FINANCE

Harris Teeter Scales Back Expansion Plans

BY CSA STAFF

Charlotte, N.C. Harris Teeter said it plans to scale back on store openings and remodeling for the remainder of fiscal 2009, which ends Sept. 28.

The company said it plans to open 16 stores and remodel another in fiscal 2009, down from the company’s plans filed in the fall with the Securities and Exchange Commission to open 17 stores and complete four remodels.

In August, Harris Teeter planned to open 19 stores and remodel eight.

Parent company Ruddick Corp. has cited the down economy for the reason for the move.

During the first quarter of fiscal 2009, Harris Teeter didn’t open any new stores or close any existing stores. However, it remodeled two stores.

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Report: Best Buy considers buying up bankrupt locations

BY CSA STAFF

DAVOS, Switzerland Best Buy is considering buying some store locations vacated due to bankruptcy, according to reports.

Speaking at the World Economic Forum in Davos, Switzerland, Best Buy CEO Brad Anderson told Reuters that it is looking into some of those stores, but is focused more on its balance sheet.

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Hip hop personality to star in Best Buy teen outreach campaign

BY CSA STAFF

MINNEAPOLIS Hip hop personality Ludacris (Christopher Bridges) will star in a new Best Buy Teen Service Announcement (TSA). Part of Best Buy’s @15 program, the TSAs are geared toward young people and feature unscripted videos of teens sharing their thoughts and experiences.

Over the next several months, the @15 Web site, along with its social networking pages and YouTube channel, will feature messages from teens engaged in Best Buy programs, celebrities and musicians, and Members of Congress.

“We all make mistakes, but you have to learn from your mistakes. Try not to make the same mistakes twice in life. We all have teenage years where we kind of were rebellious and just doing things that we’re finding out about life,” said Ludacris in his online TSA. “We’ve all been through some bad situations and you learn from them and you become a better person because of it. Adversity can make you a stronger person.”

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