Retail & Shopping Centers

NEWS - Retail & Shopping Centers

SBJ Staff Report

Feb 6, 2012 – NuBarter, headquartered in Savannah, one of the Southeast’s leading bartering companies that links together small businesses to share products and services and reduce costs, will host a special event Feb 13 with a Valentine's Day theme.

Dyanne Hunter, the owner of Vashti Boutique, a new Savannah business owner, will host the event with NuBarter at her store at 5503 Waters Avenue from 5:30-7:30 pm

Vashti Boutique, located in Midtown, offers eclectic women’s & men’s accessories, including purses, jewelry, scarves and ties for men.

The evening is an opportunity to both purchase items, and network with other NuBarter members, according to Jackie Stein, NuBarter’s Savannah area manager.

Complimentary fine wine & cheese will be served, along with door prizes. Free parking is available in front of the boutique and at Chef Randall’s on 69th Street.

NEWS - Retail & Shopping Centers

By Lou Phelps, SBJ Staff

Feb 6, 2012 - Citi Trends, Inc. (NASDAQ: CTRN), headquartered in Savannah, released its 4^th quarter unaudited sales results and fiscal year end numbers last week, reporting a loss due primarily to same-store sales decreases.  The company blames late income tax refund checks for weak January numbers.

Total sales in the 13-week period ended January 28, 2012 increased 3.7% to $178.4 million compared with $172.0 million in the 13-week period ended January 29, 2011, but comparable store sales decreased 6.2% in the fourth quarter. 

By month, comparable store sales were down 10.7% in November, down 2.3% in December and down 11.2% in January.  Comparable store sales in January were up more than 3% until the last two days of the month, which were both down 40% due to a delay of one to two weeks for income tax refunds, as announced by the Internal Revenue Service.

For the year, total sales increased 2.9% to $640.8 million compared with $622.5 million in fiscal 2010.  Comparable store sales decreased 8.3% for the full year.

The Company stated that, although the year-end closing process has just begun, based on the negative fourth quarter comparable store sales results and a significantly lower gross margin, it expects to report a net loss of approximately $0.40 per diluted share for the fourth quarter.  Included in the estimated quarterly loss is the adverse impact of non-cash impairment expense totaling approximately $0.20 per diluted share.

According to Ed Anderson, Chairman and Chief Executive Officer, who has stepped back in to run the company, “While we are disappointed to report a loss for the fourth quarter, there are positives to report. Our sales trends improved significantly as we moved through the quarter, except for the impact of the shift in income tax refunds on the last two days of the quarter. We ended the year with the cleanest, best-balanced inventory in some time, preparing us well for the important first quarter. In addition, we continue to be strong financially with an excellent balance sheet, over $60 million of cash and investments, no debt and $50 million of unused capacity under our revolving line of credit.”

Many retailers nationally are awash in inventory due to weaker than projected December holiday sales.

According to Anderson, “Our company sells urban fashions, which we believe are whatever our customers tell us they are. Currently, our customers are telling us that price and fashion are important, while brands are less important. Many of the urban brands that have been important to us over the last few years do not resonate as well with our customers,” indicating a shift in buying strategies is ahead.

The Company will report complete financial results for its fourth quarter and fiscal 2011 before the market opens on March 9, 2012.

NEWS - Retail & Shopping Centers

SBJ Staff Report

Jan 30, 2012 – Citi Trends, headquartered in Savannah, announced that David Alexander resigned last week as president and CEO of the company as of January 24, and from the company’s board of directors.  The company has grown to 511 stores located in 29 states.

Ed Anderson has returned to the position of CEO at a base salary of $700,000 and an annual performance bonus opportunity of 100% of base salary, based on the achievement of certain performance targets.  Anderson served as CEO of the company from December 2001 to April 2009, during the company’s dramatic growth. Anderson also took the company public.  He will continue to serve as chairman of the Board.  In Nov. 2011, he had reassumed his position as executive chairman.

Additionally, the company announced last week that it has hired Jason Mazzola as Executive Vice President and Chief Merchandising Officer.  For the past nine months, he has been the Chief Merchandising Officer at Ideeli.  But for more than eight years, he was Senior Vice President General Merchandise Manager of the TJX Companies up until November 2009.

Mazzola also spent two years as a manager at Accenture, one of the U.S.’s leading accounting and consulting firms.

In June 2011, Citi Trends closed its Savannah distribution center, now for sale and valued at a minimum of $1.4 million, according to the company’s 3^rd Qtr. 2011 financial reports.  Their headquarters remains in Savannah.

Through 39 weeks of the company’s fiscal year, they reported an operating loss of ($8.8) million versus a $17.4 million profit through the same period in 2010. 

NEWS - Retail & Shopping Centers

SBJ Staff Report

Jan 23, 2012 - Attitude Drinks (OTC.BB: ATTD) (OTCQB: ATTD), an innovative brand beverage development company and owner of the Ready-to-Drink (RTD) real milk recovery drink, Phase III® Recovery, announced today that Sam's Mart, Inc. has authorized the sales of Phase III®.  The recovery drink will be merchandised in all Sam's Mart stores in North Carolina, South Carolina and Georgia.

Phase III® will be distributed to Sam's Mart by Choice USA Beverage, Inc. based out of Lowell, NC and Savannah Distributing Co., stationed in Savannah, GA.

According to Jack Shea, Executive VP of Sales at Attitude, "We are excited about the authorization of Phase III® in Sam's Mart. We expect to repeat the initial success of Phase III® in the Southeast as we have done in New England.  The authorization in Sam's Mart is a big step in that direction."

"Our expansion into the North Carolina, South Carolina and Georgia region represents continued brand acceptance throughout the country, a gratifying and continuously inspiring accomplishment. Sam's Mart, Choice and Savannah Distributing are perfect examples of the relationships and quality partners that keep us excited as we begin the growth of the Phase III® brand," commented Roy Warren, CEO of Attitude.

Attitude Drinks Inc. is a pure milk-based recovery drink that exploits recent scientific evidence confirming the benefits of milk and protein as an exercise recovery aid. Phase III® is sold in select local, regional and national markets, including colleges, universities, convenience stores, fitness centers and gyms, as well as online.

Sam's Mart, headquartered in Matthews, N.C., now operates a chain of 150 stores in Georgia, North Carolina and South Carolina.

Published by Savannah Business Journal.®All Copyrights Reserved ©2012. www.savannahbusinessjournal.com®

NEWS - Retail & Shopping Centers

SBJ Staff Report

Jan 16, 2012 - Herban Marketplace, Beaufort’s premier organic and natural grocer located at 1211 Newcastle St. will host a grand opening celebration this Friday, Jan. 20, 2012, from 5:30 - 7 p.m.

A ribbon cutting ceremony with The Beaufort Regional Chamber of Commerce will be held promptly at 5:30 p.m. Herban Marketplace is owned by Lowcountry native Greta Lynne, and offers a wide variety of food, personal care and home products, and aims to be a community resource for nutrition and wellness.

Members of the Herban Marketplace team are educated in organic food and standards and remain on the cutting edge of all things organic in order to help raise the community’s bar for overall health and nutrition.  The company is an official member of the Organic Trade Association.

 “It’s vital that our community – men, women and children – have access to the best nutrition and products to help them stay on the path to health and wellness,” said Lynne. “Whether your goal is to reduce the chemicals in your diet or find foods to accommodate your child’s food allergy, it’s our goal to serve our community as a resource for healthy living.”

Among Lynne’s goals for the store are educational workshops geared toward women and children, cooking classes and wellness opportunities offered in conjunction with area businesses. Herban Marketplace is a proud supporter of Louie’s Kids, a non-profit that raises funds to help treat childhood obesity.

Specialized products such as organic produce, gluten-free foods, bulk items, culinary and medicinal herbs will be offered. While the majority of her supply comes from United Natural Foods, Lynne additionally plans to reach out to local organic farms and farmers.

“The relationship people have with their food is incredibly important,” Lynne says. “Knowing where your food comes from and that it hasn’t been tainted in any way helps me sleep better at night, and I hope I can help others do the same.”

Herban Marketplace is now open seven days a week, Monday through Friday, 10 a.m. – 6 p.m. and Sunday12- 4 p.m.

NEWS - Retail & Shopping Centers

By Lou Phelps, SBJ Staff

Jan 30 – Automotive Paint & Equipment of Savannah is doing its part to protect the environment by converting its tenth body shop to PPG’s waterborne technology, according to A.P.E.’s General Manager, Lonnie Strickland, of Savannah. (pictured.)   It is an effective solution for lowering VOC emissions- improving air quality and our environment. Waterborne paint is mandatory in Europe, Canada, California and parts of the northeastern United States.

The line of paint is called Envirobase High Performance, or EHP for short, and represents the 3rd generation advancement of the innovative, waterborne technology that PPG first introduced in 1999. Though it has not yet been put into regulation in Georgia, several collision centers are leading the way in their industry by making the switch early, explained Strickland.

“After getting familiar with EHP, we are finding it to be faster, better color match, lay’s down better and is easier to blend than solvent based paint. Painters using EHP would not go back to solvent based paint,” he adds.

Ward’s Auto Paint & Bodyworks of Savannah has just become A.P.E.’s newest partner in this aspiring movement. Ward’s has three locations in Savannah, two of which have already made the conversion to waterborne technology, with the third switching soon. Another collision center using the waterborne technology is Chatham Parkway Toyota/Lexus Collision Center. Chatham Lexus converted to PPG’s waterborne system in early 2009, and has continued to remain a frontrunner in Savannah’s collision repair industry.

“The Waterborne paint system has proved to be very good for us. The Refinish technicians adjusted to it easily. The paint matching is a lot easier. We always welcome the opportunity to use a “greener” product and improve quality at the same time. We work on all makes and models including our Luxury line, Lexus. We have to provide quality repairs and refinishing on every vehicle, the waterborne paint system helps us provide that to our customers,” said Joanie Iaco, Chatham Parkway Toyota/Lexus Collision Center Manager.

Behind these conversions to waterborne technology is an experienced and trusted company, Automotive Paint & Equipment, according to Iaco. A.P.E. has five locations in Georgia, in Warner Robins, Statesboro, Savannah, Dublin, and Brunswick.

NEWS - Retail & Shopping Centers

SBJ Staff Report

Dec 12, 2011 - The Parker Companies presented a “Fueling the Community” program donation to Savannah-Chatham County Public Schools last Wednesday of $2,500.   

Parker’s offers a 1-Cent Wednesdays ‘Fueling the Community’ program at all of the company’s convenience stores where one cent of every gallon of gas purchased on the first Wednesday of the month is donated back to community schools. As a result of this initiative, Parker’s made its first donation to Savannah-Chatham County Public Schools. 

“Today, I’m delighted to make our first donation to Savannah area schools to help support education in Chatham County,” said Greg Parker, president and CEO of The Parker Companies. “This is the first of many donations we plan to make to local schools.”

To participate in Parker’s “Fueling the Community” program, individuals can sign up for a PumpPal card online at www.parkersav.com or in any one of Parker’s convenience stores. After completing the PumpPal card registration, individuals can select a school of their choice for their one cent per gallon donation. Existing PumpPal members can access their account online and select a school to receive donations.

“We’re proud to be headquartered in Savannah and to give back to the communities where we do business,” said Parker. “I believe that’s the right thing to do.”

Parker’s currently operates 25 convenience stores across the region and is opening additional stores in Chatham, Liberty, Effingham, Bulloch, Jasper and Beaufort counties.

Superintendent of Schools Thomas B. Lockamy, Jr. accepted the check on behalf of Savannah-Chatham County Public Schools.

NEWS - Retail & Shopping Centers

SBJ Staff Report

Dec 12, 2011 - Citi Trends, one of the leading value-priced retailers in the U.S. for urban fashion apparel and other top brands and accessories, headquartered in Savannah, has tried an interesting new approach to create customer interest this month.

The company launched a “Txt 2 Win” promotion where consumers have had the opportunity to win a total of $25,000 in cash and gift cards. Over 2,000 prizes will be given away during the promotion from November 28 to December 14, ending this Wednesday.

Many of the winners are “instant gift card winners,” and customers must redeem their prize at a Citi Trends store. Details on the promotion are available by texting “Txt 2 Win” code, or by visiting any of the company’s local Citi Trends.

“We’re hoping to spread some holiday cheer to our customers two ways this year. First, new lower prices throughout the store and also our “Txt 2 Win” promotion where we are giving away a total of $25,000 in cash and gift cards instantly this holiday season,” according to Susan Weiner, VP of Marketing.

Citi Trends Inc. operates 512 stores located in 29 states,  headquartered at 104 Coleman Blvd, Savannah.