Archive for Wednesday, December 11, 2002

Business Briefcase

December 11, 2002


Retail: Office supply store to close this month

Save-On Office Supplies, 2020 W. 23rd St., is scheduled to close its lone Lawrence store at the end of business on Dec. 21.

Mike Billman, district manager for the Fort Worth, Tex.-based company, said the store never was able to generate the level of sales the company expected.

Save-On has had a store in Lawrence for eight years, Billman said. It originally was located in the Dickinson Plaza shopping area on south Iowa Street, but moved from that spot three years ago when a Office Depot store opened nearby.

Four full-time employees will lose their jobs as a result of the closing, Billman said. No tenant has been found yet for the 4,500 square foot building the store occupies.

Telecommunications: CFO for Sprint PCS to resign in January

William Gunter, chief financial officer of Sprint Corp.'s PCS Group, is leaving the company, effective Jan. 3

Sprint PCS has not named a replacement and does not have a deadline for finding one, said spokeswoman Melinda Tiemeyer. She declined to comment on the reasons for Gunter's leaving.

In November, Sprint PCS laid off about 1,600 workers, or 6 percent of the division's work force. About 660 of the jobs were in the Kansas City area. PCS also released about 500 contractors.

Wall Street: Kroger earnings rise

The Kroger Co. on Tuesday reported higher third-quarter earnings but said earnings for next year will be about the same as this year.

The supermarket chain operator earned 33 cents per share during the quarter, up from 16 cents a share during the same period a year ago.

But Kroger officials said they expect earnings in 2003 to equal 2002 earnings, and same store sales growth will be less than the company's 2 percent to 3 percent goal.

Kroger owns several supermarket chains, including the Dillons chain.

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