Richmond-based men’s clothier S&K Famous Brands Inc. is hoping a quick detour into bankruptcy court can help the company fit into a new business model with fewer stores and lower overhead.
Retail
Local duo zips up distribution deal
A local husband-and-wife design team will soon have their product sold through direct-response TV and at major retailers nationwide through a licensing agreement with Massachusetts-based distributor Harvest Direct. Chris and Kat Costello, owners of Green Alley LLC, started developing the “zpr bag” in 2007. The product is a customizable handbag designed for teenage girls. Z-P-R… Read more »
State wants to close retail tax loophole
When Virginia shoppers pay the 5 percent sales tax on retail goods, most – but not all of it – goes to the state. A small percentage is kept by the business. It’s called the dealer’s discount, and it has been in place since Virginia started the sales tax more than 40 years ago. It… Read more »
New Kroger Store Opening Date Pushed Back
The opening of a Short Pump Kroger has been postponed. The Corner At Short Pump, a 47-acre retail and residential development on West Broad Street at Lauderdale Drive, will feature a high-end, 86,000 square foot Kroger store when finished. But leasing agent Thalhimer, Cushman & Wakefield says the opening date for the store will likely… Read more »
Jewelry industry analyst blasts media negativity
A Glen Allen jewelry analyst says the economy is not nearly as bad as media have made it out to be. “One or two bad months of jewelry sales and change in the financial climate in the U.S. is not going to change cultural habits of the human race,” said Ken Gassman, speaking at a… Read more »
Another healthy shot to the booze industry
Turns out booze really is recession proof. Retail sales at ABC stores statewide were up 12.3 percent in October compared to the previous year. Sales to mixed beverage licensees (bar and restaurant owners) dipped in August by 5 percent from 2007. But the numbers leapt back up to a growth of 4.5% in September and… Read more »
Coming soon: Movieland to open in Feb., hire 60
Richmond’s first new movie theater in more than three decades will open in February, if all goes according to plan. Movieland at Boulevard Square will start hiring after the holidays and will employ about 60 people, said co-owner Charley Moss. Last year, the company began renovating the old locomotive assembly plant, most recently occupied by… Read more »
Local consumers mixed about holiday shopping
In a good sign for retailers, five of the shoppers said they plan to spend the same amount as last year. But the other four said they plan to spend less. Retailers here and across the country are wondering how consumers will spend their money during the holiday season, so BizSense headed to Carytown on… Read more »
Short Pump Town Center gets a little more social
Add Short Pump Town Center to the list of businesses that want in on the social networking trend. The mall’s owners plan to launch Shoptopia.com this week as a new site aiming to direct shoppers who enjoy online shopping to local brick-and-mortar shopping centers. The site was developed by Denver-based Mallfinder Network.
You say compulsive shopping; I say retail therapy
Consumers are keeping a tighter grip on their checkbooks these days, but millions of others just can’t control themselves. Nearly 9% of adults may be compulsive buyers, according to a study conducted by University of Richmond marketing professors Nancy Ridgway and Monika Kukar-Kinney. UR professor Kent B. Monroe, also of the University of Illinois at… Read more »