STORES Magazine - March 2008 - (Page 20)

trEnDS 10 THINGS YOU MAY HAVE MISSED Happy anniversary … Self checkout is now second nature for many shoppers in thousands of stores worldwide, but the ability to scan, bag and pay for your own items without the assis- Compiled by David P. Schulz 1 Lord & Taylor department stores around the country. L&T has rebounded since being sold two years ago by what is now Macy’s Inc.; the fortunes of Fortunoff's, which was in Chapter 11 bankruptcy proceedings, have sagged since the founding family sold most of its stake in the company in 2004. Banking below the border … Wal-Mart last year abandoned efforts to move into the banking business in this country, but WalMart de Mexico is already operating Banco Wal-Mart with plans for 80 or more branches by the end of this year. Wal-Mart operates about 670 stores in Mexico, a country where more than three-quarters of the households do not have savings accounts. Banco Wal-Mart is trying to lure depositors with balance minimums of $5 and no commissions. 4 Penny for his thoughts … Carl Icahn, a mega-investor who has a history of agitating for change at companies in which he holds stakes, has reportedly taken a major position in JCPenney. Icahn is on record as saying retailers’ common stock shares have become “very cheap,” and wondered aloud why the companies were not buying back their own shares. 6 places. Gilly Hicks is seen as competing with American Eagle Outfitter’s aerie and Pink from Victoria’s Secret. Caution … Looks like a bumpy road toward consolidation in the automotive aftermarket sector as O’Reilly Automotive went public with 9 tance of a cashier has only been available for 10 years. NCR installed the first selfcheckout unit in a Kansas City, Kan., Ball's Food store in 1998. Last year, an estimated 2.5 billion consumer transactions were processed using NCR’s FastLane solution. Esc button … Dell, the world’s largest computer maker, says it plans to close 140 mostly mall-based retail kiosks in favor of expanding sales through mass merchants and other retailers. Wal-Mart has been selling Dell computers in its stores for about 10 months. Shoppers have been able to see, touch, examine and order computers, peripherals and supplies at the kiosks, but the products had to be shipped from warehouses. Deliverance … In an effort to raise its profile in a world dominated by Federal Express/Kinko’s and UPS Stores, courier service DHL is opening shipping kiosks this 7 2 On the avenue … Lord & Taylor is buying struggling specialty retailer Fortunoff’s. It plans to place Fortunoff’s jewelry and upscale home goods in the 47 3 RVI downsizes … Value City Department Stores apparently didn’t have much value in the eyes of the Schottenstein family. Retail Ventures, controlled by the Columbus, Ohio, family, has sold 81 percent ownership interest in the 113-store Value City to a group that includes VCDS Acquisition Holdings, Emerald Capital Management and Crystal Value. (Value City Furniture Stores are not included in the sale.) Retail Ventures receives no net cash proceeds in the deal and pays a $500,000 fee to the buyers. 5 year in most of Walgreens’ 6,500 stores. The rollout comes after a successful pilot project at 150 Walgreens in Texas, Colorado and Kansas. Down under wear … Gilly Hicks, inspired by the Australian city of Sydney, has been unveiled by Abercrombie & Fitch in an appeal to ’tweens and teens in the market for intimate apparel. The first Gilly Hicks store opened in Natick, Mass., and four others are in the works, though A&F is being closemouthed about dates and 8 its $845 million bid for CSK Auto. O’Reilly, based in Springfield, Mo., signed a confidentiality agreement, along with a number of other prospective CSK suitors, but didn’t sign a standstill agreement, which would have prevented it from appealing directly to CSK shareholders. Phoenix-based CSK has been looking for a buyer since December. Meals on the fly … Ruby Tuesday is planning to open five locations at U.S. airports, the first of which will bow early next year in Orlando and Detroit. The restaurants will be developed and operated by Areas USA, a subsidiary of the Spanish company Areas S.A., which owns and operates restaurants, retail stores and hotels in several countries including Spain, Portugal, Argentina, Mexico and Chile. 10 20 STORES / MARCH 2008 WWW.STORES.ORG http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - March 2008

STORES Magazine - March 2008
Executive Editor's Page
President's Page
Sam’s Club Gets Tough on RFID Stragglers
Athletes for Hire
What Shoppers Think
Goodwill Hunting
10 Things You May Have Missed
Numbers Worth Counting
Full Price/Markdown
Retail People
Luxury’s Shrinking Purse
Workplace Law
First Look
Green Retailing
Cosmetic Sales
Inventory Tracking
Loeb Retail Letter
ARTS Update
Point of View
NRF News
Retail Industry Calendar
Last Laugh

STORES Magazine - March 2008