Sales up by 10 percent at TJX Companies
FRAMINGHAM, MA — The TJX Companies report that October sales were $713 million – up 10 percent over the $651 million achieved during the same period in 1998.
The Framingham-based TJX operates T.J. Maxx, Marshalls, HomeGoods and Winners retail stores.
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Newport business spreading holiday cheer
NEWPORT – Retailer Angela Moore is planning a two-week fund-raiser at the beginning of next month to benefit a local animal shelter, the Robert Potter League for Animals.
Moore will decorate a Christmas “Adoption” tree in her shop with photographs of kittens and puppies that are looking for a new home this Christmas. Adoption of the animals can be arranged by taking the photograph to the Potter League. The shop will also donate 10 percent of the proceeds on the sales of selected items from its Venetian jewelry collection to the shelter.
Staples to open at Wakefield Mall
SOUTH KINGSTOWN – Staples is scheduled to open a store at the Wakefield Mall early in 2000. The store is expected to occupy the 17,000-square-foot space left vacant when NHD Hardware went out of business earlier this year. Staples hopes to capitalize on business from area merchants and professionals, as well as students and faculty at the University of Rhode Island. The store is expected to employ about 40 workers.
Ross-Simons web site shattering records
CRANSTON – Internet sales are soaring at Ross-Simons. Darrell Ross, the company’s president, reports those Internet sales of fine jewelry; tableware, home furnishings and decorative accessories have jumped by 500 percent year-to-date. Sales generated through the two-and-half-year-old web site ( http://www.ross-simons.com) reached a record $281,000 during the first week of November. Annual Internet sales are expected to reach $10 million in 1999. Overall web sales, according to Ross, have increased by 795 percent over the same period last year.
“There are thousands of visitors to our site from all over the world, including Japan, United Kingdom, Australia, Hong Kong, Denmark, New Zealand, Singapore and Saudi Arabia,” said Ross. “The web has opened up a powerful global potential for usimpossible to achieve any other way.”
Cracker Barrel opens first Rhode Island store
COVENTRY – The Cracker Barrel Old Country Store will debut in Coventry today (Nov. 22). Located at 825 Centre of New England Boulevard, the store – complete with a working cobblestone fireplace – will serve breakfast, lunch and dinner and feature gifts and collectibles, as well as jams and spreads.
“We’re thrilled to introduce Cracker Barrel’s good country cookin’ to the state of Rhode Island,” said General Manager Cindy Jansen.
The Coventry operation is Cracker Barrel’s first in Rhode Island and fourth in New England. There are currently stores in Connecticut and Massachusetts, in addition to New York.
Cracker Barrel Old Country Store is a wholly owned subsidiary of CBRL Group, Inc., a publicly held company listed on NASDAQ.
Telephone monopolies a roadblock
WASHINGTON, DC – A study by the “Small Business Survival Committee” on the effects of local telephone competition and the Telecommunications Act of 1996 on America’s small business community cites delays in basic and enhanced service, a “stealth” tax on long distance calls, and barriers to the evolving e-commerce industry as roadblocks for the future of America’s small businesses.
“Even after the promises of the Telecommunications Act of 1996, the local telephone industry remains one of the most anti-competitive industries in America,” said Karen Kerrigan, of the SBSC.
Wal-Mart declares dividend
BENTONVILLE, ARK — The Board of Directors of Wal-Mart Stores, Inc., declared a quarterly cash dividend on the common stock of five cents ($.05) per share, payable January 10, 2000, to shareholders of record on December 17, 1999. The retail giant also reports that net sales for the four week period ended Oct. 29, 1999 were $13,002,000,000 – a 25 percent increase over the same period last year.
Fidelity Investments expands to mall
PROVIDENCE, RI – Fidelity Investments on Nov. 16 officially opened its Investor Center, at Providence Place. The 4,500-square-foot branch will be open Monday through Friday from 9 a.m. to 5:30 p.m. and Saturdays from 9 a.m. until noon. Internet-based workstations on site will allow customers to pull up stock quotes, research investments, make stock trades and review their accounts.
Macy’s Thanksgiving Day Parade — online
NEW YORK, NY – Macys.Com has updated its home page in preparation for what is expected to be dramatically increased Internet shopping, and has included a link to the annual Macy’s Thanksgiving Day Parade. Historic information, audio clips and data on parade participants can be found at macyparade.com.
