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Creative Leisure News
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Date:
August 6, 2001 TABLE OF CONTENTSCOMMENTARY: "FIXING" TRADE SHOWSIt may not seem like it, but serving on the board of directors of a trade association is very hard. I know, from serving on the HIA board for six years, and it's particularly hard for ACCI board members these days.I was talking to an ACCI board member during the recent show when someone came up and said to him, "What this show needs is...." Not five minutes later another member said, "What this show needs is ...." -- and his advice was exactly the opposite of the first person. Some changes are coming in all our trade shows. You may disagree with some of them, but please, don't accuse board members of stupidity or shallow thinking. These folks are trying their best to wrestle with some very complex issues. (Note: This is a looong issue. If you want a hard copy, click on "Printer Friendly Version" and print that. The margins are better, making it easier to read, and it will save you paper.)
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ACCI RECAP: FEAST OR FAMINEThe show was feast or famine for exhibitors, although every buyer seemed pleased with the new products they found. Scrapbook and stamp companies were happy, as were more traditional vendors with strong new products, such as Martin/F. Weber (Dimensional Paper Art), and Creative Beginnings. Many traditional vendors with no new products were very disappointed.The number of exhibitors and booths was down slightly (2% and 0.2%). Attendance fell 7%, but it felt like it was more, because many attendees did not stay the entire four days. HEARD ON THE FLOOR. The strong dollar is hurting sales of U.S. products overseas, particularly in the Pacific Rim ... A manufacturer's rep probably summed up the show best: "A lot of these exhibitors are worried, and this show hasn't done much to ease their worries." STRATEGIES. Two opposite trends: With business flat, some are cutting costs, pulling in their horns, and hoping the rough times will blow over. Others (such as DMC with its new department and new Craft Thread, Duncan with its acquisitions, or Lion Brand Yarn with its numerous programs) are getting more aggressive, because history says if a company increases its market share during tough times, they'll retain that larger share when business improves. TRENDS. Some traditional retailers may think scrapbooking isn't growing as fast, or is leveling off. Instead, what seems to be happening is the new scrapbook and stamp specialty stores are siphoning off sales from more established retailers ... Beads in all forms and applications, not just for jewelry ... Some old crafts coming back in new forms, such as paint by numbers and the papier tole and metal punch looks ... An increase in more sophisticated, less cute designs ... Candle and soap making and decorating ... Cardmaking ... Clay ... More lines of licensed products; vendors think licenses are worth the often high royalties paid to the licensors. MISCELLANEOUS. The new personal die-cutter, Sizzix, by Ellison and Provo Craft was a huge success -- Sizzix.com ... Incomparable Buttons is selling attractive, hand-crafted ceramic buttons made by 46 black women from seven tribes in South Africa and distributed from an office in Massachusetts. The living wage these women receive is often the sole source of support for their families -- buttonmad.com or call 617-787-6099 ... An interesting new 15" fabric doll, Upsie Downsie, was unveiled by Design 1. It's two sided, reflecting "up" and "down" days. It was designed to help a friend handle the trauma of losing her hair during cancer treatment. Some of the proceeds go to women's cancer research. The company also produces ethnic dolls. Call 510-234-4204 or email carolsherley@hotmail.com ...1881 W. N. Wonder Co. offered 1881, a crackle medium with the color already in it, and offers two new color project sheets. Call 800-391-1524. EVENTS. The business seminars were universally praised -- an excellent cadre of speakers ... The Creating for Life auction seemed down -- lower attendance and fewer projects -- but still raised more than $23,000 ... At the panel of toy retailers, the speakers said yes, they had room for crafts, but the products needed to be packaged in boxes. An interesting, fun event was the first Iron Crafter competition sponsored by Clapper Communications. Modeled after The Iron Chef tv series on The Food Network, it consisted of giving the four well known designers a hodge-podge of craft and household supplies and 45 minutes to create a craft project. Barbara Matthiessen was the winner. AWARDS. The Scott Ladd winners: Blumenthal/Lansing, Cousin Corp., Darice, Duncan, Lotus California, ME Enterprises, Mill Store Products, Modern Store Fixture, Tara/Fredrix/HyJo Frames, The Leather Factory, Uchida of America, Woodworks, Badger Air Brush, Bucilla (div. of Plaid), and All Cooped Up Designs ... Booth awards: Single Booth, Anna Griffin; Multi Booth, Reynolds Consumer Products; Mega Booth, Crop-In-Style ... The Discovery Award went to Limited Edition Rubber Stamps. DATES. Next year's show is July 19-22. (There's talk it may be reduced to three days.) QUESTION. Probably the most positive person at ACCI was David Blumenthal of Lion Brand Yarn. Business is way up, he reports, and Lion is involved in many aggressive marketing projects. Now, is David positive and aggressive because business is up, or is business up because he's positive and aggressive?
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LAYOFFS, PT. I: JO-ANN'SJo-Ann's laid off 55 employees, including some buyers, as part of its ongoing efforts to make the company profitable in the 4th quarter.Chair/CEO Alan Rosskamm said the cuts "were a necessary step for our company in light of the reduced capital initiatives we anticipate. We believe we are now appropriately sized for the next several years." The layoffs are part of an overall strategy which includes clearing out $60 million worth of merchandise; closing stores (26 were announced recently, we were told); temporarily canceling new store openings; working the bugs out of the new software system; and integrating the new California warehouse. Rosskamm added, "We are making significant progress on the initiatives ... [but] our efforts will not translate into improved operating performance until the fourth quarter." (NOTE: Wall Street apparently is not worried; Jo-Ann's stock has shown very little change (see "CLN's Retail Index") since the cuts were announced. Also, we've asked Alan Rosskamm to send us a list of the reorganized buying department, which we'll publish here.)
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LAYOFFS, PT. II: WAL-MARTWal-Mart laid off 100 employees in Bentonville and eliminated 300 positions that were unfilled. It isn't clear if any of those employees had any direct responsibility in the craft/sewing areas.Sales are strong, but margins have shrunk. Spokesman Tom Williams told the Associated Press "We always pay attention to the business. Now, we're really paying attention." The discounter also reshuffled many of its execs in top management. Those who will affect our industry include Don Harris, now Exec. VP/General Merchandise for the Stores division, and Jim Haworth, now Exec. VP/COO of Store Operations.
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WANG, MCDONALD ON THE COMEBACK TRAILTwo of the industry's most successful entrepreneurs had fallen on hard times recently, but down does not mean out in their cases.Robert Wang started by selling macrame cord out of the trunk of his car and built a $100+ million import company, Wang's. He was thrust into bankruptcy when the new computer system didn't, uh, compute. But Robert is back. At ACCI he exhibited a strong, more focused line of readymade home dec items and "tweener" jewelry and beads by his new company, Creative Co-Op. John McDonald, with Dave Cunningham, helped make Plaid one of the industry's major vendors. Since then he was in the process of building Back Street into an industry heavyweight when too much growth caused a disastrous cash flow problem. Now John is back, too. Back Street has sold its Chunky Stamp line to Duncan, the Anita's paint lines to Synta Inc., and the rubber stamp line to John's newly formed company, Sugarloaf Products, which is a partnership of John, Bob Misterka of Demis, and others. Those sales allowed Back Street to pay all its debt, and Sugarloaf will concentrate on its extensive rubber stamp line. Sugarloaf Products Inc., PO Box 348, Lithonia GA 30058. 770-484-0722; fax: 770-484-0733 ... Creative Co-Op, 5445 E. Raines Rd. Stes. 7-9, Memphis, TN 38115. 901-365-8449; fax 901-375-3038.
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MEMORY MAKERS SOLD TO F&W PUBLICATIONSF&W Publications has acquired the Denver-based Satellite Publishing, publisher of some memory-related books and Memory Makers magazine, one of the industry's leading scrapbook magazines.Memory Makers is a bimonthly magazine with a circulation of more than 210,000 ("pass-along" readership is 500,000+) with a rise of 10% in subscriptions this year. The website is www.memorymakersmagazine.com. "[The acquisition] will allow the Memory Makers' brand to be fully expanded, with more diverse product and program offerings, on a greatly accelerated time table," said Ron Gerbrandt. F&W Publications, a special interest publisher of books and magazines, was acquired by an affiliate of Citicorp Venture Capital in late 1999. Among its titles are The Artist's Magazine, Watercolor Magic, Popular Woodworking, Decorative Artist's Workbook, and Personal Journaling. Its North Light book division publishes industry-related instruction books. The website is www.fwpublications.com. Memory Makers will remain in Denver, managed by its current executive staff: Michele Gerbrandt, founding editor; Ron Gerbrandt, co-founder and creative director; Debbie Mock, editor; Christopher Howley, director of circulation and marketing; and Megan Bennett, ad sales manager. Memory Makers is the second major scrapbook magazine to be sold in recent months. Earlier this year Creating Keepsakes was sold to Primedia.
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WYLY REPLACES WYLY AT MICHAELSSam Wyly has stepped down as board chair and become vice chair of the Michaels board of directors. The new chair is his brother, Charles. Sam resigned as chair to devote more time to his investment firm's proxy fight to replace the board of Computer Associates Int., which is evolving into a messy court fight. CA is the world's fourth largest software company.Sam Wyly sold his computer company, Sterling Software, to CA last year, and since then has said CA had "abused" customers and employees. CA sued him in June, and last week Wyly countersued. Wyly, a billionaire, told the Ft. Worth Star-Telegram he plans to spend about $10 million in his effort to take over CA's board. Sam and Charles came to George W. Bush's rescue during the presidential primary season by spearheading an anti-John McCain ad campaign when McCain was gaining momentum. Michaels also announced changes a spokesperson says are designed to "further enhance accountability to shareholders." The changes include a) expanding its board to seven, including two new independent directors; b) creating a new governance and nominating Committee, chaired by an independent board member; and c) disbanding the board's executive committee. The search for the new directors will begin after the annual meeting October 5th. This expansion makes five of the seven directors independent of Sam and Charles. "The changes [at Michaels] may also boost Sam Wyly's credibility as an advocate of good corporate governance," wrote Dow Jones News. Besides the Wyly brothers, current board members include Richard C. Marcus, former Chair/CEO of Neiman Marcus; Richard Hanlon, Sr. VP of Investor Relations for AOL/Time Warner; and Elizabeth VanStory, an independent management consultant.
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CHANGES AT MJDESIGNSMichael Best has stepped down as CEO of MJDesigns, replaced by David Eisenberg. Best remains as President and CFO. Eisenberg was the former President of Peoples Drug Stores, an 850-store chain sold to The Melville Corp./CVS in 1991, and CEO at Chief Auto Parts, a 560-store chain sold to AutoZone in 1998.The company also announced it closed on a new credit facility. PNC Bank Business Credit provided the new financing, which will allow the MJDesigns to continue to grow, a press release said. The company operates 10 stores in the Dallas/Ft. Worth area. The company will also be moving into new corporate offices (9001 Sterling St. in Irving) in early September.
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PROMOTIONS BUYS HERR'SPromotions Unlimited, which owns the Ben Franklin franchise operation, has acquire Herr's, the longtime craft distributor in Danville, Illinois.Promotions' Michael Greenberg told us, "We're committed to the customers, the management team, the employees, and the community of Danville, and are very excited about the opportunities for growth in the craft industry." One Promotions official told us, "Now we have all the pieces of the puzzle. With Herr's now we can really begin to promote the advantages of a Ben Franklin franchise because we have the promotional goods and the everyday craft supplies." Herr's is a pioneer craft distributor. Promotions Unlimited entered the craft industry a few years ago when it purchased the rights to the Ben Franklin name (and the rights to franchise it) from the bankruptcy court. Herr's customers will not notice any differences, Greenberg said. Phone numbers and the order process remain the same.
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A.C. MOORE BEATS FORECASTSThe net loss for the second quarter ended June 30 was $232,000 ($0.03/share), better than forecasted. Overall sales grew 22% to $55.2 million and same-store sales rose 4%.For the first six months of the fiscal year, sales are up 24% to $133.6 million, same-store sales are up 4%, and the net loss is $294,000 ($0.04/share). CEO Jack Parker said, "Merchandise categories that have been reset helped drive the business during the quarter. In addition, we relocated the Bensalem, PA, store to a larger facility and opened two stores, one in Raleigh, NC, and one in Clarksburg, WV. Company predictions for the year: Earnings/share will be $1.08-$1.10 for the year ... Margins before pre-opening expenses should increase 35-45 basis points ... Same store sales should increase 4-5% ... Overall sales should grow 23%-25%. Since the end of the quarter, the company opened a store in Greenville, SC and now operates 56 stores and plans to open another five this fiscal year. The stock is currently trading at $17.75, up about 117% for the year.
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RANDOM NOTES, RANDOM THOUGHTS1. If you raised your eyebrows at HIA's new size of industry figure, $23 billion, remember the basic number of a baseline study is relatively meaningless. The key now becomes HIA's responsibility to repeat the Study and analyze the results in a consistent manner. Then the next Study can be helpful when you compare it to the first Study (painting up or down, needlework up or down, etc.).2. Don't be surprised when you hear of a one-magazine publisher selling to a larger one; it's becoming common in consumer magazine publishing. It is increasingly difficult for small publishers to have any "pull" with magazine distributors who determine which magazines go on which newsstands. Publishers with multiple titles such as F&W can probably get Memory Makers on more newsstands. In other words, scrapbook magazines being sold is not a sign that scrapbooking is in decline. 3. We heard gloomy reports from the International Needlework Retailers Guild show in Charlotte. Not that long ago, that was a huge, bustling show. Now...? There had been talk of companies forming a group similar to the Craft Yarn Council of America to promote needlework. The group couldn't get organized earlier, but in light of the INRG show, maybe they should try again. 4. I had a fascinating talk with Bill Mangelsen of Greensward about China. You get a completely different perspective on China from someone who has lived in Hong Kong on and off for decades than you do from the U.S. press. Bill, one of the industry's pioneers, recommends the China Daily (an English language newspaper of China) at www.chinadaily.com.cn. Greensward does custom manufacturing, packaging, and printing, plus sourcing in China and other services, for companies in the U.S. and around the world. Visit greensward.com.hk; email info@greensward.com.hk or call 852-2541-7234.
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COPYRIGHT COMMITTEE TO TAKE ACTIONAs we've reported, many publishers, retailers, and designers have had their income cut, sometimes drastically, by consumers unlawfully posting copyrighted designs, projects, and even books on the Internet for the world to download.An ad hoc committee was formed under the leadership of Jim Hedgepath of Pegasus Originals and published A Celebration of Stitching, a wonderful collection of charts and projects donated by the industry's top designers. The book was published at no profit by Krause Publications and is available for sale in stores. The committee met at the INRG show and here's Jim's report: "The meeting on copyright issues went well, and we are going forward with looking into the best way to proceed with prosecution of the worst offenders. We are going to contact others who have had success at this to get some pointers, then contact some law firms to begin a selection process to choose a firm. "The fund now has nearly $20,000.00 with the addition of the check from Krause for over $13,000. With 5,000 books left to sell and the printing paid for, I am feeling very good about our ability to make an impact on this problem. "We also decided to produce a sign for shops to post in their stores to educate customers and make a statement about copyright laws. This will be something shops can direct their customers to who ask for copies to be made from books. "We will also be producing a written document which will educate businesses on how to fight the problem and help them understand the law."
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HOW TO HAVE A SUCCESSFUL SHOWCari Clement of Bond America has some sound advice for vendors on having a good show:"We were non-stop busy and secured a number of new accounts and two large distributors. The best ACCI yet. "It seems that those exhibitors who complained about slow business should re-examine their booth set-up and presentation. If an exhibitor just hangs up its product without showing anything in the way of application or demonstration, and he or she doesn't have anything new or different, the show won't work. "Every trade show is an opportunity to show a manufacturer's growth and excitement by presenting new products. Unfortunately, new products are usually relegated to the HIA show, but just a new publication or a new device can be sufficient. We had two new pattern books and a video and that was enough. "Also, the demonstration factor weighs heavily on the impact an exhibitor makes -- without make-it/take-its (which clog a booth and mostly cater to non-storeowners). "Without our constantly demonstrating (we hired someone to do nothing else all day), the show would not have anywhere near the impact it did. Ours is a demonstrable industry, so the decision to demonstrate product is really a no-brainer."
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MISCELLANEOUS NEWSINRG. Reports from INRG indicate many exhibitors were disappointed with the crowd, a fraction of what it was a few years ago. Some buyers were disappointed, too. Hobby Lobby's Barbara Young made the show worthwhile for some vendors. There was talk the organization should begin merger talks with TNNA, but reportedly the INRG board is against it.AWARDS, I. The winners of the third annual DMC needlework awards were announced at the INRG show: Needlework Designer of the Year: Donna Vermillion Giampa of The Vermillion Stitchery ... First Runner Up: Lois Winston ... Second Runner Up: Jennifer Aikman-Smith of Dragon Dreams ... Needlework Teacher of the Year: Marilyn Vredevelt ... First Runner Up: Susan Greening Davis. AWARDS, II. Winners of this year's book awards presented by the Charted Designers of America at the recent INRG show: Best Book -- Painted Ponies by Cross My Heart ... Best Single Charted Design -- Wild Menagerie by Cross My Heart ... Publishers Award -- Fabulous Firsts by Cross My Heart ... Best Charted Embroidery Publication -- Seasons Of Love by Janice Love ... Best Overall Publication in any category -- Seasons Of Love by Janice Love ... Peoples Choice Award -- Wild Menagerie by Cross My Heart ... The Special Recognition Award went to B.J. McDonald, editor of The Cross Stitcher magazine published by Clapper Communications. CONDOLENCES. Retailer Ken Griffin passed away after a year-long battle with cancer. He leaves his wife, Barbara, and an 11 year-old daughter, Monica. Ken was a Ben Franklin exec for many years, then owned the four BF craft stores. Later he opened an upscale home dec/gift store in Florida. "He was an inspiration to all of us who worked with him," said Ken's former colleague, Casey Casebolt of Gerson, "always sharing a laugh which sounded like it started at the end of his toenails and reverberated all the way up! He loved to laugh -- and that is the way I shall always remember him. The industry has lost a great human being." BACK TO SCHOOL. Parents plan to spend 4% less on back-to-school clothes and items, despite the tax rebate checks coming from the government, according to a survey by Amercian Express. KIDS. The PBS series, Hands On Crafts For Kids, is now available to more than 57 million households in 115 markets, and on the FamilyNet network on Thursdays at 2:30 pm and Saturdays at 10 am. The website, craftsforkids.com, receives almost 1.5 million hits/month, and the new book, Camp Hands On and the series are featured in 22 states as part of the elementary school curriculum. For more, call Kathie Stull at 800-348-3909. MARTHA. Her new magazine, Martha Stewart Kids, will include "creative projects" for parents -- and children primarily between the ages of 3-10, a press release said. The first issue of this twice-a-year magazine will feature beaded jewelry and other accessories. CHAPTER 11. Although Diamond has filed for bankruptcy, it is business as usual for its craft division, Forster, reports Tim Bailey, National Sales Manager. COLLEGE. TNNA awarded $1,000 college scholarships to two sons of TNNA members in honor of TNNA's first president, Irving Nacht, and as part of its ongoing "TNNA Memorial Scholarship Fund" to appropriately memorialize additional TNNA members and notable needleart professionals. LOOKING. Linda Kessel Roovers, former editor of Arts & Crafts and 1001 Home Decorating Ideas, is available for freelance writing and editing and/or a telecommuting position related to crafts and/or home dec publications. Call 715-445-5225 or email writer25@athenet.net ... Ann Donnelly is an industry pro with a strong background in international sales. She's bi-lingual and knows the European the South American markets intimately. Call 603-765-2138. BASKETBALL. Former Notre Dame coach and ESPN analyst Digger Phelps is a painter. He painted and worked as a marketing assistant for FM Brush in the company's booth at the recent NAMTA show. Said Phelps, "From the mind to the canvas is the most genuine expression of inner feelings. Painting for me is a spontaneous overflow of emotion." Phelps has been receiving instruction from the well known industry personality Shar Sosh. WARNING. A cross stitch designer/publisher was doing nicely selling her charts from her website. Then she forgot to renew her URL registration. Next thing she knew, her web address had become a porn site and she was "invited" to buy back her address. STOCK. Wedbush Morgan initiated coverage of A.C.Moore at Buy. FUNDING. AMES signed its agreement with Kimco Funding for an additional $75 million. Kimco Funding is an affiliate of Kimco Realty a real estate investment trust specializing in retail real estate, development, and management. STORES. Wal-Mart said it is on its schedule to open, expand, or relocate about 300 U.S. Wal-Mart stores and Sam's Clubs this year. That would be about 40 million sq. ft., a 9% increase in the company's retail space. ACQUISITION. Dow Chemical purchased the assets of the Celotex Corp.'s rigid foam business. It's not known if that will immediately mean new products for the craft industry, but we've learned Dow is very pleased with the craft sales of its Styrofoam brand plastic foam (via fabricators such as FloraCraft), so anything is possible. CLARIFICATION. In earlier announcements, HIA officials said the public relations efforts regarding the "Crafts. Discover Life's Little Pleasures" branding campaign as part of National Craft Month in March reached one billion consumers. That's more than triple the population of the U.S. In fact it was one billion consumer impressions, not people. (For example, someone in Cleveland sees it mentioned on the local tv news, then reads about it in the paper; that's two impressions, one person.) PROMOTIONS. HIA's Celebrate America with Crafts promotion in June generated 21 million consumer impressions, officials said. It culminated with a one-day event on June 30th and Michaels officials reported that day's customer count increased 333% over a year ago. Some participating independents reported good results, too. The next promotion is Celebrate the Season, September 16-29. For info, call 201-794-1133. PEOPLE. Richie Marks and Jack Schnitt joined FloraCraft as independent Business Development Managers. Marks and Schnitt were the former owners of Modern Miltex until selling the company to Syndicate Sales in 1999. They will also have sales and marketing responsibilities in the Northeast, operating from their offices in the New York City area ... Thomas Barnes joined Janlynn as Manager of Purchasing. He formerly worked in a similar position at LEGO ... Mary Leahy will become Marketing Manager for Fairfield Processing effective September 4, replacing Mary Beth Mason who is leaving to spend more time with her family. Leahy had worked at The Country Quilter, a retail store in Somers, NY, and at VIP Fabrics. She is a designer, quilter, and graphic designer. PEOPLE, II. Key personnel changes at Walnut Hollow: Midge Baudouin, VP/Sales & Marketing; Carol Graf, Sales Director; Chris Wallace, Marketing Director; Michelle Faherty (formerly at Back Street), Key Accounts Manager; Pamela Hawkins, Education/Media/Design Manager; Kelly Holguin (formerly at Duncan), Key Accounts Manager/Sales. SCD. The Society of Craft Designers' 2001 education seminar is September 5-8 in Phoenix. A key speaker will be one of the industry's top product developers, Peter Russo, speaking on "Product Development: Science or Art?" and "Creative Communications: Manufacturing Meets Design." The preregistration deadline has been extended to August 15. For info, write to PO Box 3388, Zanesville, OH 43702-3388; call 740-452-4241; fax 740-452-2552; or email scd@offinger.com> MEDIA. MyFree.com and Craft Home and Style announced an agreement whereby beginning August 13th, Aleene Jackson, Tiffany Windsor, and other Craft, Home and Style editors will contribute craft projects, tips and more to MyFree's two free craft e-magazines which will carry the Craft Home and Style name. The daily craft e-magazine has 117,900 subscribers, officials say, and the weekly has 205,600 subscribers. MyFree.com will also heavily promote the new Craft, Home, and Style tv series and offer reader submitted content for use in broadcast and print produced by Craft, Home, and Style. The President of MyFree.com is Stuart Hochwert, former ad director for Clapper Communications. Craft Home and Style is a monthly magazine and continuity club and web site. The Craft Home and Style weekly tv series is aired on Fridays on the Hallmark (formally Odyssey) channel. The organizations' websites are MyFree.com and CraftHomeandStyle.com. PAINTING. Upcoming schedule for the Society of Decorative Painters' annual shows/conventions: Charlotte, May 13-19, 2002 ... Indianapolis, June 9-15, 2003 ... Phoenix, May 24-29, 2004. SDP has 27,000-plus members in 296 affiliated chapters in 49 countries. Visit www.decorativepainters.org or call 316-269-9300. E-COMMERCE. Both Wal-Mart and Kmart have bought out their minority partners in their respective e-commerce sites. The sites continue, but it's probably yet more evidence that companies with big, expensive e-commerce sites have not yet figured out a profitable formula.
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THE CREATIVE NETWORK: JOB OPENINGSTo see a sampling of the current job openings and to contact The Creative Network, click on the "Jobs" button in the left hand column.
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THE CLN RETAIL INDEXA. C. Moore (ACMR). Last*: 17.75 ... Change**: +2.25Ames (AMES). Last*: 1.16 ... Change**: -0.11 Hancock Fabrics (HKF). Last*: 10.05 ... Change**: -0.49 Jo-Ann Stores (JAS.A) [a]. Last*: 4.50 ... Change**: -0.11 Michaels (MIKE). Last*: 41.81 ... Change**: -0.21 Rag Shops (RAGS). Last*: 2.61 ... Change**: -.04 Wal-Mart (WMT). Last*: 55.39 ... Change**: +2.49 CLN Retail Index. Last*: 130.90 ... Change**: +3.0% Dow Jones Index. Last*: 10,512.70 ... Change**: -0.2% *August 3 ** from July 13 [a] voting share Note: Prices are exclusive of dividends.
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ONE TOO MANY TRADE SHOWSAs usual, Chicago was devilishly hot for the ACCI show. A few ACCI's ago, when the weather was equally hot and oppressive, one of the air conditioning units in the ceiling of the convention center malfunctioned and water began pouring down upon one unfortunate booth.Moral of the story: You know you've gone to one too many trade shows when it starts raining on your booth -- indoors.
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REMINDERS1. Paid subscribers are invited to have their website evaluated by Lynn Carlisle of Carlisle Communications. She'll check the site and provide a confidential assessment and suggestions for improvement. Just email mike@clnonline.com or ljc@carlislecommunications.com.2. If you want a hard-copy of this issue, click on "Printer Friendly version". 3. If your company is a paid subscriber, everyone in the main office is welcome to register, free. 4. If you want to recommend CLN to a friend, use the "Tell Your Friends" box on the home page. 5. Creative Leisure News is published on the first and third Mondays of each month. Your next issue will be Monday, August 20th.
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