Archive for the ‘Retail News’ Category
The owners of Blue Delta Jean Co. (BDJ) announced their plans to open a studio in Oxford.
“Oxford was an easy choice for our first retail venture.” says BDJ CEO Josh West, “It’s been a strong market for us from the beginning and the town has an atmosphere for fashion that rivals cities much larger in size.”
According to the company,
Located in the heart of downtown Oxford the bespoke studio will provide customers the opportunity to customize their jean by selecting from a collection of raw materials including denim, thread, and hardware. The experience will include a fit session with a BDJ designer. The studio will also carry custom shirts, limited runs of hand-sewn leather goods, and other unique American Made fashion products.
“The community has been very receptive to the concept.” says Oxford resident and BDJ COO Nick Weaver, “Downtown Oxford is already providing some remarkable options in southern style. We feel that our premium bespoke denim will fit right in.” Read the rest of this entry »
Women’s retailer Coldwater Creek is liquidating, which means it will be closing all of its stores.
The company, which hasn’t posted a profit since 2007, said is will begin going-out-of-business sales at its nearly 400 stores by Mother’s Day, May 11.
Officials at The Mall at Barnes Crossing in Tupelo said they didn’t know when the Coldwater Creek location there – which opened in 2008 – would close.
The company listed assets of $278.5 million and debt of $361.3 million in Chapter 11 papers filed today in U.S. Bankruptcy Court in Wilmington, Del..
The chain said revenue peaked at $1.1 billion in 2006. It expanded from 198 stores in 2005 to 336 locations in 2007 before the global economic downturn stunted its financial success and triggered a series of management changes, according to court filings. Sales at stores open at least a year plunged 17 percent in the quarter ended Nov. 2.
The company joins women’s clothing chains Dots LLC and Ashley Stewart Holdings Inc. in bankruptcy. Dots, with 400 stores, shut down after filing in January. Ashley Stewart, with 168 stores in 24 states, sought Chapter 11 protection on March 10. A drop in mall traffic also has helped to drive pizza seller Sbarro LLC, toasted-sandwich chain Quiznos and the owner of Hot Dog on a Stick to seek court protection since February.
As promised, CarMax has begun construction of its new store in Tupelo.
Well, maybe not actual construction, but site work. As you can tell by the photo, it’s a bit of a muddy mess as construction crews were working the site this morning.
In February, CarMax officials said construction would begin this month, with a plan to finish in September.
The store will be a total of 7,467 square feet, with 4,394 dedicated to the sales area. The service area will have 2,439 square feet, and a future car wash will cover 936 square feet.
An uncovered “presentation area” will take up the remaining 634 square feet.
The dealership will have 54 parking spaces for customers, while there are 151 spaces for vehicles that will be on sale.
It’s located adjacent and to the south of Fairfield Inn and Suites on Tom Watson Drive.
Filed with the city’s Development Services department are the companies’ site plans and architectural drawings so here are what the buildings for Firehouse Subs and Carlock Kia will look like, more or less. You’ll have to scroll down to see The Carlock image. The CarMax image is available on the link provided above.:
Office products superstore Staples is closing 225 of its North American locations by the end of 2015, the company said today.
Staples has two stores in Mississippi – Tupel0 and Pascagoula.
…. the largest U.S. office-supplies chain, will close as many as 12 percent of its North American stores and cut as much as $500 million in costs as online competition continues to hurt sales. The shares fell.
The annual pretax savings, which the company expects to achieve by the end of 2015, will come from areas including the supply chain, sales force, marketing and information-technology services, in addition to the store closings, the Framingham, Massachusetts-based company said in a statement today.
The retailer is facing increased threats from Internet-based rivals such as Amazon.com Inc., a challenge that spurred Office Depot Inc. to merge with OfficeMax Inc. last year. Staples said sales in its fiscal first quarter will fall from a year earlier, the fifth straight quarterly decline, and profit will be as much as 22 cents a share, trailing analysts’ 27-cent average estimate.
The shares fell 15 percent to $11.35 at the close in New York for the biggest one-day decline since May 18, 2011. The stock has slid 29 percent this year, compared with a 1.6 percent gain for the Standard & Poor’s 500 Index.
Ashley Furniture HomeStore, the largest furniture retailer in the U.S., celebrated the opening of its 500th store in Longview, Texas, on Feb. 21. It is the chain’s 48th store in the Lone Star state.
The company, whose sales exceeded $3 billion in 2013, has 50 additional HomeStore openings on tap in 2014.
“When the first HomeStore opened in 1997 (in Anchorage, Alaska), we were confident that this business model would be capable of providing complete home furniture solutions that would meet or exceed consumer expectations in price, delivery and service,” said Todd Wanek, president and CEO of Ashley and Ashley Furniture HomeStore.
“It is with a tenacity to never stop innovating that our teams – from the local level to our corporate headquarters – have propelled our growth throughout the last two decades, and with the latest improvements to our operations and customer fulfillment systems, I’m confident that this trend will continue into the future.”
Ashley Furniture Industries employs about 3,000 workers at its facilities in Northeast Mississippi: Ecru, Ripley and Verona.
Senate Bill 2425 gives sports enthusiasts a sales tax break on firearms, ammunition, hunting supplies and fishing supplies purchased the first weekend of September. Louisiana has a similar holiday.
“This tax break is for Mississippians who enjoy outdoor sports and encourages more citizens to participate in outdoor shooting sports,” Reeves said. “I’m thankful for the support of the National Rifle Association on this bill and so many other strong Second Amendment protections we’ve passed this year.”