September 29, 2008,
Bloomie’s to Open in Dubai in 2010
Macy’s Inc. said its upscale division will open two Bloomingdale’s stores in Dubai, United Arab Emirates, in February 2010 — the first stores outside the United States for the company. A three-level apparel and accessories store of 146,000 square feet and a one-level home store of 54,000 square feet will anchor The Dubai Mall.
JCPenney Ramps Up Linden Street
Top of bed “is a real winner” for JCPenney’s new Linden Street private brand home collection, launched this summer. Window and bath also have been strong, Jeff Allison, evp home told HTT. “We will continue to ramp up the whole program. The statement it makes to consumers is one of our strongest private brands.” Allison and Mike Boylson, evp and chief marketing officer, took part in celebrating a downtown Manhattan park renovation last week, part of JCP’s nationwide community action program. Allison added, “All private brands are strong.”
Pier 1 Plans Smarter Markdowns
Specialty retailer Pier 1 Imports intends to upgrade its markdowns. During the summer clearance period in preparation for back-to-school promotions, Pier 1 sold “more than we had planned in at 50% and 75% off and less at 25% and 30% off,” said Alex Smith, president and ceo. He added, “The emphasis in our marketing and in our stores was primarily on lower ticket items to the detriment of our furniture business.” Smith emphasized, “Next time we will do much more in regional markdowns, and that is what we would have done differently.”
Ike Cost Dillard’s $10M, One Store
Department store operator Dillard’s Inc. said that Hurricane Ike will cost it up to $10 million and the loss of one store. “Dillard’s estimates the extent of the damage to property and inventory which will not be covered by insurance to be approximately $8 million to $10 million,” the company said, noting, “Over half of this damage occurred at that Mall of the Mainland store in Texas City and the company does not plan to reopen that location.” Dillard’s suffered disrupted store operations from Texas to Indiana.
Linens ’n Things CFO Rowan Exits
Francis Rowan resigned effective Oct. 6 as svp, cfo and secretary of Linens Holding Co. and Linens ’n Things, according to a filing with the SEC. Scott Hurd, currently vp, controller and treasurer, will add the titles of cfo and secretary as of Oct. 6. Hurd will also become a director of Linens Holding and LNT. His base salary will increase to $250,000 from $210,000, the company stated.
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