Friday, February 26, 2021

As restaurants recover, their success formula will change

Restaurant Dive
There's a light at the end of the tunnel for the restaurant industry, analysts with global advisory firm Duff & Phelps say in a report. . . . more

Ruby Tuesday emerges from bankruptcy

Restaurant Dive
Ruby Tuesday announced Wednesday that it has emerged from Chapter 11 bankruptcy protection. The bankruptcy allowed the casual chain to "shed liabilities, including leases from closed locations that were significantly impacted by COVID-19, and to strengthen its core business of 209 corporate-owned and operated locations," according to a company release. . . . more

Hooters' fast casual chain Hoots Wings signs first franchise deal

Restaurant Dive
Hoots Wings, Hooters' fast casual concept, struck a 60-unit franchise deal with Dallas-based AE Restaurant Group, according to a press release. This is the chain's first franchise agreement since parent company HOA Brands announced in December it would expand Hoots Wings through franchising. . . . more

Victoria's Secret to close as many as 50 more stores this year

Retail Dive
L Brands on Wednesday reported that fourth quarter net sales rose 2.4% to $4.82 billion as comps rose 10% (up 22% at Bath & Body Works and down 3% at Victoria's Secret). E-commerce at Bath & Body Works rose 74% and at Victoria's Secret rose 33%, according to a company press release. . . . more

Best Buy earnings top Street but sales growth slows; cites ‘uncertainty’ as spending shifts

CSA
Best Buy Co.’s fourth-quarter earnings topped expectations but its revenue fell short as sales growth started to slow from earlier in the pandemic. . . . more

Amazon opens 10th high-tech Amazon Fresh grocery store

CSA
Amazon is continuing to expand its high-tech grocery format with a new location in California. . . . more

Sephora to open 60-plus freestanding U.S. stores in 2021

CSA
Sephora is embarking on the largest store expansion plan in its 21-year history in the United States. . . . more

Thursday, February 25, 2021

How 7-Eleven became the world’s biggest convenience store

CNBC Business
7-Eleven, home of the 50-ounce Double Gulp and the Pina Colada Slurpee, has helped revolutionize the way we shop at convenience stores. . . . more

Target to open mini Apple shops inside 17 stores in latest move to woo customers

CNBC Business
Target wants to give shoppers another reason to skip trips to the mall: It’s adding mini Apple stores to some locations, with more space devoted to iPhones and other popular gadgets. . . . more

88% of restaurants considering swapping to digital menus, survey says

Restaurant Dive
Seventy-six percent of restaurants said they will continue offering contactless tech this year, according to Square's Future of Restaurants 2021 report, which includes findings from a survey of 500 operators. . . . more

Tuesday Morning, Casper, Vince on S&P's latest 'most vulnerable retailers' list

Retail Dive
S&P Global Market Intelligence included Tuesday Morning, which went through a Chapter 11 restructuring last year, in its latest monthly list of the most vulnerable retailers. . . . more

Kroger Data Breach Now Includes Sensitive Consumer Info

Progressive Grocer
Kroger has reported a data breach that could include social security numbers of customers who use the grocer's pharmacy services. . . . more

Pandemic Category Sales Poised to Outlast Pandemic

Progressive Grocer
A year after COVID-19 paralyzed the nation, shoppers are still buying a lot of face masks, hand sanitizer and household cleaner, and demand in those categories shows no signs of easing. . . . more

Japanese Retailer PPIH to Acquire Gelson's Markets

Progressive Grocer
Japanese retailer Pan Pacific International Holdings (PPIH) has entered into a definitive agreement to acquire Gelson’s Markets, signaling a possible period of accelerating growth for the upscale California grocery chain. . . . more

Wednesday, February 24, 2021

How to Improve Your C-Store Security

CStore Decisions
While certain crime significantly increased over the last year, robberies were reported to decrease by 7.1 percent in the first half of 2020. . . . more

TJ Maxx Parent’s Store Closures in Q4 May Have Caused $1.05 Billion in Lost Sales

Footwear News
The TJX Companies Inc. fell short of earnings and sales expectations as renewed COVID-19-related restrictions kept many of its stores closed during the fourth quarter. . . . more

Fry's Electronics suddenly went out of business

CNN Business
Fry's Electronics suddenly closed all of its stores overnight, ending a nearly four-decade run in business. . . . more

Covid live updates: CVS to offer vaccines in six more states; stay-at-home DIY trend could ease

CNBC Business
The United States is set to see a substantial boost in Covid-19 vaccines shipped out and ready to administer in the coming weeks. Executives from Pfizer and Moderna told Congress on Tuesday the drugmakers are preparing to nearly double their current output. And on Wednesday, Food and Drug Administration staff endorsed Johnson & Johnson’s one-shot vaccine, clearing the path for an emergency use authorization as soon as this week. A J&J executive said once the drug is authorized, the company would be ready to ship more than 20 million doses by the end of March. . . . more

Estée Lauder to acquire beauty retailer Deciem in $1 billion deal

CSA
The Estée Lauder Companies Inc. has agreed to buy a majority stake in indie beauty brand Deciem Beauty Brand Group Inc. . . . more

Skincare company Heyday wants to open ‘hundreds of stores’ in next five years

CSA
Heyday plans to ramp up its brick-and-mortar expansion via franchising. . . . more

Lowe’s Q4 tops Street as sales jump 27%; cites broad demand across all departments

CSA
Lowe’s Cos. reported fiscal fourth-quarter profit and sales that beat expectations as spending on home projects continues to surge amid the pandemic. . . . more

Tuesday, February 23, 2021

Movie theaters in New York City can open in March at 25% capacity

CNBC Business
After nearly a year of closures, New York City cinemas will be permitted to open on March 5, Gov. Andrew Cuomo said Monday. . . . more

Home Depot tops estimates as sales surge 25%, but shares fall on worries pandemic gains won’t last

CNBC Business
Home Depot’s fourth-quarter earnings surged past investors’ expectations as consumers poured more money into home improvement due to the pandemic and strength of the real estate market. . . . more

What big-box retailers have to gain from DTC brands

Retail Dive
Scattered among the CPG mainstays at a Walmart or Target are a crop of direct-to-consumer brands. . . . more

Subway streamlines global payment infrastructure

CSA
Subway is connecting franchisees to universal payment software. . . . more

Macy’s posts first profitable quarter in a year on strong holiday, digital sales

CSA
Macy’s Inc. ended a year of “unprecedented disruption” on a very upbeat note, topping Street estimates and reporting quarterly sales improvements across all three of its brands. . . . more

Bloomin' Brands takes virtual brand Tender Shack national

Restaurant Dive
Bloomin' Brands has rolled out its virtual brand, Tender Shack, nationwide through a partnership with DoorDash, according to a press release emailed to Restaurant Dive. . . . more

Steak 'n Shake dodges bankruptcy, sues lender for alleged takeover scheme

Restaurant Dive
Steak 'n Shake on Friday repaid the remaining balance of the $220 million loan it owed its debtors, including Fortress Investment Group, Bloomberg reported Monday, citing people with knowledge of the payment. By paying off its debt, which had been reduced to $153 million and was due March 19, the burger chain avoided a potential Chapter 11 bankruptcy filing, which it had been preparing for with advisers FT Consulting Inc. and Latham & Watkins while negotiating its debt with Fortress. . . . more

Monday, February 22, 2021

Nearly Half of Americans Expect COVID-19 Shopping Habits to Be Permanent — Here’s What Changed

Footwear News
Over the past year, the COVID-19 pandemic has led to a spate of changes in consumer preferences, from tighter budgeting for discretionary expenses to the accelerated adoption of digital platforms. Now, a new study suggests that those habits might have been altered for good. . . . more

The running list of 2021 retail bankruptcies

Retail Dive
The pace of bankruptcies in retail hit a high-water mark last year, after years of elevated filings that tracked with a major shakeout in the industry. . . . more

Noodles & Company plots multi-unit franchise expansion

Restaurant Dive
Noodles & Company is seeking multi-unit franchise partners to grow its footprint in the South and Southwest, according to a company release. The chain is targeting Alabama, Florida, Georgia, New Mexico, South Carolina and Texas, specifically. . . . more

Massachusetts to open 2 more mass vaccination sites

Westport News
Massachusetts is opening two additional mass vaccination sites this month, in Natick and Dartmouth, as the state ramps up its effort to distribute the COVID-19 vaccine, Gov. Charlie Baker said Wednesday. . . . more

Walgreens to receive 480,000 COVID vaccines a week

CSA
Walgreens Boots Alliance has administered more than 3 million COVID-19 vaccinations across long-term care facilities and other identified vulnerable populations. And now its in-store efforts are ramping up. . . . more

Walmart just boosted pay to $15. It's not what you think

CNN Business
Walmart announced pay bumps Thursday that will bring its average hourly wage to over $15 an hour. But the move still falls short of the $15 minimum wage announced by some of its largest competitors. . . . more

Tanger Outlets says foot traffic is back to normal

Retail Dive
Tanger Outlets this week said that in January, footfall at its U.S. shopping centers returned to pre-pandemic levels, thanks to their outdoor orientation and value proposition. . . . more

Friday, February 19, 2021

Why an emboldened Walmart is looking to beyond retail for future growth

CNBC
Walmart wants to tap what it sees as its greatest asset: its reach. . . . more

Why mall landlord Westfield is leaving the US

CSA
In the U.S., an increasing number of retailers have decided to leave the traditional mall. Now one mall owner, Unibail-Rodamco-Westfield, is leaving the U.S. . . . more

Under Chicken Salad Chick drives expansion in new market

CSA
Chicken Salad Chick is growing its footprint in Indiana. . . . more

Ulta Beauty to open its second Manhattan store — in Herald Square

CSA
Ulta Beauty will open its second store in the Big Apple in one of the city’s most prominent retail corridors. . . . more

Giant to open two-level flagship in downtown Philadelphia

CSA
The Giant Company is expanding its portfolio in the City of Brotherly Love. . . . more

Thursday, February 18, 2021

Report: Loyalty customers spend more than twice as much on takeout meals

Restaurant Dive
Diners who are members of loyalty programs spent more than twice as much on takeout in 2020 than those who are not part of a loyalty program, according to a report from Paytronix Systems, done in partnership with PYMNTS.com. . . . more

P&G's Old Spice to open first barbershop

CSA
Old Spice, the men's grooming brand marketed by Procter & Gamble, next month will open its first barbershop that will also serve as a digital content studio, retail store and test lab to help develop new products. . . . more

Retail sales increased sharply in January, with gains across the board

CSA
Retail spending  rose well ahead of expectations in January, boosted by a new round of stimulus checks. . . . more

Neiman Marcus and JCPenney Are Among the Texas Retailers Forced to Close Stores as Winter Weather Deals $50B Economic Blow to Southern US

Footwear News
Neiman Marcus and JCPenney are adding their names to the growing list of Texas-based firms feeling the impact of treacherous winter weather that has lead to nearly two dozen deaths and dealt a heavy economic blow to the area. . . . more

2020 Was Wingstop's Year

Restaurant Business
It’s clear Wingstop CEO Charlie Morrison isn’t losing much sleep over the recent proliferation of delivery-only chicken wing brands. . . . more

Wednesday, February 17, 2021

Study: Top priorities for grocery shoppers post-pandemic will be…

CSA
Shopping and eating behaviors dramatically changed last year, and many shoppers plan to continue at least some of their new habits post-COVID-19. . . . more

Old Navy leases 13,000 s/f at Garden City Center

NEREJ
Old Navy is coming to Garden City Center in 2021, joining its Gap, Inc. sister stores, Athleta, Banana Republic, and Gap at Rhode Island’s premiere outdoor shopping center. . . . more

Best Store Design Awards: Davis Oil

CStore Decisions
Headquartered in Battle Creek, Mich., Davis Oil is a third-generation family-owned company with 20 c-stores in Michigan that operate under the ‘C-Store’ banner. . . . more

Tractor Supply acquires 167-store Orscheln Farm and Home

CSA
Tractor Supply Company is expanding its footprint in the Midwest through an acquisition. . . . more

One year later: How COVID-19 upended retail and what it means for 2021

Retail Dive
This time last year, U.S. retailers could only guess how the rapidly spreading coronavirus would impact operations. . . . more

Joann files for IPO

CSA
Joann is leveraging the surge in arts-and-crafts amid the pandemic to file to go public. . . . more

Ahold Delhaize sets ambitious sustainability, health goals

CSA
Supermarket conglomerate Ahold Delhaize USA is unveiling a detailed strategy to provide healthier products with a more sustainable supply chain. . . . more

Tuesday, February 16, 2021

9 Retailers That Could Get a Boost From a New Round of Stimulus, According to Analysts

Footwear News
Another round of fiscal stimulus could give a much-needed lift to a range of retailers as the persistent COVID-19 health crisis continues to slam the sector into the new year. . . . more

Five Below to open 170 to 180 stores in 2021

SOURCE
Five Below isn’t letting the pandemic stop its national expansion. . . . more

Swiss chocolatier to assume leases of 34 U.S. Godiva stores

CSA
Läderach – chocolatier suisse is expanding its fledgling U.S. footprint. . . . more

Friday, February 12, 2021

Walmart steps up reusable plastic container packaging for fresh produce

Supermarket News
Walmart has entered a multiyear pact to package fresh produce in reusable plastic containers (RPCs) from IFCO Systems. . . . more

WSJ: Best Buy cuts jobs, hours for some store workers as it pivots to digital

Retail Dive
Best Buy told employees it was reducing jobs and hours for an unspecified number of store workers, according to a Wall Street Journal report. . . . more

Captain D’s to open 15 new locations; launching new ‘Express’ format

CSA
Captain D’s is looking to expand its footprint via a new format. . . . more

Bed Bath & Beyond begins $250 million tech program with ERP upgrade

CSA
Bed Bath & Beyond Inc. is selecting Oracle as its enterprise resource planning (ERP) technology provider. . . . more

Dick's Sporting Goods expands clearance store concept

Retail Dive
Illustrating that the athletics retail market is not slowing down, Dick's Sporting Goods is opening five new locations this month, according to a company press release. . . . more

Nike brings ‘Live’ store format to its birthplace

CSA
Nike has expanded its small-format Nike Live retail concept to its birthplace of Eugene, Ore. . . . more

Retail sales to rise 8.1% in 2021, according to CGP forecast

CSA
Retail sales in 2021 will increase to a record $4.26 trillion, up 8.1% year-over-year, which is the highest this century. . . . more