THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, March 3, 1995 TAG: 9503030363
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: BY STEPHANIE STOUGHTON, STAFF WRITER
LENGTH: Short : 45 lines
Caldor Corp. will join the crowd of discount chains planning to squeeze into Hampton Roads.
The exact number of stores has not been decided, according to Gary Vasques, a spokesman for the Norwalk, Conn.-based retailer.
``By the time we're finished, it probably will be six to eight stores,'' Vasques said.
The stores are likely to be evenly divided between South Hampton Roads and the Peninsula, Vasques said, although he declined to name specific sites or localities. Most of the stores will open in 1996, but some may not be ready until the following year, Vasques said.
``There is no final timetable,'' he said.
Caldor will have to fight for market share with leader Wal-Mart, Kmart and regional chain Rose's. It also will have to compete with a host of newcomers: SuperKmart, Target and Hills Stores.
The 163-store chain has made many changes in its stores in recent years to survive in the competitive discount-chain field.
Caldor has shifted its focus to more upscale clothing, enlarged and renovated older stores, and expanded into urban areas.
``About 70 percent of their stores are new or have been remodeled since 1990,'' said Sally Wallick, senior vice president of the brokerage Legg Mason Wood Walker Inc. in Baltimore. ``There's very little comparison from what you saw 10 years ago and what you see now.''
Caldor's marketing strategy differs from that of Wal-Mart and Target, Wallick said.
``They often look at inside-the-beltway locations,'' she said. ``They aren't necessarily focused on the suburban market.'' ILLUSTRATION: Graphic
R.D. VOROS/Staff
CALDOR CORP. SALES
SOURCE: Bloomberg Business Newss
[For complete graphic, please see microfilm]
by CNB