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Wal-Mart Revs Up in Gas City, Ind.

BY CSA STAFF

Marion, Ind., Wal-Mart Stores plans to build an 895,000-sq.-ft. distribution center in Gas City, Ind. The deal is described as a $60 million project that could open within three years.

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Ralphs to Close 11 Stores

BY CSA STAFF

Sacramento, Calif., The Sacramento Business Journal reports that Ralphs is closing 11 poorly performing stores in California, including two units in Sacramento.

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Coach Posts 41% Jump in 2Q Profit

BY CSA STAFF

New York City, Handbag and accessory manufacturer and retailer Coach Inc. announced a 41% increase in net profits to $134 million, or 69? per share, compared with $95 million, or 50? per share, the prior year. Revenue climbed 29% to $532 million from $412 million last year. Comparable-store sales jumped 16.5%, with retail stores up 13.9% and factory outlet sales up 20.7%.

“This spring, as planned, we will add up to nine more retail stores in the U.S., bringing the total to about 20 new retail stores in fiscal 2005. We will also be adding at least two new locations in Japan during the second half, for a full-year total of at least 10 new locations,” said Lew Frankfort, chairman and CEO, Coach.

Looking ahead, Coach estimates fiscal 2005 sales will rise at least 26% to more than $1.66 billion, with earnings per share of at least $1.87. Analysts are forecasting full-year profit of $1.84 per share on revenue of $1.66 billion.

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