FINANCE

Marty’s Shoes to Close All Stores

BY CSA STAFF

Secaucus, N.J. Marty’s Shoes plans to close all 47 of its stores and liquidate operations, according to New Jersey’s The Record.

The discount chain filed for Chapter 11 bankruptcy last month after 34 years in business.

 

The company began liquidating sales in August.

An affidavit by Marty’s president and CEO John Adams, filed with the bankruptcy documents, attributed the company’s failure to tough economic conditions, excess inventory and what turned out to be a poorly executed management change in 2006.

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KB slashes toy prices in time for holidays

BY CSA STAFF

PITTSFIELD, Mass. KB Toys reported that will reduce more than 200 popular toys to $10 or less as part of an initiative to help customers save money during the holiday gift buying season.

KB Toys recently expanded its Super Value Program to include video games priced as low as $9.98 and DVD family movies and entertainment starting at 2 for $9.98.

To help consumer dollars go even further, this week KB Toys also added twenty-five items to the Extreme Value! Lineup. The Extreme Value! selection offers even lower prices on select, guest favorite, Super Values from famous names like Fisher-Price, Mattel, Hasbro, Disney and more.

“Our guests have come to know they can always find exceptional bargains with our Super Value Program,” said Andy Bailen, ceo of KB Toys. “Clearly, more consumers are looking for affordably priced gifts and that is why we also just took over two hundred great toys and lowered their prices to $10 or less.”

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Rite Aid Sept. comps up 1.7%

BY CSA STAFF

CAMP HILL, Pa. Rite Aid announced that for the four weeks ended Sept. 27, same-store sales increased 1.7% over the prior-year period.

For the September period, same-stores sales excluding the acquired Brooks Eckerd stores increased 3.2% over the prior-year period.

 

Once again our core stores delivered solid gains, and our acquired stores posted a significant increase in the front end and good improvement in the pharmacy. The turnaround of the former Brooks Eckerd stores continues, said Mary Sammons, Rite Aid chairman and ceo.

Total drug store sales for the four-week period decreased 0.8% to $1.971 billion compared to $1.986 billion for the same period last year.

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