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Mother's Day Spending May be Down in Slower Economy
(AFX News Limited - May 9, 2008)Analysts don't expect a dramatic drop in Mother's Day spending -- which ranks fourth behind the winter holidays, back-to-school buying and Valentine's Day -- but think it will be lighter despite the extra cash some consumers have from their tax refunds and stimulus payments. (full story)
President/COO of Macy's West Promoted
(Associated Press - May 9, 2008)Department store chain Macy's Inc. promoted President and Chief Operating Office Daniel Edelman of Macy's West to president of international retail development. (full story)
Some U.S. Retailers and Tobacco Part Ways
(United Press International - May 9, 2008)A spokesman for Wegmans, a chain of 70 supermarkets, said there was far more support than complaints when the retailer pulled tobacco products from their shelves. Some city and state governments are considering a ban of tobacco sales at pharmacies. (full story)
Shopping Mall Owner Gets 7-Month Extension on $2.6 Billion
(International Herald Tribune - May 9, 2008)Centro, which owns around 700 shopping malls in the United States, borrowed heavily last year to finance a rapid expansion there. But the company ran into trouble in December after credit markets dried up, losing its usual avenues of borrowing and putting it under pressure to sell assets to raise cash. (full story)
$4.48 Million Helps Raze Shopping Area
(Milwaukee Journal Sentinel - May 9, 2008)The Grafton Community Development Authority has approved giving the owner of Manchester Mall $4.48 million to help raze the shopping center and build a new mixed-use complex. (full story)
Mall Gets 72-hour Deadline to Deal With Abestos, Mold
(The Blade, Toledo, Ohio - May 9, 2008)The city plans to shut the nearly empty South Toledo mall if its owners do not clean up toxic mold and seal off the asbestos contamination found there by inspectors on May 2. (full story)
Southcenter Mall Expansion to Open July 25
(The Seattle Times - May 9, 2008)At 400,000 sq. ft., the expansion makes room for 75 new specialty shops, including several firsts for the Seattle area: PINK, a retail concept by Victoria's Secret; Love Culture, which sells women's clothing, accessories and shoes; and Gilly Hicks, a new brand of intimate apparel and loungewear by Abercrombie & Fitch. (full story)
Department Stores Mostly Down, Saks is Standout
(AFX News Limited - May 8, 2008)Shares of department stores mostly slumped Thursday, pressured by disappointing same-store sales from Bon-Ton Stores Inc. and Retail Ventures Inc. Saks Inc., however, was a standout, edging higher after the luxury retailer's April results handily beat Wall Street expectations. (full story)
Build-A-Bear to Open 20 US Stores in 2008
(AFX News Limited - May 8, 2008)It expects to open 20 stores in the US in 2008, with 5 new stories opening in Ireland, France and the UK. In 2007, the company opened 35 new stores in the US, and 11 new stores in Ireland, France and the UK. (full story)
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