UPS, Staples Partner on New Stores in China
Atlanta, United Parcel Service Inc. and Staples Inc. have teamed up to open a retail store concept together in China called Staples UPS Express.
The store combines office supplies and document-processing services from Staples with packaging and international shipping services from UPS.
The first two Staples UPS Express stores opened Monday in Beijing. Two more are slated to open in Shanghai by the end of 2007.
“The Staples UPS Express concept in China stems from a long-term alliance between the two companies,” said Richard Loi, senior VP for UPS Asia Pacific and China District. “Our strengths, interests and commitment to China have led us to develop Staples UPS Express, which will offer customers a convenient, one-stop location for office supplies, document services and international shipping needs.”
Vegas Fresh & Easy stores to open Nov. 14
EL SEGUNDO, Calif. Tesco today announced that it will open five Fresh & Easy Neighborhood Market stores in the Las Vegas area on Nov. 14.
These five stores will be the first Fresh & Easy locations to open in Nevada. The company has announced six California store openings on Nov. 8 in Los Angeles, Anaheim, Arcadia, Hemet, West Covina and Upland. The company said more stores will also open in San Diego and Phoenix by the end of the year.
“We are very excited to open our doors and bring fresh, wholesome food at affordable prices to our neighbors in Las Vegas,” said Tim Mason, Fresh & Easy’s ceo. “We are also excited to show the community our strong commitment to being a good neighbor and a great place to work.”
According to Tesco, each Fresh & Easy store will be roughly 10,000 square feet, smaller than the typical supermarket to give customers a faster, easier shopping experience. In addition to offering a range of Fresh & Easy private label and national brand name products at low prices, Fresh & Easy will also offer customers a selection of fresh, prepared meals.
DSW lowers 2007 outlook
COLUMBUS, Ohio DSW today announced that it has lowered its guidance for 2007. The company now expects annual comparable-store sales to be in the range of flat to down 2%, below its original guidance for comparable-store sales to be flat to up 3%.
The change in the outlook, according to DSW, is because the company estimates a mid-single-digit decline in comparable-store sales for the third quarter ending Nov. 3, based on net sales results for the 11 weeks ended Oct. 20.
DSW said that based on current business trends, estimated annual 2007 earnings are now expected to be at least 10% below last year’s reported diluted earnings per share of $1.48, below the company’s previously announced estimate for diluted earnings per share of $1.63 to $1.68.