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NEWS
By Kim Clark and Meredith Schlow and Kim Clark and Meredith Schlow,Staff Writers | May 21, 1992
R.H. Macy & Co. Inc. announced yesterday that it will shut its 200-worker Hunt Valley Mall store by Aug. 1, raising fears about the survival of other retailers in the troubled mall.The New York-based retailer, which filed for Chapter 11 bankruptcy protection in late January, said it was also closing seven other stores nationwide, affecting 1,850 workers.The Hunt Valley store will be the second Macy-owned department store to be shuttered in Maryland this year. The debt-laden company has said it will close its I. Magnin store at White Flint Mall in Kensington on June 7.Macy's employees at Hunt Valley said they learned of the closure in a letter yesterday and were told they would receive four weeks of severance plus earned vacation pay. Macy also said it would help employees explore other job prospects in the company.
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BUSINESS
November 10, 1992
Retailers do wellThree national retailers reported fiscal third-quarter results yesterday that offered support for Wall Street's contention that consumers are beginning to open their wallets in time for the holiday selling season.Dillard Department Stores Inc. reported a double-digit gain in net income. Although May Department Stores Co. posted a loss, its operating earnings also grew by double digits. And Ann Taylor Stores Corp., which had struggled for two years to turn around its weak specialty store business, posted an 18 percent increase in net.MCI goes wirelessMCI Communications Corp.
BUSINESS
By Kevin Thomas and Kevin Thomas,Evening Sun Staff | July 19, 1991
Al Volski, the manager of the W. Bell & Co. store in Cockeysville, said he wasn't surprised by the notice he received this week that his store -- and all of Bell's remaining 10 stores -- are about to be closed for good.A 10-year Bell employee, Volski said he has seen the highs and lows of the catalog showroom industry and knew an era was about to end."It's just another page to be turned," said a resigned Volski yesterday.Court-appointed liquidators are scheduled to visit all Bell stores in the Baltimore and Washington areas within 10 to 20 days, Bell Executive Vice President Bernard Blum wrote in a letter to employees this week.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | August 30, 1995
Beginning at 8 a.m. Friday, Woodward & Lothrop department stores will open their doors for a fire sale of $200 million worth of merchandise.The grand old name in retailing -- "Woodies" to customers -- closed yesterday to take stock of inventory and will reopen in Columbia, White Marsh, Annapolis and elsewhere to liquidate all of its merchandise.Expectations for a deluge of shoppers are so high that the department stores are temporarily adding 200-300 employees.The closing sale -- with 10 percent to 30 percent markdowns -- will last for up to 90 days, but it is more likely to take less than 60 days, according to Gordon Brothers Partners Inc., the Boston-based firm handling the liquidation of the 115-year-old department store chain based in Alexandria, Va."
BUSINESS
By BLOOMBERG NEWS | May 23, 1998
ST. LOUIS -- May Department Stores Co., parent of Hecht's, Lord & Taylor and others, said yesterday that it plans to invest $3.6 billion over five years in its department stores.By 2002, May will add 100 new department stores to its existing base of 370 stores, remodel or expand 100 stores and invest $350 million in new technology to improve service, Chief Executive Gene Kahn said in a statement to the company's annual meeting.May Department Stores, which had $12.4 billion in sales for the year that ended January 1998, plans to invest $725 million this year to open 19 new stores and expand seven stores, adding 2.9 million square feet of retail space by the end of the year, the retailer said.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | February 6, 1998
Mild weather and deep discounts on end-of-year merchandise lured consumers into the nation's stores in January, where shoppers gave retail sales a healthy boost and helped pull apparel sales out of a slump.After a disappointing Christmas, apparel retailers saw monthly sales climb into the 10 percent range."Apparel has been weak up to this point, and there was no reason for apparel to show any strength, but merchants slashed prices and consumers came out of the woodwork," said Kenneth Gassman, a retail analyst with Davenport & Co. in Richmond, Va.The trend toward shopping either upscale or at mass discounters continued as well, while department stores took a hit with only marginal sales increases.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,SUN STAFF | April 12, 1996
An early Easter this year brought consumers out of hiding as U.S. retailers reported that sales bounded up sprightly in March, according to monthly figures reported across the nation yesterday.Consumer spending in March was driven not only by Easter, but also by the coming of spring, a rite of passage in shopping for lawn chairs, T-shirts and other seasonal goods, which boosted sales at department stores and apparel retailers.March represented the second consecutive healthy month in retail after an anemic Christmas season, but whether a major upturn is in the offing remains uncertain, analysts said.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | March 26, 1995
The names Woodward and Lothrop have graced dry goods emporiums for more than 100 years. Whether they will continue to do so is uncertain.Woodward & Lothrop Holdings is on the bidding block. As a result of its continuing bankruptcy process, the Alexandria, Va.-based department store chain is considering buyout proposals or other offers from outside investors.Chairman and CEO Robert B. Mang said last week that Woodies has received "viable interest" from four potential partners. Some are other retailers, he said.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | June 22, 1995
After 115 years in business, Woodward & Lothrop Inc. agreed yesterday to be bought by a group led by Federated Department Stores Inc., the giant retailer that swallowed R. H. Macy & Co. in December.Woodies, which has operated under Chapter 11 bankruptcy protection since January 1994, said the deal includes the purchase of most of its assets, including at least 11 Woodies stores and the flagship John Wanamaker store in downtown Philadelphia.Woodward & Lothrop said the deal, including the liquidation of assets not purchased by Federated, would generate a projected $640 million.
FEATURES
By Fred Rasmussen and Fred Rasmussen,SUN STAFF | January 11, 1998
Forty-three years ago, Baltimoreans were talking about the Dec. 27, 1954, closing of O'Neill & Co., the venerable downtown department store that had stood on the southwest corner of Charles and Lexington streets since 1882.It had survived the Great Fire of 1904, the coming of suburban shopping centers and competition from other department stores. only shuttered its doors after its management had been unable to negotiate new leases on its buildings.Today, there are still Baltimore homemakers who proudlyproduce at holidays and other occasions linen tablecloths and ,, napkins bought by their mothers and grandmothers at O'Neill & Co. a half-century or more ago. O'Neill's, as Baltimoreans always called the store, was known as the purveyor of the finest linen goods in the city.
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