REAL ESTATE

PGA Tour Superstore to open 14th store

BY Staff Writer

Roswell, Ga. — PGA Tour Superstore is opening a second Chicagoland location on June 14, in Downers Grove, Ill. The company opened a store in Schaumburg, Ill., last month.

Downers Grove is PGA Tour Superstore’s 14th retail location. The stores are owned and operated by Golf & Tennis Pro Shop, whose controlling owner and chairman is Arthur M. Blank, retired Home Depot co-founder and current owner of the Atlanta Falcons.

"We strive to establish long-term relationships with our customers by always providing them the ultimate shopping experience: knowledgeable sales professionals in a setting that’s filled with their favorite brands," Blank said.

PGA Tour Superstore provides an array of services, including personalized golf lessons; seminars conducted by golf professionals using state-of-the-art teaching technologies; golf club and ball fittings; club repair and re-gripping; and tennis racket restringing.

The store experience also includes performance practice bays, lesson swing simulators and a 1,600-sq.-ft. putting green.

In addition, PGA Tour Superstore offers an extensive selection of golf and tennis equipment along with a broad assortment of related apparel, shoes and junior products.

In addition to the two Chicago area stores, PGA Tour Superstore has locations across the country, including three stores in metro Atlanta; two each in Dallas, Myrtle Beach, S.C., and Phoenix; one in Naples, Fla.; one in Delray Beach, Fla.; and one in Denver.

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FINANCE

Caseys Q4 profit up but misses Street

BY Staff Writer

Ankey, Ohio — Casey’s General Stores Inc. reported that its fiscal fourth-quarter profit fell short of expectations due to weak margins on gasoline sales.

The convenience store operator said that it earned $23.1 million for the quarter that ended April 30, up from $22.8 million last year. Revenue increased 13% to $1.75 billion.

Casey’s said that its gas margins were down nearly two cents per gallon compared with last year. However, the company said it was able offset that with strong sales and margin gains inside its stores.

Casey’s, which operates 1,699 stores, said grocery and other merchandise same-store sales increased 8.5% during the quarter. Prepared food and beverage same-store sales jumped 16.8%.

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FINANCE

U.S. retail sales dropped 2% in May

BY Marianne Wilson

New York — U.S. retail sales declined in April and May, pulled down by a sharp 2.2% drop in gas stations sales in both months, the Commerce Department said Wednesday.

But excluding volatile gas station sales, retail sales increased only modestly in May and dipped in April.

Total retail sales fell in April to $404.6 billion, slightly below March’s record level of $406.2 billion and 21.6% higher than the recession low hit in March 2009.

Excluding gas station sales, retail spending rose just 0.1% in May. And retail sales dropped 0.1% in April after a revision by the government.

Americans did spend more in May on big purchases. Sales of cars, furniture and appliances all increased.

Other findings from the May retail sales figures include:

  • Clothing and clothing accessories stores’ sales increased 0.9%, seasonally adjusted month-to-month and increased 7.3% unadjusted year-over-year;
  • Electronics and appliance stores’ sales increased 0.8% seasonally-adjusted month-to-month and 1.2% unadjusted year over-year;
  • Furniture and home furnishing stores’ sales increased 0.4%m seasonally-adjusted month-to-month and 11.4% unadjusted year-over-year;
  • Health and personal care stores’ sales decreased 0.1% seasonally-adjusted month-to-month but increased 3.1% unadjusted year-over-year; and
  • Sporting goods, hobby, book and music stores’ sales decreased 0.1% seasonally-adjusted month-to-month but increased 9.1% unadjusted year-over-year.
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