FINANCE

Cache Same-Store Sales Fall 1% in April

BY CSA STAFF

New York Cache Inc. on Wednesday said same-store sales fell 1% in April as weak dress sales were offset by strong sportswear sales.

For the 17-week year-to-date period, same-store sales rose 2%.

Total sales year-to-date rose 4% to $94.9 million, Cache said.

“Our April sales performance included double-digit same-store sales gains in sportswear, offset by difficult sales in long special-occasion dresses,” said Thomas Reinckens, chairman and CEO, in a statement. “We expect positive low single-digit comparable-store sales in May and June given the strength of our sportswear business and its increasing importance to our total business.”

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Bridgelux names new executives

BY CSA STAFF

SUNNYVALE, Calif. Bridgelux has announced the appointments of Keith Scott as vp of business development, and David Barnby as vp of sales and general manager for EMEA.

Scott joins Bridgelux from Philips Lumileds where he grew a multi-million-dollar, solid-state lighting business while serving in various marketing and product development roles during his six-year tenure.

Barnby was the EMEA vice president of sales and marketing for Pinnacle Systems (the consumer division of Avid Technology) where he was responsible for managing the consumer IT retail and distribution channels across Europe, Central/Eastern Europe, the Middle East and Africa.

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Wal-Mart to cash stimulus checks for free

BY CSA STAFF

BENTONVILLE, Ark. With Wal-Mart’s motto of ‘Save Money. Live Better,” it’s no surprise that the retailer has announced new incentives to get shoppers to spend their stimulus checks at its stores. The company announced that it will cash the rebates for free – with no purchase required – and will offer shoppers new rollbacks on items such as shampoo, breakfast juice and cereal.

As an added incentive to get shoppers to spend their checks at Wal-Mart stores, the company said it will refund the purchase fee on its Wal-Mart MoneyCard when any portion of the economic stimulus check is loaded onto the card.

Additionally, Sam’s Club will cash checks for free for its members. It will also offer its own economic stimulus bonus in the form of a $40 gift of membership on select product purchases May 11 through May 31 so new members will save all year long.

“We’re looking at this through the eyes of our customers, who need low prices all the time,” said John Fleming, evp and chief merchandising officer of Wal-Mart Stores, U.S. “And that’s what we’ve always done best,” he added.

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