FINANCE

Survey: Weekly sales rise from year ago

BY CSA STAFF

New York City A report released Tuesday by the International Council of Shopping Centers and Goldman Sachs found that chain-store sales for the week ended Nov. 21 rose 3.3% from the year-earlier period.

On a week-over-week basis, sales were unchanged.

“So much of the monthly performance rides on bargain Friday shopping — the day after Thanksgiving,” said Michael Niemira, ICSC’s chief economist, adding he expects sales to be strong on both Friday and Saturday. ICSC also said 15% of households completed half or more of their holiday gift buying — the highest percentage reporting that since 2004’s holiday season — for the week ahead of Thanksgiving.

Niemira said he sees November sales rising 4% to 6% as easy year-over-year comparisons will dominate the results. That was lower than his previous forecast of sales increasing in the range of 5% to 8%.

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Borders names new SVP marketing

BY CSA STAFF

ANN ARBOR, Mich. Borders Group has appointed Bill Dandy SVP marketing.

According to the company, Dandy has more than 20 years of retail experience, serving in marketing and operations leadership roles for several multi-billion-dollar retail organizations. Most recently, he served for three years as EVP, marketing, for Mattress Firm. Prior to that, Dandy served as chief marketing officer for $2.3 billion retailer Dick’s Sporting Goods.

As Dandy assumes the SVP marketing role, Art Keeney–who has served in that post at Borders since June–will transition to the position of SVP store operations, where he will lead the national store operations team with a focus on customer service. Keeney is a 30-year retail veteran who has led operations as well as marketing for national retailers throughout his career.

 

To provide high-level strategic leadership within Borders’ core book category, the company also announced today that Larry Norton will move from his current role as SVP, merchandising and distribution, to the position of SVP, merchandising for adult trade and children’s books. Norton, who joined the company in August, is a 27-year publishing industry veteran who will now lead the book buying teams at Borders.

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Best Buy, B&N get in on new e-reader launch

BY CSA STAFF

Best Buy will sell a new e-reader that links to the Barnes & Noble e-bookstore, beginning this October.

The DR800SG e-reader, manufactured by Irex Technologies, measure 8.1 inches, has a touch screen and offers multi-mode 3G wireless capabilities.

 

Through a partnership with Barnes & Noble, Irex can offer users of the e-reader access to more than 750,000 titles, including new releases and bestsellers at $9.99. In addition, Irex has partnered with Verizon Wireless to provide DR800SG users with wireless connectivity and fast downloads.

The e-reader, which will be available at select Best Buy stores, has an MSRP of $399.99. Wireless access to download content is included in the cost of the DR800SG and no contract is required.

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