BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,SUN STAFF | December 7, 1995
Target Stores, the nation's third-largest discount chain, yesterday announced details of its plans to steamroll into the Mid-Atlantic region in 1996 with 24 stores, creating an estimated 3,600 jobs and nearly $5 million annually in direct economic impact.The Minneapolis-based retailer will open 13 stores in Maryland and 11 stores in Virginia next year. The first nine Maryland stores will open in July in Germantown, Bowie, Bel Air, Glen Burnie, Largo, Laurel, Waldorf, Westminster and White Marsh.
NEWS
By Hanah Cho and Hanah Cho,Sun reporter | September 8, 2006
Crown, a name long synonymous with gasoline in Baltimore, is fading away in Maryland. Two years after Crown Central Petroleum Corp. sold more than 150 gas stations and convenience stores in Maryland and Virginia, the buyer has decided to convert most of them to Chevron, Texaco or Shell stations. The move comes as dealers see national brands as a way to attract consumers with oil company credit card points and other loyalty programs in a highly competitive market. The Crown name will remain on a few stations in the Baltimore region where there are brand conflicts, said David Noland, vice president of Petroleum Marketing Group of Millersville, which owns the outlets in Maryland and Virginia.
BUSINESS
January 17, 1995
Acquisition waiting period endsRite Aid Corp. said yesterday the waiting period under antitrust laws for its acquisition of Perry Drug Stores Inc. for about $132 million expired Friday.Perry, based in Pontiac, Mich., is the largest drugstore chain in Michigan and has 224 stores with annual revenue of about $735 million.The acquisition gives Camp Hill, Pa.-based Rite Aid access to the Midwest drug market. Rite Aid currently operates 2,600 stores in 23 Eastern states, including more than 150 drug stores in Maryland, and the District of Columbia.
NEWS
By Matt Ebnet and Matt Ebnet,Sun Staff Writer | September 1, 1994
Stepping into the electronic superstore fight between Circuit City and Luskin's, Minneapolis-based Best Buy Co. will open four warehouse-style stores in Maryland this fall, two of them in Howard County.Best Buy, the nation's No. 3 consumer electronics chain, will open two stores about eight miles apart in Columbia and Laurel, hoping to capitalize on what analysts say is one of the wealthiest counties in the United States."We'd like to open six more in that area right now, but the real estate just hasn't come through yet," George Fouts, senior vice president of the company, said.
NEWS
By Gadi Dechter and Gadi Dechter,gadi.dechter@baltsun.com | October 14, 2008
Comptroller Peter Franchot announced yesterday Maryland's first successful attempt at closing a real estate-related "tax-avoidance scheme," which yielded $10.8 million in back taxes. The amount represents three years' worth of taxes from a "major corporation" that was not identified because of tax confidentiality laws. Tax collectors have several other related audits under way and have determined that another company owes $5.7 million for using the same practice, officials said. Under the scheme, a company with stores in Maryland establishes a real estate investment trust to which its stores pay rent.
BUSINESS
By Ellen James Martin and Ellen James Martin,SUN STAFF | November 17, 1995
Thirteen Maryland F&M Super Drug Stores will close within three months as part of the liquidation of the entire F&M chain, the company's chief financial officer, Laura Kendall, said yesterday.The closures will mean about 390 layoffs and major liquidation sales, Ms. Kendall said.Five other F&M stores in Maryland -- which have been sold to the Drug Emporium chain -- will operate without interruption and are expected to continue using the F&M name for an indefinite period, said Timothy C. McCord, chief financial officer of Powell, Ohio-based Drug Emporium Inc.Customers at all five of the Maryland F&M stores can expect to see lower prices under the new ownership, Mr. McCord said, noting that prices should fall 5 percent to 10 percent.