Citi Trends pulls back on expansion
Savannah, Ga. — Citi Trends said Friday that it would cut jobs and open fewer stores than it planned in an effort to save money after losing $10 million in the second quarter. The company said it would open new stores only where it had already made commitments, resulting in about 55 new locations in 2011 and five in 2012.
The company also said it would cut 40 jobs at its stores, distribution centers and corporate offices in Savannah, Ga.
Citi has lost money in three of the past five quarters and been forced to slash prices to clear merchandise.
RILA praises California ‘e-fairness’ legislation
Arlington, Va. — The Retail Industry Leaders Association (RILA) thanked California Governor Jerry Brown for signing legislation that would help level the playing field between online-only retailer Amazon.com and brick-and-mortar stores across California.
"For too long U.S. tax policy has favored online-only retailers like Amazon over the brick-and-mortar stores that create jobs and serve our communities, and it’s time to end that special treatment and give all businesses the chance to compete and create jobs in a free and fair market,” said Katherine Lugar, RILA executive VP for public affairs.
California joins Texas and a growing list of states that have passed or are drafting e-fairness legislation to address antiquated pre-Internet rules that allow online retailers without a "physical presence" in a state to skirt the obligation of collecting and remitting state sales taxes, giving those e-tailers a perceived price advantage over local retailers. After decades of federal inaction, these state efforts have sparked a renewed interest in federal legislation that would level the playing field nationally for all retailers.
Stater names senior VP retail operations
San Bernardino, Calif. — Dan Meyer has been promoted to the position of senior VP, retail operations of Stater Bros. Markets. A new position in the company, Meyer will be responsible for the retail operations of Stater Bros.’ 167 supermarkets as well as overseeing the day-to-day operations of the Corporate Training Center.
Meyer, who joined Stater Bros. in 1971, most recently served as senior regional VP.