NEWS
By Jill Hudson Neal | September 19, 1999
With all the subtlety of tipsy tourists gliding down New Orleans' Bourbon Street during Mardi Gras, thousands of eager shoppers danced their way behind a jazz band through the front doors of Nordstrom at The Mall in Columbia for the first time Friday.As the Columbia Herald Trumpeters serenaded the crowd with the jazz standard "When The Saints Go Marching In," the mall's new and improved wing anchored by retail giant Nordstrom and 40 other stores made its long-awaited debut.Colorful confetti was fired from miniature cannons.
BUSINESS
By Lorraine Mirabella | March 14, 1999
Grocery retailers across the United States have slowed their expansions in favor of refurbishing old sites and beefing up specialty departments, but in the Baltimore area a handful of chains are racing to build stores in a battle for market share.Supermarket construction has reached a frenzied, nearly unprecedented pace as local and national companies extend their reach into the region, real estate experts say.By the end of next year, more than 40 new or expanded stores will have opened in just over a three-year span, according to a study by KLNB Inc., the Towson real estate brokerage firm.
BUSINESS
By Lorraine Mirabella | August 25, 1999
Jos. A. Bank Clothiers Inc. saw earnings dip 12 percent in the second quarter, the Hampstead-based men's apparel retailer reported yesterday.The chain reported net income from continuing operations of $526,000, or 8 cents per share, compared with $597,000, or 9 cents per share, during the corresponding period a year ago. It attributed the decline to costs of operating new stores, increased advertising to sell leftover spring inventory and becoming Y2K...
BUSINESS
By Lorraine Mirabella | June 16, 1999
With its new department store at The Mall in Columbia mostly completed and scheduled to open in September, Nordstrom Inc. is continuing an aggressive push along the East Coast.The Seattle-based retailer, which distinguishes stores with espresso bars, cafes, live piano music and shoeshine stands, will open its fourth department store in Maryland on Sept. 17 -- the latest since becoming an anchor at an expanded Annapolis Mall in 1994.The retailer known for customer service and large size assortments expanded to the East Coast just over a decade ago and entered the Baltimore-Washington market in 1991, opening in Bethesda and at Towson Town Center in 1992.
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.
NEWS
By MIKE BURNS | July 5, 1998
RECALL THOSE famous battle cries of the past: "Remember the Alamo!" or "Geronimo!" or "To the Bastille!"Add to the list a new one: "Wal-Mart!" As in the world's largest retailer chain, with about 2,400 stores in the United States alone. One's coming to a location near you, sooner or later.Perhaps it is the company's gigantic size that stirs so much public fear and opposition. Books have been written about the variety of community challenges the retailer has faced in locating new stores. The arguments range from archaeological and historical to environmental to scenic beauty.
BUSINESS
By Lorraine Mirabella | February 13, 1998
Jos. A. Bank Clothiers Inc. plans to accelerate its growth by opening twice as many new stores as it originally planned over the next three years, the men's clothing retailer said yesterday.The Hampstead-based company plans to open 65 more stores nationwide. Most will add to Bank's existing base of 87 stores in 31 states, but some will replace older stores. The expansion would accelerate the pace of 10 to 12 new stores per year that the company had previously planned."There's a greater demand for us," Timothy F. Finley, Bank chairman and chief executive officer, said yesterday.
BUSINESS
By Lorraine Mirabella | November 11, 1998
Jos. A. Bank Clothiers Inc. reported a strong profit gain of 12 cents per share for the third quarter ended Oct. 31, despite flat sales at stores open at least a year.Income from continuing operations climbed to $2.2 million, or 32 cents per share, from $500,000, or 7 cents per share, in the third quarter of 1997, the men's apparel retailer said yesterday.After backing out a one-time $1.4 million tax benefit, the company's earnings rose 71 percent, to 12 cents per share."It sounds like they had a terrific quarter," said Kenneth Gassman, a retail analyst with Richmond, Va.-based Davenport & Co., who follows the company.
BUSINESS
By Lorraine Mirabella | May 27, 1998
Jos. A. Bank Clothiers Inc. yesterday reported a sharp jump in first-quarter earnings, driven by the strong performance of its new stores and surging sales in its men's clothing line.Income from continuing operations rose 89 percent, to $828,000 for the quarter ended May 2 from $437,000 in the same period a year ago, the Hampstead-based retailer said.Operating earnings doubled to 12 cents per share in the quarter, compared with 6 cents a year earlier. The latest figure beat analysts' expectations of 8 cents per share.
BUSINESS
By Lorraine Mirabella | August 12, 1998
Jos. A. Bank Clothiers Inc. said yesterday that its second-quarter earnings more than doubled from the same period a year ago, beating analysts' estimates and giving the Hampstead-based men's retailer its best second quarter in recent years.Income from continuing operations jumped 138 percent to $597,000, or 9 cents per share, for the quarter ended Aug. 1. That compared with $251,000, or 4 cents per share, for the second quarter of 1997, Bank said.The latest figure beat analysts' average expectations of 6 cents per share.