Tiffany & Co. to open store in Amsterdam
New York City Tiffany & Co. announced plans to open a new store in Amsterdam, Netherlands, this fall.
The approximately 2,100-sq.-ft. store will be located in a historic building at 86-88 PC Hooftstraat, in the city’s premier shopping area.
The new store features signature details of Tiffany’s famous New York City flagship store, including brushed stainless steel and custom furnishings.
DSW Shoes expands in Calif.
DSW will be opening a location in Folsom, Calif., on March 19. The 15,000-sq.-ft. store will be the second DSW location in the Sacramento market.
In 2008, DSW opened 41 stores and launched dsw.com in response to customers’ requests to shop 24 hours, seven days a week. The new Folsom location is the second DSW store opening of 2009.
Circuit City to shut down
Bankrupt electronics retailer Circuit City said Friday it will close its remaining 567 U.S. stores and sell all its merchandise.
The company said it has 34,000 employees.
“We are extremely disappointed by this outcome,” James Marcum, acting CEO for Circuit City, said in a statement. “We were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company.”
In a filing with the U.S. Bankruptcy Court for the Eastern District of Virginia, which a judge approved late Friday, Circuit City – the No. 2 electronics retailer after Best Buy) — said it had reached an agreement with four companies to start the liquidation process.
The company said the sale would begin Saturday and run until March 31, pending court approval.
The retailer’s Web site and call center will cease to operate after Jan. 18.
Circuit City said employees will receive 60 days’ notice of the termination.
Employees who are laid off earlier will get pay and benefits for the 60-day period beginning Friday, the retailer said.
Those who remain with the company to assist with the liquidation, will receive pay and benefits.
Circuit City also operates about 765 retail stores and dealer outlets in Canada. The company said its Canadian operations, which employ 3,000 workers, will continue to operate.
The company said it will redeem its gift cards through the liquidation sale, but the cards will have no value once the stores are closed.