Friday, February 26, 2021

As restaurants recover, their success formula will change

Restaurant Dive
There's a light at the end of the tunnel for the restaurant industry, analysts with global advisory firm Duff & Phelps say in a report. . . . more

Ruby Tuesday emerges from bankruptcy

Restaurant Dive
Ruby Tuesday announced Wednesday that it has emerged from Chapter 11 bankruptcy protection. The bankruptcy allowed the casual chain to "shed liabilities, including leases from closed locations that were significantly impacted by COVID-19, and to strengthen its core business of 209 corporate-owned and operated locations," according to a company release. . . . more

Hooters' fast casual chain Hoots Wings signs first franchise deal

Restaurant Dive
Hoots Wings, Hooters' fast casual concept, struck a 60-unit franchise deal with Dallas-based AE Restaurant Group, according to a press release. This is the chain's first franchise agreement since parent company HOA Brands announced in December it would expand Hoots Wings through franchising. . . . more

Victoria's Secret to close as many as 50 more stores this year

Retail Dive
L Brands on Wednesday reported that fourth quarter net sales rose 2.4% to $4.82 billion as comps rose 10% (up 22% at Bath & Body Works and down 3% at Victoria's Secret). E-commerce at Bath & Body Works rose 74% and at Victoria's Secret rose 33%, according to a company press release. . . . more

Best Buy earnings top Street but sales growth slows; cites ‘uncertainty’ as spending shifts

CSA
Best Buy Co.’s fourth-quarter earnings topped expectations but its revenue fell short as sales growth started to slow from earlier in the pandemic. . . . more

Amazon opens 10th high-tech Amazon Fresh grocery store

CSA
Amazon is continuing to expand its high-tech grocery format with a new location in California. . . . more

Sephora to open 60-plus freestanding U.S. stores in 2021

CSA
Sephora is embarking on the largest store expansion plan in its 21-year history in the United States. . . . more

Thursday, February 25, 2021

How 7-Eleven became the world’s biggest convenience store

CNBC Business
7-Eleven, home of the 50-ounce Double Gulp and the Pina Colada Slurpee, has helped revolutionize the way we shop at convenience stores. . . . more

Target to open mini Apple shops inside 17 stores in latest move to woo customers

CNBC Business
Target wants to give shoppers another reason to skip trips to the mall: It’s adding mini Apple stores to some locations, with more space devoted to iPhones and other popular gadgets. . . . more

88% of restaurants considering swapping to digital menus, survey says

Restaurant Dive
Seventy-six percent of restaurants said they will continue offering contactless tech this year, according to Square's Future of Restaurants 2021 report, which includes findings from a survey of 500 operators. . . . more

Tuesday Morning, Casper, Vince on S&P's latest 'most vulnerable retailers' list

Retail Dive
S&P Global Market Intelligence included Tuesday Morning, which went through a Chapter 11 restructuring last year, in its latest monthly list of the most vulnerable retailers. . . . more

Kroger Data Breach Now Includes Sensitive Consumer Info

Progressive Grocer
Kroger has reported a data breach that could include social security numbers of customers who use the grocer's pharmacy services. . . . more

Pandemic Category Sales Poised to Outlast Pandemic

Progressive Grocer
A year after COVID-19 paralyzed the nation, shoppers are still buying a lot of face masks, hand sanitizer and household cleaner, and demand in those categories shows no signs of easing. . . . more

Japanese Retailer PPIH to Acquire Gelson's Markets

Progressive Grocer
Japanese retailer Pan Pacific International Holdings (PPIH) has entered into a definitive agreement to acquire Gelson’s Markets, signaling a possible period of accelerating growth for the upscale California grocery chain. . . . more

Wednesday, February 24, 2021

How to Improve Your C-Store Security

CStore Decisions
While certain crime significantly increased over the last year, robberies were reported to decrease by 7.1 percent in the first half of 2020. . . . more

TJ Maxx Parent’s Store Closures in Q4 May Have Caused $1.05 Billion in Lost Sales

Footwear News
The TJX Companies Inc. fell short of earnings and sales expectations as renewed COVID-19-related restrictions kept many of its stores closed during the fourth quarter. . . . more

Fry's Electronics suddenly went out of business

CNN Business
Fry's Electronics suddenly closed all of its stores overnight, ending a nearly four-decade run in business. . . . more

Covid live updates: CVS to offer vaccines in six more states; stay-at-home DIY trend could ease

CNBC Business
The United States is set to see a substantial boost in Covid-19 vaccines shipped out and ready to administer in the coming weeks. Executives from Pfizer and Moderna told Congress on Tuesday the drugmakers are preparing to nearly double their current output. And on Wednesday, Food and Drug Administration staff endorsed Johnson & Johnson’s one-shot vaccine, clearing the path for an emergency use authorization as soon as this week. A J&J executive said once the drug is authorized, the company would be ready to ship more than 20 million doses by the end of March. . . . more

Estée Lauder to acquire beauty retailer Deciem in $1 billion deal

CSA
The Estée Lauder Companies Inc. has agreed to buy a majority stake in indie beauty brand Deciem Beauty Brand Group Inc. . . . more

Skincare company Heyday wants to open ‘hundreds of stores’ in next five years

CSA
Heyday plans to ramp up its brick-and-mortar expansion via franchising. . . . more

Lowe’s Q4 tops Street as sales jump 27%; cites broad demand across all departments

CSA
Lowe’s Cos. reported fiscal fourth-quarter profit and sales that beat expectations as spending on home projects continues to surge amid the pandemic. . . . more

Tuesday, February 23, 2021

Movie theaters in New York City can open in March at 25% capacity

CNBC Business
After nearly a year of closures, New York City cinemas will be permitted to open on March 5, Gov. Andrew Cuomo said Monday. . . . more

Home Depot tops estimates as sales surge 25%, but shares fall on worries pandemic gains won’t last

CNBC Business
Home Depot’s fourth-quarter earnings surged past investors’ expectations as consumers poured more money into home improvement due to the pandemic and strength of the real estate market. . . . more

What big-box retailers have to gain from DTC brands

Retail Dive
Scattered among the CPG mainstays at a Walmart or Target are a crop of direct-to-consumer brands. . . . more

Subway streamlines global payment infrastructure

CSA
Subway is connecting franchisees to universal payment software. . . . more

Macy’s posts first profitable quarter in a year on strong holiday, digital sales

CSA
Macy’s Inc. ended a year of “unprecedented disruption” on a very upbeat note, topping Street estimates and reporting quarterly sales improvements across all three of its brands. . . . more

Bloomin' Brands takes virtual brand Tender Shack national

Restaurant Dive
Bloomin' Brands has rolled out its virtual brand, Tender Shack, nationwide through a partnership with DoorDash, according to a press release emailed to Restaurant Dive. . . . more

Steak 'n Shake dodges bankruptcy, sues lender for alleged takeover scheme

Restaurant Dive
Steak 'n Shake on Friday repaid the remaining balance of the $220 million loan it owed its debtors, including Fortress Investment Group, Bloomberg reported Monday, citing people with knowledge of the payment. By paying off its debt, which had been reduced to $153 million and was due March 19, the burger chain avoided a potential Chapter 11 bankruptcy filing, which it had been preparing for with advisers FT Consulting Inc. and Latham & Watkins while negotiating its debt with Fortress. . . . more

Monday, February 22, 2021

Nearly Half of Americans Expect COVID-19 Shopping Habits to Be Permanent — Here’s What Changed

Footwear News
Over the past year, the COVID-19 pandemic has led to a spate of changes in consumer preferences, from tighter budgeting for discretionary expenses to the accelerated adoption of digital platforms. Now, a new study suggests that those habits might have been altered for good. . . . more

The running list of 2021 retail bankruptcies

Retail Dive
The pace of bankruptcies in retail hit a high-water mark last year, after years of elevated filings that tracked with a major shakeout in the industry. . . . more

Noodles & Company plots multi-unit franchise expansion

Restaurant Dive
Noodles & Company is seeking multi-unit franchise partners to grow its footprint in the South and Southwest, according to a company release. The chain is targeting Alabama, Florida, Georgia, New Mexico, South Carolina and Texas, specifically. . . . more

Massachusetts to open 2 more mass vaccination sites

Westport News
Massachusetts is opening two additional mass vaccination sites this month, in Natick and Dartmouth, as the state ramps up its effort to distribute the COVID-19 vaccine, Gov. Charlie Baker said Wednesday. . . . more

Walgreens to receive 480,000 COVID vaccines a week

CSA
Walgreens Boots Alliance has administered more than 3 million COVID-19 vaccinations across long-term care facilities and other identified vulnerable populations. And now its in-store efforts are ramping up. . . . more

Walmart just boosted pay to $15. It's not what you think

CNN Business
Walmart announced pay bumps Thursday that will bring its average hourly wage to over $15 an hour. But the move still falls short of the $15 minimum wage announced by some of its largest competitors. . . . more

Tanger Outlets says foot traffic is back to normal

Retail Dive
Tanger Outlets this week said that in January, footfall at its U.S. shopping centers returned to pre-pandemic levels, thanks to their outdoor orientation and value proposition. . . . more

Friday, February 19, 2021

Why an emboldened Walmart is looking to beyond retail for future growth

CNBC
Walmart wants to tap what it sees as its greatest asset: its reach. . . . more

Why mall landlord Westfield is leaving the US

CSA
In the U.S., an increasing number of retailers have decided to leave the traditional mall. Now one mall owner, Unibail-Rodamco-Westfield, is leaving the U.S. . . . more

Under Chicken Salad Chick drives expansion in new market

CSA
Chicken Salad Chick is growing its footprint in Indiana. . . . more

Ulta Beauty to open its second Manhattan store — in Herald Square

CSA
Ulta Beauty will open its second store in the Big Apple in one of the city’s most prominent retail corridors. . . . more

Giant to open two-level flagship in downtown Philadelphia

CSA
The Giant Company is expanding its portfolio in the City of Brotherly Love. . . . more

Thursday, February 18, 2021

Report: Loyalty customers spend more than twice as much on takeout meals

Restaurant Dive
Diners who are members of loyalty programs spent more than twice as much on takeout in 2020 than those who are not part of a loyalty program, according to a report from Paytronix Systems, done in partnership with PYMNTS.com. . . . more

P&G's Old Spice to open first barbershop

CSA
Old Spice, the men's grooming brand marketed by Procter & Gamble, next month will open its first barbershop that will also serve as a digital content studio, retail store and test lab to help develop new products. . . . more

Retail sales increased sharply in January, with gains across the board

CSA
Retail spending  rose well ahead of expectations in January, boosted by a new round of stimulus checks. . . . more

Neiman Marcus and JCPenney Are Among the Texas Retailers Forced to Close Stores as Winter Weather Deals $50B Economic Blow to Southern US

Footwear News
Neiman Marcus and JCPenney are adding their names to the growing list of Texas-based firms feeling the impact of treacherous winter weather that has lead to nearly two dozen deaths and dealt a heavy economic blow to the area. . . . more

2020 Was Wingstop's Year

Restaurant Business
It’s clear Wingstop CEO Charlie Morrison isn’t losing much sleep over the recent proliferation of delivery-only chicken wing brands. . . . more

Wednesday, February 17, 2021

Study: Top priorities for grocery shoppers post-pandemic will be…

CSA
Shopping and eating behaviors dramatically changed last year, and many shoppers plan to continue at least some of their new habits post-COVID-19. . . . more

Old Navy leases 13,000 s/f at Garden City Center

NEREJ
Old Navy is coming to Garden City Center in 2021, joining its Gap, Inc. sister stores, Athleta, Banana Republic, and Gap at Rhode Island’s premiere outdoor shopping center. . . . more

Best Store Design Awards: Davis Oil

CStore Decisions
Headquartered in Battle Creek, Mich., Davis Oil is a third-generation family-owned company with 20 c-stores in Michigan that operate under the ‘C-Store’ banner. . . . more

Tractor Supply acquires 167-store Orscheln Farm and Home

CSA
Tractor Supply Company is expanding its footprint in the Midwest through an acquisition. . . . more

One year later: How COVID-19 upended retail and what it means for 2021

Retail Dive
This time last year, U.S. retailers could only guess how the rapidly spreading coronavirus would impact operations. . . . more

Joann files for IPO

CSA
Joann is leveraging the surge in arts-and-crafts amid the pandemic to file to go public. . . . more

Ahold Delhaize sets ambitious sustainability, health goals

CSA
Supermarket conglomerate Ahold Delhaize USA is unveiling a detailed strategy to provide healthier products with a more sustainable supply chain. . . . more

Tuesday, February 16, 2021

9 Retailers That Could Get a Boost From a New Round of Stimulus, According to Analysts

Footwear News
Another round of fiscal stimulus could give a much-needed lift to a range of retailers as the persistent COVID-19 health crisis continues to slam the sector into the new year. . . . more

Five Below to open 170 to 180 stores in 2021

SOURCE
Five Below isn’t letting the pandemic stop its national expansion. . . . more

Swiss chocolatier to assume leases of 34 U.S. Godiva stores

CSA
Läderach – chocolatier suisse is expanding its fledgling U.S. footprint. . . . more

Friday, February 12, 2021

Walmart steps up reusable plastic container packaging for fresh produce

Supermarket News
Walmart has entered a multiyear pact to package fresh produce in reusable plastic containers (RPCs) from IFCO Systems. . . . more

WSJ: Best Buy cuts jobs, hours for some store workers as it pivots to digital

Retail Dive
Best Buy told employees it was reducing jobs and hours for an unspecified number of store workers, according to a Wall Street Journal report. . . . more

Captain D’s to open 15 new locations; launching new ‘Express’ format

CSA
Captain D’s is looking to expand its footprint via a new format. . . . more

Bed Bath & Beyond begins $250 million tech program with ERP upgrade

CSA
Bed Bath & Beyond Inc. is selecting Oracle as its enterprise resource planning (ERP) technology provider. . . . more

Dick's Sporting Goods expands clearance store concept

Retail Dive
Illustrating that the athletics retail market is not slowing down, Dick's Sporting Goods is opening five new locations this month, according to a company press release. . . . more

Nike brings ‘Live’ store format to its birthplace

CSA
Nike has expanded its small-format Nike Live retail concept to its birthplace of Eugene, Ore. . . . more

Retail sales to rise 8.1% in 2021, according to CGP forecast

CSA
Retail sales in 2021 will increase to a record $4.26 trillion, up 8.1% year-over-year, which is the highest this century. . . . more

Thursday, February 11, 2021

True Food Kitchen to open its first restaurant in New Jersey

CSA
True Food Kitchen, co-founded by Dr. Andrew Weil and co-funded by Oprah Winfrey, announced it will open a new location at The Shops at Riverside in Hackensack, N.J. -- just five miles from the George Washington Bridge. . . more

Party City eyes $725M bond sale to buy it time

Retail Dive
Party City plans to issue $725 million in new secured bonds due 2026 that it would use to pay off a term loan facility that matures next year, the company said in a press release. . . more

Boston area market gets $33.5 million re-finance to add a supermarket

CSA
Saugus Plaza Shopping Center, a northern suburb of Boston, has won a $33.5 million refinancing to add a new supermarket anchor. The new tenant was not named. . . . more

Sola Salon Studios Opens 60 New Locations And Achieves 15% Increase In Stylist Lead Volume In 2020

Plain Vanilla Shell
Sola Salon Studios, the world's largest salon studios franchise, is reporting significant growth in 2020, opening 60 new locations and signing 43 franchise agreements to develop 113 new salons throughout the U.S. and Canada over the next several years. . . more

DICK'S Sporting Goods Announces Grand Opening of Five Stores in Five States in February

Plain Vanilla Shell
DICK'S Sporting Goods (NYSE: DKS), the largest U.S.-based, omni-channel sporting goods retailer, will expand its nationwide footprint with the opening of one DICK'S Sporting Goods store and four Warehouse Sale stores in February. . . more

Last Kmart Store In Massachusetts To Close

CBS Boston
The last Kmart in Massachusetts is closing soon. The Hyannis store is listed on a liquidation firm’s website along with 32 other Sears and Kmart stores. . . . more

Aldi adding 100 stores in the U.S. in 2021

Plain Vanilla Shell
German grocer Aldi is expanding in the U.S., with plans to add 100 stores in 2021. . . . more

Wednesday, February 10, 2021

Burger King loyalty program test includes rewards via self-delivery

Restaurant Dive
Burger King is the latest QSR to launch a loyalty program, and is testing its offering in Los Angeles, Long Island, Miami, New Jersey and New York City, according to a company release Tuesday. . . . more

Ralph Lauren to shrink office and store footprint as sales remain sluggish

Retail Dive
As COVID-19 and brand issues continue to drag on Ralph Lauren's sales, the luxury apparel seller is cutting costs, including by shrinking its corporate office space and closing stores. . . . more

Kohl's turns to Eddie Bauer as outdoor sales surge

Retail Dive
Kohl's on Monday announced a tie-up with Eddie Bauer to launch this coming fall. . . more

The inconvenient truth about drugstores

Retail Dive
Cigarettes, tobacco alternatives, salty snacks, candy, packaged beverages and beer. . . more

Simon CEO: The suburbs will be ‘hot’

CSA
A big change coming out of the pandemic will be the shift from urbanization to suburban growth. . . more

Price Chopper/Market 32, Tops Markets to merge

Supermarket News
Northeastern grocers Price Chopper/Market 32 and Tops Markets plan to merge, creating a supermarket retailer with nearly 300 stores in six states. . . . more

Guy Fieri's Flavortown Kitchen Now Operating Out of Boston-Area Bertucci's

NBC Boston
It looks like one of the best-known celebrity chefs and restaurateurs in the country has quietly started to run ghost kitchens out of a chain with roots in the local area. . . . more

Monday, February 8, 2021

Carvana opens six new markets in three states

CSA
An omnichannel platform or buying and selling used cars is debuting in Louisiana and extending its reach in Texas and New Mexico. . . . more

El Pollo Loco Heats Up Franchise Expansion Plans

Restaurant News
El Pollo Loco, Inc. (“El Pollo Loco” or “Company”) (Nasdaq: LOCO), the nation’s leading fire-grilled chicken chain, is gearing up for aggressive expansion in 2021, driven by two new restaurant designs. . . more

Target’s activewear brand hits $1 billion in sales, as retailer gains ground in apparel

CNBC
Target launched its own line of workout clothes and exercise equipment about a year ago. Two months later, the pandemic turned much of the country into stretchy pants-wearing remote workers who converted garages into home gyms and cut back on shopping trips. . . more

AMC Entertainment CEO's unusual plan to keep theater chain afloat praised

Fox Business
But getting on the right side of the “Reddit rally” wasn’t always easy and sometimes required Aron to clash with his powerful Wall Street allies, including his friends at private equity giant Apollo Global Management, sources said. . . . more

Pizza Hut's momentum continues in Q4 with 8% same-store sales growth

Restaurant Dive
Yum Brands reported Q4 earnings Thursday, including an 8% increase in same-store sales at its Pizza Hut U.S. division. This marks the brand's best quarterly performance in 10 years, since U.S. same-store sales rose 10% in Q4 2010, analyst analyst Mark Kalinowski told Business Insider. . . . more

First Look: Men’s Wearhouse expands digitally enabled ‘next-gen’ store

SOURCE
Men’s Wearhouse is moving forward with a new store design that offers shoppers an omnichannel experience in a physical environment. . . . more

Simon seeks to block approval of Ascena Retail reorganization

CSA
Simon Property Group is sounding the alarm over Sycamore’s latest retail venture. . . . more

Friday, February 5, 2021

Taco Bell owner Yum Brands earnings top estimates, despite blow of international Covid restrictions

CNBC
Yum Brands on Thursday reported quarterly earnings and revenue that topped analyst predictions, despite international dining room closures weighing on same-store sales growth at KFC and Pizza Hut. . . . more

Dollar Tree’s Family Dollar taps Instacart to make same-day deliveries

CNBC
Third-party delivery company Instacart said Thursday that it will start making same-day deliveries for Dollar Tree-owned Family Dollar, a discount retailer that’s seen growth during the pandemic. . . . more

Sears is closing 13 more stores, further shrinking its footprint

Retail Dive
Transformco, the owner of the Sears and Kmart banners, is moving to close more stores after years of steady retrenchment. . . . more

30-year-old BurgerFi president thinks the chain can be the Shake Shack of the South

CSA
Business had dimmed for the Burger King in Lauderdale-by-the-Sea, Fla., and the location closed up in 2011. It’s a small seaside town and the BK just couldn’t sustain its base volume. But in moved another burger joint nobody had ever heard of called BurgerFi. The fast-casual’s menu of fresh burgers, hand-cut fries, chicken, hot dogs, and custard scored a hit with local diners and is still in business today--it and 124 other BurgerFi restaurants stretching from Texas to Florida to Upstate New York. . . . more

Nordstrom long-term growth strategy focuses on smaller-format stores, Rack and digital

CSA
Nordstrom expects its revenue to grow more than 25% in 2021, with digital claiming approximately 50% of total sales. . . . more

Stop & Shop introduces pickup locker at Boston store

CSA
A Northeast regional grocer is debuting a new contactless option for fulfilling online orders. . . . more

Family Dollar goes national with same-day delivery

CSA
A leading discounter is the latest in a growing line of retailers outside the grocery sector l to partner with Instacart. . . . more

Thursday, February 4, 2021

For Neiman, Saks, Nordstrom the retail battle is getting more personal

CNBC
Personal shopping services once reserved for the wealthiest consumers are becoming increasingly popular amid the pandemic as high-end retailers shift online and consumers make more retail purchases from home. . . . more

Tarka Prepares for 2021 Following Impressive Sales Year

Plain Vanilla Shell
Despite trying times for the restaurant industry in 2020, Tarka Indian Kitchen proved to be a best-in-class brand that has staying power. . . more

McDonald's expands loyalty test to New England restaurants

Restaurant Dive
McDonald's said on Wednesday that it added restaurants in New England to its U.S. loyalty program pilot several weeks ago, entering the next phase of the test before the program launches nationwide, CNBC reports. The chain started the trial in Arizona and Nevada in November, and about 900 of McDonald's 14,000 U.S. locations are part of the test as of Wednesday. . . . more

Coach parent company Q2 beats Street; ‘optimistic’ on 2021

CSA
Tapestry Inc. reported second-quarter earnings and sales that beat estimates as its turnaround plan continues to gain momentum. . . more

At Home resumes national growth strategy

CSA
At Home Group has opened its first new stores of the year. . . more

L Brands on hunt for new CFO; to complete separation of brands by August

CSA
A 20-year veteran of L Brands is retiring but will remain long enough to see the company separate its two brands — Victoria’s Secret and Bath & Body Works — by this summer. . . more

Kohl’s sees Q4 sales down but earnings to top Street; cites gaining momentum

CSA
Kohl's Corp. reported better-than-expected earnings and strong digital sales in a preliminary look at its fourth-quarter performance. . . . more

Wednesday, February 3, 2021

What 2021 means for sports marketing — and how Foot Locker's approaching it now

Retail Dive
The athletics market has been crowned one of the winners of the pandemic, but the picture is more complicated than that narrative suggests. According to a joint report from McKinsey & Company and the World Federation Sporting Goods Industry, the global sporting goods market contracted in 2020 for the first time since the financial crisis. . . . more

PGA Tour Superstore to continue expansion

CSA
On the heels of a record 2020, PGA Tour Superstore expects to reach an important store milestone this year. . . . more

Where to run a store now

Retail Dive
Where to run a store now. . . . more

GameStop's stock exploded, but traffic to its stores is still down

Retail Dive
GameStop's stock has famously exploded over the past two weeks or so. At the video game retailer's stores, however, the company's challenges continue. . . . more

Jeff Bezos to step down as CEO of Amazon

CSA
Jeff Bezos is stepping down from the helm of the company he founded in 1994. . . . more

Tuesday, February 2, 2021

Chipotle pilots carside pickup

Restaurant Dive
Chipotle announced Thursday the chain is testing carside pickup at 29 California restaurants, according to a company release. Diners can select "Carside Pickup" at checkout through the Chipotle app to use the service at participating locations. . . more

Do malls have any business getting into retail?

Retail Dive
In the past several months, continuing a practice begun with the 2016 acquisition of teen apparel retailer Aeropostale, Simon Property Group acquired a slew of retailers. In a way, bankruptcy courts last year served as shopping centers of a sort themselves. Simon, in partnership with licensing and brand management firm Authentic Brands Group (via their 50/50 joint venture, Sparc), bought Lucky Brand and Brooks Brothers; earlier in the year, with rival Brookfield, they bought Forever 21. At the end of the year, Brookfield and Simon snapped up J.C. Penney for a cash payment of $692 million and new term debt. . . more

Britain’s JD Sports in $495 million deal to buy another U.S. retailer

CSA
JD Sports, the owner of The Finish Line, continues to expand its U.S. retail portfolio. . . more

McDonald's plans to open 500 US restaurants in 2021

Plain Vanilla Shell
During its recent Q4 earnings call, McDonald's announced plans to open about 500 new restaurants in the U.S., part of a bigger plan to open more than 1,300 new locations around the world. During the call, CFO Kevin Ozan said the company will spend nearly half of its $2.3 billion of capital to open those restaurants, calling new restaurant development an "important driver of our growth.". . . more

Monday, February 1, 2021

Pandemic derails Toys 'R' Us store comeback

CSA
Toys “R” Us has reportedly closed the two stores it opened under its new owners. . . more

H&M Q4 Profit Declines, Online Sales Climb; To Close 350 Stores In FY21

Plain Vanilla Shell
Swedish retailer Hennes & Mauritz AB or H&M Group (HNNMY.PK, HMRZF.PK, HEN.L) reported Friday that its fourth-quarter profit after tax fell to 2.49 billion Swedish kronor from 4.21 billion kronor. Earnings per share were 1.50 kronor, lower than 2.54 kronor a year ago. . . . more

New Studio Fitness Brand, Volofit, Adds 15 New Units to Franchise Network

Plain Vanilla Shell
Unique fitness studio brand, Volofit has announced 15 new units that span Minnesota, Arizona, Pennsylvania, and North Carolina. . . more