Published March 25, 2010
Howard Schultz , Saks , Starbucks
Starbucks is ready to start opening cafes again after a couple years of cost cutting resulted in the closure of hundreds of locations. During its fiscal year, the company plans to add 100 US stores as well as 200 internationally.
Management has high expectations for improved sales growth as the economy recovers. Starbucks also declared its first dividend at its annual meeting of shareholders yesterday.
Continue reading ‘Starbucks Ready for Growth Again’
Saks will close “a few stores” that are underperforming and have expiring leases, according to CEO Stephen Sadove speaking at a recent investor conference. Saks will not be breaking any leases because of the high costs that process involves, he says.
Sadove didn’t specifically name any stores it will shut, but yesterday the company announced that it will close two stores in Portland, OR’s Pioneer Place Mall, which is operated by General Growth Properties.
Continue reading ‘Saks Will Close Stores’
Department store sales are improving and many of the big chains are doing a good job controlling inventories after a dismal start to the recession. But for this to continue, they’re probably going to start closing some doors, according to one analyst.
“We’ll see more stores close than open in 2010,” says Walter Stackow, who follows retail for Manning & Napier, in a Reuters interview.
Continue reading ‘Department-Store Closures on the Horizon’
Published December 18, 2009
holiday sales , Saks
So as the holiday season enters its last few shopping days, it looks as if retailers aren’t going the Black Friday route and offering deep discounts to draw in throngs of shoppers.
“It’s a much more controlled environment,” Saks CEO Stephen Sadove was quoted saying in the Wall Street Journal.
Continue reading ‘Retailers Not Holiday Deep Discounting’
Published December 4, 2009
Abercrombie , Aeropostale , Black Friday , Children's Place , Gap , ICSC , Nordstrom , Ross Stores , Saks , TJX Cos.
November’s same-store sales were released yesterday, and retailer’s results were far from overwhelming. The International Council of Shopping Centers says sales overall were actually down 0.8% year over year for the month.
Dow Jones has a pretty comprehensive list of individual retailer performance, and there are a lot of duds. Saks plunged 26.1%. Abercrombie & Fitch fell 17%. Children’s Place dropped 13%.
Continue reading ‘A Good Black Friday? Ask Abercrombie’
Published November 9, 2009
Nordstrom , Ruby Tuesday , Saks , Sandy Beall
Ruby Tuesday menus are now suggesting what wine to pair with your lobster entree. The New York Times takes an inside look at the 900-restaurant chain and its founder Sandy Beall.
The changes at the chain has lost it a few customers, but “very few people miss the roller skates on the wall and the bad food,” Beall says.
Continue reading ‘Ruby Tuesday Tries the Upscale Approach’
Published March 3, 2009
Aeropostale , Ann Taylor , Hot Topic , J. Crew , Limited Brands , Macy's , Saks , sales results , Talbots , Wal-Mart
Analysts are predicting that most retailers had another tough sales month in February.
Department stores and apparel chains are seen getting hit the hardest, with same-store sales drops forecast at 10.1% and 8.6% respectively, according to one article.
Continue reading ‘February Another Tough Sales Month’