REAL ESTATE

Francesca’s to open at Village of Rochester Hills

BY CSA STAFF

Rochester Hills, Mich. Birmingham, Mich.-based commercial real estate development firm Robert B. Aikens & Associates said Tuesday it has added Francesca’s Collections to the tenant roster at the Village of Rochester Hills lifestyle center project in Rochester Hills, Mich.

The 1,300-sq.-ft. location is expected to open in first quarter 2010.

Francesca’s Collections will join retailers Parisian department store as well as Ann Taylor Loft, Talbot’s, Banana Republic, Chico’s, White House Black Market, Eddie Bauer, J. Crew and Jos. A. Bank.

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Borders introduces In-Stock Guarantee or free shipping

BY CSA STAFF

ANN ARBOR, Mich. Borders launches the industry’s first-ever “In-Stock Guarantee,” promising customers that if they do not find an item in stock in a Borders store and that item is among the more than one million titles available on Borders.com, Borders will find it and pay the shipping costs to the customer’s home.

Borders’ “In-Stock Guarantee” applies to any item carried on Borders.com. There is no per-customer limit on the number of items eligible for this program. The “In-Stock Guarantee” program runs through most of the holiday season, with Dec. 16 as the final date items can be located and reach customers in time for Christmas.

The “In-Stock Guarantee” applies only to Borders bricks and mortar stores, but there is also a free shipping program available online at Borders.com as well. Generally, orders over $25 purchased on Borders.com will be shipped for free. Orders placed on the site before Dec. 16 will reach customers in time for the holiday.

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Big 5 sees strong third quarter

BY CSA STAFF

EL SEGUNDO, Calif. Big 5 Sporting Goods reported that for the fiscal 2009 third quarter, net sales increased to $231.6 million from net sales of $223.2 million for the third quarter of fiscal 2008. As the company previously reported, same-store sales increased 1.6% for the third quarter.

Net income for the third quarter of fiscal 2009 improved to $8 million, or 37 cents per diluted share, from net income of $4.5 million, or 21 cents per diluted share, for the third quarter of fiscal 2008.

 

“We are pleased to deliver a solid third quarter top and bottom line performance, as our customer value proposition and proven business model continue to produce positive results,” said Steven Miller, the company’s chairman, president and CEO.

Miller continued, “We are encouraged that the positive sales trends we experienced during the third quarter have continued, and actually improved, thus far in the fourth quarter. For the first five weeks of the quarter, we have comped positively in the low single-digit range. While the critical holiday period is still ahead and consumer spending habits remain unpredictable, we are excited about our product assortment and promotional plans and believe that our ability to provide tremendous values on quality merchandise will position us well during the gift-giving season.”

For the fiscal 2009 fourth quarter, the company expects same-store sales in the positive low to low-mid single-digit range and earnings per diluted share in the range of 28 cents to 38 cents. For comparative purposes, the company’s earnings per diluted share for the fourth quarter of fiscal 2008 were 17 cents.

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