October 25, 2004,
Kmart Names New President and CEO
Kmart Holding Corporation appointed Aylwin Lewis president and CEO. Lewis will also join the Kmart Board of Directors. He joins Kmart from YUM! Brands, Inc., where he was president, chief multi-branding and operating officer. Julian Day, who has served as Kmart's president and CEO since January 2003, will remain on the board during the transition.
Redesigned Macy's Home to Open
Lowe's Opens Florida DC
Lowe's has opened a 1.3 million-square-foot regional distribution center in Osceola County, Fla., that will service approximately 120 stores throughout Florida and southern Georgia. The fully automated center is equipped with more than seven miles of conveyor to transport more than 25,000 items each year.
NRF Predicts Happy Holidays
The National Retail Federation 2004 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, found that the average consumer plans to spend $702.03 on the holidays, up 4.5 percent over last year. Total holiday spending this year is estimated to reach $219.9 billion.
Penney to Open SoCal Store
JCPenney will open a department store at Victoria Gardens, located in Rancho Cucamonga, Calif., at the end of the month. The store, covering over 130,000 square feet, is a new format designed for greater shopping convenience, stated the company.
Wal-Mart Opens No. California Store
Although some California markets have fought against Wal-Mart expansion into their neighborhood's this year, Wal-Mart opened its first supercenter in Northern California last Wednesday in Stockton. Wal-Mart opened its first supercenter in California this past March in La Quinta.
Retail Weatherman Forecasts Spending
Weather conditions for the holiday 2004 shopping season will be relatively favorable, according to Planalytics. The company also predicted that the weather for the Black Friday kick-off to the holiday shopping season on Nov. 26 should show the most favorable year-over-year change since 1999.
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