REAL ESTATE

Report: Walgreens to Enter Hawaii

BY CSA STAFF

New York City, Walgreens is rumored to be set to enter Hawaii, according to local reports. The chain is the winning bidder to fill a soon-to-be-vacant location of bankrupt music retailer Tower Records in Hawaii, according to The Honolulu Star-Bulletin. Tower Records said its last day would be in mid-December.

MTS, the former parent company of Tower Records, filed for bankruptcy on Aug. 20 and in October sold the struggling chain to Great American Group, which is now liquidating the chain and plans to shutter all its stores this month.

Walgreens’ bid for the Tower store is still pending approval in bankruptcy court, according to the newspaper. A spokeswoman also said the company was looking at additional sites in Hawaii.

Walgreens’ entry into the market could challenge Longs Drugs’ long-time dominance of the islands. The pharmacy chain has been in the market

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FINANCE

Ann Taylor Comp-Store Sales Down 4.3%

BY CSA STAFF

New York City, Ann Taylor Stores Corp. on Thursday said comp-store sales declined 4.3% in November. For the four weeks ended Nov. 25, the company’s flagship Ann Taylor stores posted a 3.4% decline in comp-store sales, while its Ann Taylor Loft stores posted a 7.7% decline.

In the year-ago period, the stores posted comp-store sales gains of 18.6% and 10.2%, respectively. Total monthly sales increased 2.1% to $186.4 million from $182.5 million a year ago. By segment, Ann Taylor stores contributed $73.3 million in sales, while Ann Taylor Loft stores generated $86.2 million.

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FINANCE

Aeropostale Comp-Store Sales Rise

BY CSA STAFF

New York City, Aeropostale on Wednesday said its November comp-store sales rose a meager 1% compared with a 7.3% gain in the same period last year. Total sales for the four-week period ended Nov. 25 advanced 11.5% to $149.7 million, compared to $134.3 million during the same period last year.

For the year-to-date, comp-store sales rose 1.7% compared with a 0.9% gain last year. Total sales increased 16.9% to $1.06 billion from $903.4 million during the same period a year ago.

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