COMMENTARY: WAL-MART'S
GOT GUTS
My hat is off to Wal-Mart for its new program of opening
stores in poor areas (see below). The first store will be in
Chicago's Austin neighborhood where I grew up. It was always a tough
neighborhood but .... I left for college in 1965 and Austin
continued to deteriorate. In the 1970's I pleaded with my
then-retired parents to move. They finally said yes after a gun
fight in their alley. In the 1990's I drove through the neighborhood
and was shocked by what I saw: a bombed-out war zone.
It's a real risk on Wal-Mart's part, and the neighborhood will
never revive if there aren't more jobs there. (Yes, I know, how much
Wal-Mart pays its employees is another issue.) If I had grown up in
the Austin of today, I would have had to join a gang for protection
-- never would have made it out there.
NEW COLUMNS THIS ISSUE
Kate's
Collage. Gail Czech of The Creative Network points
out three areas where job applicants embellish their resumes – and
are easily caught.
Scene &
Heard. Looking for an exciting new job? A
Captain in the U.S. Air Force stationed in Iraq offers this unique
opportunity.
Store Layout/Design
Tips. Practical advise on store
layouts, lighting, and what's called the "decompression
zone."
Still Online: Readers' evaluation of the Michael Rouleau
era at Michaels -- in Business-Wise
... Key Challenges for the industry in 2006 -- in Vinny
Da Vendor ... A walking tour of a new Wal-Mart prototype -- in Benny
Da Buyer ... Readers weigh in on the future of scrapbooking --
in Memory,
Paper & Stamps ... Industry pros evaluate the trends and
products at the CHA Winter Show.
TAKE THE CLN POLL:
WAL-MART
The world's largest retailer exposes millions of consumers to our
industry's products. It has forced vendors to adopt modern
technology (e.g., UPC codes) which has ultimately made vendors and
retailers more efficient. It has driven down costs of products which
has helped keep inflation in check. It has also driven countless
retailers out of business and changed the face of Main Street
America. All in all, has Wal-Mart been good for the United States
(and now, the world)? Has Wal-Mart ultimately been good for the
craft industry? To vote, click on Industry Polls in the right-hand
column or click HERE.
CLN
POLL: THE IMMIGRATION
SITUATION
Like the United States in general, CLN voters believe the
issue of illegal immigration is very important – but are divided
about what to do about it; 37% believe the issue is extremely
important while 47.8% think it's very important. Only 10.9% said it
was fairly important and 4.4% believe it isn't very important. No
one thought it was unimportant.
The numbers were similar for Congress appropriating
"substantial funds to improve border security": 85.5% said
it was extremely or very important.
The division came when considering competing bills in Congress.
The Sensenbrenner bill, passed by the House of Representatives
calling for illegal immigrants to be considered felons, received
47.6% approval, while the McCain-Kennedy bill which would have
created a process whereby immigrants could eventually become
citizens, received 42.9%. "Neither" received 9.5%. (Note:
The issue became moot when the Senate failed to pass the
McCain-Kennedy bill and adjourned for vacation.)
YARN SALES: A CHANGING STORY?
Spinrite's fourth quarter revenue was $25.8 million (Canadian
dollars), down 27.3% from the previous year. Officials pointed to
cooling sales for fancy yarns and high retail inventory positions.
Gross profits were 17.2%, down from 30.5%, due to an inventory
write-down of approximately $2.5 million
In a conference call with analysts, CFO Ryan Newell said the
trend was North America-wide after abnormally high sales in the
second quarter of 2005 – and sales haven't improved in the first
quarter of 2006, Canadian Press reported. "This is aggravating
the high inventory situation at the retail level in that it is
taking longer to work through the inventory at factory levels and
retail levels." He also blamed offshore yarn manufacturers
dumping excess inventories at dollar stores.
How the market has changed is revealed by Spinrite's fiscal year
report. Despite the fourth quarter, annual revenues rose 10.7% to
$131.8 million, thanks to a 16.7% increase in fancy yarns, a 10.6%
increase in classic yarns, and flat sales of cotton yarns.
LATE EASTER DAMPENS MARCH
SALES
March sales were disappointing throughout much of the retail
industry, but retailers had a variety of excuses: A late Easter,
cold weather, rising gas prices and interest rates, and slower
spending by teens to name a few.
Jo-Ann Stores reported that March net sales increased 1.9%
to $163.7 million but same-store sales decreased 3.1%. A year ago
the same-store sales decrease was 2.6%. Sales for the nine weeks
year-to-date increased 1.8% to $294.3 million but same-store sales
decreased 3.3%, versus a 0.8% same-store sales decrease for the same
period last year.
The next day Standard & Poor's Ratings Services lowered its
corporate credit rating on Jo-Ann's to 'B-' from 'B+' and its
subordinated debt to 'CCC' from 'B-' with an outlook of negative.
"The downgrade is based on the continuation of weak operating
trends and the expectation of a challenging year," said S&P
analyst Robert Lichtenstein. S&P also cited the departure of key executives whose positions have not yet been
filled.
Hancock reported March sales fell 3.6% to $36.5 million
and same-stores declined 3.1%. In the first two months of fiscal
2006, total sales have fallen 4.5% to $66.1 million and same-store
sales dropped 5.1%, including a 1.2% benefit from stores that are
being liquidated in connection with store closing sale events.
Michaels and A.C. Moore no longer reveal monthly
sales, but for the first quarter ended Mar. 31, A.C. Moore reported
sales rose 8.2% to $132.9 million, but same-store sales fell 1.8%.
CEO Jack Parker said, "Our comp store sales were slightly
below our plan, driven principally by the decline in our yarn and
yarn accessory business. Those sales were $8.2 million below last
year in comp stores. We continue to be encouraged by the performance
of the other merchandise categories as sales excluding yarn
increased by almost 6%. Although we anticipate a continuing drop in
our yarn business for the rest of the year, the dollar decrease will
be substantially less than what occurred in the first quarter. Based
on the first quarter sales as reported, our first quarter earnings
are likely to be at or modestly below the analysts' consensus
earnings estimate, which is $0.01 per diluted share."
OTHERS. Costco, +7.0% ... CVS, +7.0% ... Sam's Club, +4.5%
... Nordstrom, +4.3% ... Walgreen, +4.3% ... Target, +2.2% ... Rite
Aid, +2.1% ... Wal-Mart, +1.4% ... Family Dollar, +1.4% ... Duckwall-ALCO,
+0.7% ... Factory Card/Party Outlet, -0.5% ... Dollar General, -1.5%
... J.C. Penney, -1.0% ... Bombay, -1.7% ... Pier 1, -2.0% ...
Federated, -3.6%.
WHAT DO THE MARCH SALES
FIGURES MEAN?
Because sales for Easter apparel and decorating often jump from
March to April and back again, it is wiser to combine March and
April sales and then compare them to the previous year. "You
really have to take March and April as a package deal because of the
2 to 3 percentage point shift that usually takes place because of
the Easter holiday," Ken Perkins, President of the research
firm Retail Metrics, told Reuters.
Nevertheless, the March figures may be cause for some concern.
"Even when you make the adjustment, what we're seeing is a
slight softening in the pace of demand relative to demand,"
Michael Niemera, chief economist and director of research for the
International Council of Shopping Centers, told TheStreet.com.
"We went through a period of strong demand in 2004 and 2005 and
now we're seeing some moderation."
10 QUESTIONS THE INDUSTRY IS
ASKING
The first quarter of 2006 is over. Many industry pros were
worried when they traveled to Las Vegas for the CHA Winter
Show. But to the surprise of many, it provided a positive shot in
the arm. But then they returned home and as the quarter sped by, the
questions resurfaced:
1. Has scrapbooking peaked, or is it still growing but
some sales are being siphoned off by non-industry retailers? If so,
how do we get those sales back?
2. Yarn sales are disappointing. Those young people
knitting scarves last year – was that a fad instead of a trend? Or
did retailers simply over-estimate the category's continued growth?
3. Beading/jewelrymaking is hot, but much of it is
happening outside our retail stores. How can the industry get that
business?
4. When will Jo-Ann's turn around? Will it take
until a new CEO is hired, gets his feet wet, hires a VP of
Merchandising, he gets his feet went, and then finally makes
changes? How long will all that take? Will selling off old
merchandise leave the company with enough cash to buy higher-margin,
better-selling inventory?
5. Who will be the new CEOs at Michaels and A.C.
Moore? Will they be able to fill the big shoes left behind by
Michael Rouleau and Jack Parker?
6. There's a trend by retailers to concentrate less on
scrapbooking and yarn and pay more attention to traditional
categories. Will that strategy work? (One major manufacturer of
basic craft products told CLN he's having an excellent year,
but isn't sure if that's a sign of a rejuvenation of his category or
simply refilling a pipeline depleted by stronger than expected
Christmas sales.)
7. Will CHA, now managing the summer show for the first
time, be able to give it the boost that it needed?
8. Will designers find as comfortable and profitable a
home in CHA's designer section as they did in the now-dissolved
Society of Creative Designers?
9. A hot trend inspires people to open a specialty store;
then eventually there is a weeding-out process of those independents
who do not have the capital or the expertise to operate an ongoing,
successful store. That weeding-out process has been occurring in
scrapbooking. Is it complete, leaving savvy, successful storeowners,
or is it ongoing?
10. Hot trends come and then usually fade to become a
basic category. Another hot trend comes along, but not right away.
Is the industry entering a fallow period between hot trends?
(Note: Have any answers, comments, or additional
questions? Email your thoughts to CLN to mike@clnonline.com.)
REMINDER REMINDER REMINDER!
Check your address book. Does it still contain CLN's email as
mhartnet@ix.netcom.com?
In a few days that will no longer work. Change it to mike@clnonline.com.
SO, WHERE SHOULD STORES
ADVERTISE?
No store survives and grows without some form of advertising. But
which form provides the best return on a retailer's investment?
There's no single answer for every store of course. Billboards,
radio, television, and direct mail are options, but local newspapers
seem to be the primary vehicle. For example, Michaels uses
inserts in Sunday newspapers, while Hobby Lobby runs large
run-of-press ads in Sunday papers.
Wal-Mart recently ran a test in response to complaints
from the National Newspaper Association. The NMA claimed the
discounter sought free publicity from local newspapers but did not
advertise, while driving out of business local businesses that did
advertise.
So Wal-Mart placed a full-page color ad for its electronics
department in 336 smaller papers in Missouri and Oklahoma between
Nov. 30 and Dec. 6, according to the Associated Press. The result?
"Our test showed that it did increase product sales but our
margins are so thin that we didn't even come close to offsetting the
cost of the ads," Wal-Mart spokeswoman Mona Williams told the
AP.
HOW SMALL VENDORS CAN WORK
TOGETHER
In the previous issue CLN described the problem of many
small vendors who want to sell their business or need an investor to
help move the company to a higher level. Rob Bostick, CEO of JudiKins,
suggested they join forces so that they are large enough to attract
buyers or investors. He is right, in a variety of other ways, too.
If retailers benefit from joining together in groups such as Crafter's
Home and Sierra Pacific Crafts, why shouldn't small
vendors work together, too? Some examples:
1. If exhibiting at trade shows is becoming prohibitive,
why not exhibit with another small vendor and split the
exhibit costs?
2. If you send mailings and emails to retail customers,
pool your mailing list with those from other vendors.
3. Stretch trade ad budgets by approaching the magazines
as a group to receive better ad rates. One fourth of a full-page
rate is less than buying a quarter-page on your own.
4. Small publishers could probably receive better deals
from printers if they agreed to use the same printer, provided the
price was right.
(Note: Anyone have any other ideas how small vendors can
work together to save money? Email your suggestions to CLN at mike@clnonline.com.)
HOW SMALL RETAILERS CAN WORK
TOGETHER
Kentucky scrapbook stores, members of Maps-2-Memories,
recently joined forces to sponsor a bus trip for 200+ consumers. The
stores were Card & Cloth in Franklin, Someplace to
Remember in Bowling Green, Sassy Scrapper in Lebanon and Scrapbook
Village in Glasgow.
"These are four vastly different stores, both in size and
product offerings," said M2M's Pam Riddell, "which made
for a great consumer experience. Each store partnered with one
manufacturer who provided free make-it/take-its in exchange for the
store featuring that manufacturer's products in good supply, and a
discount on the line."
Participants paid a $50 fee, which included transportation from
store to store, box lunch on board the bus, and light supper on
their return to originating store. The result was "one of the
biggest days ever" for the retailers and some very happy
consumers.
One of the attendees wrote, "I just wanted you to know what
a wonderful time we had on the bus trip. In all the scrapbook stores
and events I have been at, from San Antonio and Atlanta to Columbus
GA, Louisville, and now here, this rates the 100% ABSOLUTE BEST
event ever!!! ... I am proud to be a part of the first
Maps-2-Memories Tour. It's definitely the topper of my own memories
for scrapbooking events that I have attended.!"
Plans are underway for another Maps-2-Memories bus tour.
"This is why we began M2M," says Pam, "to encourage
cooperation among independent scrapbook stores solely for the
benefit of independent scrapbook stores. In sharing with each other,
we increase exposure and business for our industry and, directly,
our stores. I hope this gets [retailers] thinking about working with
nearby stores, partnering in events like these, where EVERYBODY
Wins."
For more on M2M, call 865-690-5552 or visit www.maps2memories.com.
WAL-MART NEWS
1. Announced it will open 50+ stores in neighborhoods with
high crime or unemployment rates, which will create 15,000-25,000
jobs and generate $100+ million in state and local tax revenue. The
first will be in the west side of Chicago. Elements of this
"Opportunity Zones" program include identifying up to five
local businesses per quarter to be singled out as "Small
Business Spotlights"; featuring these small businesses in local
newspaper ads and offering to produce free radio ads for them, which
will be broadcast on Wal-Mart's in-store radio network; holding
seminars for small businesses on best practices and how to thrive
with Wal-Mart in their communities; and producing an annual
"Wal-Mart Trends Report" that it will share exclusively
with the small business community and "Working with
Wal-Mart" sessions designed to help local, minority and
female-owned businesses learn how to do business with Wal-Mart.
2. One company Wal-Mart inadvertently helped is Grace
Publications. "When they decided to locate a supercenter on
our side of town, the adjoining property values shot up," wrote
Randy Churchwell. "Not needing to be in a high traffic area, we
have taken advantage of that and sold our building." The new
address is PO Box 480, Johnson City, TN 37605. For shipping, it's
C/O JC Commercial Warehouse, 119 E King St., Johnson City, TN 37601.
3. Thanks to high energy prices, Fortune reported
Exxon Mobil surpassed Wal-Mart as the nation's largest publicly
traded company. Exxon Mobil's 2005 revenues rose 25.5% to $340
billion, the most by any U.S. company in history. Wal-Mart's revenue
was up 9.5% to $315.65.
4. Wal-Mart is reducing its inventory and pressuring
vendors for more "just in time" shipments, CNNMoney.com
reported. The result is hurting some major vendors such as Proctor
& Gamble in the short run.
5. CEO Lee Scott will take a one-month vacation in May,
his first since 2000, the Associated Press reported. Vice Chairs
Mike Duke and John Menzer – both considered possible successors to
Scott – will be in charge. A spokesperson denied this meant Scott
might be preparing to leave, but the announcement raised eyebrows
among some Wall Street analysts.
INDUSTRY MAGAZINE NEWS
1. Cross-Stitch & Needlework magazine is back.
The former Stitcher's World has been reintroduced by Bayview
Publishing with the title of the former Meredith
publication that once had 2+ million readers. The bi-monthly is led
by industry veteran VP/Publishing Director Maureen Ruth and
Editorial Manager Gloriann Doyle – gdoyle@c-sn.com.
Call 866-321-9550 or visit www.c-sn.com.
For info on the retailer program, call Bre Speich, 715-342-0741,
ext. 204 or email actgasst@charterinternet.com;
for advertising, call Daena Oczachowski, 715-341-1046, or email advertising@c-sn.com.
2. Interweave Press Founder Linda Ligon was named
to Folio: magazine’s Folio: 40 list of top
innovators and "influencers" in the publishing industry. (Note:
Folio: is the leading trade magazine for the magazine
publishing industry.) Ligon started Interweave from her kitchen
table and launched the company’s first magazines, Interweave,
Handwoven, and Spin in 1975. Today Interweave also
publishes Beadwork, PieceWork, and Fiberarts
and various books. Ligon sold Interweave to Aspire Media last
year and remains as Creative Director. For more info on Interweave
Press, visit www.interweave.com.
3. Combining technology and crafts, Creative TECHniques
goes on sale May 9. It's aimed at the
been-there-done-that-now-what audience with projects such as
creative scanner technology in quilting, inkjet transparency
transfers in scrapbooking and paper crafting, image transfers with
funky embellishments for totes and cigar-box purses, digital camera
shopping, etc. Contact Editor PC Smart (who has written numerous
articles in CLN's Tech Topics column) at editors@creativetechniquesmag.com
or call 770-904-0133; for advertising email Tamara Hanes at thanes@allamericancrafts.com
or call 888-781-4486. To sell the magazine in your store, call
973-347-6900, ext. 101.
4. CLN has learned that F+W Publications has
decided to cease publication of Decorative Artist's Workbook magazine
as of the June issue.
5. SoHo Publishing is launching Adorn magazine,
"The crafty girl's guide to embellishing life," with the
Summer issue in June. Editor Christina Batch (212-937-2589) says the
focus is to bring craft and fashion projects to life quickly using
easily available materials and customizing them. "We will bring
readers the ideas that will help turn something they like into
something they love, something that's uniquely theirs." For ad
info, call 212-937-2554.
6. On Apr. 24, Julie Stephani joins The North American
Membership Group as Editor of Today's Creative Home Arts (TCHA)
magazine and Exec Dir. of the Creative Home Art Club. TCHA's
the official publication of the Creative Home Arts Club and the
nation’s largest general craft magazine, reaching 280,000 women.
Contact Julie at Today's Creative Home Arts, 12301 Whitewater Dr.,
Minnetonka, MN 55343. Call 952-936-9333.
RANDOM NOTES, RANDOM THOUGHTS
1. Think beads are hot? A Gaithersburg, MD woman was
charged with stealing nearly $900 in beads from an A.C. Moore store.
She allegedly stole 259 packages of jewelrymaking beads worth $890.
She was also charged with assaulting two store employees who stopped
her with the stolen merchandise, reported the Herald-Mail.
2. A basic statistic analysts seem to follow when
evaluating retailers is same-store sales, not overall sales. If a
chain is opening more stores, the rising overall sales may mask
problems within the company. Hence the importance of sales in stores
open more than a year, compared to those sales a year ago.
Makes sense, but maybe not in Wal-Mart's case. For months
now Target's monthly same-store sales have been better than
Wal-Mart's, but that may be due to Wal-Mart opening so many stores,
many of which are cannibalizing existing Wal-Mart store sales. So
analysts look at a store that's been open more than a year and is
losing some sales to a new Wal-Mart, but ignore the new store's
sales because it can't be included in same-store sales figures. So
the store being cannibalized is counted, but the new store that's
taking some of those sales is not.
MISCELLANEOUS NEWS
SHOWS. Jason Jennings, named one of the top three business
speakers in the country by USA Today, will be the keynote
speaker for the CHA Summer Show (July 21-23). Jennings,
best-selling author of Less Is More and Think BIG-Act
Small, will speak on Fri., July 21 from 6 to 7 pm followed by a
book signing. Attendees are also invited to a complimentary cocktail
reception prior to his speech at 5:00 pm. The presentation and
reception is FREE if tickets are reserved prior to the show, and
includes a copy of his latest book. Tickets at the show will be $25
each. They can be reserved online at www.chashow.org.
For more on Jason Jennings, visit www.jason-jennings.com.
Online registration begins Wednesday. To view the entire program and
register for badges, events, etc., visit www.chashow.org
and click on Summer Show. Members will need their CHA member ID and
zip code. If you do not know your CHA Member ID, email membership@craftandhobby.org.
RAG SHOPS. CLN has heard reports that the company
is closing five stores, four in the Northeast and one in Florida.
CEO Ron Staffieri told CLN, "Things are a lot better
than they were a couple of months ago. Financing from Sun is in
place, vendor agreements have been accomplished, and our
restructuring plan is in place. The closing of five stores is one
element of that plan. [They're] in outlying markets which are not
part of our go-forward plan."
LOOKING TO HIRE. Manufacturer of home dec and craft
products looking for Product Development Dir. and Art Dir. Both
require working approximately 4-6 months in China each year. Also
looking for a designer with strong home dec background to work out
of U.S. office. For more info, reply in confidence to Mike Hartnett,
mike@clnonline.com
... An art materials company in upstate NY is looking for a
Marketing Manager. Salary range: $70-$80K, plus 14% bonus.
Interested parties should call Carol Remington at 719-488-1788, and
send their resumes to cremington@woodmoor.com.
CRAFTS. To read about the hip craft generation crossing
into the mainstream by Kathy Cano Murillo, visit www.azcentral.com/home/crafty/articles/0307altcraft0304a1.html.
It should be required reading for craft retailers, vendors, and
designers. Besides being a features writer for the Arizona
Republic, Kathy also is a craft designer/author with a strong
Hispanic flair. Her latest book is Art de la Soul: Glittery Ideas
to Liven Up Your Life. Visit www.craftychica.com.
ANNIVERSARIES. Best wishes to Martingale on its
30th anniversary of publishing quilting books, and to art material
distributor MacPherson's celebrating its 100th anniversary.
SCRAPBOOK PAPER. Vendors with discontinued 12x12 papers or
overstocks should contact Sam Kurc at Riot Art and Craft in
Australia. Email Sam at riot@mira.net.
BOOKS. Sticker pioneer Mrs. Grossman’s has
expanded into publishing with Mrs. Grossman’s Sticker Magic,
a 132-page, hard-cover book with full-color photographs showing 200+
DIY craft and home dec projects and a sheet of 50+ stickers.
Suggested retail: $30. Visit www.mrsgrossmans.com/products/stickermagic.shtml.
(The company offers the only sticker factory tour (in Petaluma, CA)
in the world, hires and celebrates the skills of the
developmentally-challenged, allows employees to bring their dogs to
work, and donates 6+ million stickers a year to children in
hospitals and medical facilities.)
MARTHA. EK Success isn't the only company with whom Martha
Stewart is signing licensing deals. Her latest is with Federated
Department Stores (Macy's) for a Martha Stewart Collection of
bed and bath textiles, bridal registry, housewares, casual
dinnerware, flatware and glassware, cookware, and holiday
decorating. The lines will be more upscale than the similar products
under her name that are sold at Kmart (which, according to press
reports, is not happy about Martha's new deal).
PEOPLE. Hancock promoted Hancock veteran Dean Abraham to
Sr. VP/Store Operations, reporting to CEO Jane Aggers. Reporting to
Abraham will be the three regional vp's and a newly-created
position, VP/Business Development. "Our primary goals for 2006
are to fully implement our sales growth initiatives, increase
productivity, and reduce expenses across the organization.
Strengthening our stores organization is an essential part of
achieving these goals and supporting our business strategy,"
Aggers said.
QUOTATION. "Art critics have long dismissed [Thomas
Kinkade's] work as a kitsch crime against aesthetics. But now the
world has grown even more 'unsympathetic and complex' for the
artist, who describes himself as a devout Christian and has
trademarked his 'Painter of Light' sobriquet. In court documents and
other testimony, he has been accused of sexual harassment,
fraudulent business practices and bizarre incidents of drunkenness
including a habit of 'ritual territory marking' that involves
urinating in public places." – Oliver Burkeman, (The
Manchester [UK] Guardian)
DUCKWALL-ALCO. Net earnings for the fourth quarter rose
148% to $5.2 million ($1.33/diluted share). Sales rose 8.3% to
$127.2 million and same-store sales rose 4.5%. Net income for the
year fell 51% to $1.9 million ($0.47). Net sales rose 6.3% to $435.0
million and same-store sales rose 3.1%.
TRADEMARKS. To read a clear answer to the question of
should retailers trademark their stores' names/logos, visit www.babyshopmagazine.com/spring06/trademark.htm.
PAINTING. Miller Woodcraft is leaving the decorative
painting business to concentrate on other areas. " I realize
there are still many devoted painters out there; just not enough to
keep us going," Rick said. To see the closeout specials on wood
shapes and kits and tole books, visit www.millerwoodcrafts.com.
CRUISES. There will be a Carol Duvall Crafting Cruise Oct.
21-28 from San Diego to the Mexican Rivera. Experts teaching classes
include Donna Kato (polymer clay), Mary O'Neil (velvet embossing),
Priscilla Hauser (decorative painting), Tim Holtz
(stamping/antiquing), Tricia Morris (stamping/scrapbooking), Karen
Thomas (paper folding/origami), Michael Strong (stamping), and Dee
Gruenig (stamping). There will also be "Coffee With Carol"
events. For details, visit www.drolett-travel.com.
QUOTATION. "The translation from the romance of a
small business to the hard work required to make it go is something
many people do not understand until they have been there." –
Scott Clarke, Douglas Co. (Gift & Decorative Accessories)
THE CREATIVE NETWORK: JOB
OPENINGS
To see the latest listings from the only personnel recruitment
firm specializing in our industry, click on Jobs in the left-hand
column or click HERE. To read advice – and a warning – about
writing a resume, click HERE.
THE CLN RETAIL INDEX
A. C. Moore (ACMR). Last*: 18.24 ... Change**: -0.15
Hancock Fabrics (HKF). Last*: 3.29 ... Change**: -0.33
Jo-Ann Stores (JAS). Last*: 12.49 ... Change**: -0.96
Michaels (MIK). Last*: 37.01 ... Change**: -0.58
Wal-Mart (WMT). Last*: 45.77 ... Change**: -1.52
CLN Retail Index. Last*: 116.80 ... Change**: -2.3%
Dow Jones Index. Last*: 11,137.65 ... Change**: +0.2%
*April 14 ** from Mar. 31 Prices are exclusive of dividends
WISDOM FROM THE LONE RANGER
AND TONTO
The Lone Ranger and Tonto stopped in the desert for the night.
After they assembled their tent, both men fell sound asleep.
Some hours later, Tonto wakes the Lone Ranger and says, "Kemo
Sabe, look towards sky, what you see?"
The Lone Ranger replies, "I see millions of stars."
"What that tell you?" asked Tonto.
The Lone Ranger ponders for a minute then says,
"Astronomically, it tells me there are millions of galaxies and
potentially billions of planets. Astrologically, it tells me Saturn
is in Leo. Time wise, it appears to be about a quarter past three in
the morning. Theologically, it's evident God is all-powerful.
Meteorologically, it seems we will have a beautiful day tomorrow.
What does it tell you, Tonto?"
Tonto is silent for a moment, then says, "Kemo Sabe, you
pretty dumb. It means someone stole tent."
REMINDERS
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3. If you ever have trouble with your password, click on
"Trouble with your password" in the right-hand column of
the main page. The computer will then email the correct information
to you.
4. Creative Leisure News is published the first and third Mondays of each
month. Your next issue will be Monday, May 1.
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