REAL ESTATE

Guess to open new store in downtown Seattle

BY Staff Writer

Seattle – Guess said Tuesday that it will open a new store in November at Pacific Place shopping center, in downtown Seattle.

The shop will open on level 2 between Club Monaco and bebe and is one of three new store openings within a few months of each other at Pacific Place, which includes Kate Spade New York and Clarks, as well as a major remodel for Victoria’s Secret and the opening of its Pink boutique.

Pacific Place features 50 shops, restaurants and an 11-screen movie theater at Sixth Avenue and Pine Street in downtown Seattle.

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REAL ESTATE

Sunflower Farmers Market to open second San Jose location

BY Staff Writer

Boulder, Colo. — Organic grocer Sunflower Farmers Market said Monday that it will open a second location in San Jose in 2012, the company’s fourth in the Bay Area.

Sunflower said it will anchor West Valley Shopping Center, and is slated to open the 32,000-sq.-ft. store in second quarter 2012.

A total of four new stores are planned for the Bay Area in 2012, including the two San Jose metro locations, one store in Mountain View and one in Fremont. The first San Jose location is set to open in June 2012 at Branham Square Shopping Center. A new location will open in Modesto in mid-November, followed by a store in Sacramento scheduled to open in March 2012.

Sunflower Farmers Market, which currently has 34 stores in seven states, expanded into California for the first time earlier this year

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News

Q2 story not so good at Books-A-Million

BY CSA STAFF

BIRMINGHAM, Ala. — Reading into the Books-A-Million results, its easy to see how the liquidation at Borders took a toll on the book retailer’s second quarter. Books-A-Million reported that net sales for its second quarter decreased 11.4% to $106.4 million from net sales of $120 million in the year-earlier period. Comparable-store sales for the second quarter declined 12.9% compared with the 13-week period in the prior year. Net loss for the second quarter was $2.9 million, or 18 cents per diluted share, compared with net income of $1.9 million, or 12 cents per diluted share, in the year-earlier period.

Commenting on the results, Clyde Anderson, chairman, president and CEO, said, “Results for the quarter reflect a continuation of the trends that have been affecting our business since the beginning of the year. A soft publishing lineup, the effect of e-book migration and the impact of Borders’ liquidation all contributed to the decline in comparable-store sales. In this environment we have been focused on further developing the growth categories in our stores in preparation for the second half of the year while our balance sheet remains strong.”

For the 26-week period ended July 30, net sales decreased 11.2% to $210.4 million from net sales of $237 million in the year-earlier period. Comparable-store sales declined 13.1% compared with the same period in the prior year. For the 26-week period ended July 30, the company reported net loss of $6.4 million, or $0.41 per diluted share, compared with net income of $3.9 million, or 25 cents per diluted share, in the year-earlier period.

Late last month, Borders rejectedBooks-A-Million’s offer to buy 30 Borders store.

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