PRSM Weekly
June. 24, 2011

The facilities department that innovates and integrates
Changes in the current economic and global environments have challenged facility professionals to inspect what is core to their department and organization's mission. During the PRSM Canadian Conference, a panel of industry professionals will share how they achieved major changes in their business models through proactive planning, using disciplined decision making and implementation processes to accomplish goals.

Education, Networking and a Canadian Vendor Exhibition all at the PRSM Canadian Conference coming up on July 21! Register today! We look forward to seeing you.More

Borders wins bankruptcy court approval for new loan terms, more sale time
Borders Group Inc. won court permission to loosen the terms of its bankruptcy loan, giving the U.S. bookstore chain more time to find a buyer and avoiding immediate liquidation of about 40 stores. More

Canadian malls growing in only one direction
The Globe and Mail
When American and European retailers come to Canadian malls these days, they look around at the bustling crowds and see one thing: giant profits. Our malls are hugely successful by international standards, with average sales of $680 a square foot per year.More

Whole Foods co-CEO sets goal of 1,000 US stores
Whole Foods Market Inc. expects to one day have 1,000 stores in the United States, up from around 300 currently, co-Chief Executive Walter Robb said. The upscale grocer is bullish on Canada and expects to increase its store count there from six currently to 35, Robb said.More

Sears to spin off Orchard Supply Hardware chain in IPO
Los Angeles Times
Sears Holdings Corp. plans to spin off its home improvement unit, Orchard Supply Hardware, as a separate publicly traded company, the department store giant said. The move comes amid a flurry of initial public offerings in recent months.More

Rite Aid's renovated stores
The Associated Press via Bloomberg Businessweek
Rite Aid Corp., the third-largest U.S. drugstore chain, is trying out several new store formats as it works to reinvigorate its sales. The company plans to remodel a total of 500 stores by the end of its fiscal year. It will also close 50 more locations, which would give it a total of about 4,650 stores.More

Best Buy to downsize brick-and-mortar footprint
Los Angeles Times
Best Buy Co. is the latest merchant shedding space, in an initiative that stands out in both size and scope. The giant retailer, with 1,300 stores nationwide, is launching plans to wall off parts of its cavernous stores and sublease the space to smaller retailers, such as grocers, beauty supply stores, home furnishing outlets and others. More

Retailers continue to add to expansion pipeline
Retail Traffic
In the latest update from RBC Capital Markets on retailer planned store openings, tenants continue to increase their projections for growth as measured by their 12-month and 24-month expansion targets. RBC, with data from Retail Lease Trac, compiles a monthly look at retailer demand for new space. The June edition of the report finds that retailers in its database plan to open 72,167 stores over the next 24 months. More

Bed Bath & Beyond has strong 1Q
The Associated Press via MSNBC.COM
Shares of Bed Bath and Beyond Inc. were up slightly in pre-market trading after the housewares retailer posted robust first-quarter earnings on improving demand for its goods. Shares rose 88 cents, or 1.6 percent, to $54.94 in pre-market trading. More

Staples talks bigger break rooms, smaller stores
Shares of Staples Inc. rose slightly, a down day for the markets, after its U.S. retail president told analysts about plans that include smaller stores, more tablet computers and bigger break rooms. At a Jefferies & Co. conference, Demos Parneros said Staples' new stores will be about 15,500 to 16,000 square feet, down from the current prototype of 18,000 square feet and the 2000 prototype of 24,000 square feet.More