REAL ESTATE

Sears Canada Moving Headquarters

BY CSA STAFF

Toronto, Sears Canada Inc. is moving its head office to Toronto’s Eaton Centre, just a few blocks away from its current Jarvis Street location.

The new headquarters will fill the top four floors of the eight floors that Sears occupies at the building. The four floors recently became empty.

Sears has all ready sold its Jarvis Street building to the government of Ontario and is operating there under a lease.

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Movie Gallery to close underperforming stores

BY CSA STAFF

DOTHAN, Ala. Movie Gallery Inc. today announced that it plans to close approximately 520 underperforming and unprofitable Movie Gallery and Hollywood Video stores. According to the company, the closings are part of its plan to conserve cash and reduce the company’s cost structure to address the financial and industry challenges it has been experiencing.

Joe Malugen, chairman, president and ceo of Movie Gallery, said, “Closing these stores was a difficult, but necessary decision to help protect the future of this company. These stores are being closed after evaluating a number of factors, including store profits and the terms of the leases at each location. This action will allow us to focus our resources on the approximate 4,000 stores that have a stronger operating performance and prospects for future growth.”

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Martha Stewart to design line for 1-800-FlOWERS

BY CSA STAFF

CARLE PLACE, N.Y. Martha Stewart is creating an exclusive, co-branded line for 1-800-FLOWERS. The new floral, plant and gift basket program will launch this spring and will be available exclusively at 1-800-FLOWERS.com.

 Martha Stewart stated: “I have been cultivating flowers and creating beautiful arrangements all my life. Fresh flowers and gift baskets enhance the beauty of any home and make every occasion special. I am delighted that we will collaborate with 1-800-FLOWERS.com next year to provide consumers with memorable floral gifts, plants and gift baskets that will be greatly appreciated by every recipient.”

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