Target to Open Hot Location in Atlanta
Minneapolis, The much-talked-about mixed-use development in Atlanta–Atlantic Station–has another taker. Target Corp. will open a 150,000-sq.-ft., multi-level location in March 2007.
The Atlantic Station Target will have a ground-floor parking lot with an escalator and a vermaport (cart escalator), much like the IKEA store which opened last June in Atlantic Station (as covered by Chain Store Age, July 2005 issue, “Urban Cowboys” cover story).
Thursday Morning Earnings Roundup
• Tractor Supply Co. posted a 140.8% improvement in net income to $18.3 million in the third quarter. The heady growth was supported by a 12.5% increase in net sales to $479.6 million and same-store sales growth of 1.8%.
• Linens ‘n Things Inc. reported net earnings of $1 million in the third quarter, down from $17.2 million in the year-ago period. The downturn came on a 3.8% decline in net sales to 3.8% for the quarter and comps shrinkage of 10.2%.
•Build-A-Bear Workshop grew its net income by half to $5.3 million in the third quarter on 1.3% comps growth and a 25.7% jump in net sales to $83.2 million.
Trans World Names Litwak President
Albany, N.Y., Trans World Entertainment Corp. named James A. Litwak as president and COO. He was most recently senior VP of Columbia House.
This will be Litwak’s second stint at Trans World. Between 1996 and 2000, he served the entertainment retailer as executive VP of merchandising and marketing. He also spent 14 years with Federated Department Stores as president of Macy’s West.