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VOL. 117 | NO. 184 | Sunday, October 12, 2003

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First Mercantile

First Mercantile

Appoints New Leaders

First Mercantile Trust announced the appointment of David Alan Dunaway as president and James Pratt as chief operating officer. Dunaway most recently worked for Russell Investment Group. Pratt previously served as chief financial officer for Transaction Graphics Inc., a Memphis-based check printer.

Captain Ds Signs

Area Franchise Deal

Captain D's Seafood announced it signed seven new franchise agreements nationally, including one with Serve Holdings LLC to develop 15 franchise stores in Memphis. In addition, Captain Ds will turn over 20 company-owned stores to Serve Holdings, which will have exclusive expansion rights in parts of Missouri, Kentucky, Illinois and Western Tennessee.

 

Department Stores

Begin Fall on Weak Note

Federated Department Stores Inc. has posted a 2 percent decline in October same-store sales, and total sales fell 2.1 percent. J.C. Penney Co. comparable store sales fell 2.3 percent. Sears Roebuck & Co. comparable domestic store revenue dropped 2.7 percent, and Limited Brands Inc. same-store sales fell 2 percent. Wal-Mart, meanwhile, reported a same-store sales gain of 4.5 percent, and Target same-store sales rose 1.6 percent.

 

Tunica RiverPark Plans

December Opening

Tunica RiverPark, a $26 million ecopark, is set to open in December with a 37,000-square-foot interpretive center showcasing the Mississippi Rivers history. The facility includes aquariums, exhibits, meeting rooms and a floating dock for paddlewheel boats.

 

Family Dollar Reports

October Store Openings
Family Dollar Stores Inc. opened 40 stores in October, including three in Tennessee. The company now operates 5,066 stores in 43 states.

 

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 51 329 975
MORTGAGES 54 374 1,120
FORECLOSURE NOTICES 26 93 228
BUILDING PERMITS 177 767 2,425
BANKRUPTCIES 51 273 675
BUSINESS LICENSES 27 189 489
UTILITY CONNECTIONS 19 113 293
MARRIAGE LICENSES 10 59 140