Crate and Barrel to Enter Canada
Toronto, Crate and Barrel will open its first store in Canada, in Toronto’s Yorkdale Shopping Centre, in the fall of 2008, according to a report by The Toronto Star. “It’s the only one we have in Canada so far,” said Crate and Barrel spokeswoman Bette Kahn. “We hope to have more in Toronto and our expansion plans call for more stores in Canada. We feel Canada is a very sophisticated and interesting market and a natural choice for our first international expansion.”
Construction on the two-level, 35,000-sq.-ft. store is scheduled to begin in June.
Walgreens Gets OK to Buy Familymeds
Deerfield, Ill., The Walgreen Co. got the green light from federal antitrust regulators Monday to purchase 53 pharmacies from Familymeds Group Inc. The transaction is valued at $60 million.
According to a Federal Trade Commission notice, the government has completed its investigation of the sale and ended the required waiting period.
The acquisition was announced last February.
Familymeds operates the 53 stores under the brands Familymeds Pharmacy, Ethical Pharmacy, Worksite Pharmacy and Arrow Pharmacy & Nutrition Center. Walgreens has said it will close an unspecified number of the locations and transfer their prescription files to nearby Walgreens pharmacies. However, the company did say it would continue to operate a majority of the stores.
Analyst Report Propels Dress Barn Upward
Suffern, N.Y., Dress Barn experienced rising shares on Monday after a CIBC World Markets analyst identified and reported on growth opportunities in the company.
Shares rose more than 3% during the day on Monday, and ended trading at $21.44, up 63 cents on the NASDAQ.
Analyst Roxanne Meyer said she could see earnings growth ahead from new and relocated stores, as well as potential improvements in the company’s Maurice’s stores by removing men’s apparel.