|August 03, 2009||A look at Main Street's retail newsletter||no comments|
|August 03, 2009||Tourism tax revenues fall 19.6 pct||no comments|
|August 03, 2009||Hancock signs new creative partner||no comments|
|August 03, 2009||Our tour of new Cowboy Maloney's||no comments|
|August 03, 2009||Drive-by: CVS 7/31||no comments|
|August 03, 2009||Drive-by: La Quinta 7/31||no comments|
|August 03, 2009||Bigger than Black Friday? Really?||2 comments|
|August 03, 2009||What we're reading 8/3||2 comments|
|July 31, 2009||Hancock's board chairman resigns||no comments|
|July 31, 2009||Cheapest gas: Booneville 7/31||2 comments|
We got our copy of the Get Downtown 1st e-guide e-mailed to us on Saturday. Did you?
To subscribe, contact email@example.com or 662-841-6598 at the Downtown Tupelo Main Street Association. Or sign up online.
As previously reported by Biz Buzz:
The monthly e-guide, Get Downtown 1st, will be in e-mail form similar to the organization’s 2-year-old Get Downtown e-newsletter. The weekly e-newsletter has more than 1,200 subscribers, according to Megan McCarty, DTMSA’s marketing and public relations specialist.
McCarty said the e-guide will allow downtown restaurants and merchants to feature a monthly special. It will be e-mailed on the first of every month.
Tourism sales tax revenues were down nearly 19.6 percent in May compared with the previous year.
At the Tupelo Convention & Visitors Bureau monthly board meeting today, Kim Hanna, the city’s interim chief financial officer, reported collections of $219,262. The money comes from a 2 percent tax on hotels, motels and restaurants.
It’s the third straight monthly loss and the biggest one this year.
For the year, the tourism tax revenue is up 0.41 compared with last year. In fiscal year 2008, the revenue was up nearly 7.1 percent. The CVB this year based its budget on an increase of 3 percent.
Hanna said the CVB has enough reserve funds to weather the lower revenues.
For more about the meeting, read Tuesday's Daily Journal.
Excerpts (full text) from a Hancock Fabrics press release:
BALDWYN, Miss., Aug 03, 2009 (BUSINESS WIRE) -- Hancock Fabrics, Inc. (OTC symbol: HKFI) is opening a new store at 6850 US Hwy 90, Daphne, AL. The Grand Opening will be Friday, Saturday and Sunday, August 14, 15 and 16 with a M'Liss Rae Hawley guest appearance on Saturday August 15th from 11AM to 1PM.
M'Liss, an internationally known sewing expert, is the newest creative partner of Hancock Fabrics, Inc. She will display some of her famous designs, demonstrate and lecture on the finer points of sewing and be available to sign books. She will also introduce her newest exclusive Hancock Fabric collections ... A collection of M'Liss's popular books and other licensed products will also be available.
"We've admired M'Liss's work for many years and appreciate both her skill and creativity. We believe she's the perfect connection for our customers - the majority of whom are passionate and highly creative artists themselves," stated Jane Aggers, President and CEO of Hancock Fabrics, Inc.
Cowboy Maloney's Electric City has moved from Gloster Creek Village to the former Rex building on North Gloster. It opened Tuesday. We talked with manager Robert Hughes on Friday and got a tour.
The store is 12,000 square feet, about 3,000 square feet smaller than the other CM location. The new location sells just about everything that the old location did, except for car audio and the "scratch & dent" discount items.
It has 10 employees and is taking applications at the store.
Hours: Monday - Saturday 9 a.m. - 8 p.m.; Sunday 1 p.m. - 5 p.m.
Address: 3869 N. Gloster
Phone: (662) 842-1365
The big sign was going up Friday at CVS's Crosstown location. As we previously reported, CVS plans to open the store in September.
The La Quinta Inn & Suites is set to open in mid to late September, according to general manager Martha Scott. She's also the GM at neighboring Days Inn, which is owned by the same company.
The signage is up on the hotel that's replacing the Village Inn on North Gloster. Scott said they are hoping to install the floors next week.
"It's coming along very quickly," she told the Biz today.
The tax-free holiday has got retailers talking and customers shopping. But was it really "bigger than Black Friday," as our story in Sunday's Journal said?
Depends who you ask.
According to Jeff Snyder, general manager at the Mall at Barnes Crossing, it was. Yet, the downtown Tupelo merchants I talked with said it was busy last weekend, but not anywhere near as busy as it gets during the Christmas season.
I also took an informal poll of some of my friends who work at the mall. They said it was a heckuva lot of busy on Friday and Saturday, but not as busy as Black Friday weekend (Friday/Sat/Sun after Thanksgiving).
I'm hedging toward the assessment that it was busy, but it didn't beat Black Friday traffic-wise. I shopped Friday night in the mall area and Saturday in downtown and at the mall. People were out, there were lines at the registers and the lots at the mall were full, but, IMO, it wasn't as busy as the holiday season.
What do you think? Was the tax-free holiday a busier shopping weekend than Black Friday weekend?
Wow. It's already August. My calendar pic is now Eagle Falls, Emerald Bay, in Lake Tahoe, Calif. I liked last month's wildflower meadow in American Basin, Colo., better. What's on your calendar this month?
The Biz Buzz team off to a busy week again. This Sunday is the last installment of the Tasty Travels series. Can we say dessert trail? Yum. We're also putting the final touches on the August issue of the Business Journal. It comes out Friday and is about real estate and construction.
Some headlines/stories of interest today:
Daily Journal: Mueller facility to reopen Monday
Daily Journal: Free clinics seeing influx of patients, tighter resources
Daily Journal: 'Navigate Oxford' - A project of this year's Leadership Lafayette class will place distinctive 'wayfarer signage' to direct tourists
Daily Journal: Home has been a mixed blessing - my column about my one-year anniversary of home ownership
Twitter from @CFATupelo: If u are looking for FREE plans today stop by Tupelo Chick-fil-A's between 2-4pm & get a FREE MilkShake w any purchase!
From a filing with the U.S. Securities and Exchange Commission:
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Carl E. Berg, current Chairman of Hancock Fabrics, Inc. (the “Company”) Board of Directors, has notified the Company of his intent to resign from the Board and all associated committees, including the Management Compensation and Review Committee and the Corporate Governance and Nominating Committee, effective August 4, 2009. Mr. Berg is resigning his position in order to devote additional time to his numerous other business ventures. Mr. Berg has no disagreements with the Company on any matter.
The remaining Directors have elected Neil Subin to serve on the Board effective August 4, 2009, until the next annual shareholder meeting. Mr. Subin will participate on the Audit Committee and Corporate Governance and Nominating Committee of the Board. Mr. Subin served on the Equity Committee during the Company’s reorganization and periodically serves as an advisor to various investment funds which have or currently hold the Company’s securities.
Mr. Subin (44 years of age) currently serves as the President and Managing Director of Trendex Capital Management, an investment firm focusing primarily on distressed and troubled companies, a position he has held since 1989. Mr. Subin also participates on the boards of Movie Gallery, Inc., Primus Telecommunications Group, Inc., Fibertower Corp., The Leap Wireless International, Inc., Liquidating Trust, and Federal Mogul Corporation. Mr. Subin received a Bachelors degree from Brooklyn College.
Mr. Subin will receive compensation as an independent Director pursuant to the Company’s standard independent Director compensation plan.
In conjunction with Mr. Berg’s resignation and Mr. Subin’s election, current Director Steve Scheiwe has been appointed Chairman of the Board. Mr. Scheiwe has resigned his position on the Audit Committee due to his additional responsibilities as Chairman. Additionally, current Director Harry Schulman has been appointed to replace Mr. Berg on the Management Compensation and Review Committee.
Effective July 27, 2009, the Company’s Senior Vice President and Chief Merchant, Linda Gail Moore, has been reassigned to an interim position of Strategic Merchandising Special Projects. In this capacity, she will be reviewing and analyzing merchandising opportunities. The assessment of both internal and external candidates for her previous position will begin immediately.
Cheapest gas this week is in Booneville ($2.28).
A gallon of regular gas is $2.29 in Sherman, $2.29 if you are a member at Sam's, $2.35 in New Albany, $2.39 in Pontotoc and $2.30 in Fulton.
In Tupelo, it's $2.33 without discounts at Kroger at Crosstown and $2.35 elsewhere in Tupelo.
Most expensive: Oxford $2.41
Read Sunday's Business & Money section the Journal for more prices.