October 24, 2002 |
Mattress Discounters Corp. filed for bankruptcy protection and said it would close more than 100 California stores. Mattress Discounters said it has asked a federal bankruptcy judge for approval to sell its stores in San Francisco, San Diego and Sacramento and to close more than 100 remaining stores in the state. The Upper Marlboro, Md.-based company employs more than 1,000 workers.
October 9, 2002 |
The port closure isn't hurting all businesses that depend on international trade: Through luck as much as pluck, many local garment manufacturers, off-price apparel sellers and discount stores have found ways to eke out gains. David Glasberg, president of Vernon-based U.F.N. Textile Group Inc., said that after a very slow summer his phone started ringing with orders from nervous retailers looking to quickly diversify their sources of supply. Online discount fashion seller Bluefly Inc.
July 15, 2002 |
Like the tapes and DVDs it rents, Blockbuster Inc. always seems to be living on borrowed time. Since emerging more than a decade ago as the nation's dominant video rental chain, Blockbuster has regularly shaken off apocalyptic predictions, whether they stemmed from antitrust suits or looming technology that eventually could allow people to call up any movie they want without rising from their recliners.
June 7, 2002 |
Wal-Mart Stores Inc. is launching its most serious expansion into America's major urban areas, with Los Angeles at the top of the company's list. The world's biggest retailer is in the early stages of acquiring land for a store in the city's Harbor Gateway area, a Wal-Mart executive told The Times on Thursday.
CALIFORNIA | LOCAL
May 23, 2002 |
Attempting to clean up storefronts and continue the renovation of downtown Oxnard, the City Council is prohibiting new thrift or discount stores from opening downtown and making it more difficult for such stores to open elsewhere in the city. Some store owners feel unfairly singled out, and their value-conscious customers worry that the recent council actions will make it more difficult to find a bargain.
March 30, 2002 |
For discount retailers, Colleen Aprati represents both their fondest dream and their worse nightmare. The south Orange County resident has a household income of $110,000, but she is perfectly comfortable shopping in big, boxy stores with very few frills. Discounters would love to snag customers like her. The problem is, how to keep them? "I have no loyalty, no loyalty at all," the 46-year-old stay-at-home mom said recently as she shopped at a Target in Foothill Ranch.
March 8, 2002 |
Retailers on Thursday reported their strongest sales increases in nearly two years in February, exceeding estimates and offering more evidence that an economic recovery is underway. The strong numbers, along with low inventories of unsold goods, will benefit retailers into the second half of the year, analysts said. Though discounters such as Wal-Mart Stores Inc. continued to shine, some department stores and specialty retailers continued to post sluggish results.
January 30, 2002 |
Outraged by a Los Angeles County report that 60% of retailers failed to charge customers the prices posted on shelves, the Board of Supervisors voted Tuesday to punish wayward sellers with the county's version of a scarlet letter. Written in the spirit of the county's restaurant letter grade rule, which requires eateries to post their Health Department grade, the new measure will require retailers to post notices of convictions for overcharging customers.
January 25, 2002 |
Grocery supplier Fleming Cos. and some other vendors to Kmart Corp. said Thursday that they have resumed shipments, allowing the discount retailer to restock shelves as it begins rebuilding after seeking Bankruptcy Court protection earlier in the week. Fleming, Kmart's sole grocery supplier, said it has received assurances that it will be paid today the $76 million it is owed by Kmart. Other companies that began shipping again included soft drink maker PepsiCo Inc.
CALIFORNIA | LOCAL
January 23, 2002 |
Iwould have bet money that I'd be eaten by worms before Kmart ran into trouble because other stores were selling cheaper. But now we have the news that the Blue Light discount chain has rolled over. Wal-Mart apparently lowballs Kmart on price and Target beats it on quality. I haven't figured out where Costco fits into this, but my guess is that one day we'll have just one discount chain with stores the size of Jupiter, and everyone will drive to them in Ford Excursions. I stopped going to Kmart when they brought in the Martha Stewart Everyday line because I knew in my heart that Martha would never enter a Kmart.