Archive for October, 2008

Cabela’s store a “new prototype,” outfitter CEO says

Friday, October 31st, 2008

I wondered about this.

My girlfriend, a Cabela’s veteran from her service at the Mitchell store, remarked that the Rapid City store was much smaller and unimpressive compared to the other South Dakota location. Yesterday, Dennis Highby, Cabela’s prez and CEO, said yesterday the Rapid City store was the prototype for a new Cabela’s store style:

“During the third quarter, we opened our first next generation store and are very pleased with the initial results,” Highby said. “At approximately 80,000 square feet, our next generation store in Rapid City, South Dakota, is designed to be smaller, more flexible and efficient, and less capital intensive than our more traditional stores. We will closely monitor the performance of this new prototype and expect to roll out similar-sized stores in the years ahead.”

I’m new in town, but I think I’ve read every RCJ article about the new Cabela’s. Was this ever mentioned?

Jimmy John’s to open two new RC locations? — UPDATED

Wednesday, October 29th, 2008

I’m checking into the tip, but its possible Jimmy John’s, the super-fast service sub shop, is set to open two new locations, one at the new Cuatro Vistas building on Haines and and another location in Rushmore Crossing.

If a Jimmy John’s opens in Rushmore Crossing, it would be the first standalone restaurant in the new mega retail area.

Even though lately I’ve been spending more time at Pauly’s downtown, I’m a big fan of Jimmy John’s — I love how fast they get you your sub. A Vito with hot peppers, please!

UPDATE: A new location on Haines is confirmed, although not in Cuatro Vistas. The new shop should open in a yet-to-be-built building between Runnings and Loaf ‘n’ Jug, possibly by May 2009.

Monday Markets, Tuesday edition: T. Boone takes a hit

Tuesday, October 28th, 2008

Remember T. Boone Pickens? The Texas oil baron stopped in Rapid City a few months ago to make his pitch for alternative sources of energy, or what is known as his PIckens Plan.

The market mess punched T. Boone in the gut, according to a recent report. His BP Capital lost an estimated $2 billion. That’s in the wake of a Wall Street Journal report in late April that said BP Capital was down $1 billion.

Some tough times for the big guy.

State report: Rapid City sales up more than 3,000 percent in August — UPDATED

Tuesday, October 21st, 2008

No joke.

The report says Rapid City’s gross sales for August were $14 billion. To give you some perspective, last year’s gross sales were $405 million. That’s a jump of 3,418 percent from last year.

Previous years have ranged between $370 million and $420 million. Not billions.

I’ve got a call in to the state department of revenue, to see what’s up.

I don’t think Cabela’s did THAT well on its opening day.

UPDATE: Jane Page, of the business tax division of the state department of revenue, returned my call and left a message saying it was a mistake, and didn’t affect any tax amounts. The figures have been changed to properly represent reality.

Nike to Wal-mart: Those are my shoes!

Monday, October 20th, 2008

Nike Shox — I’m sure you have either worn them or seen them. Their heel design is pretty unique.

Apparently that also means it’s also good enough to copy.

Nike plans to sue Wal-Mart, claiming patent infringement. Wal-Mart’s shoes, branded Detra, have a similar, springy heel type. The Wally World shoes also apparently sell for about $10, or one-tenth of Nike’ price.

Maybe they work better than most sneakers, but I always had the suspicion that people bought into the heel design because it looked like a set of coiled springs — not because the shoe functioned better than any other design. I might have to go check out this Wal-Mart Detra and see if cheap and springy go together.

Is this a blatant rip-off by Wal-Mart? Or should Nike leave the cheap knock-offs in peace?

Monday Markets: Getting better, and worse

Monday, October 20th, 2008

Some parts of the US are in recession, says a top economic advisor to Pres. Bush. Americans need a stimulus package from Congress, says Fed Chairman Ben Bernanke, because the economic outlook is grim.

All bad, sad news, right?

But here’s a silver lining. Leading economic indicators are up in the short-term (think: in the next 3-6 months), even though they might stay low overall for some time. And despite the turmoil, we’re all bouncing back, says the same economic advisor who spoke the evil “R” word:

The Chairman of President Bush’s Council of Economic Advisors, Ed Lazear, is striking a positive note.

“This is an amazingly resilient economy,” said Ed Lazear. “We have seen shock after shock [in] the housing market, oil prices going up to near $150 a barrel over the summer, credit markets tighten - all of those things are very difficult to get through, and yet the economy has gotten through it.”

Banks are lending now. That might not sound exciting, but it could provide the foundation for a comeback.

Anyone know about RC “Verizon: We can’t hear you” signs?

Thursday, October 16th, 2008

When I moved to Rapid City a few months ago, I saw signs similar to the one picture somewhere in Rapid City. I thought I was in the southwest part of town, but I’m not sure. This was when I still had no idea where I was half the time, something I still run into occasionally (OK, maybe more than that).

Doug Shonley’s signs in Boulder Canyon were profiled in this KOTA piece, which is also where I got the photo. But I’m sure I saw signs that looked exactly the same somewhere around here.

I talked to Mrs. Shonley, and she said they got a lot of calls after the TV piece, but she didn’t know of any signs in the city.

Has anyone seen these?

Linens ‘n Things can’t find a buyer, starts liquidating

Thursday, October 16th, 2008

At one time, Linens ‘n Things  was listed as a possible tenant in the Rushmore Crossing shopping center. There’s no way that can happen now.

The retailer filed for bankruptcy in May, but has been on the hunt for a buyer. That didn’t come through, so all the starts are closing, with prices slashed starting tomorrow. Too bad we didn’t get the store — things would be dirt cheap right now.

Target closure in the mall hits nearby businesses

Wednesday, October 15th, 2008

I checked, and it’s true: Businesses in the Target wing of the Rushmore Mall got hit hard by the departure of the department store anchor. Some where down half their usual customers (see my article today). Another business owner told me her business had zero sales the day after Target closed.

Some businesses want the mall to help them out by moving a play place or the annual Santa into the wing.

Here’s from a Rapid Reply to the article:

Did the store owners who now see a 30-50% downturn in business ever indicate their thanks to Target in any way on a monthly basis for their bottom line? Probably not. Why is business owners economic short sightedness Targets fault? Why is it the fault of Target, or the mall management that these businesses have a very small customer base? Perhaps they need to readjust their business strategy, move, or just close. You may call me unfeeling, but that is business in todays world.

What should the Rushmore Mall do for the businesses in that wing?

Will the mall Target closure hurt businesses in that wing?

Monday, October 13th, 2008

I could be wrong, but Target’s closure must’ve cut down a lot of foot traffic there.

I can’t come up with a list of which businesses in that wing off the top of my head, but my guess is the “destination” businesses will do fine while those who depend on foot traffic might suffer somewhat.

UPDATE: I just walked through that wing last night. Stores in it are:

The Bear Factory, Pretzelmaker, Paris Nails, MasterCuts , Hallmark, Pro Image, Halloween Bootique, Knifeworx, Waldenbooks and Select Comfort.