Daffy’s opens in Times Square
New York City — Off-price retailer Daffy’s on Wednesday is opening a nineteenth location, in New York City’s Times Square.
The new 17,000-sq.-ft. store, located at 218 West 44th Street in the former New York Times building.
"We are thrilled to be bringing the Daffy’s shopping experience to Times Square," said Caryn Lerner, CEO of Daffy’s. "This year marks Daffy’s 50th year in business and we are honored to continue to serve all New Yorkers and the nearly 50 million annual tourists with unique fashion at irresistible prices. The Times Square location solidifies our commitment to New York City and we look forward to being in this exciting neighborhood."
The new Daffy’s store opening is part of a larger strategic business plan intended to support the continued growth and expansion of the brand.
Abercrombie Q3 profit misses Street
New Albany, Ohio — Abercrombie & Fitch earnings rose 1.7% in the third quarter, well short of analysts’ estimates, as rising costs pressures offset a big jump in sales.
For the quarter ended Oct. 30, the chain reported $50.9 million in earnings, up from $50 million in the same period last year. Total sales rose 21% to $1.08 billion, more or less in line with Wall Street estimates.
Total international sales including e-commerce rose 56% to $255.7 million. In the United States, sales rose 14% to $820.2 million.
OfficeMax in mobile products and assisted sales pilot with RadioShack
Naperville, Ill. — OfficeMax Inc. announced a strategic pilot with RadioShack Corp. whereby OfficeMax will pilot the RadioShack Mobile offering in the San Francisco market beginning in January 2012.
As part of this pilot program, RadioShack employees will offer mobile products and services, including prepaid and postpaid wireless products, accessories and service plans, as well as assist in selling OfficeMax consumer electronics products and services, in approximately 15-20 OfficeMax stores.
"We are evaluating a range of strategic retail partnership arrangements that will improve store productivity and make our stores a highly attractive destination to our customers," said Ravi Saligram , president and CEO, OfficeMax. "We are excited to bring in RadioShack’s expertise in providing wireless solutions and consultative sales expertise which will complement our enhanced technology offering in our upcoming pilot."