REAL ESTATE

Frye Co. to open Manhattan flagship

BY CSA STAFF

New York City The Frye Co., billed as the nation’s oldest continuously operating shoe company and benchcrafted leather goods retailer, will open its first U.S. flagship, in Manhattan’s SoHo area, in summer 2011.

New York City-based AvroKO will partner with Frye on the design and architecture. Richter+Ratner will oversee construction.

The 6,000-sq.-ft. store will offer a range of Frye’s products, including boots and shoes for women, men and children, along with handbags, accessories and other leather goods.

“This store will provide us an environment to properly show the breadth of our approach to creating handcrafted leather products in the Frye design ethics,” said Larry Tarica, president and COO of Jimlar, parent company of Frye.

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Whole Foods 3Q sales up 15%

BY CSA STAFF

AUSTIN, Texas Whole Foods Market reported that sales for the third quarter ended July 4 increased 15% to $2.2 billion. Comparable-store sales increased 8.8%, or 6.3% on a two-year stacked basis. Identical-store sales, excluding three relocations, increased 8.4%, or 4.6% on a two-year stacked basis.

Income available to common shareholders increased 88% to $65.7 million from $35 million last year,and diluted earnings per share increased 53% to 38 cents.

“We are pleased with our results which compare very favorably to most other food retailers and show we are continuingto gain market share. Our identical-store sales increased 8.4%, accelerating from the second quarter and our highestincrease since 2006. Despite tougher comparisons and the recent dip in reported consumer confidence, our two-yearstacked identical-store sales also sequentially increased to 4.6%,” said John Mackey, co-chief executive officer and co-founderof Whole Foods Market.

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DSW reports quarterly sales growth

BY CSA STAFF

COLUMBUS, Ohio DSW announced net sales for the second quarter ended July 31 increased 12.3% to $415.1 million compared with $369.5 million for the quarter ended Aug. 1, 2009. Same-store sales increased 12% for the comparable period versus a decrease of 2.9% last year.

The company said it now estimates an annual comparable-store sales increase of approximately 7% to 9% and annual diluted earnings per share of approximately $1.80 to $1.95 for fiscal 2010.  This is updated from the company’s previous estimate of an annual comparable store sales increase of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010.  Fiscal 2009 annual diluted earnings per share were $1.23.

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