Wal-Mart Stores Inc. expects to hire more than 22,000 people to staff its new or expanded domestic stores this year. The hirings will come from the opening of 142 to 157 stores new or expanded stores in 2009…
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
Warrior Sports Sues Law Firm Over Patent Lapse
Warrior Sports Inc. has sued a Detroit law firm for $33 million because two of its patent attorneys let a lacrosse stick patent lapse in 2004 after failing to pay a required maintenance fee on time. Consequently, the suit claims, competitors entered the m
Saks’ Comps Tumble 26.6% in May
Saks Inc. announced that owned sales totaled $166.1 million for the four weeks ended May 30, 2009 compared to $223.9 million for the four weeks ended May 31, 2008, a 25.8% decrease. Comparable store sales decreased 26.6% for the month…
J.C. Penney’s May Comps Decline 8.2%
J.C. Penney Co. Inc. reported comparable store sales decreased 8.2% for the four weeks ended May 30, slightly better than the company's guidance for sales to decrease 9% to 12% and compared to a 4.4% decrease last year. Total sales in May decreased 6
Target Sees 6.1% Decline in May Comps
Target Corp. reported same-store sales fell 6.1% in May. Total sales for the four weeks ended May 30 fell 2.3%to $4.46 billion…
May Comps Slump 23.5% at Neiman Marcus
Neiman Marcus, Inc. reported May comps plunged 23.5%. Net sales were down 21.5% to $246 million from $313 million. In the four-week May period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Go
Macy’s May Comps Slide 9.5%
Macy's, Inc. reported total sales of $1.743 billion for the four weeks ended May 30, 2009, a decrease of 9.5% compared with total sales of $1.926 billion a year ago. On a same-store basis, sales were down 9.1%. The company said results were consisten
Iconix Raises $131M in Stock Offering
Iconix Brand Group, Inc. expects to receive proceeds of approximately $131.4 million from the offering of 9.2 million shares. Proceeds will reach approximately $152.9 million if the underwriters exercise their option to purchase additional shares in full.
Bakers Footwear’s Comps Rise in May
Bakers Footwear Group Inc. said its same-store sales rose 3.1% in May. Overall for the four-week period ended May 30 rose slightly to $15.4 million from $15.1 million during the same period a year ago…
OrthoLite Launches First Bio-Based Product and Opens Factory
OrthoLite, the supplier of open cell foam insoles in the performance footwear category, launched its first bio-based offering, OrthoLite Eco Series. The company opened a new company-owned factory dedicated to manufacturing the Eco Series formulation…
Tilly’s Opens 103rd Store
Tilly’s, the surf and skate chain, opened its 103rd location in Hamilton Mall in Mays Landing, NJ, and said it will open “numerous stores” in 2009. The openings will include locations in California, New Jersey, New York, and Virginia. Tilly’s will host it
Sof Sole Partners with College Basketball Coaches Association
Implus Footcare LLC, the supplier of below the ankle footwear accessories, said its Sof Sole footbed and hosiery brand and the National Association of Basketball Coaches (NABC) has formed a partnership. As an official partner, Implus will provide Sof Sol
RECALL: Outdoor Playset Gliders
About 1,800 outdoor playset gliders made by Backyard Play Systems LLC, of Monroe, Mich. have been recalled. The CPSC said the retaining rings used to secure the gliders to the playset can become loose or detached, posing a fall hazard to children. Backyar
Asics Leases Distribution Center in DeSoto, MS
Asics America has signed a 224,000-square-foot industrial lease at 601 Expressway Drive in Horn Lake, MS, according to an article on costar.com. The athletic footwear manufacturer is scheduled to take occupancy in July…
HEAD N.V. Extends Debt Exchange Offer
Head N.V. said its subsidiary, HTM, is extending the early tender date of its previously announced private exchange offer (the “Exchange Offer”), to exchange its outstanding €135,000,000 ($191.5 million) 8.5% Senior Notes due 2014 (the “Existing Notes”) f
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