INTERMIX HITS SOUTHAMPTON: Intermix is to open its first store in the Hamptons today, a 3,600-square-foot boutique at 64 Main Street in Southampton, N.Y. The chain’s ninth location was designed by Manhattan-based L.E.F.T. Design and incorporates an innovative racking system with custom-made tubular fixtures crafted by Lee Irvine, a Brooklyn sculpture artist. The store will carry some 60 collections, ranging from footwear to apparel, with exclusive collections from Chloe, Circle by Mara Hoffman, Manoush and Zimmerman. Intermix will open its 10th unit in Manhattan’s SoHo in August. The 4,000-square-foot store at 98 Prince Street will be the company’s flagship.

RITE AID PROFIT SLIPS: Rite Aid Corp.’s first-quarter profits fell amid disappointing pharmacy sales as the drugstore chain on Thursday also lowered guidance for fiscal year 2006. For the three months ended May 28, net income fell 47.5 percent to $33.4 million, or 4 cents a diluted share, from $63.7 million, or 10 cents, in the same year-ago quarter. Revenues inched down by 0.5 percent to $4.22 billion from $4.24 billion. Same-store sales dipped 0.3 percent, reflecting a 1.2 percent decline in pharmacy comps that was offset by a 1.4 percent gain in front-end comps. The firm lowered guidance for fiscal year 2006, with sales expected in the range of $17.1 billion and $17.4 billion.

This story first appeared in the June 24, 2005 issue of WWD. Subscribe Today.

load comments
blog comments powered by Disqus