REAL ESTATE

Payless ShoeSource opens 100th franchise store

BY Staff Writer

Topeka, Kan. — Collective Brands, parent to Payless ShoeSource, announced Thursday the opening of its 100th franchise store, which is located in Cirebon, Indonesia.

The store represents the seventh store in Indonesia to date and the overall rapid international expansion of the Payless store chain over the past two years through its franchise strategy.

"The franchise model has proven to be an effective way to quickly reach more international markets with the Payless brand,” said LuAnn Via, CEO and president of Payless ShoeSource.

Payless launched its franchise operation in 2009 with a Kuwait store. By the end of 2009, eight stores were operating in three countries in the Middle East — in Kuwait, Saudi Arabia, and the United Arab Emirates.

Payless said it anticipates the continued rapid expansion of its franchise store program, which represents an opportunity for approximately 700 stores in existing and new countries by 2014.

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FINANCE

Cabela’s reports rise in sales and profits for Q2, to ramp up store openings

BY Katherine Boccaccio

Sidney, Neb. — Cabela’s reported Thursday that net income for second quarter rose to $22.3 million, from $19.4 million in the year-ago quarter.

Total revenue increased 7.7% to $562.1 million, and same-store sales increased 4.4%.

"We are very pleased with the improvements in virtually all elements of our areas of strategic focus," said Tommy Millner, CEO. "We expect to realize further increases in return on capital as we continue to increase profitability and tightly manage our balance sheet for the rest of the year and beyond."

Millner said the performance, particularly from the recently opened next generation stores, will allow the outdoor retailer to accelerate new store openings, and said the chain expects to open five new stores in 2012 — four in the United States and one in Canada, the largest number of store openings in four years for the retailer.

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FINANCE

Whole Foods Q3 profit jumps 35%, on track to open near dozen stores

BY Katherine Boccaccio

Austin — Whole Foods Market reported Wednesday a profit jump of 35% to $88.5 million, compared with $65.7 million in the year-earlier period.

Revenue rose 11% to $2.4 billion, meeting Wall Street expectations, and same-store sales rose 8.4%.

With its strong showing, particularly as its traditional grocer peers struggle with shrinking margins and curbed spending, Whole Foods raised its full-year forecast and said it would add stores in 2011. On the heels of seven store openings in the third quarter, including three relocations, and two openings so far in the fourth quarter, the grocer said it expects to add three additional new stores in the fourth quarter and is on track to open another eight in 2012.

"We are continuing to gain market share at a faster rate than most public food retailers as reflected in our 8.5% comparable store sales growth year to date,” said Walter Robb, co-CEO of the company. "We see a new era of possibility for Whole Foods Market as customers increasingly embrace healthier lifestyles, and we look forward to accelerating our growth in the coming years."

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