ShopKo to Sell Three Stores
Green Bay, Wis., Discount retailer ShopKo Stores said it is selling its three stores in Colorado to Regency Realty Group. The retailer described the move as a result of “economic reasons.” The stores are expected to close in about three months. ShopKo originally opened the Longmont and Loveland stores in 1993 and the Fort Collins store in 1994.
The company said the sale of the trio of stores is not directly related to its plan announced in April to be acquired by private investment firm Goldner Hawn Johnson & Morrison for $715 million in cash.
Hundreds of Walgreens Pharmacists Return to Work
Deerfield, Ill., Hundreds of striking Walgreens pharmacists have returned to work in Chicago-area stores. The actual number of pharmacists that have returned to work varies between reports from Walgreens and the National Pharmacists Association union. According to Walgreens, 409 pharmacists or about 36% have returned to work. The union, however, reports 300 pharmacists or about 25% have returned.
The strike, organized by the union, has entered its second week and was called to address staffing shortages and working conditions. Walgreens reported the return of pharmacists has allowed 64 pharmacies to return to their normal hours, including 25 pharmacies that are open 24 hours.
Kohl’s Effects Turnaround With New Brands
Menomonee Falls, Wis., Ayear-long climb on Wall Street, which culminated in a 14.4 % jump in June sales, is due, say analysts, to a host of new clothing lines that have helped drive store traffic and boost sales at Kohl’s.
After 2003-2004 struggles with stagnant fashion sales and excess inventories, Kohl’s made a big investment in brands and rolled out an exclusive string of new apparel names that were more fashion-forward and more popular with shoppers.
Next up for Kohl’s is an expansion of the jewelry and home offerings, as well as a deal to sell clothing under the skateboarder Tony Hawk’s Quicksilver brand and Candie’s brand.