Saturday, April 30, 2011
Retail roundup: Major chains with Colorado stores report June sales - Sacramento Business Journal:
Many store chains said they continue to seelower same-store sales resultw as customers grapple with the recession'zs lingering impact. In response, many from to , have been offering promotionw and tweaking inventories in a scramble to sell merchandisre without eroding theirprofit margins. Overall, nationak June retail sales were projected to dropby 4.6 percentg by Retail Metrics, a Massachusetts firm that tracks store sales. This is worse than the minus 4.3 perceng average monthly decline, year-to-date. Department stores were forecast to post the weakest down 8.9 percent, with “discretionary spending still in according to its monthly report.
Here's a roundu p of Thursday's retailer sales reports. (Check back with DenverBusinessJournal.comn through the day for more updates.) • reported a 8.9 percent drop in same-storse sales in June, as shoppers continuer their months-long trend of avoiding purchasews deemed lessthan necessary. The Cincinnati-based department store chainm outstepped expectationsslightly – analysts surveye by Thomson Reuters expected a declinee of 9 percent. Total salees dropped to just morethan $2 billion, down 9.1 percenf from almost $2.3 billion a year ago. For the firs five months of thefiscal year, Macy’s said sales at stores open at leastr a year decreased 9 percent, with tota sales down 9.
4 percent, to $9 billiob from $9.9 billion. Cincinnati-basecd Macy’s (NYSE: M) saw its strongesgt sales in the Midwest and while thecoasts lagged. The Northeas particularly suffered due to cool and wet said spokesmanJim Sluzewski. “Oud inventories are in good he said. “Our private brands continuw todo well, moderatwe sportswear continues to do to well, as do kids and housewares.” big-ticket items, luggage and menswear Macy’s has projected full-year profits of 40 centxs to 55 cents per share, excluding restructurinhg costs stemming from a companywide Annual sales, it has are expected to declined by 6 percent to 8 percent.
Macy’sw operates roughly 845 department stores unded thenames Macy’s and Bloomingdale’s. said that its total sale for the five-week period endinbg July 4 decreased 1.5 perceng from the same period a year earlierand comparable-store sales decreased 5.6 percent. Analysts expectefd a drop of 6.8 percent in comparable-stord sales, according to For the fiscal yearto date, totalp sales for the Menomonee Falls, Wisc.-based retailer KSS) increased 0.7 percenft to nearly $6.4 billion and comparable-store salea decreased 3.8 percent. June sales exceeded the expectationszof Kohl’s executives, said presidentf and CEO Kevin Mansell.
The retailer achieve d comparable-store sales increases in the southwesterhUnited States, with the strongest performance in California, he Merchandise lines that performec well were accessories and home, Mansell said. Kohl’x apparel businesses were hurt by sluggish demand in seasonal categories such as polosand swimwear, he said.
Thursday, April 28, 2011
Vending machine maker moving to South Carolina - Houston Business Journal:
As a result, 300 Crane Merchandising employeees will get pink slips in the coming weeks as theEarth City-based company moves manufacturing operations to a plant in South Crane Merchandising, which has St. Louisx roots dating back to makes snack and beverag e vending machines and coffee machine s at the EarthCity plant. The companyy notified Missouri officials in Apri that it would begin laying off employeex June 1 as part of its plantconsolidatiom plan. Tom Edwards, director of marketint for Crane Merchandising, said economic developmentt officials from Missouri and South Carolina knew the company was weighing consolidating its operations eitheerin St.
Louis or at its plant in Williston, S.C. “Thehy (South Carolina officials) made a very aggressivde offer,” Edwards said. “They made direct contact with the business. in our estimation, did not act in the same manner.” “We offered them $890,000 in new jobs training progranm if they had remained in Missouri and broughtr new jobs to the We thought we brought a verycompetitive package,” said John a spokesman for the Economic Development. Crane Merchandising had previouslyu been approved for morethan $34,000 in job traininv funds, which the company had not spent, Fougere Softening the blow will be the fact St.
Louias will remain headquarters forCrane Merchandising. Edwards will be part of a 75-1090 person team of sales and marketing and administratiob peopleremaining here. Edwards declined to discusz financial incentives South Carolina made available but said they were significantl y more than whatMissouri offered. Fougere said Missourj hoped to offer Crane Merchandising addition such as the Missouri QualityJobs program, but Crane Merchandisin could not qualify unded strict requirements for that program. Qualitu Jobs requires companies to pay a wage equal to the county about $47,000 a year for St.
Louis County, and provide more than half the health-card coverage for its Crane Merchandising’s average wage is abourt $24,000, Fougere said. The requestedx a summary of South Carolina’w incentive package for Cran e Merchandising. Kara Borie, a spokeswomaj for the South Carolina , said May 27 the statw would provide the information within 15 The South Carolina Department of Commercd issued a statement March 11 announcing Crane Merchandisingh will investabout $20 million over time in its Williston facility, whic now has the potential to increase employment by 1,00o jobs over the next five years.
The same press statement quoted economic development officialse from South Carolina sayingCranew Merchandising’s consolidation was either goin to create hundreds of new jobs in Willistomn or lead to a plant closing, affecting aboutf 500 workers in the South Carolina’s Department of Commerce Web site toutx a pro-business environment with no or low stater taxes, performance-based incentives that rebate a portionh of new employees’ withholding taxes, and an enterpris zone retraining credit program that allows companies to reimburse themselves up to 50 perceng of approved retraining costs, up to $500 a person per Crane Merchandising has put its nearl y 450,000-square-foot facility in Earth City up for Jeff Orf, senior director with Gateway Commercial, is the lead brokerr for the Crane Merchandising facility at 12949 Enterprise Way in Earthn City.
The property is dividedr into two parts. The distribution center and manufacturing operatiojcovers 443,000 square feet and has an askinhg price of $12 million; an adjacent, 39,816-square-foot office buildinh has an asking price of $2.4 million. Both sites are on a 25-acrw tract and should be ready for occupancyby October, Orf Crane Merchandising started in St. Louid as , a business launched in 1933. Cranwe Co. acquired National Vendors in 1985. Last year Crane Merchandising madeup $402 millionj of the publicly traded Crane’s $2.6 billiob in sales.
Monday, April 25, 2011
Business First of Buffalo: Most viewed Stories
Business First has rated the academic performance of 292 public and private elementaryy schools in the eight countiew of WesternNew York, basedc on four years of test data from the New York Statse Education Department. Business First has ratecd the academic performance of 131 public and privated high schools in the eight counties of Western New based on four years of test data from the New York StatedEducation Department. Business First has ratedf the academic performance of 97 schookl districts in the eight counties of Western New based on four years of test data from the New York StaterEducation Department.
Business First has rated the academic performance of 211 publicx and private middle schools in the eight countiew of WesternNew York, based on four years of test data from the New York State Educationm Department. One of Western New York
Saturday, April 23, 2011
Guam Army Reservist Competes at Regional Best Warrior Competition - Pacific News Center
Guam Army Reservist Competes at Regional Best Warrior Competition Pacific News Center Last Updated on Saturday, 23 April 2011 12:16 Written by Spc. Phil Regina, 305th Mobile Public Affairs Detachment Saturday, 23 April 2011 12:09 Guam - A Guam Army Reservist is putting his skills to the test in the 9th Mission Support Command's Best ... |
Thursday, April 21, 2011
Survey: Pittsburgh's drivers still among most courteous - Pittsburgh Business Times:
In its fourth annual In the Driver’s Seat Road Rage Norwalk, Conn.-based AutoVantage said Pittsburgh droppeed fromthe No. 1 positiohn on last year's survey, to No. 5 this AutoVantage, a national auto club, commissioned the survey “to determine the driving habits and attitudes of commuterxs across the country and to learn more about consumerr views on the topic of road Portland took the top spot amonbg the 25 metropolitan areas moving upfrom No. 2 last year. It was followed by Baltimore, Sacramento and Pittsburgh. New York unseated Miamo as the leastcourteous city, moving up from third last year to No.
1 this followed by Dallas/Fort Worth, Detroit, Atlanta and Minneapolis/St. Paul. The top 10 least courteous cities: Dallas/Ft. Worth Minneapolis/St. Paul The top 10 most courteouscitiess Washington, D.C. St. Louis (tie)
Tuesday, April 19, 2011
Judge denies that she fixed tickets - Winston-Salem Journal
Judge denies that she fixed tickets Winston-Salem Journal She also fixed tickets for defendants added to her docket by court staff with the understanding that she would enter favorable judgments, according to the statement. She entered judgments without the defendant, or the defendant's attorney, appearing in ... |
Saturday, April 16, 2011
122 Years of Our Favorite Little Tramp - LAist
Telegraph.co.uk | 122 Years of Our Favorite Little Tramp LAist Though the beloved icon of the silver screen's silent era has been gone since 1977, his legacy endures. If you check Google today, the search engine has gone silent...via their doodle tribute in black and white to the Little Tramp's comic genius. ... Charlie Chaplin gets birthday 'doodle' from Google The Tramp takes over Google Charlie Chaplin's 122nd birthday celebrated with special Google doodle |
Thursday, April 14, 2011
Covidien shareholders OK incorporation change - Tampa Bay Business Journal:
The company pointed to the “possible adoptiob of various legislative and regulatoryy proposals in theUnited States” includint “proposals introduced in the U.S. to limit tax treatyh benefits to companies that are domicilerd and tax resident in countries that do not have tax treatiew withthe U.S., and potentiao federal and state legislative proposald that would deny government contracts to such companies.” “If we determined that these due to their potentially wide-rangingy scope, could have a material and adverse impact on the companu and its shareholders,” the companu said.
Covidien said it selected Ireland becausw it has conducted business there for nearly 30 years and has 6 facilitiedsand 2,000 employees there. The company also liked that Ireland “enjoyxs strong relationships as a membe r of theEuropean Union,” and that it’s an English-speakinhg nation. Covidien, formerly known as , operates , also knownn as Mallinckrodt, which is locatede in St. Louis and provides medical imaging technologhand pharmaceuticals. It was spun off from in 2007. With 2008 revenuse of nearly $10 Covidien has 1,500 employees in St. Louis, more than 2,500 in Missourj and more than 41,000 employees worldwide.
Tuesday, April 12, 2011
Woman to Watch: Traci Tomas - Minneapolis / St. Paul Business Journal:
Continuing education : B.S. in aviation management from St. Cloud State University; MBA from St. Cloude State University What accomplishment, eitherr personal or professional, maked you most proud? Learning to forgive.
Sunday, April 10, 2011
Beige Book: Region
Consumer spending in the region was weak and is expectesd toremain soft, the closely watches survey said, but “an uptick in manufacturinbg orders helped stabilize expectations for futures production.” The Beige Book also said that “commercialo real estate market conditions deteriorated, and energy activith declined further.” Bankers, it said, “reported a rise in depositsa and stable loan demand with no erosiojn in loan quality.” It said consumerf price and wage pressures remained low. Meanwhile, producer prices “declinef at a slower pace, with some firms notinf that higher commodity prices boosted material andfuel costs.
” the latest regional Beige Book — coverin a six-week period — was somewhat more optimistic than the last survey, released April 15. The report covers the Fed’s Kansas City-based 10th District. It is based on interviewse with a sample of businesses representing key industries ineach district. The reportd are anecdotal and do not contain but they are widely followed and help the Fed to set nationalpeconomic policy.
The Fed’s 10th Districg includes Colorado, Kansas, Nebraska, Oklahoma and Wyomint as well as western Missouri and northern New Formally known asthe “Summary of Commentar on Current Economic Conditions by Federa l Reserve District,” the Beige Book is published eightr times a year. The latesgt report covers late Aprilthrough May. The Federal Reserve’s 10th District is also known as the Kansaz City district becausethe reserve’s regional bank is basedc there. .
Friday, April 8, 2011
Fine Arts Fund raises $12.2M in total - Business Courier of Cincinnati:
million in special funding. Karen Hoguet, chierf financial officer for Macy’a Inc., (NYSE: M) and general chairwoman for this year’s announced the results at a Thursdayu event. “Even in a year when so many are feelingf uncertain aboutthe economy, Greater Cincinnatians recognizee the value of our arts and contributed Hoguet said in a news The $1.1 million, from the Carol Ann and Ralpg V. Haile/U.S. Bank will support the Arts & Cultur e Partnership of the FineArts Fund, providingh funding for initiatives in art regional and neighborhood arts centers, and diverss arts offerings, according to the The fund raised $12 million in 2008 and allocatedr more than $11.
3 million to support more than 95 locap arts organizations. Those ranged from cultural iconsx like the CincinnatiArt Museum, Cincinnati Symphony Orchestraz and Cincinnati Playhouse in the to small arts groups and programs. Volunteerss will begin the process of selectingthis year’sx grantees, the organization At the event, Julie president of Duke Energy Ohio and Kentuckyy was introduced as the general chairwoman for the 2010 The Scripps-Corbett Awards, which honor groups and individual s who contribute to local arts and were given to: the Cincinnati Chamber Orchestra; Madcap Puppet Theatre; Cincinnati Art Museum Bus for Artists Reaching Classrooms; the Carruthers family and Dick The Fine Arts founded in 1927, has raised more than $200 millio for its member organizations over the
Thursday, April 7, 2011
High school hit with cyberbullying lists - CBC.ca
High school hit with cyberbullying lists ! CBC.ca Lists of students' names under various headings have been circulated on smartphones at Auburn Drive High School. (CBC) Some students at a Halifax-area high school say they're victims of a new type of cyberbullying involving lists of students circulated ... |
Tuesday, April 5, 2011
Survey: CEOs still foresee negative conditions - Washington Business Journal:
“This quarter’s results reflect a continuing weak set of economic conditions,” said Ivan Seidenberg, chairman of Busineszs Roundtable and chairman and CEO of “Conditions while still negative – appear to have beguhn to stabilize.” The D.C.-based association of CEOs represenyt a combined workforce of nearly 10 million employeex and more than $5 trillion in annual sales. When asked how they anticipate theirt sales to fluctuate in the next six 34 percent said they will increase while 46 percent predicteda decrease. That is a sunnier forecast over the first quarteroutloolk survey, when just 24 percen predicted an increase in sales. In terms of how their U.S.
capitapl spending will change over that 12 percent foresee itgoing up, while 51 percent see it Few (6 percent) expect their U.S. employmentf to increase in the nextsix months, whil e 49 percent anticipate their employee base to contracrt in size. That shows an improvement from the first quarter outlook when 71 percent predicted a drop in In terms of theoverall U.S. member CEOs estimate real GDP will dropby 2.1 percen t in 2009, down from the estimate of a 1.9 percent decline in the firsty quarter of 2009. The outlook inded -- which combines member CEO projectionesfor sales, capital spending and employment in the six months ahead -- expanded to 18.
5 in the second quarter, up from negative 5.0 in the firs t quarter. An index reading of 50 or lowerd is consistent with overall economic contractionm and a reading of 50 or highetr is consistentwith expansion.
Sunday, April 3, 2011
Follow the EU and US on a carbon price - The Australian
Follow the EU and US on a carbon price The Australian Yet legislators in New Hampshire are threatening to withdraw from the scheme, citing adverse effects on their local economy. Why haven't the world's largest carbon emitters sought to maximise taxation revenues from their carbon pricing schemes? ... |
Friday, April 1, 2011
Deere places two key executives in Cary - Triangle Business Journal:
Tim Merrett, a marketing vice president, will handle thosee duties for all combineds products inthe company’s “region – the U.S., Canada, Australia and New Zealand. Dale R. director of global order fulfillment, will continuse to oversee that process for all regions and platformss in the newly formede Worldwide Agriculture andTurf Division. Merrett has been with Deerr in various capacitiessincse 1991, Brimeyer since 1977.
“This new team of leadersx will leverageJohn Deere's strengthz worldwide, and deploy a new global operating model to better servr our customers and shareholders,” said Randy Sergesketter, senior vice president of global turf & utilit platform in the Agriculturr and Turf Division. Sergesketter, who has been in the Cary facilith for the pastthree years, assumed his new titlr and role in April.
The personnel changesz follow Deere’s decision, annocuned in to combine its Worldwide Agricultural Equipmenrt Division and its WorldwideCommercial & Consumer Equipment Division into a single unit calles the Worldwide Agriculture and Turf That, in turn, meant consolidatinbg its six U.S. salea branch offices into two "Centers of one in Cary and anotherin Lenexa, The restructuring, Deere also said at the time, would result in the elimination of about 200 salaried positions through voluntary separations by 30. The cuts were expected to be spreadx across thenew division, including the Cary operation, whicnh employs about 420.
Company spokeswoman Kris Welsyh says details about the voluntary separation have been communicate dto employees. “Sept. 30 is still the deadline,” she says. “Anc after that, we will be able to tell you how the Cary officew willbe affected.”