RANDOM NOTES: Wachovia Corp., Charlotte, N.C., is going green. The financial-services giant will open its first eight green banking offices, at various locations in Southern California, starting in November. The banks are part of a larger initiative the company recently launched that includes plans to build at least 300 green financial centers in accordance with Leadership in Energy and Environmental Design (LEED) certification standards by the year 2010. The new banks are based on a prototype design developed by Callison, Seattle, that combines clean, streamlined spaces with private meeting reas.… Macy’s has reopened its store in Miami Beach’s trendy South Beach neighborhood. Following a four-month renovation, the 91,118-sq.-ft. space has been transformed with an Art Deco look. The original canopy of the store, which opened in 1953 as Burdines, and its signature “Sunshine Fashions” sign have been restored, and are lit every night until 1 a.m.… Holt Renfrew’s new 137,000-sq.-ft. store in Vancouver, British Columbia, features an attention-getting facade clad in layers of “quilted” glass, giving it a textured, bubble-glass effect. The glass, which allows daylight to flow into the finely detailed, chic store, has a nighttime sparkle. A dramatic, soaring center atrium is made up of two oval-shaped floor openings. Janson Goldstein LLP, New York City, designed the space.
PERSONNEL UPDATES: Peter Cronin has joined WD Partners, Dublin, Ohio, as executive director of market research. Previously, Cronin was the co-founder and chief learning officer for Concord, Mass.-based Brand IQ, where he directed a team of brand strategists and researchers working in the restaurant, retail and consumer-packaged-goods industries.… Donn Cherry has joined RYA, Dallas, as design director.
UPCOMING EVENTS: The 2007 InternationalRetail Design Conference (IRDC) will be held Sept. 19-21, at the InterContinental Buckhead, Atlanta. For details, visit www.irdconline.com.
DESIGN COMPETITION: Chain Store Age is accepting entries for its annual Retail Store of the Year design competition (see page 105), which features a new category honoring environmental sustainability. Go to chainstoreage.com (click on “A Call for Entries”) for applications, or call Marianne Wilson at 212-756-5261 ([email protected]) for more information.
Sears Holdings ceo unhappy with 2Q
HOFFMAN ESTATES, Ill. Sears Holdings today reported net income of $176 million, or $1.17 per diluted share, for the second quarter ended Aug. 4, compared with net income of $294 million, or $1.88 per diluted share, for the second quarter ended July 29, 2006. The company attributed the decline in its second quarter results from the same quarter last year to lower operating results at both Sears Domestic and Kmart, which were partially offset by improved operating results at Sears Canada.
“We are disappointed with our second quarter results. Our gross margins came under pressure from sales declines and increased promotional activity, and as a result, our net income was significantly below last year and our expectations,” said Aylwin Lewis, Sears Holdings’ ceo and president.
Sears Domestic’s comparable-store sales declined 4.3% for the quarter, while Kmart’s comparable-store sales declined 3.8%. Total domestic comparable-store sales declined 4.1%. The company reported lower sales across most merchandise categories at both Kmart and Sears Domestic, partially offset by increased sales of women’s apparel at both Kmart and Sears Domestic, as well as within consumer electronics and footwear at Sears Domestic. For the quarter, total revenues declined $0.6 billion to $12.2 billion in fiscal 2007, as compared to $12.8 billion for the second quarter of fiscal 2006.
Lane Bryant pres. joins Christopher & Banks
MINNEAPOLIS Former Lane Bryant president Lorna Nagler will join Christopher & Banks as president and ceo effective Aug. 31. She will replace Matthew Dillon, who resigned from his position as president and ceo and as a member of the board of directors today. Nagler has also been elected as a member of Christopher & Banks’ board of directors effective Aug. 31.
Nagler most recently served as president of Lane Bryant, a division of Charming Shoppes. Before joining Charming Shoppes in April, 2002, Nagler served as a senior vp and general merchandising manager for apparel and jewelry at Kmart Corp.