 2010 ) Wal-Mart Stores announced Tuesday that its British grocery subsidiary
Asda named current COO Andy Clarke as its president and CEO, effective immediately.
Current CEO Andy Bond will serve as chairman of Asda's executive committee, also effective
immediately, Wal-Mart said.
Target donates $2.3M to Feeding America
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
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(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
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www.marcusandmillichap.com
MINNEAPOLIS (May11) Target announced that it is donating $2.3 million to Feeding America to
fund a school food pantry pilot program and its future expansion to more schools nationwide.
The program, 'Meals for Minds,' is a partnership with Feeding America and local food banks that
will bring food to schools to feed students and families most in need, the company reported.
Target also is committing $1.2 million on top of the $2.3 million, to local food banks across the
country to support other school-based food programs. The company also is projected to donate
more than 20 million pounds of food to children and families in need in 2010.
Walmart increases CARE funding
BENTONVILLE , Ark. (May11) The Walmart Foundation announced plans to increase its
women’s development partnership with CARE to $3 million, expanding its $1 million, one-year
partnership initiated last year. According to Walmart, the funding will go toward providing
women in Peru, Bangladesh and India education, literacy and job training.
“We are excited by the positive difference we have made in the lives of women through the work
we have done in partnership with CARE and are looking forward to building on these successes
to do even more,” said Eduardo Castro-Wright, vice chairman of Walmart and CARE board
member. “These projects will create new jobs and advancement opportunities for women in the
work place, as well as help to build and improve their confidence.”
Attorney wants to get Walmart in court over proposed store near Civil War battlefield
New York City ( May 7, 2010 ) An attorney seeking to block a Walmart Supercenter near a Civil
War battlefield wants to get the retailer into a courtroom, the Associated Press reported.
The 138,000-sq.-ft. store would be built in Locust Grove, near Civil War battlegrounds where
180,000 soldiers fought and 26,000 were killed.
Report: Wal-Mart still sees room for expansion in United States
New York City ( May 7, 2010 ) Eduardo Castro-Wright, the head of Wal-Mart Stores’ U.S.
operations, believes there is still plenty of room to expand in its home market, according to a
report in the Financial Times.
Instead, he says Walmart’s opportunity for sales growth at home exceeds the combined potential
of China, Russia and India.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
Drug Stores
CVS chief executive to retire in 2011, succession plan in place
Woonsocket, R.I. ( May 12, 2010 ) CVS Caremark Corp. said Wednesday chairman and CEO
Thomas M. Ryan will retire next year, and its board has picked company executive Larry J. Merlo
to succeed him.
The drug store chain says Ryan plans to step down in May 2011. The board appointed Merlo, 54,
president and COO, and anticipates he will replace Ryan as CEO. Merlo also will be elected to the
company's board. He has 20 years of experience with CVS. He served recently as company
executive VP and president of its CVS/pharmacy retail operations.
Walgreens' Credit Rating Downgraded
07 May 2010 , Standard & Poor’s Rating Service downgraded Walgreens' corporate credit rating
from A+ to A with a stable outlook. S&P’s downgrade reflects the costs and leases related to the
acquisition of Duane Reade. Additionally, S&P believes Walgreens' financial policy has become
more aggressive.
Electronics Stores
Best Buy spent $340,000 lobbying in Q2
Washington D.C. ( May 10, 2010 ) Best Buy Co. spent $340,000 in the first quarter to lobby the
federal government on labor and other issues, according to a disclosure report.
That's double the $170,000 that Best Buy spent in last year's first quarter, and up 70% from the
$200,000 it spent in fourth quarter 2009.
Grocery Stores
Whole Foods net income soars in Q2
Austin, Texas ( May 13, 2010 ) Whole Foods Market said Thursday that stronger sales helped
more than double its second-quarter net income as shoppers flocked to the natural and organic
grocery chain.
Whole Foods reported net income of $67.5 million for the second quarter, up from $27.3 million
last year. Revenue rose more than 13% to $2.1 billion, while same-store sales rose 8.7%.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
Bi-Lo completes financial restructuring
Mauldin, S.C. ( May 13, 2010 ) Bi-Lo, LLC has completed its financial restructuring and emerged
from protection under Chapter 11 of the U.S. Bankruptcy Code.
"With our financial restructuring now behind us, we are emerging from Chapter 11 with a
strengthened balance sheet and enhanced financial flexibility that positions Bi-Lo for continued
success in the markets in which we operate,” said Michael Byars, president and CEO of Bi-Lo.
“Our lean capital structure and more focused footprint will enable us to continue putting our
customers first and exceeding their expectations every time they visit our stores. We are excited to
move forward as a financially stronger company."
Giant Food, Shell team up for gas promotion
Baltimore ( May 12, 2010 ) Giant Food and Shell gas stations are teaming up for a promotion
aimed at helping customers save at the pump, according to the Baltimore Business Journal.
Beginning on Friday, Giant customers in the Baltimore area can use their Giant rewards card at
the grocer to collect points, which can be redeemed at more than 100 Shell stations in the
Baltimore region.
Whole Foods Market announces exec management promotions
Austin, Texas ( May 12, 2010 ) Whole Foods Market announced the promotions of Walter Robb
and A.C. Gallo who have shared the roles of president and COO since October 2004.
Effective immediately, Robb will become co-CEO and will join the company’s board of directors.
Gallo will serve as the company's sole president and COO.
Arden Group Q1 net income falls on lower revenue
Los Angeles ( May 12, 2010 ) Arden Group, parent company of supermarket operator Gelson's
Markets, said Wednesday that its first-quarter net income dropped 12% on lower sales.
Earnings fell to $5.1 million from $5.8 million a year earlier. Revenue for the period ended April 3
decreased 4% to $104.8 million, from $108.8 million.
Whole Foods 2Q sales up 13%
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Marcus & Millichap
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AUSTIN , Texas (May12) Whole Foods Market reported that second-quarter sales increased 13%
to $2.1 billion. Comparable-store sales increased 8.7%, or 3.9% on a two-year stacked basis.
Identical-store sales, excluding four relocations, increased 7.7%, or 1.9% on a two-year stacked
basis.
Income available to common shareholders increased 147% to $67.5 million, and diluted earnings
per share increased 102% to 39 cents per diluted share.
H-E-B reaches charitable milestone
SAN ANTONIO (May12) H-E-B announced that it has donated more than 750 million pounds of
food to Texas food banks since 1982.
To mark this milestone and see its support continued, H-E-B said it is once again kicking off its
Help End Hunger campaign in its stores across the state. The annual campaign, now entering its
19th year, provides a direct way for H-E-B customers to support the local affiliate of the Feeding
America Texas Food Banks in their area with a financial donation.
Whole Foods acquiring Greenlife stores
( May 11, 2010 ) Whole Foods Market said it has completed a deal to purchase two Greenlife
stores, one in Asheville, N.C., and the other in Greenlife’s home base of Chattanooga, Tenn.
Whole Foods said it will retain the individuality of the privately held, organic food two-store
chain.
Aldi orders H.E.B. to discontinue ‘Joe’ reference
Batavia, Ill. ( May 11, 2010 ) German retailer Aldi, parent to the Trader Joe chain, launched an
action against H.E. Butt in protest of H.E.B’s new banner “Joe V’s Smart Shop.”
According to reports, Trader Joe’s has sent a cease-and-desist letter to H-E-B, ordering it to stop
using the name “Joe,” claiming it would cause confusion in the minds of consumers. The letter
added that Trader Joe’s would “pursue any and all available legal remedies” if those demands
were not met, according to reports.
Winn-Dixie reports profit lift in Q3
Jacksonville, Fla. ( May 11, 2010 ) Winn-Dixie Stores reported Tuesday that net income for the
third quarter ended March 31 edged up to $20.9 million from $16.6 million in the year-ago period.
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Marcus & Millichap
1100 Abernathy Road, Ste. 600
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Sales for the quarter dipped 2.3% to $1.7 billion. Same-store sales also declined 2.2%.
Hawaiian grocer to pilot SoftRetail from SofTechnics
Woodbury, N.Y. ( May 11, 2010 ) Janam Technologies LLC, a provider of rugged mobile
computers that scan bar codes and communicate wirelessly, announced that Foodland Super
Market Ltd., Hawaii's largest, locally owned and operated grocery retailer, will use Janam's
XG100 rugged gun-shaped mobile computers in a pilot test of SoftRetail, SofTechnics' latest suite
of store support applications.
SoftRetail is a software solution that enables retail enterprises to manage store-level operations
including receiving, ordering, maintaining sales floor conditions, extended inventory
management and item and price management.
Safeway names president of merchandising
Pleasanton, Calif. ( May 10, 2010 ) Safeway announced the appointment of Kelly Griffith to
president, merchandising.
Griffith will oversee the company’s entire perishable and non-perishable business units including
grocery, general merchandise, produce, meat, seafood, bakery, food service, and floral.
Weis Markets implements upgraded Retalix solution
Dallas ( May 10, 2010 ) Weis Markets has improved its margins and boosted its competitive
advantage by upgrading to Retalix’s HQ pricing and merchandising software. Retalix is a global
provider of retail and supply chain technology.
The expanded solution now includes the HQ Advanced Pricing Bundle, as well as the Vendor
Web Access, Profit Analyzer, Category Analyzer and Bill Back Manager modules.
Winn-Dixie helps customers help oil-spill impacted fishermen
NEW ORLEANS (May10) Winn-Dixie announced that it has implemented its "Neighbors Helping
Neighbors" program in Louisiana to help fishermen affected by the oil spill off the Gulf Coast.
Shoppers at Winn-Dixie's 36 Louisiana-area stores can donate between 50 cents and $500 directly
to the United Way of Greater New Orleans as they pay for their groceries, the company reported.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
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www.marcusandmillichap.com
The cashier will scan a special Neighbors Helping Neighbors bar code, which automatically adds
the amount designated by the customer to the total bill.
Whole Foods to open in Tarzana, Calif.
Austin, Texas ( May 7, 2010 ) Whole Foods Market will open its newest Southern California
location, in Tarzana, on May 12.
More than 40 local vendors will be featured throughout the store, which will feature 30,000 sq. ft.
of selling space.
Home Improvement & Office Products
Havertys selects chairman emeritus, announces exec promotions
Atlanta ( May 13, 2010 ) Haverty Furniture Co. announced that L. Phillip “Phil” Humann was
elected non-executive chairman succeeding Clarence “Clancy” H. Ridley. Ridley was elected
chairman emeritus after serving on the board since 1979 and as chairman since 2001.
Humann has served on Havertys' board since 1992 and as a member of the executive committee
since 1995. Prior to his election as chairman, he was as a member of the compensation committee
and has previously served on the audit committee.
Home Depot spent $245,000 lobbying in Q1
Washington, D.C. ( May 10, 2010 ) Home Depot spent $245,000 in the first quarter to lobby the
federal government on organized retail crime and other issues, according to a disclosure report.
That's up 2% from the $240,000 that Home Depot spent in last year's first quarter, and up 9% from
the $225,000 it spent in fourth quarter 2009.
Lowe's spent $215,000 lobbying in Q1
Washington, D.C. ( May 10, 2010 ) Lowe's Cos. spent $215,000 in the first quarter to lobby the
federal government on rebates for energy-efficient products and other issues, according to a
disclosure report.
That's down 68% from the $680,000 Lowe's spent in last year's first quarter, and more than triple
the $65,000 it spent in fourth quarter 2009.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
Office Depot joins EPA’s Energy Star Commercial Buildings Program
Boca Raton, Fla. ( May 10, 2010 ) Office Depot announced it has become an Energy Star
Commercial Buildings Partner, a program established by the U.S. Environmental Protection
Agency. Through this partnership with the EPA, Office Depot will continue to work to improve
energy efficiency in the company’s retail stores, and commits to track its energy consumption at
each individual location using Energy Star tools to score performance.
OfficeMax to shut Wyoming call center
New York City ( May 7, 2010 ) OfficeMax plans to close its call center in Casper, Wyo., and
terminate the facility's 250 employees.
The Casper facility, which will close on July 30, is one of four OfficeMax call centers in the United
States that handle customer inquiries. The others -- in Bristol, Va.; Peru, Ill.; and Ottawa, Ill. -- will
remain open.
Restaurant
Arby's still struggling as Wendy's improves
(May 13, 2010) After launching a national value menu, Arby's will introduce two premium
sandwiches as it continues to seek a winning formula to reverse falling sales.
The premium products -- a Steakhouse Sub and a Prime Cut chicken sandwich -- will be
promoted alongside Arby's new $1 value menu, parent company Wendy's/Arby's Group Inc. said
after reporting first quarter results that included an 11.5-percent drop in same-store sales at the
roast-beef-focused chain.
O'Charley's post 1Q loss on slow sales
(May 13, 2010) O’Charley’s Inc. blamed severe weather and falling sales at its three chains as it
recorded a net loss for its first quarter.
For the quarter ended April 18, O'Charley's had a net loss of $4.3 million, or 21 cents per share,
compared with year-ago profit of $6.9 million, or 34 cents per share. The latest quarter included
$5.6 million in impairment charges related to four O'Charley's restaurants, which remain open,
the company said. First-quarter revenue fell 6.9 percent to $271.5 million from $291.7 million a
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year ago, said O'Charley's, which is parent to a namesake casual-dining chain as well as the
Ninety Nine Restaurants and Stoney River Legendary Steaks brands.
Chili's brings back 3 for $20 offer in three states
DALLAS (May 13, 2010) After ending its “3 for $20” value promotion in January, Chili’s Grill &
Bar has resurrected the deal as a limited-time offer for E-mail Club members in three states.
The coupon-required promotion, which again offers two guests two entrees and a shared
appetizer and dessert for $20, may be aimed at boosting same-store sales, Brad Ludington, an
analyst with KeyBanc Capital Markets Inc., said in a research note Wednesday. The e-mail offer is
available in California, Texas and Utah through May 23, and includes a choice of five appetizers
and three desserts. Fourteen entrees were on the list, including such new items as Santa Fe
Chicken Wrap, BBQ Pulled Pork Sandwich, Shiner Bock BBQ Burger and a half rack of ribs with
Shiner Bock BBQ Sauce.
Jack in the Box's 2Q profit falls
(May 13, 2010) Jack in the Box’s core market of California showed improvement in the second
quarter in terms of check averages and transactions, but high unemployment in the region
remains a key obstacle in turning around declining sales, its parent company said.
For the quarter ended April 11, Jack in the Box Inc. reported net income of $17.7 million, or 32
cents per share, compared with earnings of $29.9 million, or 52 cents per share, for the same
quarter a year ago. The company blamed much of the 40-percent dive in profit on decreased gains
from its refranchising efforts, which negatively impacted earnings by 15 cents a share.
Starbucks plans push to expand Seattle’s Best brand
Seattle ( May 12, 2010 ) Starbucks Corp. plans to revamp its Seattle's Best brand, expanding its
availability through franchises and a big expansion at other retailers.
Starbucks said Wednesday it will to increase availability of the brand from 3,000 locations to
30,000 by the end of the year.
McDonald’s April sales up 4.9%, beating Street
Oak Brook, Ill. ( May 11, 2010 ) McDonald’s Corp. said Tuesday that April sales rose 4.9%, just
topping analysts’ estimates, helped by growth in Europe and Australia.
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U.S. same-store sales rose 3.8%, and climbed 5.3% in Europe and 3.9% in Asia, the Middle East
and Africa.
Red Mango to debut in Alabama
Hoover, Ala. ( May 11, 2010 ) Frozen yogurt retailer Red Mango said it has inked a deal with a
local franchisee to open its first stores in Alabama, according to a report by the Birmingham
Business Journal.
Red Mango said Hoover resident David Hurst has signed a development agreement to open three
locations in Jefferson County, the first of which will be in Hoover, according to the report.
Chipotle makes London debut
Denver ( May 10, 2010 ) Chipotle Mexican Grill said Monday it has opened its first restaurant in
London. The site also is its first European location.
The company, which operates roughly 1,000 quick-casual Mexican restaurants in the United
States, said it is exploring other potential sites in London and in other European markets such as
Paris and Germany.
Dollar Stores, Warehouse Club & Other Retailers
Kwik Trip to implement Blockbuster Express kiosks
Duluth, Ga. ( May 12, 2010 ) Kwik Trip convenience stores are adding Blockbuster Express DVD-
rental kiosks from NCR Corp. throughout Iowa, Minnesota and Wisconsin. The kiosks already
have an existing presence at Kwik Trip in markets such as Chicago, Detroit and Indianapolis.
With a swipe of a credit card, customers can rent popular DVDs for $1 per night per rental.
Customers can keep the DVDs as long as they want, and return their selections to any Blockbuster
Express kiosk.
PetSmart launches pet supplement line with GNC
PHOENIX (May12) PetSmart has partnered with General Nutrition Centers to launch a line of
dietary supplements for dogs and cats. The line will be available exclusively at PetSmart stores
and online at petsmart.com beginning in the fall of 2010.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
Sports Authority launches high-end store concept
ENGLEWOOD , Colo. (May12) Sports Authority has announced the launch of “S.A. Elite” a new
small-store concept designed to meet the needs of the elite sporting goods consumer while
providing a unique and compelling shopping experience.
The S.A. Elite brand has tested well with consumers who believe it conveys the elevated product
assortment and experience, while still representing the great value Sports Authority is known for.
Susser Holdings loss widens in Q1
Corpus Christi, Texas ( May 11, 2010 ) C-store operator Susser Holdings Corp. said Tuesday that
its first-quarter net loss widened as operating expenses increased.
Susser reported a net loss of $5 million for the three months ended March 29, compared with a
loss of $931,000 a year earlier. Revenue climbed 38% to $938.1 million and same-store sales
increased 2.5%.
Zale strengthens on newly closed loan
Dallas ( May 11, 2010 ) Zale Corp. said late Monday it has closed on a new $150 million, five-year
senior secured term loan provided by private-equity firm Golden Gate Capital.
In addition to interest and fees on the GGC Loan, GGC will receive a 25% equity stake in Zale
Corp., pending required shareholder approval, and two GGC representatives will serve on the
company’s board of directors.
Fossil profit doubles on surging sales, beats Street
New York City ( May 11, 2010 ) Watch and fashion accessories retailer Fossil reported Tuesday
that it earned $35.9 million in the first quarter, up from $17.3 million a year earlier.
Revenue for the quarter jumped 22% to $393.2 million. Analysts had most recently forecast $363
million in revenue.
Dollar General provides $200K for flood relief
GOODLETTSVILLE , Tenn. (May11) Dollar General announced that it is providing more than
$200,000 in cash and merchandise to assist with flood recovery efforts in Kentucky, Mississippi
and Tennessee.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
Dollar General is donating $90,000 to the American Red Cross and $10,000 in gift cards to Second
Harvest Food Bank. The company will be donating more than $70,000 in merchandise to help
those affected by the flood. In addition, the company is contributing $20,000 to United Way’s
Restore the Dream fund, which was established in 1999 by Dollar General and Cal Turner, Jr., a
member of Dollar General’s founding family, to help nonprofits rebuild and recover after a
natural disaster.
Sam's Club offering $15 membership
BENTONVILLE , Ark. (May11) Sam's Club announced that it is offering 15-week membership for
$15 as part of its celebration of National Small Business Week. The program is open to small
business owners and entrepreneurs starting up and not currently members, the company
reported.
"It continues to be a tough environment for small business owners, but Sam's Club is here to
help," says Mike Turner, VP Sam's Club membership. "The $15 membership is a great way for us
to introduce them to Sam's Club and our services and we are confident they will see the value of
membership within one or two trips to a club or by using samsclub.com."
Blockbuster shareholder pushes proxy fight
(May 11, 2010) A Blockbuster shareholder who has been waging a battle to join the company’s
board of directors has offered the movie rental company a settlement offer to thwart the threat of
a proxy fight.
Shareholder Gregory Meyer said in a letter to the Dallas-based company’s board that he believes
Blockbuster can end a contentious battle by agreeing to appoint him to the board of directors.
Shoe Carnival reports Q1 sales results
Evansville, Ind. ( May 10, 2010 ) Shoe Carnival reported that net sales for first quarter 2010
increased 13.2% to $189.5 million from $167.3 million for first quarter 2009.
Same-store sales for the thirteen-week period ended May 1, 2010 increased 13.1%. Both net sales
and comparable-store sales for first quarter 2010 were above the company’s prior guidance for net
sales in the range of $181 to $183 million and a same-store sales increase of 8% to 9%.
Big 5 Sporting Goods reports strong Q1
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
El Segundo, Calif. ( May 10, 2010 ) Big 5 Sporting Goods Corp. reported a 82% jump in first-
quarter profit that beat Wall Street expectations.
The discount retailer posted net income for the three months ended April 1 of $5 million,
compared with $2.8 million in the year-ago quarter. Revenue rose 4% to $218.5 million, from
$210.3 million last year. Same-store sales rose 2.4% for the period.
Trans World names president, COO
Albany, N.Y. ( May 10, 2010 ) Trans World Entertainment Corp. Monday announced the
appointment of Mike Honeyman as its president and COO.
Prior to joining Trans World, Honeyman served as president COO of Bernie's TV and Appliances
from 2006 to 2010.
Stride Rite Children's Group names SVP Wholesale
LEXINGTON , Mass. (May10) The Stride Rite Children's Group, a division of the Collective
Brands Performance and Lifestyle Group, announced that Matt Feiner has been appointed SVP
wholesale, reporting to Sharon John, president of the Stride Rite Children's Group.
Feiner will be responsible for the Stride Rite Children's Group wholesale division and the
wholesale merchandise planning team to drive strategic growth for the Stride Rite Children's
Group branded products both domestically and globally.
Amazon.com looking to hire hundreds for latest fulfillment center
Seattle ( May 7, 2010 ) Amazon.com announced its new Breinigsville, Pa., fulfillment center,
operated by Amazon.com.dedc LLC, is looking to hire for several hundred full-time hourly
positions ahead of the facility's opening in the summer.
The new fulfillment center will be more than 600,000 sq. ft., located in Breinigsville, Pa., 11 miles
southwest of Allentown. The company said it also plans to hire hundreds of temporary associates
during peak seasons to meet demand for its products.
Golfsmith opens superstore in Brea, Calif.
New York City ( May 7, 2010 ) Golfsmith International Holdings announced Friday that it has
opened its eighth store in the Los Angeles and Orange County area.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
The 21,000-sq.-ft. store in Brea, Calif., features a five-bay indoor driving range, custom fitting and
certified PGA Pro golf instruction from GolfTEC. It also features a huge indoor putting green and
“virtual reality” custom fitting studios that help match golfers to the clubs that fit their swing.
Borders gets in e-reader game with Kobo launch
ANN ARBOR , Mich. (May7) Borders has announced a new digital initiative and is taking pre-
orders for its Kobo e-reader. The company said that it will debut its Kobo e-book store next
month. The Kobo e-reader will be sold along aside other e-reading devices in special digital shops
called "Area-e," launching in August.
The Kobo will retail for $149.99 and will come preloaded with 100 classic books, the company
reported. Borders said that pre-orders will begin arriving in customers' homes on June 17.
General
Report: Unadjusted year-over-year ex-auto sales slow to 6.1% in April
Purchase, N.Y. ( May 13, 2010 ) MasterCard Advisors’ SpendingPulse, a macroeconomic report
tracking national retail and service sales, provided summary results for April.
Kamalesh Rao, director of economic research for MasterCard Advisors SpendingPulse, reported
that following three months of steady, month-to-month growth averaging about 2%, total U.S.
retail sales (excluding auto) stopped to catch its breath in April, falling by 2% since March on a
seasonally adjusted basis.
Report: Retailers concerned about top talent leaving their companies
Chicago ( May 13, 2010 ) As the recession eases and companies begin to add to strained staffs,
retail employers are also taking action to retain existing top talent at their organizations.
According to a new WorkInRetail.com survey, more than one-third (36%) of retail employers are
concerned about losing their high-performing workers in the second quarter, while the same
amount (36%) of retail workers said it is likely they will start looking for a new job when the
economy picks up.
As a result, retail employers are turning to a variety of different retention strategies to hold onto
those workers and their valuable intellectual capital. The survey was conducted between
February 10 and March 2, among 290 retail employers and 731 retail workers.
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
Spending continued to climb in April
New York City ( May 12, 2010 ) Consumer spending rose for the second consecutive in April and
remains at its highest level in six years, according to the Deloitte Consumer Spending Index. The
Index attempts to track consumer cash flow as an indicator of future consumer spending.
The Index, comprising four components -- tax burden, initial unemployment claims, real wages
and real home prices -- rose to 5.0%, from an upwardly revised gain of 4.64% a month ago.
Lucernex partners with Drawbase Software
Dallas (May 10, 2010) Real estate business-intelligence solution provider Lucernex Technologies
said it has entered into a partnership with Drawbase Software, a supplier of integrated building
design and facility management information systems.
Under the partnership, Lucernex will now offer its integrated workplace management system, Lx
IWMS, with integrated computer aided facility management and building infrastructure
management tools from Drawbase.
TalentDrive and SmashFly partner for recruitment marketing
Chicago ( May 11, 2010 ) On-demand resume sourcing technology provider TalentDrive, along
with Stowe, Mass.-based SmashFly Technologies, provider of the recruitment marketing platform
WildFire, announced Tuesday that they have partnered to provide seamless integration of the two
technologies.
Users will now be able to source thousands of paid and free job boards, social media sites, alumni
networks, niche resume databases and the open Web for new candidates, all from one location.
Weekly sales rise 4.3%
New York City ( May 11, 2010 ) A survey released Tuesday by the International Council of
Shopping Centers and Goldman Sachs said that chain-store sales for the week ended May 8 rose
4.3% from the year-earlier period.
On a week-over-week basis, sales inched up 0.1%.
RedPrairie acquires SmartTurn
Al Taf Group
Marcus & Millichap
1100 Abernathy Road, Ste. 600
Atlanta, GA 30328
(678) 808-2776 (Direct)
(678) 462-4442 (Cell)
(770) 200-1517 ( Fax)
ataf@marcusmillichap.com
www.marcusandmillichap.com
Orlando, Fla. ( May 11, 2010 ) RedPrairie Corp., a productivity solutions provider, Tuesday
announced it has completed the acquisition of SmartTurn, the leading on-demand inventory and
WMS provider.
The acquisition adds a multi-tenant software-as-a-service WMS to RedPrairie’s E?e productivity
suite and creates the only software company with a WMS solution for distribution operations of
all sizes and levels of complexity. With the flexibility to provide a WMS solution for any
distribution operation, RedPrairie can now also provide increased visibility and collaboration
between large distribution operations and their partner hubs that are too small for a traditional
WMS.
Shoppers hunt for food deals online, Deloitte survey finds
NEW YORK (May11) Shoppers with an appetite for deals on food purchases are turning to online
tools for help, a new Deloitte consumer survey found.
Deloitte's 2010 consumer food safety survey found that one-third of the 1,102 respondents polled
subscribe to receive e-mails, recipes and coupons directly from food manufacturers, up six
percentage points from two years ago. A total of 23% of consumers visit a food company's Web
site to learn more about their products and will make a food purchase as a result.
Shooting kills two in Old Navy store in Chicago’s Loop
Chicago ( May 7, 2010 ) Police in Chicago say two people were shot to death in an apparent
murder-suicide at the Old Navy clothing store in the heart of the city's Loop retail corridor, the
Associated Press reported.
Chicago police officer spokesman John Mirabelli says details are sketchy about Friday's shootings
but that it appears the deaths were part of a domestic dispute.