STORE SPACES

Meijer unveils Marketplace store concept in Chicago

BY Katherine Boccaccio

Grand Rapids, Mich. — Grocery retailer Meijer announced it will open a fourteenth Chicago-area store, this one under its Meijer Marketplace banner designed to bring a smaller-size localized concept to the Melrose Park neighborhood.

Meijer Marketplace spans 96,000 sq. ft. – about half the size of the grocer’s supercenters – and features a tailored offering as well as a variety of general merchandise items.

“Meijer Marketplace is a dramatic step for us as we work toward bringing everything that’s great about Meijer to a more diverse group of customers,” said Hank Meijer, co-chairman and CEO of the Grand Rapids, Mich.-based retailer. “The Chicago market continues to be a very important growth area for us, and our new Meijer Marketplace concept will bring yet another unique offering to our Chicago-area customers.”

Much of the focus on the new store in Melrose Park will be on providing a total grocery shopping experience with fresh meats and produce, as well as a variety of deli, bakery and pantry items. The new Meijer store will include a targeted focus on Hispanic and Italian foods, providing a new shopping option for the ethnically diverse community nearby.

In the general merchandise area, the Meijer Marketplace will feature key categories such as electronics, seasonal items, toys, sporting goods and a pet department.

Meijer currently has 13 stores in the Chicago area ranging in size from full supercenters to smaller, grocery-focused stores in Niles and Orland Park.

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FINANCE

Cache profit, sales rise in Q2

BY Staff Writer

New York City — Women’s apparel retailer Cache reported Thursday that net income for the quarter ended July 2 rose to $2.8 million, compared with $897,000 in the year-ago period.

Net sales increased 6.5% to $60.3 million and same-store sales increased 6%.

For fiscal 2011, the retailer said it has no new store openings planned, but will close two stores.

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FINANCE

Liz Claiborne Q2 loss widens, sales beat estimates

BY Staff Writer

New York City — Liz Claiborne, parent company of Kate Spade and Juicy Couture labels, reported Thursday that its second-quarter loss widened to $89.9 million, from $86.8 million in the year-ago period.

Sales rose to $555.8 million from $536.8 million, beating Wall Street’s anticipated $522.1 million.

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