REAL ESTATE

IHOP inks space at WSFS Fairfax Center

BY CSA STAFF

Wilmington, Del. Patterson-Woods & Associates, LLC/CORFAC International said Thursday they recently completed a 5,000-sq.-ft. lease with the International House of Pancakes at the WSFS Fairfax Center in Wilmington, Del.

The WSFS Fairfax Center includes a bank, dentist as well as additional retail and office space.

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Borders gets romantic

BY CSA STAFF

ANN ARBOR, Mich. Borders launched its new video blog, “Borders True Romance,” a community where readers can chat about their favorite romance books, engage with bestselling authors and genre experts and participate in promotional giveaways. Debuting at http://bordersblog.com/trueromance/, the blog is hosted by Sue Grimshaw, Borders’ romance buyer along with romance mavens, Sarah of TrashyBooks.com and Jane of Dearauthor.com.

Visitors to the blog will find features such as guest posts by bestselling romance authors. Each week, various authors engage with readers, delving into characters and the “backstories” behind their books, giving fans unique access into their worlds. Some authors participating in the video blog are Karen Marie Moning Leslie Parrish, Brenda Novak, Linda Howard and Julia Quinn. Other highlights include a guest chat with Jade Lee speaking with Grimshaw in a Borders store about her new book, “Getting Physical.”

Readers will also enjoy giveaways by authors and publishers. On Aug. 29, visitors to the site can learn more about bestselling author Roxanne St. Claire and the continuation of her Bullet Catcher series and enter to win a copy of her latest release, “Hunt Her Down.”

The “Borders True Romance” video blog is an extension of the highly popular “Borders True Romance” exclusive and original BordersMedia video program, also hosted by Grimshaw and viewable at http://www.bordersmedia.com/trueromance.

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Jo-Ann cuts 2Q loss

BY CSA STAFF

HUDSON, Ohio Jo-Ann Stores reported a net loss for the quarter was $3.2 million, or 13 cents per diluted share, versus a net loss of $11.7 million, or 47 cents per diluted share for the second quarter last year.

Net sales for the second quarter increased 4.1% to $419.4 million from $403 million for the same period last year. Same-store sales increased 1.8% compared with a 3.3% same-store sales increase for the second quarter last year.

Darrell Webb, chairman, president and CEO stated, “Jo-Ann Stores achieved strong financial improvement in the second quarter of fiscal 2010 through continued sales growth, margin expansion, and expense leverage. Our strategy to revitalize the store portfolio, enhance our merchandise offering, and constantly improve store conditions is making a meaningful difference in the shopping experience we provide and is continuing to attract customers.”

For fiscal 2010, the company is expecting same-store sales to be approximately flat to up 1% for the year and earnings per diluted share in the range of $1.35 to $1.50 for the year. 

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