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Chico’s FAS Acquires Fitigues

BY CSA STAFF

Fort Myers, Fla., Chico’s FAS announced Monday that it has acquired 12 of 14 retail locations of the Arizona-based clothing retailer Fitigues for an undisclosed price. The stores will operate as a new branded division of Chico’s.

“By bringing Fitigues under the Chico’s umbrella, we can provide the necessary capital, back office operations assistance, and leverage needed to successfully expand this brand across America over the next several years,” said Scott A. Edmonds, Chico’s president and chief executive.

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The Walking Co. to Buy Steve’s Shoes

BY CSA STAFF

Santa Barbara, Calif., The Walking Co., a wholly owned subsidiary of Big Dog Holdings, Inc., agreed to acquire substantially all of the assets of Steve’s Shoes, Inc. for approximately $4.2 million in a bankruptcy auction. Steve’s Shoes is one of the largest independent comfort shoe retailers in the country. Steve’s Shoes operates 45 stores in 22 states, primarily in the Midwest, under the store names Steve’s Shoes, Overland Trading Co., and Sole Outdoors. The Company total annual sales of about $35 million.

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B3 sales up despite soft home market

BY CSA STAFF

UNION, NJ Bed Bath & Beyond today reported net earnings of 38 cents per diluted share in the fiscal first quarter ended June 2. In the fiscal first quarter of 2006 the company reported net earnings of 35 cents per diluted share. Net sales for the fiscal first quarter of 2007 were approximately $1.55 billion, an increase of approximately 11.3% from net sales of $1.4 billion reported in the fiscal first quarter of 2006. Comparable-store sales for the fiscal first quarter of 2007 increased by approximately 1.6%, on top of an increase of approximately 4.9% in last year’s fiscal first quarter.

Steven Temares, ceo and member of the board of directors of Bed Bath & Beyond Inc. stated, “While we continue to see that the overall retailing environment, especially sales of merchandise related to the home, is challenging, we have taken a long-term approach to our business and work to continue to distance ourselves from our competitors by remaining focused on being our customers’ first choice for the products we offer, domestically, interactively, and over the long-term, internationally. Consistent with this, we were very pleased to have recently executed a lease for our first international store, located in Richmond Hill, Ontario, north of Toronto.”

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