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Urban Outfitters Expands in New York City

BY CSA STAFF

New York City Urban Outfitters Inc. has signed a lease to open a 15,000-sq.-ft., three-and-a-half-floor store in an old movie theater in New York City, on the city’s Upper West Side.

The 76-year-old building, which has been vacant for some time, is fashioned in the art deco style with 50-ft. ceilings and other period details.

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Wal-Mart, Netflix accused of monopoly building

BY CSA STAFF

NEW YORK Wal-Mart Stores and Netflix have been accused of trying to build a monopoly for online DVD rentals in a consumer lawsuit filed Jan. 2 in the U.S. District Court of the Northern District of California, according to reports.

The plaintiffs claim that in 2005, Wal-Mart agreed to end its online rental business and refer customersto Netflix, which in turn agreed to promote Wal-Mart’s DVD movie sales.

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Family Dollar posts 1Q earnings growth

BY CSA STAFF

MATTHEWS, N.C. Family Dollar Stores reported that net income per diluted share for the first quarter of fiscal 2009 increased 13.5% to 42 cents compared with 37 cents for the first quarter of fiscal 2008. Net income for the quarter increased 14.1% to $59.3 million compared with net income of $51.9 million for the first quarter of fiscal 2008.

As previously reported, sales for the first quarter of fiscal 2009 were approximately $1.754 billion, or 4.2% above sales of approximately $1.683 billion for the first quarter of fiscal 2008. Comparable-store sales increased 2.1%.

For the fiscal year ending August 29, 2009, the company expects net sales will increase 4% to 6% and expects comparable-store sales will increase 2% to 4%. Anticipating continued strong sales of consumable merchandise, the company expects earnings per share will be between $1.63 and $1.81 in fiscal 2009.

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