Wednesday, February 02, 2000
INDUSTRY NOTES: RETAILING
Managers recruited at Sears
BY LISA BIANK FASIG
The Cincinnati Enquirer
Sears Roebuck & Co. is moving forward with plans to open locally operated Neighborhood Stores, smaller-scale Sears that would operate downtown or in another urban environment.
Sears spokesman Dave Albritton said a January meeting for those interested in running a store attracted about 11 people, though not all remained interested after learning about management requirements and costs.
Those who were interested took evaluation tests, which were reviewed. He said Sears is down to two or three candidates. “Our goal is to open at least one, but maybe two, in 2000,” he said.
Sears is thorough because the chosen candidate or candidates will not simply be handed a store. Sears Neighborhood Store operators must cover start-up costs of $55,000 to $100,000, plus ongoing costs. Sears provides inventory, advertising, online ordering and training. The store owner is paid commissions on product sales.
Management or business experience is desired.
Cincinnati is pegged to be one of four cities nationally to operate a Sears Neighborhood Store, introduced in Atlanta in 1998. Philadelphia and St. Louis also are targets for new stores.
The Neighborhood Stores are smaller than traditional Sears stores, at about 7,000 square feet, and are locally owned and operated. The Cincinnati store — to open in the first quarter of 2000 — would include some appliances, a mix of lawn/garden and hardware, bedding, electronics and fine jewelry.
Sears officials said a year's worth of research revealed that in almost every major metro market, there were urban areas not served by certain types of retail.
O'Farrell's in Oxford announces closing
O'Farrell's Outfitters in Oxford is closing its doors after 13 years as the father-son owners look to retirement and a new home, respectively.
Chris Henke, who founded O'Farrell's with his dad, Robert, in 1987, is preparing to move from Oxford with his wife, who is finishing up doctoral studies. The senior Henke wants to retire.
Chris Henke said the store's lease is up in May. He and his wife plan to move to wherever she chooses to work.
The owners have for about eight months been trying to find a buyer but have not yet found a suitable prospect. A closing date has not been set.
Chris Henke began managing his father's store while still a student at Miami University. Robert Henke, who had a career in retail, opened the store in Oxford, although he lives in Akron.
Tanaka opens outlet downtown for the public
Tanaka, which specializes in South African furniture and accessories, has opened downtown after four years of serving exclusively interior designers.
The store, at 1313 Main St., showcases work by South African artisans and allows them to set their own prices.
Dayton Hudson chain now officially Target
It's official. Marshall Field's is now owned by Target.
Dayton Hudson, parent of Marshall Field's department stores, officially changed its name to Target Corp. this week. The move demonstrates the success of Target, another of Dayton Hudson's chains, and that off-price retail not only has a growing percentage of the market share, it can have tremendous brand equity.
Target Corp. also owns Dayton's, Hudson's and Mervyn's.
Target has been the company's top moneymaker since 1977. The discount chain known for chic advertisements and wide aisles accounts for more than 75 percent of Dayton Hudson's revenues and profits. It is the Minneapolis-based retailer's biggest division and its fastest-growing arm.
The name change became effective Sunday.
Online store of the week
Toys, books and CDs are the hottest-selling items online. Why shouldn't the Declaration of Independence be far behind?
A copy of the first printing of America's finest document is on sale online at www.Sothebys.com. That's right, the world's oldest and most celebrated art auction house has launched its exquisite wares on the Web.
Among the treasures to be bid on are Impressionist paintings, furniture, silver, ceramics and Asian jewelry. All items are consigned by Sotheby's clients or are posted by international dealers who are “Sotheby's Internet Associates.”
The Declaration of Independence is expected to fetch $4 million to $6 million.
Taft's gift rooted in history
VP leaving P&G for seminary
Clubs make deals happen
Big Sky sold; one store closed
Roberds dismissing 7 execs
INDUSTRY NOTES: RETAILING
Price hikes called danger
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