Discounters post strong sales; NRF raises retail sales estimate for 2002
Apr 11, 2002, Joel Groover
The National Retail Federation (NRF) today responded to strong growth in several major economic indicators by raising its retail sales estimate for 2002....
Big Lots reports strong sales, raises earnings guidance
Apr 8, 2002
Riding the discount retail wave, Big Lots, Inc. (NYSE: BLI) today said its sales in March shot up nearly 30% compared to the previous year. The Columbus-based...
Kmart reshuffles its management deck
Mar 11, 2002, Staff and wire reports
Kmart Corp. today announced that it has replaced the management team steering its Chapter 11 reorganization effort, including Chief Executive Officer...
Kmart announces it will close 284 money-losing stores
Mar 8, 2002, Joel Groover
Kmart Corp. today said it will shutter 284 under-performing stores and slash 22,000 jobs as part of its Chapter 11 reorganization plan. The Troy, Mich.-based...
What developers and owners should know about the Kmart bankruptcy: A Q&A with shopping center attorney Gary Glick
Mar 8, 2002, Staff and wire reports
With Kmart’s announcement today that it will close 284 stores as part of its Chapter 11 bankruptcy reorganization, Shopping Center World talked with Gary...
Retailers report strong February numbers as Greenspan declares economic recovery "well underway"
Mar 7, 2002, Joel Groover
Amid speculation the economic downturn is over, major retailers including Target, J.C. Penney and Ross today announced stronger-than-expected February...
Chico’s FAS posts record quarterly and end-of-year earnings
Mar 5, 2002, Joel Groover
Chico’s FAS today reported a 72% increase in net fourth quarter income compared to the prior year. The Fort Myers, Fla.-based retailer — which sells designer...
HOT TOPIC: Crossing the insurance gap
Mar 1, 2002, Ben Johnson, Editor-in-Chief
In the wake of Sept. 11, shopping center owners are caught between drastically higher insurance premiums and the ability to pass those costs on to cash-strapped tenants....
Gap gets back to the basics
Feb 27, 2002, Ben Johnson
If Gap Inc. CEO Mickey Drexler has anything to say about it, Gap is far from a goner. In announcing Gap's latest dismal financial results for 2001 on...
Reports: Kmart to release list of store closings by March 11
Feb 19, 2002, Staff and wire reports
Kmart Corp. reportedly plans to release a list by March 11 of the stores it wants to close as part of its ongoing restructuring efforts. According to...
Gap’s stock takes a dive following credit rating downgrades
Feb 15, 2002, Staff and wire reports
Shares of Gap Inc. -- which have fallen by 56% in the past year -- dipped still further today as investors grew more skeptical about the future of the...
Paper: Kmart to close 291 stores
Feb 13, 2002, Staff and wire reports
Citing a list of "unknown origin," The Detroit Free Press reported Tuesday that Kmart Corp. plans to close 291 stores across the country as part of its...
Paper: Kmart to close 291 stores
Feb 13, 2002, Staff and wire reports
Citing a list of "unknown origin," The Detroit Free Press reported Tuesday that Kmart Corp. plans to close 291 stores across the country as part of its...
Bucking the trend, Chico’s reports strong sales
Feb 5, 2002, Joel Groover
At a time when many women’s apparel retailers are suffering, Chico’s FAS Inc. today released a set of rosy financials. The Fort Myers, Fla.-based retailer...
HOT TOPIC: Shopping for stability
Feb 1, 2002, Steve Bergsman
Kmart plans to announce store closings next month
Feb 1, 2002, Staff and wire reports
Kmart Corp. plans to announce next month which stores it wants to close under its ongoing bankruptcy reorganization. The retailer’s top attorney, John...
The Gap Trap
Feb 1, 2002, Ben Johnson, Editor-in-chief
Slower sales at leading apparel retailer Gap portend a shakeup in the way mall owners think about tenant selection....
OUTLET INDUSTRY UPDATE: Recession proof?
Feb 1, 2002, Jon Boroshok
The outlook for outlets brightens as shoppers forego the frills in favor of value-focused spending....
Poll: Consumers prefer Wal-Mart and Target over Kmart
Jan 31, 2002, Staff and wire reports
A USA Today/CNN/Gallup poll released today appeared to provide evidence that Kmart’s troubles run much deeper than a few under-performing stores. Pollsters...
Kmart’s stock price rebounds as its restructuring efforts gain favor with Wall Street
Jan 30, 2002, Joel Groover
When Kmart Corp. filed for Chapter 11 bankruptcy protection Jan. 22, its stock price — which had reached a 52-week high of $13.55 in August — plummeted...
Charming Shoppes Inc. to close more than 207 stores
Jan 30, 2002, Staff and wire reports
Charming Shoppes Inc. announced a restructuring plan designed to boost profits by closing more than 207 stores. The Bensalem, Pa.-based retailer, which...
Toys ‘R’ Us to shutter 64 stores
Jan 28, 2002, Joel Groover
Toys "R" Us Inc. announced plans Monday to shutter 64 stores and eliminate 1,900 jobs. The nation’s No. 1 toy retail chain said the restructuring will...
Federated to close two Macy’s locations in Southeast
Jan 25, 2002
Cincinnati-based Federated Department Stores is shutting the doors at two of its Macy’s locations this spring. Riverchase Galleria in Birmingham, Ala.,...
Kmart declares bankruptcy, leaving developers with a dilemma
Jan 22, 2002, Joel Groover
Kmart Corp. filed for Chapter 11 protection today and announced that its 2,100 stores will continue to operate as it restructures its operations.However,...
