Wednesday, September 2, 2015

Survey: Top 5 small fast-casual chains

Image result for Roxy's Gourmet Grilled CheeseZagat, the New York-based inventor of crowd-sourced restaurant reviews, has turned its attention to small fast-casual chains.

The publisher of numerous Zagat Surveys, which tabulate reviews by the public on a 30-point scale, asked its audiences in 15 U.S. cities and Toronto to rate chains selected by its editors.. . . more

A case that Costco and other warehouse clubs have transformed retail more than Amazon

From the arrival of e-books and digital music in the 1990’s to the recent explosion of online subscription services such as Stitch Fix or Birchbox, it’s easy to see just how dramatically e-commerce has changed our shopping routines.

And yet, according to new research, there’s another shopping trend that has had an even more transformative effect on the retail industry during the last two decades: The rise of Costco, Sam’s Club and other warehouse clubs.. . . more

7-Eleven to offer delivery service in Boston

7-Eleven Inc. bases its value proposition on being a convenient way of purchasing food and CPG staples. But for consumers who are too time-strapped to even make a quick visit to their nearest 7-Eleven store, the retailer is offering a new omnichannel delivery service.

7-Eleven and omnichannel delivery provider DoorDash are partnering to provide on-demand delivery from participating 7-Eleven stores in New York, Los Angeles and Chicago, with delivery service following in Washington, D.C. and Boston in the coming months.. . . more

Dollar Tree merger good for sales, but related costs hammer earnings

Dollar Tree swung to a loss in its second quarter on higher integration costs related to its acquisition of a formal rival. But its revenue skyrocketed as a result of the merger.

Revenue rose 48.3% to $3.01 billion, less than expected, with Family Dollar contributing $811.6 million to the top line.

Same-store sales, excluding the contribution from Family Dollar, increased 2.7%, also less than expected. It was Dollar Tree’s 30th consecutive quarter of positive same-store sales.. . . more

Build-A-Bear Workshop updating store format, business model

The Build-A-Bear Workshop store at Mall of America is the third location to open in the new design, with a total of 11 stores planned in the format by the end of 2015. The retailer expects to value-engineer components of the store as it moves from prototype to a standardized model in order to systematically update existing locations and open new doors over the next few years.

The new store design is one of many elements that Sharon Price John, who became CEO In 2013, and her executive team have incorporated into Build-A-Bear’s brand refresh strategy, designed to elevate the brand to better cater to millennials and other target audiences.. . . more

Tuesday, September 1, 2015

Denali opens at Westfield Trumbull mall with Grand Opening Saturday

DenaliDenali announces the opening of its newest store located at Westfield Trumbull, 5065 Main St., across from the Cheesecake Factory. The Grand Opening will run from noon-3 p.m., on Saturday, Sept. 5, with festivities including a climbing wall, games for all ages, prizes, refreshments, gifts with purchases, demonstrations, and raffle items from several outdoor brands.

Denali, along with the Trailblazer stores, forms a family of independent outdoor retail destinations in southern Connecticut and Rhode Island. . . . more

Big Lots Q2 beats Street; announces exec promotions

Big Lots reported second-quarter profit and revenue that beat analysts' estimates. The retailer also announced several promotions as part of a realignment of its supply chain management.

Big Lots’ net income dropped 13% to a better-than-expected $17.63 million from $19.94 million, with loss from discontinued operations cutting otherwise flat profit.

Net sales for the quarter increased 1% to $1.21 billion, from $1.19 billion. Same-store sales rose 2.8%.. . . more

One of Apple's first 'next-generation' US retail store designs will debut near Memphis

With Apple chief designer Jony Ive and retail head Angela Ahrendts collaborating on major changes to their company's retail experience, a first glimpse of what's to come may debut at a relocated Apple Store near Memphis, Tenn., it was revealed this week.

Early plans for the new store, located to the east of Memphis, were approved by the local design review commission last week, according to the Memphis Daily News. In his presentation, Apple representative Rick Millitello called the project "the next generation of retail store that we're rolling out," saying it would be one of the first of its kind in the U.S.. . . more

Dick’s Sporting Goods on the move again

The retailer plans to open three new stores Sept. 11. Two of the stores will be located in Alabama and one in Arizona.

Dick’s will open its 13th and 14th stores in Alabama at the Shoppe at Legacy Park in Tuscaloosa and Cullman Shopping Center in Cullman, and ninth store in Arizona at Wilmot Plaza in Tucson. Dick’s will have 628 stores across the U.S. with these openings.. . . more

Hudson Trail Outfitters closing all stores

Hudson Trail Outfitters CEO Sandy Cohan announced Monday in a blog post that the outdoors retailer would be closing all of its stores.Gaithersburg-based Hudson Trail Outfitters Ltd., one of Washington’s oldest retailers, is calling it quits, blaming the changing retail landscape.

Hudson Trail Outfitters Ltd. opened its first store in Washington in 1971, with stores now on Wisconsin Avenue and in Pentagon Row, Fairfax and Rockville.. . . more

Forever 21 Rethinks Its Love of Giant Stores

Fast-growing teen retailer Forever 21 Inc. is sounding out landlords about downsizing some of its biggest stores, according to people familiar with the matter.

Forever 21, which discloses little about its finances, has predicted that sales would rise 10% this year to $4.7 billion. But people familiar with the company say its sales and profit have tapered off after years of strong growth. The company has stumbled by expanding into cavernous stores that it had trouble filling productively, they said.. . . more

US construction spending reaches highest level in 7 years

U.S. construction spending in July climbed to its highest level in more than seven years, boosted by an increase in the building of houses, factories and power plants.

The Commerce Department said Tuesday that construction spending rose 0.7 percent to a seasonally adjusted annual rate of $1.08 trillion, the highest level since May 2008. The report also revised up the June increase in construction spending to 0.7 percent from 0.1 percent previously.. . . more

Copley Place mall renovations to start this month as part of $500M project

Simon Property Group (NYSE: SPG) this month will start its renovation of the retail portion of Copley Place, the high-end retail center in Boston's Back Bay. The interior retail work is a part of Simon's $500 million, 1.96 million-square-foot expansion of Copley Place, which includes new 52-story, 542-unit residential tower that's currently under construction.Simon Property Group this month will start its renovation of the retail portion of Copley Place, the high-end retail center in Boston's Back Bay.

The renovations will include physical upgrades such as new flooring and ceiling treatments, upgraded escalators and glass handrails and an upscale food court component.. . . more

Monday, August 31, 2015

Department stores duke it out over these shoppers

A Sephora store inside a J.C. Penney From the Internet superhighway to the luxury shopping streets, and from low-price drug stores to airport travel shops, it's never been easier for consumers to snatch up beauty products on the go.

But while such an array of choice is good news for shoppers, the outcome hasn't been as positive for department stores, which used their role as a one-stop shop to lure in customers.

Now, after losing market share to a swath of competition over the past 10 years, the department store set is clawing back for a bigger slice of the beauty business.. . . more

Ulta roars ahead in Q2; on track to open 100 stores and launch TV advertising

Fast-growing Ulta Beauty shows no signs of losing its momentum as the specialty retailer reported better than-expected results for the second quarter and raised its guidance.

Same-store sales rose 10.1% (with online sales representing 120 basis points of the total), compared to an increase of 9.6% last year.

As previously announced, Ulta expects to open 100 stores in 2015 and drive comparable sales in the range of 8% to 10%.. . . more

Michaels looking good in Q2

Better timing of distribution expenses, the elimination of operating costs of 40 shuttered stores and an improved merchandising strategy helped drive sales growth at Michaels in the second quarter.

Net sales increased by 4% to $984.3 million, from $948.2 million. Same-store sales increased by 1.6%. The impact of a strong dollar on currency exchange rates negatively affected both results.. . . more

Boston’s booze problem: License limits hurt entrepreneurship, neighborhoods

Image result for liquor licenseB y nearly every assessment, Boston’s restaurant scene is thriving. Great chefs are launching new ventures serving a range of food unprecedented for the city.

But by one measure, the sector has a big problem: Opening a restaurant in the city’s most-prosperous neighborhoods increasingly is an option only for restaurateurs with deep financial backing. That’s because in addition to the cost of ingredients, rent and staff, any restaurant entrepreneur aspiring to operate in most of Boston’s hottest neighborhoods needs to come up with the money to buy a liquor license — an expense that over the past year or so has hovered just shy of $400,000 and has been formidable since the city hit its state-imposed license cap decades ago.. . . more

Friday, August 28, 2015

Burlington Stores swings to profit, plans 25 net new stores

Image result for burlington coat factoryBurlington Stores Inc. swung to a net income of $10.9 million in the second quarter of fiscal 2015 from a net loss of $6.47 million the same quarter of last year.

Net sales rose 10% to $1.14 billion from $1.04 billion, while same-store sales grew 5.6%.
Burlington plans to open a net of 25 new stores by the end of the fiscal year, including 22 store openings and one closing in the third quarter.. . . more

Macy’s dives into discount market

The first Macy’s Backstage store is set to next week in the  Queens borough of New York City. It will  offer such items as children’s shoes and designer women’s clothing at substantial discounts.Macy’s has an answer to T.J. Maxx and other stores that sell deeply discounted designer brands.

The department store chain, which is set to open its ‘‘Macy’s Backstage’’ discount stores this fall in the New York City area, gave the Associated Press an early look at one of the new outlet stores.

The store, opening next week in Queens, is about the size of a T.J. Maxx and offers Calvin Klein, Sunglass Hut, and many of the other designer brands.. . . more

Walgreens Steps Up Retail Clinic Expansion As Demand For Convenient Care Grows

Image result for walgreens clinicAs selling medicines become less profitable, pharmacies have been looking for new avenues for growth. Most of the top pharmacy chains in the U.S. are, therefore, increasing focus on selling beauty products and also remodeling stores in the process. Drug retailers have found another source of growth in retail health clinics, which have been proliferating across the U.S. for the last few years. Walgreens currently has 400 healthcare clinics spread throughout the country. Walgreens currently has 400 healthcare clinics spread throughout the country. CVS Health, on the other hand, is far ahead in the race with about 1,000 clinics and plans to further expand to 1,500 clinics by 2017. In an attempt to narrow this gap down, Walgreens recently announced a collaboration with Providence Health and Services through which new clinics will open at Walgreens stores, but will be owned and operated by Providence and its affiliates.. . . more