STRICTLY BUSINESS: GOOD NEWS AND BAD NEWS ON BUSINESS FRONT

There was some good news and bad news on the Southeast Missouri business front last year.

The good news was that more than 330 new businesses opened, and 30 expansions were reported..

The bad news? Almost 150 businesses closed.

Actual figures show some 335 openings, with 173 closings, a net gain of 163 new businesses throughout a seven-county area included in the Southeast Missouri Regional Planning and Economic Development Commission area.

That's a better average than some years over the past decade when more closings were reported than openings.

Cape Girardeau, the business hub of the Southeast Missouri/Bootheel area, was the odds-on leader in new-business activity. The 1999 Cape Girardeau totals revealed 172 business openings, with 149 closings, a net gain of 23 new businesses.

The Southeast Missouri region experienced solid business growth and job creation during 1999, said Ron Steele, economic development planner who keeps up with business activity.

The area did experience some closings in the manufacturing sector, which resulted in job losses of more than 1,400 workers, but many new jobs were created by new businesses and expansion.

Some 1,815 jobs were created by new businesses, and another 569 jobs resulted from expansions, for 2,384 new jobs during the year.

Statewide, employment increased by 36,400 jobs, reaching 2,728,400 in March. Services led the job increase, with more than 18,000. These include jobs in business services, amusement, recreation and social services. However, manufacturing employment was down statewide, by 11,000, with 3,800 of the jobs lost in the aircraft industry.

Victoria's Secret coming to Cape

It's official!

That "store for her that he loves" is coming to Westfield Shoppingtown West Park.

Victoria's Secret, a women's intimate apparel shop group that has swept the nation since it was founded a few short years ago, and was one of the most requested new stores for Westfield, is under construction, and is expected to open this summer.

The new store will be in the center court area.

Victoria's Secret is one of a number of companies owned and operated by Intimate Brands Inc., a specialty retailer of intimate apparel, beauty and personal care products through the Victoria's Secret and Bath & Body Works brands.

Victoria's Secret products are available through more than 850 lingerie stores and catalogs, including 15 stores in Missouri. Victoria's Secret also has outlets at shopping malls in Carbondale, Ill., and Paducah, Ky.

Bath & Body Works products are available in more than 1,100 stores, including West Park Mall at Cape Girardeau, and we understand, via the Internet, that Victoria's Secrets is looking to add as many as 10 new shops this year.

One of them is at Cape Girardeau.

Fred's is here

The 36,000-square-foot former Del Farm Food Store building at William and Sprigg is full.

Fred's, Inc., founded more than a half-century ago, in 1947, is open and will hold its grand opening this weekend.

Fred's, headquartered in Memphis, Tenn., fills about half of the old Del Farm National structure.

The other half of the store is occupied by Save-A-Lot, which moved into there in August.

Fred's, which opened at the site recently, stocks more than 12,000 frequently purchased items, with a merchandising mix of health and beauty aids, paper and cleaning supplies, automotive and hardware, food and beverage, candy, pet supplies, apparel, seasonal items, home decorations and pharmaceutical supplies.

Fred's is a progressive, customer-motivated retail chain with stores in cities and towns throughout the southeastern states. The company consists of 318 Fred's Stores with 180 pharmacies, and 40 freestanding Xpress Pharmacies.

Fred's reported record sales for the first quarter, ending April 29. On a comparable store basis, Fred's comparable store sales rose 9.4 percent for the first quarter, versus the same period last year. Total sales increased 14.1 percent to $176.7 million compared with $154.9 million in the first quarter last year. Retail sales by company stores rose by 14.9 percent while sales to franchise stores were essentially unchanged versus the prior year.

Fred's Inc. operates 322 discount general merchandise stores, including 26 franchised Fred's stores.

The midtown area has been without a grocery or a general merchandise store for more than four years. Schnucks Grocer, was the last to occupy the Del Farm building, operating a grocery market at the site two years before closing.

The midtown area has a lot going for it now, say businessmen of the area, referring to on-going or proposed construction projects, including the new Mississippi River bridge, the new St. Mary Cathedral administration building, the university's River Campus plans, proposed construction of a new federal building, and a new housing development at the old St. Francis Hospital building site.