January 10, 2005,
Penney Opening Phoenix Store
JCPenney is opening a store at Foothills Park Place in Phoenix on Jan. 14.
Featured brands will include: Arizona Jean Co., Chris Madden for JCPenney Home Collection, SouthPole, Worthington, Stafford, Mudd, Bisou-Bisou, Oshkosh, St. John's Bay, and the Colin Cowie for JCPenney Home Collection.
Kmart Revises Inventory Levels
Kmart Holding Corporation has updated its November and December inventory levels.
At the end of December, the company's inventory levels were revised to approximately $3.1 billion as opposed to the $3.4 billion previously announced.
The company stated that the correction has no impact on its previously announced cash balance of approximately $3.9 billion at the end of December and the approximate $3.2 billion anticipated at the end of Kmart's 2004 fiscal year on Jan. 26.
ShopKo Express Rx To Open Jan. 15
ShopKo Stores Inc. will open its new neighborhood drug store format — ShopKo Express Rx — on Jan. 15.
Two of the new stores — both 15,000-square feet — are located in the Green Bay suburbs of Howard and Ledgeview. A third store in Port Washington, Wis., has been remodeled and will also open Jan. 15.
ShopKo Express Rx is a neighborhood drug store format focused on providing professional pharmacy services, health and wellness products and information, home business solutions, photo processing, an assortment of food and beverages, and traditional drug store merchandise.
99 Cents Only Stores Invests In Plotkin
Norm Plotkin has been hired by 99 Cents Only Stores as senior vice president of store development.
Plotkin was with Factory 2-U Stores, Inc. from 1998 through 2004, where he most recently was CEO.
Prior to his appointment as CEO in December 2003, Plotkin was executive vice president of store development, human resources and general counsel.
From 1996 to 1998, he was president of a commercial real estate firm based in Illinois. From 1988 until 1996, Plotkin served as a senior vice president for Handy Andy Home Improvement Centers Inc., a $600 million revenue company, where he was responsible for real estate, finance, administration and legal.