REAL ESTATE

Burlington Coat Factory to open at Janss Marketplace

BY CSA STAFF

Thousand Oaks, Ill. Burlington Coat Factory and NewMark Merrill Cos. have announced plans to open an 85,000-sq.-ft. location in the space formerly occupied by Mervyn’s in Janss Marketplace in Thousand Oaks, Calif.

The new store, Burlington Coat’s first in Thousand Oaks, is slated to open in September.

“The new Burlington will appeal not only to local shoppers by providing a unique shopping experience for the whole family, it will also benefit the local community,” said Thomas Kingsbury, president and CEO of Burlington Coat Factory. “We are thrilled to bring Thousand Oaks new jobs with the opening of the new store.”

“We are excited to welcome such a dynamic retailer to Janss Marketplace,” added Sandy Sigal, CEO and president of NewMark Merrill Cos. “When Mervyn’s left the center we were looking for an upgrade which would be an excellent complement to our existing retailers including Old Navy, Mann Theaters, Toys “R” Us and many other local and national merchants. Burlington Coat Factory’s unique shopping experience and breadth of merchandise is ideal for our shoppers and tenant mix.”

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FINANCE

Tiffany’s Q1 profit sparkles

BY CSA STAFF

New York City Tiffany & Co.’s net income more than doubled in the first quarter as its revenue rose in the United States and soared 50% in Asia, the company said Thursday.

The jeweler said it earned $64.4 million in the three months ended April 30. That compares with $24.3 million a year earlier. Revenue rose 22% to $633.6 million.

Revenue in the Americas increased 22% to $315.3 million, versus a 31% drop in the year-ago period. Adjusted for currency fluctuations, revenue rose 20%, and same-store sales rose 15%, led by the flagship on New York’s Fifth Avenue, where the figure rose 26%.

In the Asia-Pacific region, which doesn’t include Japan, Tiffany’s revenue soared 50% to $122.3 million. During the first quarter, the company opened its third store in Shanghai; by the end of the period, it operated 11 stores in China. Company officials said that they plan to have a total of 30 stores in China within the next five years.

In Japan, revenue slipped 2% to $115 million. Business in Europe rose 25% to $68.6 million.

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News

Best Buy Mobile enhances Web site

BY CSA STAFF

MINNEAPOLIS Best Buy Mobile has annouced the re-launch of BestBuy.com/Mobile. According to the company, the new Web site will include such new features as online purchasing and Instant Ship, the new online hub offers convenient, customer-focused solutions for on-the-go gadget shoppers.

Through the new Web site, customers can now purchase a mobile phone online and have it shipped to their home or they can pick it up in-store. For customers needing assistance while choosing their phone online, Best Buy Mobile has a dedicated call center to respond.

 

“The capabilities within the enhanced site in combination with our in-store experience give Best Buy something completely and totally unique in the mobile phone marketplace,” said Shawn Score, president of Best Buy Mobile. “Now, we are truly a multi-channel mobile phone retailer supporting customers when and where they choose to engage us.”

 

Best Buy’s Mobile Web site provides customers with a larger range of functions, which include:

    * Online purchases: Customers can purchase a mobile phone with a contract using online channels. Customers place their order, and can then choose to pick up in store or have their new phone shipped directly to their home.    * Instant Ship: With Instant Ship, if a customer comes in and is qualified for a device that is not available in-store, the device can be ordered and shipped directly from the Web site. Instant Ship online improves the options of phones and colors for customers, and allows customers to have their new handset delivered right to their home.

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