Wednesday, July 31, 2013

Is Big Y using lease to block competition in South Hadley?

big y.jpgQuestion: There is a rumor in South Hadley that the Big Y chain has renewed its lease on its former Newton Street just to prevent any competitor from moving in.

Big Y recently stated in its press release that the reason they were closing this store was because their lease was expiring. If in fact Big Y has renewed the lease only to block competition, they have also prevented the town from moving forward and attracting another anchor store for this shopping plaza. . . . more

U.S. economy grows faster than expected, further gains seen

http://i2.cdn.turner.com/money/dam/assets/130731083854-gdp-073113-620xa.pngGross domestic product -- the broadest measure of economic activity -- rose at a 1.7% annual rate in April through June, slightly faster than the 1.1% rate in the first quarter, the Bureau of Economic Analysis reported Wednesday.

Consumer spending continued to rise in the second quarter, as Americans spent more on health care, recreational goods and vehicles, furnishings and clothing. The gain was slightly slower than in the first three months of the year, but was still seen as a good sign that consumers are coping well in spite of a higher payroll tax rate this year. . . . more

The QSR 50

The top quick service and fast casual restaurant brands in the United States.In 2012, Chick-fil-A surpassed KFC to become the best-selling chicken chain, Jimmy John’s and Five Guys joined the billion-dollar-brands club, and fast-growing Wingstop and Moe’s Southwest Grill climbed into the limited-service industry’s upper echelon for the first time. McDonald’s, meanwhile, maintained its stranglehold on the No. 1 position, nearly tripling runner-up Subway’s domestic sales. Dig deep into the data driving the quick-service and fast-casual restaurant industries with this year’s QSR 50.. . . more

Coach Q4 profit drops 12%; announces exec shake-up

Coach Inc. on Tuesday reported a 12% drop in net income in its fourth quarter amid weaker same-store sales in North America.

Overall revenue increased 5.8% to $1.22 billion in the fourth quarter, helped by gains in men's merchandise and in China. Same-store sales were down 1.7% in North America. It was the second drop in North American same-store sales in the last three quarters.. . . more

Office Depot reports Q2 loss

Office Depot reported a net loss, as well as declining total sales and same-store sales, during a disappointing second quarter of fiscal 2013.

Same-store sales dropped 4%, largely driven by decreased sales of technology and peripherals, particularly mid-priced laptops as the market continues shifting away from laptops and toward tablets. Total sales were $2.4 billion, down 4% compared to about $2.5 billion in the second quarter of 2012. . . . more

Boston-area home values rise 7.5 percent in June, according to Case-Shiller report

Home values in the Boston area increased 7.5 percent compared with the same time last year, marking the 11th consecutive month of year-over-year improvements, S&P/Case-Shiller Home Price Indices data released Tuesday show.

With nearly a year’s worth of rising prices now in the books, local housing values have rebounded to within about 11.3 percent of their last peak, in September 2005.. . . more

Caesars, Wynn press ahead here after weak earnings, N.H. threat

Despite disappointing earnings numbers and the revived prospect of casinos coming to neighboring New Hampshire, Caesars and Wynn Resorts representatives say they’re still all-in on the fierce fight to land the single gaming license in Greater Boston. - See more at: http://bostonherald.com/business/business_markets/2013/07/caesars_wynn_press_ahead_here_after_weak_earnings_nh_threat#sthash.YAGCY4k3.dpuf

Despite disappointing earnings numbers and the revived prospect of casinos coming to neighboring New Hampshire, Caesars and Wynn Resorts representatives say they’re still all-in on the fierce fight to land the single gaming license in Greater Boston.

Add to that, a Granite State lawmaker told the Herald yesterday he plans to reintroduce a bill in September to bring casinos to New Hampshire. - See more at: http://bostonherald.com/business/business_markets/2013/07/caesars_wynn_press_ahead_here_after_weak_earnings_nh_threat#sthash.YAGCY4k3.dpuf

Add to that, a Granite State lawmaker told the Herald yesterday he plans to reintroduce a bill in September to bring casinos to New Hampshire.  . . . more

Tuesday, July 30, 2013

How Two German-Owned Sister Supermarket Brands Became Hot Trendsetters in the U.S.

No matter their small selections and the near absence of brands you’d recognize: Trader Joe’s and Aldi are winning top honors in consumer surveys and proving to be enormously influential in the supermarket business.

A new study from Market Force Information asked 6,600 American consumers to name their favorite supermarkets in terms of categories like convenience, price, quality of meat and produce, courteous staff and variety of merchandise and the overall favorite store named by consumers was a small retailer with a neighborhood-market feel and very few national brands: Trader Joe’s.. . . more

7-Eleven has entered the "growth stage"

Over the past 39 years, Toshifumi Suzuki has expanded 7-Eleven to 50,000 outlets, more than any other retail chain. Now, at the age of 80, he says he has no interest in retiring. He’s got too much work to do.

“Our U.S. business has entered the growth stage,” Suzuki said at the company’s headquarters, tucked in a quiet area in Tokyo between university buildings, embassies and temples. “We will raise the quality of stores,” he said, and acquisitions will continue.. . . more

Back-to-school shoppers sticking to necessities; mobile shopping surges

Consumers continue to hold tight to their purse strings and will rely heavily on online and mobile channels while they shop, according to Deloitte’s annual “Back-to-School” and “Back-to-College” surveys.

More than ever, shoppers surveyed are going online and turning to their smartphones to make the most of their back-to-school budgets. Among top shopping destinations, 36% of consumers plan to shop online this year, moving the Internet to the No.3 destination behind discount and office supply/technology stores, a significant jump from the No. 8 position last year. . . . more