Friday, June 28, 2013

Kroger CEO David Dillon: We're not done growing

The Kroger Co. has narrowed its list of potential expansion markets to "a handful" of areas, Chief Operating Officer Rodney McMullen said at Kroger’s annual meeting Thursday.

McMullen said in an interview with WCPO Digital that Kroger wants to expand into markets where acquisitions or new store construction will be used to broaden the company’s geographic reach.. . . more

Hobby Lobby cleared to challenge federal birth control mandate

Hobby Lobby has received permission from the 10th Circuit Court of Appeals in Denver to continue its challenge of the federal mandate requiring for-profit employers to offer certain types of birth control coverage as part of their employee health care plans.

Hobby Lobby will continue its arguments in the U.S. District Court for the Western District of Oklahoma that providing federally mandated coverage for what are commonly known as “morning after” and “week after” pills violates the religious beliefs of David Green, founder and CEO of the company, and his family, and that exemption from the mandate should be extended beyond non-profit religiousmore
groups. . . .

Tax agreement for Kohl’s

A tax increment financing agreement that the Barnstable town council approved for the new Kohl’s department store and Southwind Plaza owner OCW Retail last week will amount to about $100 a month over 20 years out of a total $26,363 in net tax gain.

Kohl’s is expected to open in October and Whole Foods is slated to go into the former Borders store at an undetermined date. . . . more

Qdoba begins shuttering units including Boston

Nine Qdoba Mexican Grill locations were scheduled to close Thursday, and another 36 units are expected to shutter Friday across the country as part of a plan to remove underperforming restaurants.

Restaurants are scheduled to close in the Chicago, Southern California, Boston, Cincinnati, Ohio, New York City, Florida and Tennessee markets.. . . more

Sports Authority CEO Darrell Webb retiring


Darrell Webb has retired as chief executive officer of Englewood-based Sports Authority, two years after he took the position.

The sporting-goods retailer named board member Michael Foss to replace Webb. Foss previously served as executive vice president and chief financial officer of Petco Animal Supplies.. . . more

Papa Razzi shutting down in Chestnut Hill: Last day Sunday

Papa Razzi in Chestnut Hill on Route 9 is slated to close on Sunday. 



After 25 years in the Mall at Chestnut Hill, Papa Razzi will serve its last pasta dish on Sunday.

The 4,000-square-foot restaurant’s lease has run out and they could not come to terms on a new one with the Simon Property Group, the mall owner, according to Cameron McManus, the eatery’s manager.. . . more

Landlords...Know These Growing Food Chains!

Firehouse subs
Retail real estate landlords with vacancies, listen up!

As you probably know, restaurants are one of the hottest expanding categories right now, and Nation's Restaurant News has issued its of list of the top 10 growing chains in the country.. . . more

Thursday, June 27, 2013

Cerberus Bids for Harris Teeter Grocery Chain

Cerberus Capital Management LP has made a bid for Harris Teeter Supermarkets Inc. and is considering a structure in which a part of the East Coast grocery chain would remain publicly traded, according to a person familiar with the matter.

Harris Teeter, a supermarket chain with around 200 stores, has been exploring a potential sale for months. Cerberus earlier this year acquired several grocery chains from Supervalu Inc. and is looking to further expand in the grocery business.. . . more

Brick-and-mortar sales soar is spring

Brick-and-mortar retail sales soared during this past spring, according to new metrics from RetailNext. Using its in-store analytics platform to collect metrics on millions of shopping trips to department stores and specialty retailers nationwide, RetailNext studied and released its analysis of traffic, conversion, sales, and average transaction values (ATV) for the spring season, including the four holidays of Easter, Mother’s Day, Memorial Day and Father’s Day, as well as the days leading up to Father’s Day and Easter Sunday.

Following is a summary of the findings:
. . . more

Bed Bath & Beyond has dreamy Q1

Bed Bath & Beyond Inc. reported positive financial results for the first quarter of fiscal 2013. Net sales for the fiscal first quarter of 2013 were approximately $2.6 billion, an increase of approximately 17.8% and comparable store sales in the fiscal first quarter of 2013 increased by approximately 3.4%.

During the fiscal first quarter, the Company opened four Bed Bath & Beyond stores, two World Market stores, one buybuy Baby store and one Harmon Face Values store and closed one Christmas Tree Shops store. . . . more

Zimmer strikes back again

George Zimmer, the founder and executive chairman of Men’s Wearhouse who was stripped of his executive chairman title last week and has been engaging in a war of words with the retailer ever since, continued his verbal battle in an open letter released on June 26.

"To justify their actions, they now have tried to portray me as an obstinate former CEO, determined to regain absolute control by pushing a going private transaction for my own personal benefit and ego," Zimmer said in the statement. "Nothing could be further from the truth.". . . more

Caesars gambles on credit

Despite its precarious financial health, Caesars Entertainment remains confident it will pass state Gaming Commission background checks as part of its partnership’s bid to build a $1 billion resort casino at Suffolk Downs.
The largest U.S. casino owner has $21 billion-plus in debt and racked up losses of $1.5 billion and 
$687.6 million in the past two fiscal years. And when South Korea last week rejected a license for a $500 million casino in which Caesars had a 40 percent stake, Reuters reported Caesars’ credit rating as a reason.
- See more at: http://bostonherald.com/business/business_markets/2013/06/caesars_gambles_on_credit#sthash.uqumTQyK.dpuf


Despite its precarious financial health, Caesars Entertainment remains confident it will pass state Gaming Commission background checks as part of its partnership’s bid to build a $1 billion resort casino at Suffolk Downs.

The largest U.S. casino owner has $21 billion-plus in debt and racked up losses of $1.5 billion and 
$687.6 million in the past two fiscal years. And when South Korea last week rejected a license for a $500 million casino in which Caesars had a 40 percent stake, Reuters reported Caesars’ credit rating as a reason.. . . more

Local job market improves, but not fast enough for many

The Massachusetts’ economy continues to outperform the nation’s, but the state’s relatively low unemployment rate masks significant problems for many people who want to find jobs but cannot, according to a report by top local economists.

While the housing market is bright spot for the state, with sales, prices and building permits all on the rise, other developments are worrisome, the economists said. Massachusetts’ exports to its major international markets slowed significantly in the last year as the global economy weakened, while federal tax increases and budget cuts are further undermining growth.. . . more

Stop & Shop gears up for the official opening of its 2d Nantucket store

The Stop & Shop Supermarket Co. LLC, a Quincy based chain of more than 400 stores, said that it will officially celebrate the opening of its second Nantucket location at 5 a.m. this Friday, June 28.

The new store, located at 9 Salem St. just blocks from the Ferry, is stocked with fresh produce, seafood, meats, and Stop & Shop’s Own Brand products. . . . more

Wednesday, June 26, 2013

Bakery chains ruling fast casual industry

Despite a surge from Mexican concepts last year, bakery cafés are still the sales leader of the fast casual restaurant segment, according to Technomic.

Led by Panera Bread, which boasted $3.7 billion in sales in 2012, the other 25 bakery cafés that ranked among Technomic's Top 150 Fast Casual Chain Restaurants posted systemwide sales of more than $6.1 billion in 2012 — an increase of 10.3 percent over 2011, said Technomic's Christine LaFave Grace.. . . more

Owner of Hudson’s Bay Explores a Deal to Buy Saks

Richard A. Baker, a shopping mall developer who emerged as a major player in the department store business with his purchases of Lord & Taylor and Hudson’s Bay, is now exploring a bid for Saks, according to a person briefed on the matter.

Saks, a 90-year-old department store chain, hired Goldman Sachsmore
last month to explore a possible sale.. . .more

Nook's last stand? B&N still must battle Amazon

It may be better to fight one battle than face attack on all sides, but for Barnes & Noble, a direct matchup with Amazon.com is still a fight in which it may be outgunned.

Barnes & Noble on Tuesday said it is pulling out of color tablet design and production. Though it will to continue to design e-reading devices like the black-and-white Simple Touch, it will bring third-party manufacturers into a partnership for products like its Nook HD and Nook HD+.. . . more

Walmart Gets a Boost From Local Price-Comparison Ads

Walmart's same-store sales recently slowed as the retailer took hits on sales of big-ticket items because of late tax refunds and a late spring. But the company continues to gain market share in groceries and consumables.


It can thank, in part, the hundreds of local-market-basket price-comparison ads it has running in 70 markets. The ads show Walmart shoppers comparing receipts from competitive grocery chains to the prices they could have gotten at Walmart.. . . more

Consumer confidence in June rises more than expected

A report released by Bloomberg on Tuesday said that confidence among American consumers in June surpassed expectations, climbing to the highest level in more than five years.

The Conference Board’s index rose to 81.4, beating Bloomberg forecasts of 75.1 and reaching the highest point since January 2008. The index reached 74.3 in May. . . . more

Mohegan Sun gambles on $50M retail project

Mohegan Sun plans to start construction this year on a $50 million retail expansion to draw more people seeking entertainment options other than gaming to the Connecticut resort casino.
Slated to open in 2015, “The Downtown District” will add 200,000 square feet to the Uncasville, Conn., property, including a 40,000-square-foot Taste of New England Gourmet Hall for artisan food purveyors, retail shops, a 14-screen premium movie theater, and a Kings bowling/dining venue from Boston’s Lyons Group.
- See more at: http://bostonherald.com/business/business_markets/2013/06/mohegan_sun_gambles_on_50m_retail_project#sthash.BwdSvJ0g.dpuf


Mohegan Sun plans to start construction this year on a $50 million retail expansion to draw more people seeking entertainment options other than gaming to the Connecticut resort casino.

Slated to open in 2015, “The Downtown District” will add 200,000 square feet to the Uncasville, Conn., property, including a 40,000-square-foot Taste of New England Gourmet Hall for artisan food purveyors, retail shops, a 14-screen premium movie theater, and a Kings bowling/dining venue from Boston’s Lyons Group.. . . more

The HoneyBaked Ham Co. looks to beef up its presence the Northeast

The HoneyBaked Ham Co. of Georgia, an Atlanta-based food retailer, said it is “eyeing aggressive growth” in the Northeast as part of a larger objective to sign more franchise deals in areas that are hotbeds of ham lovers.

With only 20 locations open collectively in New York, New Jersey, Connecticut, Massachusetts, and New Hampshire, the company thinks that area is ripe for expansion, along with Vermont, Maine, and Rhode Island.. . . more