Macy's to close at Brookdale in Brooklyn Center
# BY WENDY ERLIEN SUN NEWSPAPERS
January 8, 2009
Macys.com Coupons
Brookdale Shopping Center is taking another hit with Thursday's announcement that Macy's plans to close its store at the mall in Brooklyn Center.
The mall lost another anchor store - Steve and Barry's - last fall when it closed due to a bankruptcy filing.
The Brookdale Center site is one of 11 Macy's stores nationwide that was classified as "underperforming" and slated for closing. The Brookdale store, which opened in 1996, has 72 employees.
Other locations to be closed are in California, Colorado, Florida, Hawaii, Indiana, Missouri, Pennsylvania and Tennessee.
"These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores," Macy's Chairman, President and Chief Executive Officer Terry Lundgren said. "While new store growth has slowed in the current economy, our long term strategy is to continue to selectively add new stores while closing those that are underperforming."
On the same day the store closings were announced, Macy's Inc. reported a 4.7 percent drop in sales for the last five weeks ending Jan. 3, compared to last year. Sales in November and December were down 7.5 percent.
Final clearance sales at the 11 closing locations, with the exception of Hawaii, will begin next week.
"The decision to close stores is difficult and often occurs when the market changes, new competing shopping centers are opened nearby to existing older ones or when customers change shopping habits," Lundgren said.
Store employees may be considered for open positions at other Macy's locations. Those who are laid off due to the closing will get severance benefits and outplacement assistance.
Barnes and Noble Bookstore and Sears currently remain as the anchor stores at Brookdale Center.
Tuesday, January 13, 2009
Macy’s in First Colony Mall not affected by store closings
Macy’s in First Colony Mall not affected by store closings
By DIANE TEZENO
1.09.09
The Macy’s store in First Colony Mall, one of the Sugar Land mall's four anchor stores, is not among the recently announced list of stores being closed by the national retailer.
According to a company press release issued on Jan. 8 by Macy’s corporate office, the retail chain is closing 11 stores in various locations across the country due to low-performance.
"These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores," Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc said in the press release.
"While new store growth has slowed in the current economy, our long-term strategy is to continue to selectively add new stores while closing those that are underperforming."
Closings will occur at the following Macy’s locations: Ernst and Young Plaza, Los Angeles, CA, The Citadel, Colorado Springs, CO, Westminster Mall, Westminster, CO, Palm Beach Mall in West Palm Beach, FL, Mauna Lani Bay Hotel, Island of Hawaii, Lafayette Square, Indianapolis, IN, Brookdale Center, Brooklyn Center, MN, Crestwood Mall, St. Louis, MO, Natrona Heights Plaza, Natrona Heights, PA and Century III Furniture and Clearance, West Mifflin, PA, Bellevue Center, Nashville, TN.
According to the press release, final clearance sales at stores, slated for closing, will begin within the next week, excluding the Hawaii location.
"The decision to close stores is difficult, and often occurs when the market changes, new competing shopping centers are opened nearby to existing older ones, or when customers change shopping habits. In the store closing process, we are committed to treating affected associates with respect and openness," Lundgren said.
Costs associated with the 11 store closings will be approximately $65 million, according to the release.
In a separate press release also issued Jan. 8, the retail store also reported a decrease of 4.7 percent in total sales ($4.397 billion) for the five weeks ended Jan. 3, 2009, compared to total sales ($4.614 billion) for the same time period last year.
By DIANE TEZENO
1.09.09
The Macy’s store in First Colony Mall, one of the Sugar Land mall's four anchor stores, is not among the recently announced list of stores being closed by the national retailer.
According to a company press release issued on Jan. 8 by Macy’s corporate office, the retail chain is closing 11 stores in various locations across the country due to low-performance.
"These closings are part of our normal-course process to prune underperforming locations each year in order to maintain a healthy portfolio of stores," Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc said in the press release.
"While new store growth has slowed in the current economy, our long-term strategy is to continue to selectively add new stores while closing those that are underperforming."
Closings will occur at the following Macy’s locations: Ernst and Young Plaza, Los Angeles, CA, The Citadel, Colorado Springs, CO, Westminster Mall, Westminster, CO, Palm Beach Mall in West Palm Beach, FL, Mauna Lani Bay Hotel, Island of Hawaii, Lafayette Square, Indianapolis, IN, Brookdale Center, Brooklyn Center, MN, Crestwood Mall, St. Louis, MO, Natrona Heights Plaza, Natrona Heights, PA and Century III Furniture and Clearance, West Mifflin, PA, Bellevue Center, Nashville, TN.
According to the press release, final clearance sales at stores, slated for closing, will begin within the next week, excluding the Hawaii location.
"The decision to close stores is difficult, and often occurs when the market changes, new competing shopping centers are opened nearby to existing older ones, or when customers change shopping habits. In the store closing process, we are committed to treating affected associates with respect and openness," Lundgren said.
Costs associated with the 11 store closings will be approximately $65 million, according to the release.
In a separate press release also issued Jan. 8, the retail store also reported a decrease of 4.7 percent in total sales ($4.397 billion) for the five weeks ended Jan. 3, 2009, compared to total sales ($4.614 billion) for the same time period last year.
Verizon Wireless buys Alltel for $5.9 billion
Verizon Wireless buys Alltel for $5.9 billion
By Trevor Anderson
January 9, 2009
Can you hear me now, Chad?
Verizon Wireless announced Friday it closed a $5.9 billion deal to acquire Alltel Corp. from Atlantis Holdings LLC.
Baskin Ridge, N.J.-based Verizon said in a news release the merger will expand its network coverage to about 290 million people, making it the largest cellular phone company in the world.
Verizon will absorb Alltel's $22 billion debt and will continue to use the Alltel brand name and operate its retail stores for the next several months while the transition is under way.
"It's a very exciting day for us," Karen Schultz, Verizon's public relations manager for its Carolinas/Tennessee Region, said in a phone interview. "We're thrilled to welcome our new team members and customers. It's going to be an exciting year for everyone."
She said as a regulatory condition of the purchase, Verizon must sell 105 overlapping markets in 24 states.
A majority of the markets sold will be from Alltel, and Verizon will divest in four markets it held before the buyout. It also plans to sell Unicel operations it owns in Minnesota and Kansas.
Verizon said it will pick up Alltel's 12.9 million customers and will have 83.7 million total customers after the divestiture.
Alltel markets covering Cherokee and Union counties were listed among those that will not be retained by Verizon.
"As a part of the regulatory requirements of the purchase, Alltel customers in those areas will not become Verizon customers," Schultz said.
She said Verizon will eventually re-brand Alltel operations in the retained markets in phases, beginning in the second quarter and continuing through the third quarter of 2009, as billing conversions are completed throughout the country.
Schultz also said Alltel customers in markets that will be retained should receive a letter within the next few weeks informing them of the purchase and of new services that will be available to them when they transition to Verizon Wireless.
"Alltel customers don't need to take any action at this time," Schulz said. "Most will be able to keep their same handsets, as Verizon and Alltel are on the same system."
Verizon said it will retain all Alltel employees below the executive level as the company assesses positions that need to be cut or be kept under the new arrangement.
The company said it expects to gain more than $9 billion in aggregate capital and operating expense savings as a result of the acquisition.
By Trevor Anderson
January 9, 2009
Can you hear me now, Chad?
Verizon Wireless announced Friday it closed a $5.9 billion deal to acquire Alltel Corp. from Atlantis Holdings LLC.
Baskin Ridge, N.J.-based Verizon said in a news release the merger will expand its network coverage to about 290 million people, making it the largest cellular phone company in the world.
Verizon will absorb Alltel's $22 billion debt and will continue to use the Alltel brand name and operate its retail stores for the next several months while the transition is under way.
"It's a very exciting day for us," Karen Schultz, Verizon's public relations manager for its Carolinas/Tennessee Region, said in a phone interview. "We're thrilled to welcome our new team members and customers. It's going to be an exciting year for everyone."
She said as a regulatory condition of the purchase, Verizon must sell 105 overlapping markets in 24 states.
A majority of the markets sold will be from Alltel, and Verizon will divest in four markets it held before the buyout. It also plans to sell Unicel operations it owns in Minnesota and Kansas.
Verizon said it will pick up Alltel's 12.9 million customers and will have 83.7 million total customers after the divestiture.
Alltel markets covering Cherokee and Union counties were listed among those that will not be retained by Verizon.
"As a part of the regulatory requirements of the purchase, Alltel customers in those areas will not become Verizon customers," Schultz said.
She said Verizon will eventually re-brand Alltel operations in the retained markets in phases, beginning in the second quarter and continuing through the third quarter of 2009, as billing conversions are completed throughout the country.
Schultz also said Alltel customers in markets that will be retained should receive a letter within the next few weeks informing them of the purchase and of new services that will be available to them when they transition to Verizon Wireless.
"Alltel customers don't need to take any action at this time," Schulz said. "Most will be able to keep their same handsets, as Verizon and Alltel are on the same system."
Verizon said it will retain all Alltel employees below the executive level as the company assesses positions that need to be cut or be kept under the new arrangement.
The company said it expects to gain more than $9 billion in aggregate capital and operating expense savings as a result of the acquisition.
Downturn has more people betting on lottery
Downturn has more people betting on lottery
In these tough times, many people appear willing to gamble a few precious dollars in the hope of winning instant deliverance from their economic woes.
By Juanita Cousins, The Associated Press
1/11/2009
NASHVILLE, Tenn. -- In these tough times, many people appear willing to gamble a few precious dollars in the hope of winning instant deliverance from their economic woes.
More than half of all states with lotteries have reported rising sales over the past six months, and some researchers say financial insecurity might be driving people to risk more of their money than usual on $1 and $5 instant scratch-offs and other daily games in hopes of a big payoff.
"Someday somebody is going to win, and I hope it is me," said Albert Atwood of Nashville, who spends $100 weekly playing the Pick 5 and Lotto Plus. "I imagine that I would be a heap better off if I saved this money, but everybody has dreams."
Driven by regulars like Atwood and a growing number of occasional players, 25 of 42 states with lotteries have experienced higher sales of scratch-off and daily lottery games since July, according to Scientific Games, a maker of scratch-offs.
In Washington, D.C., instant sales reached a record of $45 million in the 2008 fiscal year, representing an 11percent year-over-year increase.
In Tennessee, sales of instant lottery games were up $8 million during the fiscal quarter ending in October.
The Massachusetts lottery reached a record of $4.7 billion in sales during the last fiscal year, up from $4.4 billion.
Nationwide, instant and daily lottery revenues have been on the rise since 2004, according to U.S. Census Bureau data.
Some experts say economic hardships prompt people to justify small-stakes gambles even as they cut back on nonessential goods and services. Others pin the increased lottery activity on creative marketing by scratch-off makers and state governments, which cannot afford to lose this revenue at a time of tight budgets.
Some researchers see a correlation between economic difficulties and the popularity of lotteries.
"When people feel like they are behind compared to where they were yesterday, they want to make up for that," said Emily Haisley, a postdoctoral associate at the Yale School of Management who published a research paper on lotteries in The Journal of Behavioral Decision Making in July.
"They become risk-seeking in order to catch up and the small hope of winning becomes more attractive."
John L. Mikesell, a professor at Indiana University, published a study in 1994 comparing lottery sales rise and unemployment rates.
"When times are tough, the prospect of spending $1 on a remote chance to potentially change your life is appealing," Mikesell said.
Bill Cooper, a 60-year-old a from Chattanooga, Tenn., was still savoring his $500 win from a day earlier on a $1 Cash 3 pick that helped the disabled painter pay groceries, a title loan and some IOUs.
Allen Nevils, a 58-year-old moving company supervisor, put himself on a budget, driving less and purchasing groceries in bulk, but he still allots $20 a week to play daily lottery games.
"I really don't want to win that much," Nevils said. "I just want to be all right."
Atwood, a 68-year-old telephone company retiree, said he has spent at least $75,000 on lottery tickets since the Tennessee lottery began in 2000.
"I am absolutely not acting in my best economic interest," Atwood said. "But we always hope that we win big, and that is what drives us."
Many states' lottery sales are rising in recession
Many states' lottery sales are rising in recession
Associated Press - January 12, 2009 1:23 AM ET
NASHVILLE, Tenn. (AP) - Even in these uncertain economic times, many people are feeling lucky.
Scientific Games, a maker of scratch-off tickets, says 25 of 42 states with lotteries have experienced a higher sale of scratch-off and daily lottery games since July.
Some researchers say financial insecurity might be driving people to risk more of their money than usual in hopes of a big payoff. Others credit creative marketing by scratch-off makers and state governments.
States' revenues from multistate lotteries, such as MegaMillions and Powerball, have dropped. But industry officials say sales of those tickets tend to fluctuate as the value of the jackpots rise and fall.
Associated Press - January 12, 2009 1:23 AM ET
NASHVILLE, Tenn. (AP) - Even in these uncertain economic times, many people are feeling lucky.
Scientific Games, a maker of scratch-off tickets, says 25 of 42 states with lotteries have experienced a higher sale of scratch-off and daily lottery games since July.
Some researchers say financial insecurity might be driving people to risk more of their money than usual in hopes of a big payoff. Others credit creative marketing by scratch-off makers and state governments.
States' revenues from multistate lotteries, such as MegaMillions and Powerball, have dropped. But industry officials say sales of those tickets tend to fluctuate as the value of the jackpots rise and fall.
Sex offender wins $500,000 Alaska lottery
Sex offender wins $500,000 Alaska lottery
(CNN) -- An Alaska lottery held to raise money for a group that helps sexual abuse victims had a surprise winner: a convicted sex offender.
Alec Ahsoak will donate part of his winnings to charity, his attorney says.
Alec Ahsoak, who according to the state sex offender registry was convicted in 1993 and 2000 for sexual abuse of a minor, came forward Saturday with the winning ticket for the $500,000 Lucky Time Pull Tabs jackpot.
Proceeds of the lottery help Standing Together Against Rape in Anchorage, a nonprofit group that offers support to sexual assault victims among other services.
"It's not how we had envisioned the story going," Nancy Haag, the group's executive director, told CNN Radio.
Alaska has the highest per capita number of rape cases in the United States, according to FBI statistics.
"With a ranking that high, it's ironic that the person who wins is a convicted sex offender," Haag added.
Don't Miss
Ahsoak's past was first revealed by KTUU-TV in Anchorage on Sunday. His attorney, Lance Wells, did not immediately return a call Monday from CNN.
Efforts to reach lottery organizer Abe Spicola, who owns Lucky Times Pull Tabs, were unsuccessful late Monday. But Spicola told the Anchorage Daily News that Ahsoak "was going to buy a house and said he was going to donate part of it to God, and, you know, charity."
Woman wins $200,000 in lottery
Woman wins $200,000 in lottery
From Staff Reports
Jan. 13, 2009
DURHAM -- A Durham woman has won $200,000 by playing Powerball in the N.C. Education Lottery.
Lottery officials reported Monday that Lucy Hanson of Durham bought her Powerball ticket for the Nov. 15 drawing at the Kangaroo Express on Erwin Road in Dunn. She said she plans to splurge on a day at a spa, and then put the rest of her winnings in savings.
Lottery officials also reported that a Robeson County man, Khairalla Aziz of Fairmont, won $478,953, the top prize in the Dec. 26 "Carolina Cash 5" drawing when his ticket matched all five numbers drawn. He bought his winning ticket in Fairmont.
In the Saturday Powerball drawing, three North Carolina tickets matched four out of five white balls plus the Power Ball and are worth $10,000 each. These tickets were sold at Wilco on Richlands Highway in Jacksonville, Petro Express on West North Main Street in Waxhaw, and Sea Merchants Inc. on Cape Fear Boulevard in Carolina Beach.
From Staff Reports
Jan. 13, 2009
DURHAM -- A Durham woman has won $200,000 by playing Powerball in the N.C. Education Lottery.
Lottery officials reported Monday that Lucy Hanson of Durham bought her Powerball ticket for the Nov. 15 drawing at the Kangaroo Express on Erwin Road in Dunn. She said she plans to splurge on a day at a spa, and then put the rest of her winnings in savings.
Lottery officials also reported that a Robeson County man, Khairalla Aziz of Fairmont, won $478,953, the top prize in the Dec. 26 "Carolina Cash 5" drawing when his ticket matched all five numbers drawn. He bought his winning ticket in Fairmont.
In the Saturday Powerball drawing, three North Carolina tickets matched four out of five white balls plus the Power Ball and are worth $10,000 each. These tickets were sold at Wilco on Richlands Highway in Jacksonville, Petro Express on West North Main Street in Waxhaw, and Sea Merchants Inc. on Cape Fear Boulevard in Carolina Beach.
Lawmakers hope Ark. gov's address features lottery
Lawmakers hope Ark. gov's address features lottery
Monday January 12
By Jill Zeman, Associated Press Writer
Lawmakers hope Arkansas Gov. Beebe will offer guidance on lottery in state of state speech
LITTLE ROCK, Ark. (AP) -- Although Arkansas Gov. Mike Beebe is expected to use his State of the State speech to call for a decrease in the sales tax on food, many lawmakers hope the governor will also offer some guidance on how to establish a state-run lottery and scholarship program.
Beebe is to give his second State of the State address on Tuesday, the second day of the Legislature's regular session.
Sen. Steve Faris, D-Malvern, said he's looking to Beebe for direction on how to establish the lottery and that the governor still has a role in the discussion, though Beebe says he voted against the lottery measure in the November general election and has said it's not his top issue for the session.
"I'll look to him for leadership and guidance because he is the chief executive of the state," said Faris, chairman of the State Agencies and Governmental Affairs Committee, which will consider lottery legislation.
Senate President Bob Johnson said Beebe still has influence over the discussion on the lottery and the scholarships, despite the governor's opposition to the constitutional amendment authorizing the games.
"You've got to put that behind you. There have been a lot of issues here that I haven't supported, but once it becomes the will of the body to support it, then I've got to put my shoulder in and push," Johnson said. "That's what I think he'll do."
Rep. Bobby Pierce, D-Sheridan, said he's looking forward to hearing proposals on how the lottery's revenues will be distributed.
"We're all looking to see where that part of the education and the lottery come together," said Pierce, a member of the House Rules Committee, which will hear the lottery proposal.
Some of Beebe's plans are already out in the open. The governor has said repeatedly that he wants to further cut the state's sales tax on food from 3 cents to 2 cents.
"You know by my very nature that I'm pretty fiscally conservative," Beebe told reporters last week. "As a result of that, I'm very cautious about revenue estimates and forecasts. Notwithstanding all that ... based on current numbers, we can afford to cut it another penny."
The governor has also said he will ask for an increase in the cigarette tax to pay for a trauma system and other health care programs. Beebe wouldn't specify an amount, but said that a 50-cent per pack tax may not be high enough. Arkansas' current cigarette tax is 59 cents per pack.
Rep. Bryan King, the House minority leader, said how hard Beebe pushes for a cigarette tax increase could be a test of his relationship with Republicans in the Legislature. King says he expects House Republicans to back a plan to pay for the trauma system using increased fees for drunken and reckless driving convictions.
"I think this cigarette tax issue, raising taxes, will be a good telling point about where it's going to go with that," King said.
In his State of the State speech two years ago, Beebe detailed his plan to cut the state's sales tax on food from 6 cents to 3 cents. Both chambers unanimously approved that tax cut less than a month after the session started.
Also in that session, Beebe called for a $50 million fund to attract and retain new businesses; that Quick Action Closing Fund is now depleted, and the governor hopes the Legislature will replenish it this session.
Freshman Rep. Darrin Williams, D-Little Rock, said he looks forward to hearing any economic development news from the governor Tuesday.
"I'm excited about the new economic development prospects and the things that are moving to the state with the governor's quick action cash fund," Williams said. "I want to help him to keep that. I think that's very important to the state of Arkansas, so I look forward to hearing his thoughts there."
Monday January 12
By Jill Zeman, Associated Press Writer
Lawmakers hope Arkansas Gov. Beebe will offer guidance on lottery in state of state speech
LITTLE ROCK, Ark. (AP) -- Although Arkansas Gov. Mike Beebe is expected to use his State of the State speech to call for a decrease in the sales tax on food, many lawmakers hope the governor will also offer some guidance on how to establish a state-run lottery and scholarship program.
Beebe is to give his second State of the State address on Tuesday, the second day of the Legislature's regular session.
Sen. Steve Faris, D-Malvern, said he's looking to Beebe for direction on how to establish the lottery and that the governor still has a role in the discussion, though Beebe says he voted against the lottery measure in the November general election and has said it's not his top issue for the session.
"I'll look to him for leadership and guidance because he is the chief executive of the state," said Faris, chairman of the State Agencies and Governmental Affairs Committee, which will consider lottery legislation.
Senate President Bob Johnson said Beebe still has influence over the discussion on the lottery and the scholarships, despite the governor's opposition to the constitutional amendment authorizing the games.
"You've got to put that behind you. There have been a lot of issues here that I haven't supported, but once it becomes the will of the body to support it, then I've got to put my shoulder in and push," Johnson said. "That's what I think he'll do."
Rep. Bobby Pierce, D-Sheridan, said he's looking forward to hearing proposals on how the lottery's revenues will be distributed.
"We're all looking to see where that part of the education and the lottery come together," said Pierce, a member of the House Rules Committee, which will hear the lottery proposal.
Some of Beebe's plans are already out in the open. The governor has said repeatedly that he wants to further cut the state's sales tax on food from 3 cents to 2 cents.
"You know by my very nature that I'm pretty fiscally conservative," Beebe told reporters last week. "As a result of that, I'm very cautious about revenue estimates and forecasts. Notwithstanding all that ... based on current numbers, we can afford to cut it another penny."
The governor has also said he will ask for an increase in the cigarette tax to pay for a trauma system and other health care programs. Beebe wouldn't specify an amount, but said that a 50-cent per pack tax may not be high enough. Arkansas' current cigarette tax is 59 cents per pack.
Rep. Bryan King, the House minority leader, said how hard Beebe pushes for a cigarette tax increase could be a test of his relationship with Republicans in the Legislature. King says he expects House Republicans to back a plan to pay for the trauma system using increased fees for drunken and reckless driving convictions.
"I think this cigarette tax issue, raising taxes, will be a good telling point about where it's going to go with that," King said.
In his State of the State speech two years ago, Beebe detailed his plan to cut the state's sales tax on food from 6 cents to 3 cents. Both chambers unanimously approved that tax cut less than a month after the session started.
Also in that session, Beebe called for a $50 million fund to attract and retain new businesses; that Quick Action Closing Fund is now depleted, and the governor hopes the Legislature will replenish it this session.
Freshman Rep. Darrin Williams, D-Little Rock, said he looks forward to hearing any economic development news from the governor Tuesday.
"I'm excited about the new economic development prospects and the things that are moving to the state with the governor's quick action cash fund," Williams said. "I want to help him to keep that. I think that's very important to the state of Arkansas, so I look forward to hearing his thoughts there."
Subscribe to:
Posts (Atom)