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Children’s Place Profit Rises

BY CSA STAFF

New York City Children’s Place Retail Stores reported higher quarterly profit on Thursday, helped by its exit from the Disney Stores business and increased same-store sales.

The company said net income rose to $19.5 million in the first quarter that ended on May 3, from $14.7 million a year earlier.

Net sales rose 12% to $400.2 million as same-store sales increased 5%.

Children’s Place said it was “encouraged” by customer response to its summer merchandise. The company said the latest quarter’s results showed it is making progress toward “returning the company to its historical level of profitability.”

The company recently decided to return more than 200 stores to Walt Disney Co. Earlier this month Disney said it took over 220 Disney Store outlets in North America from Children’s Place and would close about 98 stores in the United States and two in Canada.

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Office Depot receives pre-LEED certification for new prototype

BY CSA STAFF

DELRAY BEACH, Fla. Office Depot announced that it has become the first company to achieve volume pre-certification under the pilot Leadership in Energy and Environmental Design (LEED) Portfolio Program for its store prototype design – the retailer’s master set of drawings – from the United States Green Building Council (USGBC).

A USGBC member since 2007, Office Depot was part of the first group of participants to become involved in the pilot of the Portfolio Program. Part of the initiative involves piloting a volume certification path to enable companies to integrate LEED attributes into a prototype design and apply it across multiple buildings.

Office Depot has implemented a number of initiatives over the past couple of years to improve the energy efficiency of our stores and reduce our environmental footprint, said Ed Costa, vp of construction for Office Depot. Achieving Volume Pre-Certification through LEED affirms our leadership position in the retail industry as well as in general building construction. The entire organization is proud of this accomplishment. 

The first Office Depot store to be built to this prototype is located in Austin, Texas and is scheduled to open late next month. According to the USGBC, LEED-Certified buildings reduce energy usage, create less waste and emit fewer harsh chemicals.

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Weis Markets to acquire Giant Markets

BY CSA STAFF

SUNBURY, Pa. Weis Markets announced its plans to purchase the stores of Binghamton New York-based Giant Markets. It expects to complete the purchase in by Aug. 21.

Weis Markets will purchase Giant Markets’ Broome County stores located in Binghamton, Vestal, Endicott, Endwell and Johnson City.

 

“This acquisition is an excellent strategic fit for our company. Giant Markets is the market leader in Broome County where they have excellent locations, modern stores and a strong market presence,” said Weis Markets’ vice chairman Jonathan Weis. “For many years, they have been a significant part of the community and they’ve offered an excellent combination of quality, value and service. We are pleased to be working with their associates and look forward to welcoming them to our organization.”

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