COMMENTARY: We Are All
Connected
Two companies making a deal between themselves can cause a ripple
effect that goes far beyond them. Two years ago, a major vendor took
lots of orders from independents at the CHA winter show. Then
the company received a huge chain order. The chain's order was
filled first as the independents waited.... and waited. By the time
the independents received their orders and paid for them, the CHA
summer show was upon them. So the shop attendees didn't have much
open-to-buy, which hurt some summer show exhibitors who had nothing
to do with the original deal.
Now HDA is going to distribute books and magazines in Michaels;
why should anyone else care? Consider: A) Some publishers
might not agree with the new terms; now competitors of Michaels
could sell books that are no longer carried by Michaels. B) Some
publishers have considered raising their prices on future books so
that selling them to Michaels through HDA would be more profitable.
But those prices would be higher for everyone else, too. C). Other
distributors might demand the same, allegedly better, terms HDA is
receiving.
NEW COLUMNS THIS ISSUE
"Benny
Da Buyer". The original newsbriefs that were emailed to
subscribers since the previous issue – quarterly reports from Michaels
and Jo-Ann's, the facts/rumors regarding Michaels book
distribution deal with HDA, and Jo-Ann CEO responding to
rumors of a takeover by investment companies.
Business-Wise.
Why trends eventually cool. This specific instance is about
yarn, but it could be scrapbooking or anything else, too.
Scene
& Heard. News and trends from the NAMTA and New York
Stationery shows, Quilt Market, and Bead Expo.
TAKE THE CLN POLL:
HEALTH INSURANCE & YOU
Does your company offer it? Who pays for what? Is it a serious
issue for your company? To vote, visit click on Industry Polls in
the right-hand column or click HERE.
CLN
POLL: PRESIDENT BUSH
AND CONGRESS
CLN subscribers did not think much of President Bush or
Congress when we polled them last July. Now they think even less of
them. More than half, 52.3% rate President Bush's handling of the
war in Iraq as "Terrible" and 12.8% think he's done a
"Poor" job. Last July those percentages were 43.9% and
10.6%. Only 4.7% think he's doing an "Outstanding" job,
compared to 13.6% 11 months ago.
(Comment: To read reports on daily life in Iraq, visit
Associated Press correspondent Robert Reid's blog at http://apnews.excite.com/article/20060529/D8HTNIC80.html.)
As for his handling of the economy, President Bush fared a little
better, but not much, and not as well as last year. More than a
third, 33.7% think he's doing a "Terrible" job and 24.4%
judge his performance as "Poor." Last July the percentages
were 30% and 24.2%. The percentage of voters in this unscientific
poll who rate President Bush as doing an "Outstanding" job
has fallen from 15.2% to 9.3%.
Congress' ratings have sunk with the President's; 16.5% say
Congress is doing a "Terrible" job and 58% say Congress'
performance is "Poor." In July the percentages were 30%
and 40.9%.
A.C. MOORE HIRES NEW CEO
Rick Lepley was named the CEO of A.C. Moore, replacing
Jack Parker who is retiring as CEO and as a member of the board.
Lepley, 56, will also serve on the board, filling a vacancy created
by the untimely death of Eli Segal.
Lepley has an impressive, international resume. Earlier this year
he had retired as Exec VP of North American Retail for Office
Depot. Prior to that he was President of Office Depot Japan.
Before Home Depot, he was Founder/President of Retail Investment
Concepts, an independent retailer and Office Depot licensee for
Eastern Europe. He opened the first Office Depot in Europe in 1995
and built a retail network and delivery business for Office Depot in
Poland and Hungary. Previously, he was one of 11 execs who founded
Mitsubishi Motors in 1982 and later served as Sr. VP of
Sales/Marketing for Mitsubishi, responsible for 500+ dealerships in
the U.S.
JO-ANN'S & CHRISTOPHER
LOWELL
Jo-Ann's has launched The Christopher Lowell Collection,
made possible through an exclusive partnership with Emmy-winning
host, designer, and author Christopher Lowell. The new collection
includes a myriad of pre-coordinated fabric and trim options and
educational tools, such as instructional booklets and in-store
classes. The collection was unveiled exclusively at all stores May
27 with in-store classes commencing in superstores in August.
The Collection includes eight groupings of fabrics –
silks, poly silks, chenille, velvet, heavy jacquards, and
embroidered sheers – and trimmings. Each grouping showcases 10
different fabrics for a total of 80 offerings. The Collection also
includes 250+ trimmings and embellishments such as tassels,
tiebacks, cording, fringe, and pillow appliques that complement the
fabrics within the eight groupings. The fabrics will retail for
$14.99 to $39.99/yard, the trims for $1.99 to $29.99/yard.
"Combined with my new fabric and trimmings line and
coordinating education," Lowell said, "customers will be
able to walk into Jo-Ann's with an idea and walk out with the tools
and knowledge to make their design dreams a reality."
The collection was inspired by Lowell's book, Christopher
Lowell: Seven Layers of Design. Beginning in August, superstores
will offer classes via Jo-Ann Creative University to guide home
decorators through Lowell's design philosophy. Additional fabrics,
trims, and items such as DVDs, hardware, project books, and
patterns, plus classes, will be available in August.
POTENTIAL MICHAELS BUYERS JOIN
FORCES
Apollo Management, Kohlberg Kravis Roberts (KKR), and Texas
Pacific Group have teamed up to explore a bid to acquire Michaels,
Reuters reported. Another consortium considering a bid is Bain
Capital, Carlyle Group, Blackstone Group, and Thomas H. Lee
Partners.
It is not uncommon for investment companies to work together to
make a major acquisition. Texas Pacific joined with Bain Capital and
a Goldman Sachs Group affiliate to buy Burger King for $1.5 billion
in 2002. The hamburger chain recently went public, selling about 19%
of the shares for about $425 million. Bain, Carlyle, and Thomas H.
Lee Partners joined forces to buy Dunkin' Brands in December.
These investment firms appear to be awash with cash. On May 11,
Texas Pacific agreed to buy Smurfit-Stone Container's Consumer
Packaging segment for approximately $1 billion. On May 18, the New
York Post reported that Apollo, Bain Capital, and Texas Pacific
bid on the travel services division of Cendant, a conglomerate that
owns Orbitz, Avis, and Days Inn. Women's Wear Daily reported
Bain Capital, Texas Pacific, and The Blackstone Group are leading
bidders for Jones Apparel Group.
Some of these firms have previous connections to our industry.
KKR is the major force behind Primedia, which currently has
11 industry-connected magazines for sale. Bain Capital once bought
Tulip, the top fabric paint manufacturer at the time. It
declined drastically and Bain later sold it to Duncan, who
has revived it. In 2004 Apollo Management bought Borden Chemicals,
which manufactures Elmer's Glue and once owned Illinois
Bronze, a major acrylic paint line in the industry in the 1980s.
DISCOUNTERS REPORT RECORD
PROFITS, BUT ....
For the quarter ended Apr. 30, Wal-Mart's sales rose 12.3%
to $79.613 billion, and income rose 6.3% to $2.615 billion
($0.63/share), two cents/share better than analysts polled by
Thomson First Call had expected. "The success of this quarter
was the result of our focus on three goals: driving sales, reducing
costs, and improving inventory management," said CEO Lee Scott.
Sales in the U.S. stores rose 10.2% to $52.5 billion and same-store
sales rose 3.8%.
However, CFO Tom Schoewe cautioned, "We continue to see
higher gasoline and utility prices affecting our customers around
the world and this could pressure our results as we move into the
second quarter." He also listed higher interest rates, the
costs to fund store remodeling projects, and more expensive employee
benefits.
"Wal-Mart has a tremendous ripple effect across the entire
economy," Adrianne Shapira, a retail analyst with Goldman Sachs
told CNBC. "It's understandable that Wal-Mart might be seeing
or feeling the pinch sooner than others, given the fact that their
customer base is highly skewed toward the lower-end consumer."
Meanwhile, Target reported first quarter earnings of $554
million ($0.63/share), up 12.1%. Total revenues also increased 12.1%
to $12.863 billion and same-store sales rose 5.1%.
GETTING ALONG WITHOUT
"OUR" RETAIL
Years ago Rita Weiss, then of ASN Publishing, said when the
industry was young, the manufacturers had all the power. Then/now
retailers hold it all. But eventually, Rita predicted, the consumers
will hold all of the cards. Perhaps we're seeing evidence of that
now. Consider:
1. Subversive Cross Stitch offers numerous kits and
other designs that will probably never be sold in our traditional
stores,
yet owner Julie Jackson seems to be doing just fine, thank you,
thanks to the Internet and Amazon.com.
2. The vast majority of bead manufacturers do not exhibit
at our trade shows or advertise in our trade magazines. Instead,
they exhibit at consumer shows such as the Bead&Button show
in Milwaukee later this month. Last year's show attracted 16,000+
consumers.
3. It's taken years, but e-commerce is finally taking
hold. Visit Alpine Import for an example – www.alpineimport.com.
The latest addition is the Shawnee, KS-based ScrapbookMore.com,
offering "discounted prices on favorite scrapbooking materials,
flat rate shipping, free scrapbook layout ideas, and free
scrapbooking help." In the works is Crafter Studio (www.crafterstudio.com)
which will enable consumers to buy a project rather than visit a
store to buy a book or a magazine.
4. Bond America, now a part of Caron, established a
successful foothold in the industry via infomercials and QVC.
THEN the company exhibited at our trade shows to sell to retailers.
5. Reminders of Faith, a vendor of religious-themed
scrapbook supplies, has stopped using our trade shows and magazines
in favor of the Christian bookstore market.
6. The cross-stitch publisher who vented in Category
Reports was being boycotted by retailers for selling direct online.
He politely told them to stick it, as he continued to sell online
and expand into other categories.
Our industry isn't the only one affected. According to the
National Retail Federation's online division, Shop.org, Internet
sales will top $211 billion this year, up 20% from a year ago and
nearly double the total just three years ago.
SUMMARY OF CLN NEWSBRIEFS
Following are the highlights from newsbriefs emailed to
subscribers since the previous issue of CLN. To read the complete
newsbriefs, click on "Benny Da Buyer" in the left-hand
column.
May Sales. Jo-Ann's overall sales decreased 4.2% to $109.8
million and same-store sales dropped 7.6%. Hancock's May sales rose
5.4% and same-store sales increased 5.9%. Michaels and A.C. Moore do
not report monthly sales. Wal-Mart's same-store sales in the U.S.
rose only 2.0%. Target's same-store sales rose 5.7%.
Rumors. CLN contacted Jo-Ann's CEO after learning
two investment companies, Reed Conner & Birdwell and Tennenbaum
Capital Partners, had recently purchased millions of shares,
although not a majority; CNBC announced that Jo-Ann's was up for
sale; and StreetInsider reported analysts said JoAnn's has hired
Lehman Bros. to look at strategic options.
Chair/CEO Alan Rosskamm told CLN: "Trading volume has
been high with a number of new investors accumulating substantial
positions. Public (13D) filings occurred in December and again this
month, and in January we began working with a financial advisor to
provide ongoing counsel during this period of volatility. ... We are
ahead of schedule on our efforts to liquidate unproductive
inventory, and expect to achieve significant debt reduction by year
end."
Michaels. For the quarter ended Apr. 29, net income was
$50.6 million ($0.38/diluted share), which met Wall Street
estimates. A year ago, the company reported a loss of $35.9 million
(-$0.26), which included the cumulative effect of accounting
changes.
The Southeast, Southwest, and Pacific zones were the strongest;
the top categories were General Crafts (primarily Jewelry and
Beads), Custom Floral, Apparel Crafts, and Kids Crafts.
Margins improved but so did inventory shrinkage as a percent of
sales. Average inventory/store, including distribution centers,
dropped 9.7% to $821,000 due to an accelerated markdown program and
the liquidation of some fashion yarn inventory.
Jo-Ann's. Reported a first-quarter net loss of $6.6
million ($0.28/diluted share). A year ago the company reported a net
income of $4.2 million ($0.18). Analysts polled by Thomson First
Call had expected a per-share loss of 33 cents. The cumulative
effect of an accounting change increased earnings by $1.0 million
($0.04).
Sales increased 1.0% to $424.7 million but same-store sales
decreased 3.9%. The effort to sell excess and discontinued inventory
hurt gross margins. Chair/CEO Alan Rosskamm said he expected the
second quarter to be tough, but predicted improvement in the second
half of the year as excess merchandise is sold and replaced with
fresh inventory. In a conference call with analysts, execs said the
company was part of the "severest industry downturn in some
time," and cited declining yarn and fleece sales a reason.
HDA/Michaels. Home Design Alternatives is taking over the
distribution of books and magazines in Michaels stores. Some
magazines will be merchandised in checkout racks, and books and
magazines will be displayed in a new island fixture which will sit
in the main drive aisle in most stores. Michaels is NOT
de-emphasizing leaflets nor moving all print media to one
"library." However, if Michaels decides to reduce the size
of a particular department, the number of adjacent supporting books
will be reduced accordingly ... Some publishers remain concerned
about the terms HDA is insisting upon and the question of the books
currently in stores.
TRADE SHOW NEWS
TNNA. The Indianapolis show next weekend will have 77 new
exhibitors for a record total of 430+ vendors in 960 booths, a 9%
increase over last year. More than 35% of the 110+ classes are
already sold out. Business expert Christine Corelli, author of
Wake Up and Smell the Competition, and The ART of Influencing
Customers to BUY from YOU, is the keynote speaker. Visit www.tnna.org
for show info. During the show TNNA will host a group of
Indianapolis-area middle school students who are working on
reproductions of cross-stitch samplers from an old orphanage in
England.
CHA SHOW. Highlights of the show include Beading and
Needle Arts Pavilions; workshops, business seminars, and the new
Industry Roundtable forum; keynote speaker Jason Jennings; and the
"Chicago – My Kind of Town" entertainment spectacular
... CHA is offering a wide variety of opportunities for exhibitors
to expose attendees to their products outside their booths –
before and during the show. Email Semo Sennas at
ssennas@craftandhobby.org
or call 201-794-133 x218 for details ... Designer and Manufacturer
section meetings are also scheduled ... The deadline to register to
display in the Designer Showcase is June 15, and to reserve
space in the Innovations Showcase is June 20. Visit www.chashow.org.
BEADS. CLN is hearing of more and more industry
people planning to attend the Bead & Button show in
Milwaukee June 16-18. It's a consumer show but could be a great
place to find new vendors. Visit www.beadandbuttonshow.com.
EMAIL: A FRUSTRATED SALES
REP
You know, I hear complaints day in and day out from my customers
re: manufacturers selling to the chains, QVC, Wal-Mart,
Big Lots, etc. As a manufacturer's rep, I try to act as a
liaison between the manufacturer and independent retailer. I
continually try to help our stores see the "Big Picture."
Boycotting a manufacturer because their product is in the chains
hurts no one but the small retailer. There's a reason chains carry
the products they do – they are top sellers. I try to
"spin" it positively for the retailer, and can usually
sell in the desired product even if it's in the chains. And it does
sell, which proves our point.
But sometimes, enough is just enough! I just bought an album at A.C.
Moore for $5.00 retail. It is the very same album I'm selling to
my customers for a wholesale of $11.00. The product is just a year
old, and is in the current catalog. To me, this is just wrong, and I
feel as if I'm culpable in something underhanded, and I resent it.
"Dumping" discontinued or old product is bad enough, but
this is over the line and unjustifiable. This manufacturer, in
particular, is working to kill the independent retailers! WHY? – Name
Withheld
(Note: There are two possibilities here: A.C. Moore might
be using the item as a loss leader or the manufacturer is simply
giving lip service to his/her support of independents.)
EMAIL: VENDORS SHOULD LOOK
OVERSEAS
I just spent an inordinate amount of time reading all the back
stories in CLN's Memory, Paper & Stamps section. Just a note to
tell you that in Australia it is all just coming alive. Until
recently there were no scrappers and stampers, and now many
magazines are being developed as well as home businesses and small
shops. So perhaps the answers to [vendors'] lagging sales in the
U.S. is to look outside the U.S. There are customers in Indonesia,
South Africa, Scotland, Holland, Canada, and more. – Ruth
Treadwell, Ruth's Jewish Rubber Stamps
(Comment: The industry would be much better off if vendors
sold their overstocks and closeouts overseas, where the products are
new to consumers, rather than dumping them at U.S. consumer shows or
to deep discounters.)
RANDOM NOTES, RANDOM THOUGHTS
1. If you thought politics made strange bedfellows before,
consider this: Charles and Sam Wyly, Chair and Vice Chair of the Michaels
board, co-hosted a fundraiser recently for Senator John McCain, the
frontrunner for the GOP nomination for President. Just over six
years ago, when McCain defeated George W. Bush in the New Hampshire
primary, the Wylys poured millions into an anti-McCain tv ad blitz
in South Carolina. Bush won that primary and went on to become
President.
At the time, McCain said "They should be ashamed. Tell 'em
to keep their dirty money in the state of Texas." He called
them "Wyly coyotes" and Bush's "sleazy Texas
buddies."
2. To see some absolutely remarkable, hilarious glass
beads, visit Sharon Peters' site, www.smartassglass.com.
3. Congrats to novelist/needlework designer Lois Winston.
Her first novel, Talk Gertie To Me, is a great, funny read.
And an addendum includes instructions for "paper napkin
decoupage" that recommends Plaid's Modge Podge.
To read an excerpt, click on Kate's Collage in the left-hand column.
Lois next novel – Love, Lies & a Mocha Latte is the
working title – will be published in June, 2007. For more, visit www.loiswinston.com.
MISCELLANEOUS NEWS
GARDEN RIDGE. Apparently the chain is dropping crafts. The
head craft buyer, Betty Suran has resigned. One source tells CLN
his reps have confirmed the change and "management opinion
seems to be to 'let Michaels have that business' and G.R. will be
doing more home decor which is what they believe to be their
forte." Emails to GR were not returned.
INVESTORS. Wells Fargo & Co. recently purchased a
substantial number of shares of Hancock.
HOBBY LOBBY. Steve Barnett has replaced Steve Stringer as
Merchandise Manager for Soft Lines (needlework, fabric, sewing
notions, home dec fabric). Randy Green has taken over as Merchandise
Manager for Scrapbooking. New Merchandising Managers added recently
are Bill Davis (crafts) and Tommy Hartis (art, hobbies,
jewelrymaking).
STORES. Wal-Mart will slow its strategy of opening new
stores near older ones, CNNMoney.com reported. "In the past,
cannibalization was self-inflicted," said Vice Chair John
Menzer. "So if we served a market that had a three-store
potential and we already had two well-performing stores, we would
still open the third store. Now we're waiting on the third
store."
STORES. CLN has reported on Wal-Mart
"tests" in Plano, TX and Evergreen Park, IL in which the
size and sometimes the location of the craft/fabric department are
markedly different than traditional stores. In his speech at the
annual stockholders meeting, CEO Lee Scott said sales/sq. ft. at the
Evergreen Park store are 25% above sales at other stores in the
area, and at the Plano supercenter, gross profit/linear foot is 24%
higher than the average store.
ACQUISITION. Ellison has acquired sole ownership of the Sizzix
brand, but Ellison and Provo Craft will continue to
distribute the products through Sept., 2007. Then all manufacturing
and distribution will be through Ellison ... Kandi Corp. purchased
Ruth's Jewish Stamps; former owner Ruth Treadwell will stay
actively involved as the creative force and designer.
PEOPLE. A.C. Moore CFO Leslie Gordon is retiring effective
July 31. A national search for his replacement has already begun ...
Sun Capital Partners named a new Chair/CEO to lead its recent
acquisition, ShopKo. Interim CEO Paul White remains as
President/CMO.
KIDS. Mega Bloks will ask shareholders to change the name
to Mega Brands Inc. and says it is still considering counter-suing
the founders of Rose Art following their lawsuit against Mega
for $50 million. The argument centers on the potential financial
fallout from Rose Art's Magnetix building sets. Five product
liability lawsuits have been filed against it over Magnetix, the
(Canadian) National Post reported.
RETIRING. Our very best wishes to Joe Kimm, who has
retired from Tsukineko LLC, a division of Tsukineko Japan.
The new owner and General Manager is Jeff Owen. Call 800-769-6633 or
email jowen@tsukineko.com.
BASEBALL! TNNA has expanded the StitchNPitch promotion
started last year with the Seattle Mariners. This summer nine major
league teams will hold special nights when stitchers bring their
needlework to the game and cheer – and stitch. Visit www.stitchnpitch.com.
DOLLAR TREE. Net earnings/diluted share rose 19.2% to
$0.31 for the quarter ended Apr. 29. Sales rose 14.3% to $856.5
million; same-store sales rose 4.0%. "Increased traffic and
continued growth of our average ticket produced comp-store sales and
earnings at the high end of our guidance," said President/CEO
Bob Sasser, a former Michaels exec.
PRAYER SHAWLS. "I have to agree with Kathy Peterson;
prayer shawl groups are growing. Tapping into the
spiritual/meditative side of crafts, and knowing that what you are
making will be helpful to someone else, is invaluable. I don't know
if prayer shawl groups buy much product. Most people I know who make
them will use odds and ends or sale yarns – but that might be good
for all the stores who have excess yarns to move." – Elaine
Schmidt, Elaine Schmidt Designs
MEDIA NEWS
TV. Shop at Home, the retail channel that broadcasts a
number of industry-related shows and products to 55 million
households, will shut down at the end of June, the Cincinnati
Enquirer reported. The Internet site, www.shopathometv.com
will also cease. The problem: a failure to get widespread cable
distribution. The network broadcasts "Let's Get Crafting with
Carol Duvall" and various scrapbook shows.
TV. Last Tuesday NBC'S The Today Show featured
"Granny chic" as the latest hot trend. "Personalized
crafts, like knitting, crochet, needlepoint and quilting, are
popular again." ... The Oxygen network recently broadcast
specials on knitting and jewelrymaking. To learn more and see videos
of the shows, visit www.oxygen.com/Specials/CraftyGirls.
AWARDS. For the third consecutive year, Craftrends
has earned a West Regional Award in the Annual Awards Competition
sponsored by the American Society of Business Publication Editors (ASBPE).
This year's award in the Regular Column, Contributed category
for Rich Kizer's and Georganne Bender's "Georganne & Rich
on the Road" column. Kizer and Bender won the Gold award in the
same category in 2004 and last year, Craftrends' editorial
director Bill Gardner won the Gold regional award in the Regular
Column, Staff Written category.
MAGAZINE. Coats & Clark and SoHo Publishing have
launched Crochet Today, a bi-monthly magazine. It will be on
newsstands in August. For subscription info visit www.coatsandclark.com.
YARN. CLN has reported periodically on the
wonderful Rwanda Knitting Project launched by Caron's Cari
Clement which helps Rwandan women, often widowed and penniless due
to genocide and AIDS, become self sufficient. To learn more, visit
Cari's blog at www.fiberandcraft.org/rwanda_blog.html.
PBS. Series produced by KS, Inc. continue to roll
along. The seventh America Quilts Creatively series, hosted
by Sue Hausmann, uplinks July 2. Visit www.americaquiltscreatively.com)
and the ninth series of Scrapbook Memories, hosted by Julie
McGuffee and Both Madland, uplinks July 16. Visit www.scrapbookmemoriestv.com.
AWARDS. Getting Started Making Wire Jewelry and More,
by Linda Chandler and Christine Ritchey and published by Interweave
Press, won the top award in the Crafts/Hobby/How-to category at
the Benjamin Franklin Awards by Publishers Marketing Assn.
BOOKS. To see the new books Design Originals introduced
at Quilt Market, visit www.d-originals.com/pressrelease/quiltmarket06/designoriginals.html
... Aleene's daughters, Heidi Borchers, Candace Liccione, and
Tiffany Windsor, have a new book, Handmade Paper Jewelry (ISBN-13:
978-1-4027-2213-4), published by Sterling Publishing.
PEOPLE. SoHo named Madelyn Albert Roberts as Publisher of
its magazine division. Roberts was the publisher who launched Mode
magazine and had been publisher of McCall's ... Interweave
Press named Tricia Waddell Editorial Director of the Book
Publishing Group. She had been F+W Publications' Editorial
Director for the Craft, Home, and Lifestyle Books.
LEGAL. ABRY Partners and Providence Equity Partners reached
a resolution to the dispute regarding F+W Publications,
publisher of CNA, Memory Makers, and other
industry-related other magazines and books. F+W Chair/CEO David
Seward said, "We have entered into a confidential settlement
agreement that ends the pending litigation between us and which we
believe is a win-win resolution in the best interests of both firms
and our limited partners."
SCRAPBOOKS. The National Scrapbooking Assn. has been
referenced or quoted in recent issues of Child Magazine, The
Missoulian, and The New York Times. Visit www.nsa.gs.
THE CREATIVE NETWORK: JOB
OPENINGS
To see the latest job listings from The Creative Network, the
only personnel recruitment firm specializing in our industry, click
on Jobs in the left-hand column or click HERE.
THE CLN RETAIL INDEX
A. C. Moore (ACMR). Last*: 18.07 ... Change**: +0.66
Hancock Fabrics (HKF). Last*: 3.47 ... Change**: +0.24
Jo-Ann Stores (JAS). Last*: 16.44 ... Change**: +1.49
Michaels (MIK). Last*: 38.95 ... Change**: +0.55
Wal-Mart (WMT). Last*: 47.83 ... Change**: -+1.29
CLN Retail Index. Last*: 124.76 ... Change**: +3.5%
Dow Jones Index. Last*: 11,247.87 ... Change**: -1.1%
*June 2 ** from May 16 Prices are exclusive of dividends
SIGNS YOU HAVE GROWN UP
1. Your houseplants are alive, and you can't smoke any of
them.
2. Having sex in a twin bed is out of the question.
3. You keep more food than beer in the fridge.
4. You hear your favorite song in an elevator.
5. Jeans and a sweater no longer qualify as "dressed
up."
6. You call the police because the kids next door won't turn
down the stereo.
7. You feed your dog Science Diet instead of McDonald's
leftovers.
8. Dinner and a movie is the entire date instead of the
beginning of one.
9. A $4.00 bottle of wine is no longer "pretty good
stuff."
10. 90% of the time you spend in front of a computer is for real
work.
Bonus : You read this entire list looking desperately for one
sign that doesn't apply to you and can't find one!
REMINDERS
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3. If you ever have trouble with your password, click on
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4. Creative Leisure News is published the first and third Mondays of each
month. Your next issue will be Monday,
June 19.
xxx