FINANCE

Casual Male Q4 profit up on charge; plans growth of DXL concept

BY Katherine Boccaccio

Canton, Mass. — Casual Male Retail Group reported Thursday that net income for the quarter ended Jan. 28 surged to $33.5 million, from $5.3 million in the year-ago period. Without a $23 million trademark impairment charge, net income was $5 million in the quarter.

The retailer of big & tall men’s apparel and accessories also reported flat fourth quarter sales of $111.5 million and a slight same-store sales increase of 0.8%.

The company said it is focused on the expansion of its streamlined DXL concept, with plans to open 35 new stores in 2012. It will close approximately 70 Casual MaleXL and two Rochester Clothing stores during the year.

After a successful test in 2011 of the smaller store format, Casual Male announced that it expects to have 150-175 DXL store locations by the end of fiscal 2015 and said it sees the potential for DXL to ultimately reach up to 250 stores, an increase of 150 stores. With the expansion of DXL will be a trimming of the larger Casual MaleXL stores. Casual Male said it expects to have 150 Casual MaleXL stores and six Rochester Clothing stores by the end of 2015.

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OPERATIONS

ICSC Study: U.S. office workers provide daytime selling opportunities

BY Katherine Boccaccio

New York City — A study released Wednesday by the International Council of Shopping Centers found that determining what office workers spend going to work, during the business day, and immediately after work prior to returning home can provide a better understanding of the opportunities that exist for retail, restaurant, and service establishments in proximity to office parks or buildings.

Among the survey highlights:

  • Office workers account for approximately one-fifth of the U.S. workforce and they spend about $195 per week on all expenses associated with commutation and purchases on goods and services made within the vicinity of their office building.
  • In markets deemed to have ample retail offerings total spending was about 2.5 times higher than markets deemed to have limited offerings.
  • The average weekly spending on goods and services is about $102 per week. Of that, the highest is grocery stores at close to $20 per week, followed by discount stores at a little over $10 per week.
  • The largest single cost incurred by office workers is on transportation, which accounts for approximately 18% of total workweek expenditures.
  • Online personal spending accounts for 15% of the typical average weekly expenditures – this fluctuates greatly by market with suburban having by far the highest total share of online spending.

“The study revealed that significant opportunities exist for some types of retailers, restaurateurs and service establishments given low sales penetration rates with office workers,” said Michael P. Niemira, chief economist and VP of research for ICSC.

The study found office worker spending on goods and services and on meals generates $184 billion over the course of the year. Moreover, office worker spending increases by approximately 140% in markets with ample retail offerings over limited ones, suggesting that there is potential for additional offerings in these limited areas.

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REAL ESTATE

Fresh & Easy and Hill Phoenix collaborate on GreenChill Platinum store

BY Katherine Boccaccio

Folsom, Calif. — Fresh & Easy Neighborhood Market received the Environmental Protection Agency’s GreenChill Partnership’s highest award — Platinum-Level Store Certification — for green refrigeration technology at its new store in Folsom, Calif. It is just the second store in California, and one of just supermarkets in the nation, to achieve platinum certification.

A typical supermarket in the United States uses approximately 3,500 lbs. of refrigerant. By contrast, the new Fresh & Easy store uses just 70 lbs. – a 98% reduction.

“Using new natural refrigerants puts Fresh & Easy on the forefront of sustainability in our industry and ultimately makes these emerging technologies more cost effective for everyone,” said Steve Hagen, director of procurement and engineering at Fresh & Easy Neighborhood Market.

The store utilizes a Second Nature compact chiller system from Hill Phoenix that uses medium-temperature glycol to condense low-temperature CO2. So far, it is the only supermarket in the nation using this type of system, according to Hill Phoenix.

“Fresh & Easy selected a Second Nature Compact Chiller system that effectively eliminates all HFCs from the store’s refrigeration system by using medium temperature glycol to condense the low temperature CO2,” explained Henry Pellerin, director, marketing programs for Hill Phoenix. “This is typically achieved with an HFC refrigerant.”

GreenChill’s Store Certification Program is the only certification program that focuses on greener refrigeration. The program’s chief goal is to reduce refrigerant emissions from supermarkets that damage the Earth’s protective ozone layer and contribute to global warming. A pound of leaked refrigerant can cause more global warming than 2,000 lbs.-4,000 lbs. of carbon dioxide.

Fresh & Easy joined EPA’s GreenChill Partnership in 2009. The company received EPA’s Annual Environmental Achievement Award in 2011 for having the most GreenChill Store Certifications in the nation.

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Z.Ali says:
Mar-28-2013 11:21 am

Platinum is also stronger
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Z.Ali says:
Mar-28-2013 11:21 am

Platinum is also stronger than gold and because it naturally gives off a silvery shine, it is unnecessary to plate it with rhodium and will keep its brilliance forever.buy 5f-akb-48

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