Bloomingdale’s to expand outlet concept with three new stores
Cincinnati — Macy’s on Monday said it will open three Bloomingdale’s Outlet stores in the fall. The new locations will join the first four Bloomingdale’s Outlet stores opened in fall 2010 when the concept was launched.
The new Bloomingdale’s Outlet stores, which will range from 25,000 sq. ft. to 24,000 sq. ft. are scheduled to open in the following shopping centers with an upscale outlet store focus: Miromar Outlets, Estero, Fla.; Wrentham Village Premium Outlets, Wrentham, Mass.; and Woodfield Village Green, Schaumburg, Ill.
“Our first four outlet stores have helped us to learn this business and refine our merchandising and in-store presentation said Michael Gould, chairman and chief executive officer of Bloomingdale’s. “We continue to see opportunity for growth, and these three new locations will help us to extend the geographic reach of Bloomingdale’s Outlets and introduce the concept to new customers.”
Comps not stirring up The Shack
FORT WORTH, Texas — A decline in T-Mobile postpaid wireless sales, television converter boxes, digital televisions and digital music players contributed to a first-quarter comps drop of 0.6% at RadioShack. However, strong sales in its kiosk division helped drive RadioShack’s total first-quarter sales up 2.1% to $1.06 billion, compared with $1.04 billion for the 2010 first quarter.
Net income for the first quarter declined to $35.1 million, or 33 cents per diluted share, compared with net income of $50.1 million, or 39 cents per diluted share, reported for the same period last year.
Jim Gooch, president and CFO, said, "Despite a challenging economy and tough weather conditions, our first-quarter results were generally in line with our internal expectations. We expect the softness in our business to continue during the second quarter before we begin to see the benefits of our merchandising and sales initiatives improving both revenue and income trends in the back half of the year. In addition, growth in our mobility business will be aided by our tablet computer offerings, which are being introduced this month."
RadioShack currently expects full-year 2011 diluted EPS to be in the range of $1.60 to $1.80 per share (previous guidance was for full-year 2011 diluted EPS in the range of $1.60 to $1.90). RadioShack continues to expect total net sales and operating revenues will increase in the low- to mid-single-digit percent range in 2011.
PetSmart outfits dogs with help from Martha Stewart
PHOENIX — PetSmart announced that is introducing an exclusive line of pet apparel and accessories from Martha Stewart.
“Dogs love their walks — rain or shine. But the spring season can bring with it a few challenges for pets and their parents when it comes to enjoying outdoor activities,” said Gayle Franger, VP merchandise marketing for PetSmart. “With quality clothing options that protect dogs from the elements, PetSmart is helping pet parents keep their pets comfortable, regardless of the weather forecast.”
The Martha Stewart Pets line will include a rain coat, twill trench coat, windbreaker and three-piece bowl set.