REAL ESTATE

Ann Taylor to make Canadian debut

BY Katherine Boccaccio

New York — Ann Inc. announced Thursday that it will open two stores in Toronto, in fall 2012, marking the apparel retailer’s first foray outside the United States.

“Toronto is the perfect location to open our first international stores. It is a beautiful city filled with modern, sophisticated women who lead busy lives, and we are excited to bring a trusted fashion destination that offers great style as well as incredible versatility,” said head designer Lisa Axelson.

According to Brian Lynch, Ann Taylor brand president, Canada is a natural global jumping-off point because of the “strong awareness Ann Taylor already enjoys in Canada,” he said.

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Oct-20-2012 08:26 am

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Oct-20-2012 08:26 am

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Oct-01-2012 08:25 am

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REAL ESTATE

Sears Canada unveils refreshed concept in four Ontario stores

BY Katherine Boccaccio

Toronto — Sears Canada said Thursday it will unveil a new, refreshed store concept in four Ontario locations, designed to illustrate the retailer’s renewed commitment to customer service and store experience.

The four stores – in Barrie, Belleville, Newmarket and at the Lime Ridge mall in Hamilton – will open on May 25, and will the first step to the company’s plans to transform the Sears shopping experience in Canada, said Sears.

Changes in the stores include: wider aisles, less clutter and streamlined merchandise offerings, expanded sections and, in Newmarket, improved checkout processes.

“Our goal with the refreshed stores is to create a stage for product in an authoritative way to make it easier for our customers to shop for the items they expect from Sears and to demonstrate our leadership in the marketplace,” said Calvin McDonald, president and CEO, Sears Canada.

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FINANCE

Fred’s profit beats in Q1, on track to open up to 28 stores this year

BY Staff Writer

Memphis, Tenn. — Fred’s Inc. reported Thursday that profit for the quarter ended April 28 rose 9.9% to $10.5 million, compared with $9.5 million in the year-ago period.

Revenue increased 3.3% to $500.5 million, edging Wall Street’s expected $500.3 million, but same-store sales dipped 0.4%.

The company opened three new regular stores and four express pharmacy stores during the quarter, as part of its plan to open 22 to 28 stores this year.

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