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HSBC to Launch Retail Branches in Japan

BY CSA STAFF

New York City, British-based HSBC said Thursday it will make its entry into Japan’s retail banking sector early next year with a nationwide network of branches targeting wealthy individuals.

The banking giant will open branches in Tokyo, Osaka and other cities. It is looking to expand its presence throughout Asia. On Monday, HSBC announced a deal to buy half of South Korea’s sixth-biggest bank, Korea Exchange Bank.

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Treff joins Payless as chief administrator

BY CSA STAFF

TOPEKA, Kan. Collective Brands announced today that it has hired Douglas Treff as evp and chief administrative officer for the company and its Payless ShoeSource unit. Treff will report to Matt Rubel, ceo and president of Collective Brands, and ceo and president of Payless.

Treff will be responsible for the finance, store development and information technology functions for Payless. The global sourcing and supply chain, merchandising, marketing, retail operations, law and human resources teams for Payless and Collective Brands will continue to report to Rubel. Treff will start in his new role early this month.

Most recently Treff served as evp and chief administrative officer for Sears Canada. From 2000 to 2006, he served as senior vp and cfo for Deluxe Corp. He served as cfo and in other leadership roles in finance from 1990 to 2000 for Wilsons The Leather Experts. 

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BJ’s August sales up 6.4%

BY CSA STAFF

NATICK, Mass. BJ’s Wholesale Club today reported that sales for August 2007 increased by 6.4% to $661.7 million from $622.2 million in August 2006. On a comparable-club basis, August sales increased by 1.4%, including a negative impact of 2.4% from sales of gasoline and a negative impact of 0.4% from the absence of pharmacy sales versus last year. In 2006, the company reported a comparable-club sales increase of 2.3% for August, including a contribution from sales of gasoline of 1.2%.

For the 30-week period ended Sept. 1 total sales increased by 7.3% and comparable-club sales increased by 2.8%, including a contribution from sales of gasoline of 0.6% and a negative impact from the absence of pharmacy sales versus last year of 0.4%.

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