REAL ESTATE

Ikea to Open Store in Carolinas

BY CSA STAFF

Charlotte, N.C. Ikea announced Monday it will open its first Carolinas store – in Charlotte, N.C. – in six weeks.

The 356,000-sq.-ft. store will be one of the chain’s largest, featuring three model homes and 49 room vignettes, including 17 kitchens.

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99 Cents Only posts 3Q sales growth

BY CSA STAFF

COMMERCE, Calif. 99 Cents Only Stores reported that total sales for its fiscal 2009 third quarter increased 8% to $351.1 million from $325 million for the same quarter last year.

The company reported a same-store sales increase of 4.2%.

 

Eric Schiffer, CEO of 99 Cents Only Stores, stated, “We are pleased with our solid third quarter sales performance, which underscores the strength of our business model and ability to attract new customers and achieve strong sales results in a challenging consumer economic environment. The increase in traffic from new and existing shoppers helped lead to an increase in both average ticket and the number of transactions in the third quarter. We believe that a growing number of shoppers are attracted to our deep value proposition and turning to our stores for more of their everyday household needs including many perishable and other consumable items.”

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500 agree to Best Buy buyout

BY CSA STAFF

MINNEAPOLIS About 500 employees at Best Buy’s headquarter’s agreed to take voluntary buyouts, the company reported, representing a 12.5% reduction in work force.

Best Buy said that based on the number of employees who accepted the offer, it expects to recognize in its fiscal fourth quarter a charge of approximately $60 million for this voluntary program.

The program was announced in mid-December as part of Best Buy’s plans to reduce future non-customer facing expenses.

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