SERVICE MERCHANDISE SUPERSTORE: THE FINE JEWELRY AND HOME DECORATIVE SOLUTION; Test concept store from Service Merchandise to open Nov. 21 in Bradenton, FL.NASHVILLE, Tenn.--(BUSINESS WIRE)--Oct. 29, 1998--With the November 21 opening of its new fine jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. , gift and home superstore su·per·store n. A very large retail store that stocks highly diversified merchandise, such as groceries, toys, and camera equipment, or a wide variety of mechandise in a specific product line, such as computers or sporting goods. concept in Bradenton, Florida Bradenton is a city in Manatee County, Florida, United States. The U.S. Census Bureau estimated the city's 2006 population at 53,986.[3] Bradenton is the largest Principal City of the Sarasota-Bradenton-Venice, Florida Metropolitan Statistical Area, which had a 2006 , Service Merchandise Service Merchandise was a chain of large stores carrying fine jewelry, toys, sporting goods, and electronics that existed from 1934 to 2002. The company's former chairman, Raymond Zimmerman, resurrected Service Merchandise as an Internet-only retailer in 2004 after buying the name (NYSE NYSE See: New York Stock Exchange : SME (1) (Small and Medium-sized Enterprise) See SMB. (2) (Subject Matter Expert) An individual who is well-versed in the policies and procedures of a particular department or division. ) will introduce a whole new home decorative and gift solution. Building on the retailer's core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
A clear point of difference for Service Merchandise Superstore will be the integration of products from independent departments like electronics, appliances, furniture and accessories into total lifestyle settings. Compared to the standard 27,000-square-foot Service Merchandise sales floor, Service Merchandise Superstore's 40,000-square-foot selling space will offer substantially more items in most home products categories, anchored by a significant increase in the number of home accents, furniture, kitchen and dining products. Specific category expansions include home storage, bath and personal care, home scents and fragrances and a new garden shop. "What we've done is to pull together all of the things the customer would want, in a suggested room setting -- not just the dining table, but the glassware and flatware, dinnerware, and the table linens and decorative accents -- all in complete displays that provide practical decorating ideas," said company president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Gary M. Witkin. "This is a true service for customers who have increasingly less time to shop -- it will really maximize the time they do have." Another scenario will position microwaves, together with microwave carts, with the cookware and microwave-safe dishes, and the under-the counter televisions and radios -- all in the same area. "The Service Merchandise Superstore will move us into a more dominant position as a home decorative authority," said Witkin. "Customers will know that we stand for design, quality and exceptional value, as well as a commitment to provide fast, friendly and knowledgeable customer service." Value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. at Service Merchandise Superstore will include a complimentary do-it-yourself gift wrap station. The new concept store will also carry the full assortment of the retailer's expansive fine jewelry selections, representing the latest in fashion diamond rings, earrings and pendants; colored stones; gold, silver and pearl collections; watches; and fine writing instruments, all at great values. The company has worked with its vendor partners in a collaborative effort to bring time-strapped customers a new shopping alternative -- the home decorative and gift solutions superstore. This concept is one of the Company's ongoing tests of potential growth vehicles, and current plans call for two more Superstores to open in Ann Arbor Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , MI and Gulfport, MS in 1999. A second growth vehicle currently being tested is Service Select, a `best of the best' concept which offers the company's full selection of fine jewelry, along with an edited assortment of the company's most popular home and gift merchandise. Six of these 10,000-12,000-square-foot stores will be open by Thanksgiving. Service Merchandise is a national retailer of fine jewelry, gift and home products. The Brentwood, Tenn.-based company employs approximately 25,000 associates and operates 355 stores in 34 states. Service Merchandise stock trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol SME. More information is available at the company's web site and on-line store at www.servicemerchandise.com. |
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