REAL ESTATE

City Sports opening 11,000-sq.-ft. store in Manhattan

BY Marianne Wilson

Boston — City Sports announced that it will open its 22nd retail location in New York City, on March 26. It will be City Sports’ third location in New York City.

The new store, in the city’s financial district, will be the company’s largest retail location to date, with nearly 11,000 sq. ft. of selling space devoted to athletic apparel, footwear and equipment.

"We are absolutely thrilled to be opening a third retail location in New York City," said City Sports president and CEO Edward Albertian.

The shoe floor will be a key focal point of the new location sporting over 300 styles of footwear and a full staff to perform customer gait analysis and custom fittings. Other key highlights will include a full service racquet sports department that will offer demo racquets and free stringing for City Sports Insiders. Additionally, the store will feature an open floor plan to allow for easier navigation as well as iPads, which will be exclusively available for customers to shop or research products at citysports.com.

City Sports operates 21 stores across the East Coast.

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S.Gacho says:
Mar-26-2013 10:20 am

This kind of business
This kind of business footwear is very good in sports. The bad side of it is that it is really expensive for an ordinary person to afford. - Michael Courouleau

S.Gacho says:
Mar-26-2013 10:20 am

This kind of business footwear is very good in sports. The bad side of it is that it is really expensive for an ordinary person to afford. - Michael Courouleau

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Ross keeps rolling with discount philosophy

BY CSA STAFF

Off price retailer Ross Stores achieved record fourth quarter sales and earnings and expects to deliver more of the same in 2013 thanks to an unwavering commitment to offering great bargains.

Sales for the 14 week fourth quarter ended February 2, increased 15% to $2.76 billion when compared to the prior year’s 13 week fourth quarter. Same store sales advanced 5% on top of a prior year gain of 7%. Earnings per share for the period increased to $1.07 from 85 cents last year and net income grew to $236.6 million from $192 million.

Michael Balmuth, Vice Chairman and Chief Executive Officer, commented,

"We are pleased with the record sales and earnings we delivered in the fourth quarter and 2012 fiscal year, especially considering they were achieved on top of strong multi-year gains," said Michael Balmuth, vice chairman and CEO. "Results for both periods benefited from our ongoing ability to deliver compelling bargains on a wide assortment of exciting name brand fashions for the family and the home to today’s value-focused consumers."

For the full 53 week fiscal year, sales increased 13% to slightly more than $9.7 billion, comps increased 6%, earnings per share grew to $3.53 from $2.86 when compared to the 52 week prior fiscal year. Net income increased to $786.8 million compared to $657.2 million.

"We plan to stay intently focused on our core off-price mission of consistently delivering great bargains to our customers," Balmuth said. "This continues to be the key to maximizing our opportunities for growth in sales and profits over both the short and the long term."

While the company’s strategy won’t change, one shift that may not sit well with some investors is the suspension of monthly sales reports. Ross said it would discontinue the practice beginning with the second quarter.

"Reporting sales quarterly aligns us with the majority of other retailers who have already adopted this practice, while also increasing the focus on longer-term performance," Balmuth said.

Ross ended the year with 1,091 stores in 33 states and 108 dd’s Discount stores in eight states.

 

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Samsung unveils 2013 TV lineup

BY CSA STAFF

Samsung Electronics America announced that its 2013 TVs will begin shipping this month in the United States, beginning with the LED 8000-series and the Plasma 8500-series.

"The TV industry is undergoing a sea change in both content and technology. Although consumers can now access a plethora of content from myriad sources, finding and choosing their favorite content has become even harder. Our 2013 Smart TVs make it easy for you to spend less time searching for shows and movies, and more time discovering and watching the content you love," said Joe Stinziano, EVP Samsung Electronics America. "Samsung has also created an evolutionary TV, so the TV that consumers buy today will transform into the TV of tomorrow. Thanks to the world’s first Smart Evolution Kit, consumers will have the latest features and they won’t be left behind."

Highlights of select products include:

  • A redesigned Samsung Smart Hub that offers five dynamic menu panels to help consumers manage and navigate different types of content.

  • With S-Recommendation, consumers can easily find the content they want – whether on TV or via premium VOD services – thanks to personalized recommendations based on their viewing habits over time.

  • Outstanding picture quality across the 2013 lines. Samsung’s UHD TV and LED TVs offer brighter, more vibrant color, and its flagship Plasma TV delivers deeper blacks and brighter whites than previously seen on plasma models.

  • Smart Evolution Kit gives owners of flagship 2012 Samsung TVs the opportunity to update their models with some of the latest features from 2013 without having to buy a new set.

  • A quad-core CPU enables quick app launching, web browsing and multi-tasking.

  • Smart View lets consumers move content seamlessly from the TV to connected devices and back in real-time, so consumers never miss a moment of their favorite shows using AllShare.

  • Advanced Smart Interaction allows consumers to use everyday language and casual gestures to control the TV.

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