Monday, February 8, 2016

Chipotle Stores to Open Later on Monday for Worker Meeting

Image result for chipotle Chipotle restaurants across the U.S. are opening later than usual Monday so workers can attend a meeting about the chain's recent food safety scares.

The company says stores will open at 3 p.m. in their local time zones, instead of the usual 11 a.m. Chipotle expects about 50,000 employees to go to more than 400 locations, such as movie theaters and hotel conference rooms, where remarks by company executives will be shown live.. . . more

Three Reasons for E-Tailers to go Brick-and-Mortar

While rumors of Amazon launching a chain of physical bookstores seem to be exaggerated, there is no question that pure-play retailers are beginning to make inroads into the brick-and-mortar channel. Over the past couple of years, e-tailers as diverse as Warby Parker, Bonobos and Birchbox have not only opened stores, but committed themselves to expanding in the space.

Here are a few good reasons for virtual enterprises to consider selling items in a “real” environment.. . . more

American Apparel emerges from bankruptcy

It’s the beginning of a new era at long-suffering American Apparel.

On Friday, the company announced it has emerged from Chapter 11 as a private company after successfully implementing its reorganization plan. The announcement comes days after the Delaware bankruptcy court gave its approval to the plan.. . . more

Holiday returns performance misses mark

Retailers may find themselves banished to the Island of the Misfit Toys if they do not improve their handling of returned holiday purchases.

According to new data from Kurt Salmon, it took an average of 13.3 days for retailers to credit returns to accounts during the 2015 holiday season. This marked an improvement from the prior year’s 16.8 days, but still far from customers’ expectation of about seven days.. . . more

Friday, February 5, 2016

Pricing, Values Poised To Level Off

Image result for commercial real estate acquisitionThe current year is forecast to be a time of more expansion incommercial real estate, just with less of the price appreciation that brought values above 2007 levels in some markets. That’s the top-line summary of the latest edition of the annual “Expectations & Market Realities in Real Estate” report from Situs Real Estate Research Corp., Deloitte and the National Association of Realtors.

“Historically low interest rates, especially in treasuries, combined with commercial real estate’s stable prices and value make this asset an attractive investment,” says Ken Riggs, president of Situs RERC. “Looking into 2016, the commercial real estate market should moderate, which could stabilize prices.”. . . more

J.C. Penney considering the sale of its Plano headquarters

J.C. Penney is pursuing a possible sale and partial leaseback of its headquarters building in Plano as part of an ongoing effort to reduce debt and manage expenses.

So far, Penney’s three-year turnaround has been going as management outlined. Penney had a better holiday season than some of its competitors, but the company has a long way to go before it’s profitable again. Penney and other major retailers will report the holiday quarter later this month.. . . more

Sports Authority Considering Bankruptcy

Image result for sports authority storeSports Authority Inc. is preparing to file for bankruptcy as it faces a default on its debt, sources told Bloomberg. At the same time, the retailer is also working on a deal with bondholders to avoid the filing.

According to the Bloomberg report, Sports Authority is in talks with lenders to reorganize in Chapter 11 bankruptcy proceedings. The potential restructuring would entail the closing of as many as 200 of its more than 450 stores in reorganization, sources said. . . . more

Rite Aid shareholders approve Walgreens Boots Alliance merger

Rite Aid stockholders have voted to approve the proposed merger with Walgreens Boots Alliance, the Pennsylvania retailer announced Thursday morning.

The merger, which is expected to be completed in the second half of calendar 2016, is subject to the satisfaction of certain remaining customary closing conditions.. . . more

Thursday, February 4, 2016

Mayor Walsh loves big brands like Target; Chick-fil-A, not so much

Chick-fil-a is opening a new site at 503 W. Martin Luther King Jr. Blvd. near the University of Texas.Boston Mayor Martin J. Walsh is open to more development of national retail brands — as long as those companies are good corporate and philanthropic partners to the city. Take note, Chick-fil-A.

During an editorial board meeting Thursday at the Business Journal's offices, Walsh spoke favorably of Target — whose CEO Brian Cornell told a Boston audience Wednesday that the Minneapolis-based chain’s 160,000-square-foot Fenway store is a “crown jewel” — as well as the company's positive treatment of employees and its philanthropic influence in the city.. . . more

Dunkin’ faces challenges from McDonald's all-day breakfast, other offerings

A customer enters at a Dunkin' Donuts store in New York, U.S., on Wednesday, July 25, 2012. Dunkin' Brands Group Inc. is scheduled to release earnings data on July 26. Photographer: Scott Eells/Bloomberg
Dunkin’ Donuts is under renewed pressure in the U.S., facing competition sparked by McDonald’s all-day breakfast campaign and the resulting "price war."

CEO and chairman Nigel Travis told analysts Thursday after its latest quarterly financial results were released that Dunkin’ Brands is pressing ahead with its turnaround efforts, but it is still facing some challenges. Its fourth quarter may have been a manifestation of those ongoing problems, with comparable store sales down 0.8 percent in the U.S., compared to the same quarter last year.. . . more

Retailers Pare Store Counts as Landlords Brace for Bumpy Transition

The holiday shopping period of 2015 ended with same-store salesthat ticked up 3.3 percent, according to the SpendTrend report from First Data, a firm that provides technology solutions for commerce transactions, and while an increase is still a win, the season could have been a lot more jolly for retailers.

It came as no surprise, then, when about 30 retail chains, including Office Depot/Office Max (400), Walmart (154) and Macy’s (36) announced a total of 2,282 store closings for 2016 and beyond, according to a roundup from About Money. In the larger picture, however, the store closing estimates for 2016 underscore the idea that retailers know which locations no longer contribute to the success of the company, well before the jingle of holiday bells.. . . more

U.S. retail and consumer M&A value at five-year high in 2015

The year 2015 was a big one for mergers and acquisitions in the retail and consumer sectors, with 31 multibillion dollar deals driving activity during the year.

United States  retail and consumer (R&C) total transaction value for 2015 hit a five-year high and surpassed the $100 billion mark for the third year in a row, according to PwC’s U.S. retail and consumer deals insights 2015 Year in Review and 2016 Outlook report.

The transaction value for announced deals greater than $50 million was $238 billion, up 23% from $194 billion in 2014, the report said.. . . more

Michaels Buys Pat Catan's for $150 Million

PATCATANS.COMIt may indeed be the end of an era as Michaels Companies Inc. announced Tuesday (Feb. 2) that it had bought Pat Catan’s parent company, Lamrite West Inc. for $150 million.

 There are more than 30 Pat Catan’s locations in Ohio, Pennsylvania, Michigan, West Virginia and Indiana. . . . more

First Look: CVS Pharmacy in Target

Image result for cvs target store north carolinaThe conversion of Target’s in-store pharmacies and health clinics to CVS Pharmacy and Minute Clinic has begun.

The first of the new store-within-a-store concept showcasing the CVS Health and Target partnership went live Wednesday morning in the Charlotte, North Carolina, market.

Teams from Target and CVS Health will spend the next six to eight months converting all of Target’s 1,672 pharmacies and 79 clinics nationwide to CVS Pharmacy and Minute Clinic locations.  . . . more