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How Small Retailers Compete With Big-Box Chain Stores

BY CSA STAFF

Phoenix, DollarDays International conducted a survey that found that unique items, personalized customer service and competitive pricing are what small retailers believe to be their best competition strategies against big-box chain stores such as Wal-Mart, Target, Kmart and Kohl’s.

In the survey, 99% of the small retailers were located near big-box stores. Of those, 72% opened after the chains did, while 26% were operating there before the chains appeared. Fifty-two percent of the small stores already opened said they used new strategies to compete with the incoming chains, including cutting prices, increasing inventory and increasing marketing and advertising. The survey found that 42% of the small retailers kept their market share and 35% said their business increased. Fewer than 1% reported a decrease in business.

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Iconix to Buy Joe Boxer

BY CSA STAFF

New York City, Iconix Brand Group has entered into a letter of intent to purchase the high-profile Joe Boxer intimates brand. Iconix, which went by the name Candie’s until last month, said it was negotiating a definitive purchase agreement subject in part to the company’s ability to obtain financing, among other contingencies.

The Joe Boxer brand has had an exclusive distribution deal with Kmart since 2001. Sears Holdings Corp. carried over the agreement when Sears, Roebuck and Co. and Kmart Holding Corp. merged this year.

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Attorneys Prepare Wal-Mart Defamation Lawsuit

BY CSA STAFF

Little Rock, Ark., Lawyers for fired Wal-Mart VP Jared Bowen sued the retailer late yesterday for defamation, claiming that Wal-Mart has characterized Bowen as “a liar, a thief and a fraud.” Bowen is accusing Wal-Mart of sullying his reputation with public criticism and reiterated claims that he was terminated after he drew attention to misspending by an upper-level executive.

Wal-Mart fired Bowen around the same time that former vice chairman Tom Coughlin was accused by the company of misspending up to $500,000. Wal-Mart has said Bowen was a part of the scheme.

Bowen’s lawsuit was filed in the Benton County Circuit Court.

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