News

Read All About It: Building Costs

BY CSA STAFF

New York City, Research shows that high-performance buildings, sometimes called “green buildings,” cost about 1% to 2% more to build, but cost much less to maintain over time. In her article “What’s a Building Really Worth,” Betsy del Montey, of Dallas-based The Beck Group, elaborates on the economics of quality and energy efficiency in construction. For the complete article, click on the “Guest Commentaries” tab at the top of the page.

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News

Bed Bath & Beyond Names President

BY CSA STAFF

Union, N.J., Bed Bath & Beyond Inc. gave its chief merchandising officer Arthur Stark the additional title of president.

Additionally, the retailer promoted Eugene A. Castagna to CFO and treasurer from the post of VP of finance and principal financial and accounting officer. He succeeds Richard Curwin, who was named to the newly created position of senior VP of investor relations.

Bed Bath & Beyond also named Richard C. McMahon to the new post of chief strategy officer and VP of corporate operations. He most recently served the retailer as VP of supply chain and CIO.

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FINANCE

Holiday Brings No Joy For Trans World Entertainment

BY CSA STAFF

Albany, N.Y., Trans World Entertainment reported a comps decrease of 7% for the five-week period ended Dec. 31, and a comps decline of 8% for the nine-week period ended the same date.

“Sales for the quarter have been affected by a general weakness in our industry,” said chairman and CEO Robert J. Higgins. He added that in light of Trans World’s disappointing holiday performance, the retailer’s earnings for its 2005 fiscal year are expected to be down from the prior year. He estimated earnings for the year will be zero to 5? per share, as compared to an earlier forecast of 25? to 30? per share.

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