Regions Southwest
Mervyns Announces New Store Openings
May 20, 2008

Mervyns, the mid-tier department store chain in California and the Southwest, plans to open five new store locations, sell certain other store locations, and launch an e-commerce Web site, the company announced today. Mervyns' plans to open five new stores in its core markets in 2009 brings the total number of new Mervyns stores to 17 since the company was acquired by its private equity owners three years ago. Concurrently, Mervyns reported it has engaged DJM Realty L.L.C. to sell 5-10 underperforming stores. The real estate portfolio transition is expected to generate $25 to $50 million in cash to fund operations and new growth initiatives.

Additionally, the company will launch a fully integrated The site presents a new growth vehicle and multi-channel opportunity for existing and new customers nationwide, and forecasts that the online platform could quickly grow into a $50 million business.

 
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