BUSINESS BRIEFS
Sports Authority on Ward to expand
Advertiser Staff and News Services
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Big-box retailer Sports Authority plans to get bigger at Ward Centers, assuming space to be vacated by the relocation of two adjacent stores, Pictures Plus and Marukai 99 Store, in the next few months.
The moves will allow Sports Authority to expand its 42,661-square-foot store by 17,000 square feet and add more merchandise to the store on Ward Avenue.
Pictures Plus plans to move to nearby Ward Warehouse in April, while Marukai 99 plans to move to Ward Farmers Market this spring. Sports Authority anticipates incorporating the extra space into its store by late summer.
In other changes at the Ward retail complex owned by General Growth Properties, Blazin' Steaks plans to open at Ward Warehouse this spring, and Taco Del Mar plans to open at Ward Centre in July. Women's boutique shop Misfortune plans to reopen next month under new ownership in the same Ward Centre spot.
5 LOCAL STOCKS HIT 52-WEEK LOWS
Five of Hawai'i's nine publicly traded companies saw their shares fall to 52-week lows yesterday as the broader market tumbled. The Dow Jones industrial average closed at its lowest level since 1997.Hawaiian Electric Industries Inc., which Thursday reported a sharp drop in fourth-quarter earnings, touched a 52-week low of $16.22 during the session. Shares closed down $1.41 at $16.28.
In other trading:
• Central Pacific Financial Corp. shares changed hands as low as $4.60 before closing at $4.69, down 69 cents.
• Shares of Bank of Hawaii Corp. hit a low of $30.01 before closing down 62 cents at $31.87.
• Alexander & Baldwin shares closed up 8 cents at $19.76 after hitting a 52-week low of $19.20 in midday trading.
• Shares of Hoku Scientific Inc. touched a low of $1.93 before edging back to close up 5 cents at $2.05.
AVERAGE HAWAI'I GAS PRICE UP 3 CENTS
The average price of a gallon of gasoline statewide rose 3 cents this week, AAA Hawaii reported yesterday.A gallon of regular averaged $2.42, up from $2.39 the previous week, the AAA said in its Hawaii Weekend Gas Watch.
In Honolulu, the average price was $2.35 a gallon, up 3 cents from last week. The Honolulu average was up 10 cents from a month ago.
In Hilo, the average price was $2.50 a gallon, up 3 cents from a week ago. It was 10 cents higher than a month ago.
The average price in Wailuku of $2.56 a gallon was up 4 cents from last week. It was up 7 cents from a month ago.
NAVY SEMINAR DRAWS 43 BUSINESSES
The Navy reported a strong turnout for a seminar this week that helped teach companies how to compete for federal contracts.A total of 43 large and small businesses attended the event hosted by the Naval Facilities Engineering Command Hawaii Small Business Division. The event, held Tuesday at the Navy Service Center at Moanalua Shopping Center, provided training on both the Department Defense and the Small Business Administration's Mentor Protégé Programs.
