Friday, July 31, 2020

Columbia Delivers Earnings Beat Despite ‘Steepest’ Quarterly Decline in Sales

Footwear News
The coronavirus pandemic has made a significant dent in Columbia Sportswear Company’s balance sheet — but it still delivered an earnings beat.. . . more

Moncler to take control of its e-commerce operations

Retail Dive
Moncler on Monday announced it will manage its own e-commerce operations as part of a new digital strategy that aims to double its share of online business in the next three years. . . . more

Dunkin’ expects to close 800 U.S. stores

CSA
In the wake of declining Q2 sales, Dunkin’ Brands Group may close as many as 800 Dunkin’ stores by the end of 2020.. . . more

At Home anticipates record-setting Q2

CSA
At Home Group Inc. is feeling comfortable with preliminary second-quarter fiscal results.. . . more

California Pizza Kitchen files for Chapter 11 bankruptcy

CSA
A fast-casual dining chain is filing for voluntary Chapter 11 protection as part of a restructuring effort.. . . more

Study: Brick-and-mortar shopping makes a comeback

CSA
COVID-19 continues to have a major impact on consumer spending, but bright spots include physical stores and food delivery.. . . more

Report: Walmart eliminates jobs as part of reorganization

CSA
Walmart is reportedly cutting hundreds of corporate positions as it transforms into an omnichannel enterprise.. . . more

Thursday, July 30, 2020

CVS expands telehealth service to two new states

CSA
The CVS Health MinuteClinic retail medical clinic is now providing video visits to consumers in Georgia and Massachusetts.. . . more

Bankrupt JCPenney Races Toward a Sale, Will Not Liquidate

Footwear News
Bankrupt J. C. Penney Company Inc. doesn’t plan to close up shop. . . . more

Walmart expands employee app rollout, adds safety features

CSA
Walmart and Sam’s Club employees can now “Ask Sam” for any job-related information, including COVID-19 and emergency assistance. . . more

Wingstop's Success Story Continues Despite the Pandemic

Plain Vanilla Shell
Wingstop continues. . more

J. Jill to close stores as Q1 sales, profits plunge

Retail Dive
The apparel retailer reported a first quarter  . . more

Best Buy to close stores on Thanksgiving, jump-start holidays

CSA
Holiday deals will start early at Best Buy this year, but customers won’t have access to them in stores on Thanksgiving Day.. . . more

L Brands slashes 850 corporate jobs

CSA
The parent company of Victoria’s Secret is trimming corporate headcount as part of a larger $400 million cost reduction plan.. . . more

Wednesday, July 29, 2020

Sonic Unveils Bold New Restaurant Design

Restaurant News
On the heels of launching a new brand identity and advertising campaign in the spring, Sonic Drive-In recently unveiled the first drive-in of the brand’s new restaurant design – Delight. The updated look provides a fun and inviting space for guests to enjoy a moment of carefree bliss in their daily routine.. . . more

Whole Foods sweetens urban appeal with new Manhattan, D.C. stores

Plain Vanilla Shell
The past two weeks have seen Whole Foods Market open new stores in two major markets: New York City and Washington, D.C.. . . more

Under Armour discloses possible SEC action

CSA
Under Armour has been officially notified of a preliminary recommendation for the Securities & Exchange Commission (SEC) to file an enforcement action.. . . more

Walgreens CEO to step down

Retail Dive
Walgreens Boots Alliance on Monday announced that Stefano Pessina is stepping down as CEO after over five years in the job. He took the post after the 2014 merger with U.K. drugstore Boots. . . . more

Lands' End issues 'going concern' warning as it looks to refinance debt

Retail Dive
With debt maturities looming next year, Lands' End acknowledged that there is "substantial doubt" about the company's ability to survive over the next 12 months.. . . more

Francesca's sees itself on 'right path forward' after COVID-19 hammered sales

Retail Dive
Apparel retailer Francesca's sounded an optimistic note while reporting Tuesday that sales fell 50% in the quarter ended May 2, during which its 700-plus stores were closed due to the COVID-19 pandemic.. . . more

Report: Sycamore closes in on J.C. Penney purchase

CSA
A private equity group is reportedly bidding $1.75 billion to purchase the bankrupt J.C. Penney department store chain.. . . more

Tuesday, July 28, 2020

ShopRite uses robotics to offer contactless salad bar

CSA
A mid-Atlantic grocery co-op is piloting a salad bar that is self-serve – and roboticized.. . . more

Dick’s extends premium pay, will close stores Thanksgiving

CSA
Dick’s Sporting Goods will now provide a temporary pay boost through December and is the third major retailer to announce a Thanksgiving store closure.. . . more

Monday, July 27, 2020

Two longtime Foot Locker execs retire as part of organizational restructuring

Retail Dive
Foot Locker on Thursday followed Nike in announcing changes to its organizational structure "designed to foster greater agility and speed-to-act," according to a company press release.. . . more

Old Navy launches tween brand with PopSugar

CSA
Old Navy is teaming up with a leading young women’s lifestyle site to create a new product line aimed at 10-to-13-year-olds.. . . more

Yikes! Yelp says 60% of restaurant Covid-19 closures are permanent

CNN
A new national survey spells more bad news for the restaurant industry.. . . more

Digital sales drive impressive Albertsons earnings debut

CSA
Albertsons Companies sales and net earnings soared in its first-ever quarterly earnings report.. . . more

Target Follows Walmart’s Move, Will Close on Thanksgiving

Footwear News
As the coronavirus pandemic rages on, Target is joining Walmart and will close on Thanksgiving Day.. . . more

Edible® is Ripe for Franchise Growth Around the Globe

Plain Vanilla Shell
Edible®, one of the world’s most beloved and leading gift and treat destinations, is reflecting on a record breaking six months. A resilient and essential business, the brand continues to attract inspired entrepreneurs, signing a total of 37 new franchise agreements since January. Now, with a larger franchise development team in place, Edible is aiming for its next ambitious growth goal: to sign 80 to 100 new franchise agreements in the US and to find new franchisees for 5 international countries between now and the end of the year.. . . more

Here is the list of Ann Taylor, Loft, Justice store closings

CSA
Ascena Retail Group is reducing its store footprint from about 2,800 stores to some 1,200 stores.. . . more

Friday, July 24, 2020

Tractor Supply powers through Q2

Plain Vanilla Shell
Tractor Supply Company continues to roll in 2020.. . . more

Restaurant Chains Grabbed the PPP Lifeline

Restaurant Business
When the government first started processing Paycheck Protection Program loans in April, Plano, Texas-based burger franchise Mooyah worked with a lender to process loans for both the company and many of its franchisees.. . . more

Simon, Authentic Brands team up with offer for Brooks Brothers

CSA
The nation’s biggest mall owner is once again partnering to help save a struggling retailer.. . . more

Retailers join forces in bid to replace the plastic bag

Retail Dive
Target, Walmart and Kroger have entered a partnership with other retailers in a quest to speed up the development of a viable alternative to the plastic bag widely used by customers, according to a press release.. . . more

Retail REITs may not recover until 2022, S&P says

Retail Dive
With their fates tied to an industry disrupted by COVID-19, retail-based REITs might not recover until 2022, according to a report released Wednesday by S&P Global.. . . more

Why COVID Could Kickstart Chipotle’s Road to 5,000 Restaurants

Plain Vanilla Shell
Chipotle’s digital business more than tripled this past quarter as COVID-19 continues to rattle what we expect of consumer behavior. A 125 percent year-over-year lift in delivery. Order ahead up 140 percent. Entrees per digital transaction significantly higher. Fifteen million rewards members in 15 months—perhaps the fastest growing program in quick service history.. . . more

J.Jill gets more breathing room — again

CSA
J.Jill has once again gotten more time to keep a potential bankruptcy filing at bay. . . . more

Thursday, July 23, 2020

Amazon makes it official: Prime Day delayed

CSA
Amazon has officially confirmed that its annual two-day summer sales extravaganza is being delayed.. . . more

Four in 10 consumers currently boycotting a company

CSA
Pandemic and politics are causing a big spike in company boycotts.. . . more

Ann Taylor parent Ascena files for Chapter 11 bankruptcy

CNBC
The parent company of Ann Taylor and Loft, Ascena Retail Group, filed for Chapter 11 bankruptcy protection Thursday morning, marking the latest apparel maker to be pushed to the brink during the coronavirus pandemic. . . more

Neiman Marcus launches virtual hub as customers remain wary of indoor shopping

Retail Dive
Neiman Marcus on Tuesday announced the launch of "Your Neiman's," a digital hub offering personalized "luxury services and experiences," designed in part to help customers work around limits imposed by the COVID-19 pandemic. . . . more

BJ’s Wholesale expanding in New York

CSA
BJ’s Wholesale Club is opening two new locations in New York.. . . more

Grocery shopping frequency declines as pandemic concerns remain high

CSA
Consumers are shopping for groceries less but spending more than they did pre-pandemic.. . . more

Best Buy reports strong sales; raising starting wage

CSA
Best Buy Co. is on a roll, with its total second-quarter sales to date up over last year despite the disruption caused by the pandemic.. . . more

Wednesday, July 22, 2020

Sephora to cut 117 jobs in restructuring

Retail Dive
Sephora is cutting 117 full-time jobs, about 7% of its full-time corporate workforce, as part of a restructuring process, the company confirmed to Retail Dive on Monday. "A number" of those are corporate roles associated with Sephora's J.C. Penney partnership "to reflect the JCPenney store base reductions," a company spokesperson said.. . . more

Panera Bread, Noodles & Company join Starbucks on requiring customers to wear face masks

Nation's Restaurant News
Following the lead of top retailers and restaurant industry chains like Starbucks and Walmart, fast-casual-brands Noodles & Company and Panera Bread have announced plans to formally require that all guests wear masks when entering each restaurant.. . . more

Walmart to close its stores on Thanksgiving Day

WHDH
Walmart will close its namesake stores and Sam’s Clubs on Thanksgiving Day this year, saying that it wants to have its employees spend time with their families during the coronavirus.. . . more

Ulta Beauty updates store opening plans; entering Canada mid-2021

CSA
Ulta Beauty continues to refine its near-term new store plans as it continues to navigate the impact of COVID-19.. . . more

Aldi opening 70 more stores this year

CSA
Discount grocer Aldi is embarking on the next wave of its coast-to-coast expansion.. . . more

Tuesday, July 21, 2020

Instagram Shop launches with Facebook Pay at checkout

Retail Dive
Instagram officially introduced an e-commerce hub called Instagram Shop in the U.S., with plans for a global rollout, according to a company blog post. The shopping section of the photo-sharing app will let merchants sell products and accept payments via Facebook Pay, which the social network introduced last year.. . . more

Mall owner CBL prepping a Ch. 11 filing

Retail Dive
Mall owner CBL & Associates is prepping a Chapter 11 bankruptcy filing, Bloomberg reports, citing people familiar with the matter. A CBL spokesperson declined to comment to Retail Dive on the report.. . . more

Mergers and acquisitions across the restaurant industry aren’t far off from last year’s pace in spite of coronavirus

Nation's Restaurant News
In spite of the past three months, which have been tumultuous across every industry to say the least, the speed with which restaurants are bought and sold hasn’t slowed down. As of July, there were 12 mergers and acquisitions across the restaurant industry, compared to this point last year where there were 19 at the end of July.. . . more

7-Eleven launches order ahead, expands delivery footprint

CSA
7-Eleven has expanded its delivery app to offer customers the option to order and pay for items ahead of time. . . . more

Parent company of Men’s Wearhouse, Jos. A. Bank to slash store footprint

CSA
Tailored Brands expects to close up to 500 stores “over time” and reduce its corporate workforce as a result of business disruptions from the COVID-19 pandemic.. . . more

Dollar Tree names new CEO

CSA
There’s been a changing of the guard at Dollar Tree.. . . more

Is Coldwater Creek calling it quits?

CSA
Coldwater Creek is holding a sale — a big sale — amid strong signs that it may be going out of business.. . . more

Monday, July 20, 2020

Why used clothing can survive the global health crisis

Retail Dive
While resale has been around for years — through traditional thrift shops, Craigslist and eBay — the digital, mobile-focused platforms really took off in popularity last year. . . . more

EVP & CFO Jeffrey Lawrence Announces Retirement from Domino’s

Restaurant News
Domino’s Pizza, Inc. (NYSE: DPZ), the largest pizza company in the world based on global retail sales, announced today that Jeffrey D. Lawrence, Executive Vice President & Chief Financial Officer, has announced his decision to retire from Domino’s after more than 20 years of service. He has served in his current role for the last five years. Mr. Lawrence has agreed to continue serving as CFO until the company identifies his successor. Once a successor is named, he will step down from his role and will serve as an advisor to Domino’s Chief Executive Officer Ritch Allison until the end of 2020. . . . more

Aritzia to open flagship in New York

CSA
Aritzia is moving into a high-profile location in downtown Manhattan.. . . more

Rue21 opening new stores as business returns

CSA
Rue 21 is expanding at a time when many specialty clothing retailers are downsizing.. . . more

Home Depot, Lowe’s, Rite Aid to require masks

CSA

Three more big retailers have weighed in on the face mask issue.. . . more

Is the pandemic giving Gap Inc. one last chance?

Retail Dive
The pandemic is providing Gap Inc. with fresh opportunities, including rightsizing its brick-and-mortar fleet in confrontations with landlords over unpaid rent, growing its Athleta brand amid interest in athleisure and attracting value-minded customers to Old Navy as the economy falters, Wells Fargo analysts said Friday.. . . more

Macy's, Neiman Marcus look to resume exec payments as department store woes continue

Retail Dive
Macy's has resumed its equity bonuses for top executives after a protracted closure period, emergency financial measures and recently announced corporate staff layoffs. The awards going to more than a dozen executives were worth millions, including more than $3.6 million in company stock to CEO Jeff Gennette at the time of the award.. . . more

Friday, July 17, 2020

Will An Updated Menu And Image Return Boston Market To Its Early Success?

Plain Vanilla Shell
A revamped menu and brand image will turn Boston Market around as it looks to return to unit growth amid years of contraction—at least according to its new owner.. . . more

Retail Sales Beat Estimates as Shoppers Return to Stores — but Rising COVID-19 Cases Could Pose Threat

Footwear News
Shoppers were back in stores last month as retail sales posted a better-than-expected gain.. . . more

Lowe’s to open drive-in theatres in parking lots to benefit small businesses

CSA
Lowe’s Companies is expanding its support to rural, hard-hit communities and to minority-owned businesses. It’s also piloting drive-in theatres in its parking lots.. . . more

J.Jill in new bid to avoid bankruptcy

CSA

J.Jill has once again kept a bankruptcy filing at bay.. . . more

LL Bean inks first wholesaler partnerships in US

WHDH
L.L. Bean is expanding from its original model of direct-to-customer catalog sales and in-stores sales with an agreement to sell products in Nordstrom, Staples and sporting goods chain SCHEELS. . . more

Hair Cuttery closing nearly 40 locations across New England

Plain Vanilla Shell
After almost a year in business, the Hair Cuttery’s salon at Milford Crossing has permanently closed, along with its 21 other locations in Massachusetts, the Milford Daily News reported.. . . more

Hannaford to Stop Selling Tobacco Products at All Locations

NECN
Hannaford plans to stop the sale of tobacco products in all stores, according to a Newscenter Maine report.. . . more

Thursday, July 16, 2020

Neiman Marcus may close 4 stores for good

Retail Dive
As part of its bankruptcy process, Neiman Marcus may permanently close four stores, in Walnut Creek, California; Palm Beach, Florida; Bellevue, Washington; and Washington, D.C., according to a press release from A&G Real Estate Partners, which is marketing the leases in partnership with Neiman Marcus Group.. . . more

Aldi takes top spot for 10th consecutive year in this study

CSA
Aldi is the nation’s top value grocer.. . . more

PVH to exit its outlet-store Heritage Brands Retail business

CSA
PVH Corp., whose brands include Calvin Klein and Tommy Hilfiger, is streamlining its North American operations.. . . more

Will prescription delivery cure what ails Kmart?

CSA
A struggling department store chain is joining the increasingly crowded field of retailers who offer home delivery of prescription medications.. . . more

Walmart makes face coverings mandatory; so do Kroger, Best Buy

CSA
Three of the nation's top retailers are making face masks mandatory and one is even adding a new role to make sure the rule is enforced.. . . more

J.C. Penney to cut workforce by 1,000

CSA
J. C. Penney Company is reducing its workforce  on the heels of downsizing its store portfolio as it looks to emerge from bankruptcy.. . . more

The Paper Store Files for Bankruptcy, Citing the Financial Strain of the Pandemic

Yahoo! News
As the COVID-19 pandemic continues to create significant challenges for retail, another company has filed for bankruptcy.. . . more

Wednesday, July 15, 2020

Tropical Smoothie Café revs up store expansion

CSA

Tropical Smoothie Café is on a roll.. . . more

With Fashion District back up, all PREIT malls are in business

CSA
PREIT’s most recently completed new project, Fashion District in Center City Philadelphia, was the last of its malls to re-open during the COVID-19 crisis.. . . more

Reopenings Pose Special Challenges For Eatertainment Brands

Restaurant Business
Restaurant staffs are settling into the new sanitation protocols necessitated by the coronavirus pandemic. For employees of Pinstripes, a fun-and-food concept set to reopen all 13 of its branches on Friday, that’ll mean wiping down bowling balls along with tabletops and door handles.. . . more

Paper Source introduces subscription box, virtual craft classes

Retail Dive
Paper Source on Friday debuted virtual learning courses and subscription box services, according to a company press release.. . . more

Iconix Brand Group considers potential sale

Retail Dive
Iconix Brand Group is considering "strategic alternatives" for its business, including a potential sale, according to a document filed with the Securities and Exchange Commission. The company owns, markets and licenses a number of apparel companies including Ed Hardy, Starter, Umbro, Rocawear, Joe Boxer, London Fog and Material Girl. . . . more

RSG Group Set to Acquire Gold's Gym

Plain Vanilla Shell
RSG Group GmbHEurope's innovation leader in the fitness and lifestyle sectors, was selected as the winning bidder in a court- approved auction process held on July 13, 2020, and is set to acquire the most well-known and iconic gym chain in the world, Gold's Gym. With this acquisition the RSG Group, which has mainly been active in Europe up to now, will become a global leader in fitness with over 900 locations and will be represented on six continents.. . . more

Retail shrink at all-time high; rises more than $1 billion

CSA
Retail shrink  totaled $61.7 billion in 2019, up from $50.6 billion the year before, amid rising employee theft, shoplifting and organized retail crime (ORC).. . . more

Tuesday, July 14, 2020

WhatsApp introduces QR codes for small businesses

Retail Dive
WhatsApp on Thursday debuted QR codes for small businesses to display on product packaging, receipts or on storefronts that launch customer chats. The messaging platform also now allows sellers to share product catalogs and individual items as links on websites, Facebook, Instagram and other platforms. . . . more

Amazon’s newest smart device – the Dash Cart

CSA
Amazon is providing grocery shoppers another way to skip the checkout line.. . . more

Office Depot parent names former Amazon exec CTO

Retail Dive
The ODP Corporation, which owns OfficeMax, Office Depot, CompuCom and Grand&Toy, recently appointed Terry Leeper as executive vice president and chief technology officer. . . . more

In pandemic era, private equity-owned retail is as vulnerable as ever

Retail Dive
Combine two leveraged buyouts with $5 billion in debt. Add a pandemic. Stir. 
If anyone, for whatever reason, were in need of a recipe for retail bankruptcy, the above is as good as any. It was enough to send Neiman Marcus into court to seek relief. Two private equity buyouts, funded by billions in debt, led to years of distress and ultimately bankruptcy this year. . . . more

The 10 most valuable malls in America before the coronavirus pandemic

CNBC
Before the coronavirus hit, America’s most valuable malls were driving billions of dollars in sales annually, contributing hundreds of millions of dollars to local tax coffers. . . . more

Express: Sales, traffic improving

CSA
Express Inc. is seeing some light at the end of the tunnel after closing its stores due to the pandemic.. . . more

Brooks Brothers gets bankruptcy loan — with zero interest

CSA
Brooks Brothers Group has gotten a loan to help it reorganize through bankruptcy.. . . more

Pier 1 in deal to sell its e-commerce business, intellectual assets

CSA
Pier 1 Imports has accepted a raised offer for its intellectual property, data and  online-related assets.. . . more

Monday, July 13, 2020

Whataburger announces updated design, plans expansion to more states

Plain Vanilla Shell
Whataburger has announced expansion plans and a new restaurant design that will be coming soon.. . . more

7-Eleven Opens 71,100th Store

CStore Decisions
7-Eleven announced its 71,100th store, which opened in Seoul, South Korea.. . . more

REI Reportedly Plans to Lay Off Hundreds of Employees This Week

Footwear News

REI continues to make reductions to its workforce.

The outdoor retailer, which announced widespread furloughs in early April, has reportedly confirmed plans to lay off 400 store employees by Wednesday as the coronavirus pandemic continues to plague its business.. . . more

Parent company of New York & Company files for bankruptcy

CSA
RTW Retailwinds has filed for Chapter 11 bankruptcy protection with plans to close many, if not all, of its 378 stores.. . . more

Kelly’s Roast Beef Eyes South Florida for Expansion

Plain Vanilla Shell
Kelly's Roast Beef, a Boston icon with seven decades of history, is looking to expand not only regionally in New England, but also establish a presence in South Florida.. . . more

Muji USA files for bankruptcy

Retail Dive
The U.S. arm of Japanese retailer Muji filed for Chapter 11 on Friday. . . . more

Nike goes big with new ‘Rise’ store concept

CSA
Nike had added yet another store concept to its brick-and-mortar portfolio. . . . more

Friday, July 10, 2020

Primark to open five new stores this year as it names its top-selling products post-lockdown

Plain Vanilla Shell
Primark has announced it will open five new stores this year, as the retailer revealed what people have been buying since it reopened last month.. . . more

DAVIDsTEA to close its retail stores in North America

Plain Vanilla Shell
DAVIDsTEA (DTEA -16.4%) accelerates its transition to online retailing and wholesale distribution in North America through a restructuring plan to return to profitability.  . . . more

How to run a store in a pandemic

Retail Dive
As the United States marked a subdued Independence Day last weekend, the COVID-19 pandemic continued to surge in many places, prompting governors of several states to implement or reinstate strict protocols meant to combat it.. . . more

Meijer expands footprint with five new stores

CSA

Meijer is growing across the Midwest.

The retailer has opened new locations in Manitowoc, Wis.; Sycamore, Ill.; Bad Axe, Mich.; and Brimfield and Lorain, Ohio. The 159,000-sq.-ft. stores combine a grocery and a full-service meat department with a pharmacy and a wide range of general merchandise items that include women's apparel and beauty care.. . . more

Survey: Retailers should prepare for a busy holiday shopping season — online

CSA
COVID-19 hasn’t impacted consumers’ holiday spending plans but it has affected how they intend to shop.. . . more

Starbucks will require customers to wear face masks starting July 15

Nation's Restaurant News
Starbucks announced Thursday that starting July 15, customers will be required to wear face masks in all company-owned café locations in the U.S. Customers, however, will not be required to wear facial coverings in the drive-thru or picking up curbside “unless locally mandated,” Starbucks clarified in a tweet announcing the news.. . . more

Ascena preps bankruptcy plan that would close 1,200 stores

Retail Dive
Ascena Retail Group is preparing to file for Chapter 11 bankruptcy as soon as this week, according to a Bloomberg report that cited anonymous sources. Ascena did not immediately reply to Retail Dive's request for comment.. . . more

Thursday, July 9, 2020

Levi's to cut 700 non-retail jobs as Q2 revenues plummet

Retail Dive
Levi's on Tuesday said in a press release that this year it will eliminate about 700 global non-retail and non-manufacturing jobs, or 15% of that workforce.. . . more

Square One Mall Sears Closing, Leaving Void North Of Boston

Patch
The Sears that has been part of the Square One Mall for decades is in its final days, soon to be replaced by a massive entertainment complex on Route 1.. . . more

Sur La Table pursues sale of company

Pain Vanilla Shell
Sur La Table has filed for Chapter 11 bankruptcy protection and is pursuing a sale of the company, subject to court approval, the specialty retailer announced the afternoon.. . . more

Malls in New York can reopen on Friday if their HVAC systems

CSA
Shopping malls in most of New York State can reopen on Friday as long as they meet certain conditions, specifically enhanced air-conditioning filtration systems.. . . more

Bed Bath & Beyond in big store closing move

CSA
Bed Bath & Beyond plans to close about 200 stores during the next two years as it looks to return to profitability.. . . more

Brooks Brothers files for bankruptcy

CSA
The nation's oldest apparel company is looking for a buyer.. . . more

Here’s What the Trouble in Commercial Real Estate Means for You

New York Magazine
San Francisco’s iconic Transamerica building — owned by the insurer of the same name since its construction in the 1970s — is being sold. But these being COVID times, it’s being sold at a discount. A group of investors had struck a deal to buy the property for $711 million back in February, but now the San Francisco Business Journal reports Transamerica has agreed to a 10 percent price cut to keep the deal on track.. . . more

Wednesday, July 8, 2020

Sally Beauty sees ‘strong’ demand in reopened stores

CSA
Sally Beauty Holdings is encouraged by initial results for its fiscal third quarter.. . . more

After Warning of ‘Probable’ Bankruptcy, New York & Co. Parent Enters Forbearance

Footwear News
After defaulting on its loan, New York & Co. parent RTW Retailwinds has reached an agreement with lender Wells Fargo to enter forbearance until July 15.. . . more

Double whammy: Protests and pandemic hurt Shake Shack sales

Nation's Restaurant News
Shake Shack, which has started to reboot unit growth, said second quarter same-store sales dropped 49% driven by volatility tied to the coronavirus pandemic and nationwide protests in June.. . . more

Department stores miss out on Fourth of July consumer attention

Retail Dive
Several specialty stores held their own over the Fourth of July holiday week, thanks to aggressive price promotions, according to Wedbush, which used Google Trends search analytics for a Tuesday report that was emailed to Retail Dive. . . . more

Gap in new B2B business: making masks

CSA
Gap Inc. is going national with a new business-to-business division selling face masks.. . . more

J.C. Penney to permanently close two stores in New York City

CSA
J.C. Penney has revealed more details about its store closing plans.. . . more

Report: Walmart to challenge Amazon Prime with subscription service

CSA
Walmart will reportedly introduce a new annual membership program by the end of July.. . . more

Tuesday, July 7, 2020

DTC brands struggled with profitability prior to COVID-19. Now what?

Retail Dive
For certain direct-to-consumer brands, the pandemic invited some of their highest sales as consumers were forced to shop online while physical stores shuttered.  . . . more

Re-open, re-close, re-open: The newest video game in retail real estate

CSA
On July 1, Apple announced it would re-close 30 more stores it had already re-opened during the COVID-19 crisis. That brought the highly trafficked retail division’s list of stores it has re-closed to 77.. . . more

Dunkin’ explores beverage trends with coffee and tea tests in restaurants in the Northeast

Nation's Restaurant News
The quick-service chain is offering new drinks in select stores in Connecticut, Massachusetts, New Hampshire, New York and Rhode Island. . . more

Pier 1 enters agreement to sell off IP, other assets for $20M

Retail Dive
Pier 1 Imports, Inc. on July 1 entered into an agreement with Retail Ecommerce Ventures LLC and Pier 1 Imports Online, Inc. to sell all of its owned intellectual property, data and other e-commerce-related assets to Pier 1 Imports Online. Retail Ecommerce Ventures will serve as guarantor.. . . more

Amazon expanding grocery store footprint

CSA
Amazon is making more inroads into physical retail.. . . more

CVS thanks loyalty members with summer promotion

CSA
CVS is providing a little extra for participants in its ExtraCare loyalty program.. . . more

Thinking they’re undervalued, investors are snapping up REIT stocks

CSA
Big real estate investment firms the likes of Blackstone and Starwood are actively buying securities backed by real estate, the financial underpinnings of mall owners like Simon, PREIT, Kimco, and National Retail Properties, said a report in the Wall Street Journal.. . . more

Monday, July 6, 2020

With department stores disappearing, malls could be next

BBJ
The directory map for the Northfield Square Mall in Bourbonnais, Illinois, has three glaring spaces where large department stores once stood. Soon there will be a fourth vacancy, now that J.C. Penney is liquidating stores after filing for bankruptcy. . . . more

Lucky Brand files for bankruptcy with plan to sell itself

CSA
Lucky Brand Dungarees is hoping that a new owner will help revive its sagging fortunes. . . . more

Foot Locker CEO Dick Johnson Talks Inevitable Retail Changes and Hope In Post-Coronavirus Era

Footwear News
As the coronavirus crisis ravages the footwear business, top executives have had to make many tough decisions — from closing stores to staff layoffs.. . . more

CITGO Still Going Strong

CStore Decisions
Not many retail brands survive for 110 years, but CITGO has not only weathered the competition, it is refreshing its brand image to meet the challenges of a new generation. Today, the Texas-based oil company operates more than 4,600 stores coast-to-coast and has its sights sets on growing its marketer program over the next 12-24 months.. . . more

Men's Wearhouse misses $6.1M interest payment on bonds

Retail Dive
Tailored Brands subsidiary Men's Wearhouse skipped a $6.1 million interest payment that was due July 1 on a group of bonds, the apparel retailer said in a securities filing.. . . more

Nordstrom tells landlords to expect just half their rent until January 2021

Retail Dive
Nordstrom June 3 notified landlords of its full-line and off-price Rack stores that it will pay only half the occupancy costs for the remainder of the year, according to a letter from President of Stores Jamie Nordstrom to property owners, which was obtained by Retail Dive. A Nordstrom spokesperson didn't immediately respond to Retail Dive's request for more information or comment.. . . more

Crate & Barrel to name new CEO—again

CSA

The chief executive of Crate & Barrel is moving on.  . . . more

Bob’s Discount Furniture puts premium on safe reopening

CSA
Bob’s Discount Furniture is going beyond government guidelines for its comprehensive COVID-19 store reopening strategy. . . . more

Thursday, July 2, 2020

Is a New Mobile App Enough to Save Francesca’s From Bankruptcy?

Footwear News
After warning last month that it could go bankrupt, Francesca’s is moving forward with plans to launch its first mobile app. . . . more

McDonald's halts dining room reopenings ahead of July 4 holiday

Nation's Restaurant News
Citing a rise in coronavirus cases across the United States, McDonald’s Corp. is halting the reopening of more dining rooms in the U.S. “Keeping with our thoughtful approach to reopening, effective today, we are pausing all dine-in reopening plans for 21 days,” company leaders wrote in a letter viewed by Nation’s Restaurant News. . . . more

Bollé unleashes sunglass try-on experience on Instagram

Retail Dive
Bollé released an augmented reality (AR) experience to let Instagram users virtually try on its Phantom model of sunglasses. To activate the AR view, mobile users can either scan a QR code included in Bollé marketing materials or visit a link attached to its @bolle_eyewear account on the photo-sharing app, per an announcement shared with sister publication Mobile Marketer. . . . more

Denny’s Corporation and its Franchisees Hiring 10,000 Restaurant Employees Nationwide

Restaurant News
Today, Denny’s announced its plans to hire 10,000 restaurant-level employees at both company and franchise operated restaurants across the United States by the end of 2020. The COVID-19 pandemic has caused unemployment to rise, impacting countless Americans, and Denny’s is committed to helping people get back to work. Denny’s Corporation and its franchisees are helping to jumpstart hiring across the U.S., by providing job opportunities to future employees. . . . more

Subway is pulling back on its $5 Footlong offer

Restaurant Business
Subway is pulling back on its latest $5 Footlong promotion, making it digital-only this week after the deal didn’t generate the traffic the company hoped.. . . more

Sephora enables direct purchase via Instagram

CSA
A beauty giant is taking a big step in social shopping.
Sephora is opening a digital storefront on the Instagram social platform with the Instagram Checkout feature. Initially released in closed beta in March 2019, Instagram Checkout enables customers to shop, make purchases and receive shipment and delivery notifications within Instagram.
. . . more

First Look: Walmart's new self-checkout store

CSA
Walmart is testing a store design that takes the self-checkout experience to a new level.
The discount giant is officially confirming mid-June media reports that it opened a pilot supercenter format in Fayetteville, Ark. that replaces traditional, in-person checkout lanes with self-checkout kiosks. Instead of arranging POS terminals in lanes, the store has a front-end layout in which 34 registers line the edges of a wide-open area
. . . more

Wednesday, July 1, 2020

Macy’s swings to Q1 loss; not expecting another full COVID-19 shutdown

CSA
With nearly all its stores reopened, Macy’s expects a gradual recovery after posting a big loss for the first quarter when its stores went dark due to the COVID-19 pandemic.. . . more

Tanger Outlets debuts virtual shopping service

Retail Dive
Tanger Factory Outlet Centers on Wednesday introduced a virtual shopping concierge service that allows consumers to shop remotely across various retailers and brands, the company announced in a press release. . . . more

Guitar Center gets some breathing room with $56M debt exchange

Retail Dive
Guitar Center exchanged about $56.4 million in bonds due in 2022, representing 90.7% of the aggregate principal on the bond group, the company said in a press release Monday.. . . more

Wingstop Opens 1st U.S. Ghost Kitchen

Restaurant Business
Chicken wing chain Wingstop opened its first ghost kitchen in the U.S. on Wednesday, the latest step in the brand’s plan to go 100% digital.  . . . more

Giant Food merges e-commerce services into updated platform

Retail Dive
Giant Food has launched a new e-commerce platform that includes its former Peapod.com and Giantfood.com online shopping sites and the Giant Food app, according to a company press release. The new platform will operate under the Giantfood.com name.. . . more

Gap, Kanye West announce Yeezy collaboration

Retail Dive
Gap Inc. on Friday announced a collaboration between its namesake brand and Kanye West's Yeezy apparel label. The Yeezy studio will design "basics for men, women and kids at accessible price points," the company said. . . . more

Walgreens tests new store format highlighting health, wellness

CSA
Walgreens is testing a smaller store concept that is focused on pharmacy. . . . more