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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.
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BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | June 23, 1995
With both a Woodward & Lothrop and Macy store, White Marsh Mall could be in for a shake-up if Macy's owner follows through on plans to buy most of the Woodies chain.Federated Department Stores Inc., a Cincinnati-based chain with 354 department stores, has disclosed few details about its intentions, but says it will acquire at least 11 of Woodward & Lothrop Inc.'s 15 department stores. Three are in the Baltimore area -- Columbia, Annapolis and White Marsh.But only the Woodies in White Marsh -- with about 200 employees -- goes head to head with another Federated department store.
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 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 Michael Dresser | January 16, 1992
Ames Department Stores, mired in Chapter 11 for almost two years, will close four Baltimore-area stores as part of its efforts to emerge from bankruptcy court protection and compete with the Wal-Marts and K marts of the world.Approximately 300 people will lose their jobs, said Ames' public relations manager, Bill Roberts.The closings, which will leave 36 stores in Maryland, were announced yesterday in advertisements for "total liquidation" sales at 5401 Baltimore National Pike and 2501 Belair Road in Baltimore; 8514 Liberty Road in Randallstown; and 7 Mountain Road in Glen Burnie.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | March 9, 2001
Retail sales grew at an expected slow pace in February, as U.S. consumers continued tightening spending amid a weakening economy. Sales at the nation's biggest chain stores rose, on average, 2.8 percent for the month, when retailers typically clear out winter merchandise, a Bank of Tokyo-Mitsubishi index showed. The gain fell short of a much healthier increase of 6 percent in February 1999, before consumer confidence began to ebb because of higher fuel costs and a plunging stock market.
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.
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.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | July 30, 1995
At 6:30 a.m., April 8, 1861, an obscure young man named John Wanamaker opened the doors to a modest clothing shop tucked in downtown Philadelphia, 94 hours before the first gunshot echo of the Civil War.More than a century later, the fabled Wanamaker name, graced on a 12-story granite and steel department store, will vanish from the retailing universe before a parade of lawyers in Room 627 of U.S. Bankruptcy Court in New York City at 10 a.m. Aug. 8.There goes...
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