FINANCE

Syms loss widens in Q2 with impact of Filene’s acquisition

BY CSA STAFF

Secaucus, N.J. Syms Corp. reported late Thursday that it lost $10.9 million in the quarter ended Aug. 28, compared with a loss of $7.9 million in the year-ago period. The widened loss is mostly attributable to one-time charges related to Syms’ acquisition of Filene’s Basement in second quarter 2009, according to the company.

Revenues for the quarter surged 34% to $102.1 million, from $76.4 million in the prior-year quarter, reflecting the impact of Filene’s Basement.

Same-store sales increased 16% for the quarter.

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REAL ESTATE

Crazy 8 to open at Exton Square Mall

BY CSA STAFF

Exton Square, Pa. Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Wednesday that Crazy 8 will open a new store at Exton Square Mall, in Exton Square, Pa.

The 2,369-sq.-ft. store is slated to open in November.

Crazy 8, a concept of The Gymboree Corp., has another location at PREIT’s Springfield Mall in Delaware County, Pa.

The 1 million-sq.-ft. Exton Square is anchored by Boscov’s, J.C. Penney, Macy’s and Sears. 

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News

Target slashes toy prices in time for the holidays

BY CSA STAFF

MINNEAPOLIS Target announced that it will offer discounts on more than 1,000 toys this holiday season, 250 of which are exclusive to Target.

"From Nerf Stampede and Sing-a-ma-jigs to exclusive Toy Story 3 gift packs, Target features the hottest toys and must-have brands that make great gifts for kids of all ages," said Casey Carl, VP merchandise manager, toys and sporting goods. "And, we also offer the classic toys and games like Barbie, Lego and Monopoly that are found on holiday lists year after year –– all at great prices."

Beginning Oct. 17, Target said it will offer a 5% discount on nearly all purchases made at Target and Target.com when guests use their Target credit cards, which will provide guests additional savings throughout the holiday season.

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