Allied Stores Corp. is focusing its 1982 growth plans on the stores acquired by taking over Garfinckel, Brooks Brothers, Miller & Rhoads Inc., the company's chief executive said today.
In a presentation at Allied's annual stockholders meeting, Thomas M. Macioce said the company plans this year to open five Brooks Brothers stores, four Ann Taylor shops and three new Catherine's Stout Shoppes--all part of the Garfinckel operation that Allied bought last year.
The only other expansion set for Allied's two-dozen retail chains will be at Plymouth Shops, the women's specialty store group that opened its first Washington-area stores a few months ago.
The Allied expansion is designed to build the company's most profitable divisions, Macioce said, with an eye toward improving Allied's appeal to wealthier consumers, particularly working women.
"We have reoriented our merchandising effort to serve this upscale consumer," he said. "We are upgrading the look and quality of everything we sell. There is a total dedication to fashion, which is absolutely essential to meet the fashion needs of the 1980s woman."
After the meeting, Macioce told reporters that the company is moving to consolidate a number of its operations, emphasizing the "effective interchange of information" the company stressed in its annual report. He gave few details, although he pledged that the consolidation of operations would continue over the next two years.
Macioce also said the Bonwit Teller operations, which the company acquired in 1979, have been losing money since the purchase, though Bonwit's provides about 15 percent of the company's sales.
Macioce predicted little improvement in overall operations until the second half of 1982, after a flat first quarter when sales, excluding the Garfinckel's operations, rose by only 4.4 percent. Profits for the quarter dropped to 12 cents a share from 63 cents a share for 1981.
Although he said that "sales trends have improved since the close of the first quarter," in light of "continuing weakness in the economy and a lack of strength in consumer confidence, we doubt there will be any meaningful improvement in the climate for retailing until the second half of the year."