Retailers battled through last year’s tough shopping season. Now it’s all about survival. The pullback in consumer spending has made the past six months difficult for retailers across the county, and Richmond is no exception. Negative sales. Decreased foot traffic. Slimmer margins. What can a retailer do? Some have turned to the Retail Merchants Association… Read more »
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.
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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.