Stores Magazine - December 2007 - (Page 18)

trEnDS 10 THINGS YOU MAY HAVE MISSED Compiled by David P. Schulz 1 Prepared (food) or not … Publix plans to open freestanding Crispers restaurants next to its super- real estate assets and lighten our balance sheet,” according to CFO Harry Yanowitz. Bogus bills … Minnesota-based grocery distributor and retailer SuperValu almost coughed up $10.1 million to thieves in a wire fraud case uncovered by the FBI. The company received e-mails purportedly from suppliers American Greetings and Frito Lay directing that $6.5 million and $3.6 million, respectively, be deposited in new bank accounts. Details of the scam are contained in sealed court records involving forfeiture cases in Boise, Idaho. 4 contact with the issuing banks, TJX and Fifth Third knew that the issuing banks were part of a financial network that relies on members taking appropriate security measures.” Tax-free life prolonged … When the U.S. House of Representatives accepted the Senate’s seven-year extension of the Internet Tax Moratorium, President Bush said he was ready to sign the measure that prevents state and local governments from imposing taxes on Internet service. This is the third time the Internet tax ban has been extended — now until 2014 — since its adoption in 1998. markets in the south Florida communities of West Palm Beach, Royal Palm Beach, Davie and Coconut Creek. The restaurants, which offer soups, salads, sandwiches and wraps, now operate in 43 Publix supermarket locations. Tommy + Macy … Taking merchandise exclusivity to a different level, Tommy Hilfiger’s men’s and women’s apparel, accessories and home goods will be sold only at its own stores and 9 2 carbohydrates of each offering on menu boards and printed menus of restaurants with 14 or more units. Schwarzenegger labeled the measure “impractical,” and said it discriminated against chains in favor of smaller operators. Charlotte ruse … It’s not Home Depot, nor is it Expo Design Center. The store that opened in Charlotte, N.C., is Home Depot Design Center. Described as a female-friendly store, the 100,000-sq.-ft. location includes 11,000 sq. ft. of furniture and accessories from the Home Decorators Collection, as well as a floral department. A home storage section features baskets, boxes and closet-organizing systems. And there’s not a forklift or 2x4 in sight. Macy’s locations beginning next fall. The deal includes macy’s.com and all Macy’s store divisions except Bloomingdale’s. No financial details of the agreement were released. 3 Selling the store and keeping it, too … Auto aftermarket retailer Pep Boys will realize $162.2 million from a sale-leaseback deal involving 34 stores. Initial leases are for 15 years, with four five-year options. The deal “represents the first step in our efforts to monetize our Eastward ho! … WalMart is spending about $875 million to buy out minority shareholders in Seiyu, the 400-unit Japanese supermarket chain in which it began investing five years ago. Meanwhile, Tiffany announced plans to open a Tiffany & Co. The Men’s Store boutique inside Tokyo department store Isetan. Ruth’s Chris Steak House opened its first location in Japan, a franchised unit in the civic center area of Tokyo. Going a step further, Staples and UPS have opened two co-branded stores in Beijing, China, with two more slated to bow in Shanghai before year’s end. 5 7 10 Seas of red … Video rental chain Movie Gallery has declared bankruptcy, but hopes to reorganize and get back to business, while home furnishings retailer Bombay Co. appears to be down for the count. Movie Gallery plans to close at least 520 of its 4,430 stores; Bombay’s new owners, Gordon Brothers and Hilco, intend to close all 320 of the retailer’s U.S. stores. Unburdened chains … California’s Gov. Arnold Schwarzenegger has vetoed a bill that required posting the calorie count, fat content (saturated and trans) and amounts of sodium and 6 More fallout from security breach … A federal judge’s ruling may mean that retailers will be as liable for losses as the banks issuing credit and debit cards when identity theft or other fraud occurs. In a case involving TJX and its payment card processor Fifth Third Bancorp., Judge William Young in Boston said that even though the two didn’t have “direct 8 18 STORES / DECEMBER 2007 WWW.STORES.ORG http://macys.com http://WWW.STORES.ORG

Table of Contents Feed for the Digital Edition of Stores Magazine - December 2007

STORES - December 2007 Contents Executive Editor's Page President's Page Holiday Shopping Extravagance What Shoppers Think 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Niche Marketing Eight Predictions for 2008 Concept2Watch Merchandising Strategy Sourcing E-Commerce Supply Chain Warehouse Management Software Contactless Payments Marketing Marketing Online Loeb Retail Letter ARTS Update Point of View NRF News Retail Industry Calendar Last Laugh

Stores Magazine - December 2007

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