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Sears To Revise Kmart Staffing Levels

BY CSA STAFF

Hoffman Estates, Ill., Sears Holdings Corp. indicated it will adjust staffing levels at its approximately 1,400 Kmart locations, according to a report in the Chicago Sun Times.

A company e-mail sent to Kmart store managers said the revisions would affect a small number of employees in most Kmart stores, and that jobs will be added in some cases. Kmart has roughly 133,000 employees in all.

The workforce revisions have nothing to do with recent store performance, reports say.

Separately, Sears said that November and December same-store sales were down 11.9% at its namesake locations at up 1% at Kmart stores.

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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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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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