STORES Magazine - March 2009 - (Page 16)

trEnDS 10 THINGS YOU MAY HAVE MISSED Compiled by David P. Schulz 1 For your convenience … Office supply superstores gained prominence through depth and breadth of merchandise mix, but Staples Express units began a downsizing trend. Now, OfficeMax has unveiled Ink Paper Scissors stores in the 1,500- to 2,000-sq.-ft. range positioned as minimarts for small business and home office customers. “It’s about getting in and getting out fast when you need to pick up a ream of paper, get an ink cartridge, make a few copies or pick up some school supplies for the kids,” says OfficeMax CMO Ryan Vero. robust fact base, as well as making sure the individual responsible for implementing a decision is involved in making that decision. Never mind … Carpenters and plasterers were recently given the order to stop work on Fortunoffwithin-Lord & Taylor projects without any explanation. Days later, the jewelry and home goods retailer was back in bankruptcy court less than a year after being rescued from Chapter 11 by NRDC Equity Partners, Lord & Taylor’s parent. Another NRDC-owned retailer, Toronto-based Hudson’s Bay Trading Co., has cut its workforce by 5 percent, eliminating 1,000 jobs. 4 Neighborhood watch … Someone called the Parma, Ohio, police one recent Sunday night after seeing a trailer truck bearing the Walmart logo being unloaded at a non-descript building. The cops turned up the next day with a search warrant and found Walmart merchandise, plus furniture from a JCPenney truck stolen a couple of months earlier and merchandise from a Dollar General vehicle taken in Cleveland Heights. Total estimated value: $100,000. 6 companies in deciding to go with quarterly estimates rather than monthly predictions. “We believe this guidance is a more appropriate measure for our investors, particularly in volatile times when consumer swings are more difficult to predict,” says Wal-Mart CFO Tom Schoewe. Sounds of change … Sephora, the French beauty products chain, has signed a lease to take over a 12,000-sq.-ft. space in Manhattan’s Times Square at the same time fashion-forward apparel retailer Forever 21 is preparing to move into the neighborhood in space last occupied by a Virgin Megastore. Forever 21 expects to open in April, while Sephora has targeted a summer opening. 9 On second thought … With an eye on the economy, 99 Cents Only Stores had decided to close 7 Operate centrally, execute locally … Macy’s is eliminating 7,000 positions and consolidating four regional divisions into one headquarters operation, including centralized buyers. At the same time, however, it’s building on the success of its localized merchandising efforts by rolling out My Macy’s to about 70 markets, each with a district-level office advising the central buyers on local preferences. 2 Island hopping … Puerto Rico is the new frontier for IHOP, which could be opening its first locations on the island later this year. An investor group has put up $12 million with the intention of opening seven 5,000-sq.-ft. units, each of which employs 50 to 60 people. With about 99 percent of its restaurants run by franchisees, IHOP boasts approximately 1,375 locations in 49 states, Mexico and Canada. 5 Deal or no deal … Rapid implementation of strategies and increased profits can be achieved when people with the right skills and experience are included in financial and operational decision making, according to a McKinsey & Co. survey of executives. Also important is making decisions based on transparent criteria and a 3 up shop in Texas and pull back to its West Coast base. Then the Lone Star State’s economy worsened and things picked up for 99 Cents Only Stores, to the tune of an 8.6 percent same-store sales gain in January. The retailer’s directors have now decided to close one-third of its Texas stores and re-evaluate plans for the remainder in six months. If you can’t say anything good … Most retailers haven’t had a lot to brag about lately. Still, it was surprising when Wal-Mart joined a growing list of retail Is Tag It? … Microsoft has introduced a product that could get consumers shopping in a whole new way. Microsoft Tag employs high capacity color barcodes (HCCBs) that allow 10 8 consumers to use phonebased cameras to access information and entertainment online, as well as respond to print and other offline advertising and promotions. Merchants can use the technology to track response to specific ads. 16 STORES / MARCH 2009 WWW.STORES.ORG http://WWW.STORES.ORG

Table of Contents Feed for the Digital Edition of STORES Magazine - March 2009

STORES Magazine - March 2009 Contents Executive Editor's Page President's Page Movers and Spenders What Shoppers Think Take Your Laundry Online 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Luxury for Less Q & A CONCEPT2WATCH Checkout Management Online Entrepreneurs Sustainability POS Online Strategy Online Scheduling SaaS Online Marketing Merchandise Security PCI Compliance LPinformation Supplier Directory Exception Reporting Industry Perspective Theft Research LOEB Retail Letter ARTS Update Point of View NRF News Retail Crossword Retail Industry Calendar End Cap

STORES Magazine - March 2009

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