FINANCE

H&M to open 240 stores in 2010

BY CSA STAFF

Stockholm, Sweden H&M is gearing up to open 240 stores in 2010, according to a Bloomberg report.

“2010 will be a challenging year for the economy and somewhat better than 2009,” H&M CEO Karl-Johan Persson said.

H&M doesn’t plan to exit any markets and is pushing ahead with its investment plans in Spain; Portugal; Italy; and Greece.

The company continues to benefit from customers “trading down” during tough economic times.

H&M aims to open seven stores in Israel, Persson said, declining to elaborate on which new markets the retailer would open stores in next. No acquisitions are planned.

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Sam’s Club honors outstanding Hispanic business owners

BY CSA STAFF

BENTONVILLE, Ark. Sam’s Club has announced the winners of the “Como Si: Doing Business Today for Tomorrow!” contest.

The winners of the nationwide contest, presented by Sam’s Club and The United States Hispanic Chamber of Commerce, were selected from contestants who submitted short videos promoting their small business, detailing what has brought their enterprise through today’s tough economic environment and what their plan is to “keep up and keep going.” The winners were chosen for originality, creativity, relevance and clarity of their videos.

 

The winners are:

 

Delmy Franco, My Tidy Files – North Hollywood, Ca. Alba Gonzalez-Nylander, Alba Video Production – Franklin, Tenn. Michelle Manon, Tamahli – San Antonio, Texas Jesus Ojeda, Ojeda’s, Inc – Des Moines, Iowa Molly Dalton Robbins, Palomita and Chucho Clothing – San Rafael, Ca. Maria de Lourdes Sobrino, Lulu’s – Anaheim, Ca. Nelson Soler, Multicultural Entrepreneurial Institute, Inc – Milwaukee, Wisc. Roger Villeda, Villeda Marketing International – Denver, Colo. Lilian Jimenez, Jimenez Communications – Fontana, Ca. Jennifer Fuentes, Independent Beauty Consultant – San Antonio, Texas

 

The winners receive a trip to the home office of Sam’s Club in Bentonville, Ark. to learn about incorporating the latest technology into their businesses while creating a better bottom line.

“Small business owners are pressed to find more effective and affordable ways to promote their business and compete in a tough economic environment. They must do so while learning new skills, such as managing cash flow, logistics and human resources. We are pleased to be part of an initiative that can help deliver valuable information to those who are eager to learn and apply it,” said Carlos Doubleday, Sam’s Club VP.

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Collective Brands reports 4Q, FY results

BY CSA STAFF

TOPEKA, Kan. Collective Brands reported that its fourth-quarter net loss was $10.9 million, or 17 cents per diluted share, compared with a net loss of $144 million, or $2.28 per share, in the fourth quarter of 2008.

Full-year 2009 net earnings increased to $82.7 million, or $1.28 per diluted share, compared with a net loss of $68.7 million, or $1.09 per diluted share in 2008.

 

Collective Brands’ fourth quarter 2009 net sales were $741.7 million up 0.9%. The company’s fourth quarter 2009 comparable-store sales increased 0.7%.

Collective Brands’ 2009 net sales were $3.31 billion, down 3.9%. The company’s 2009 comparable-store sales decreased 2.3%.  related to litigation, asset impairments, severance, cancellation of performance share units, and the expiration of the Tommy Hilfiger adult footwear license.

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