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Archives » Acquisitions/Biz Buzz
‘The Daily Wrap:’ Rite Aid, Target, GGP
Rite Aid Tests Grocery Concept
Struggling drugstore chain Rite Aid has entered into a licensing agreement with Save-A-Lot to add the discount, limited assortment grocery store concept to Rite Aid’s 10 existing stores in the Greenville, SC market. The stores will be co-branded Save-A-Lot Food Stores/Rite Aid Pharmacy and will continue to be owned and operated by Rite Aid. Source: Rite Aid...
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‘The Daily Wrap:’ Starbucks, Blockbuster, Wal-Mart
Starbucks Tests BlackBerry App
Coffee retailer Starbucks is testing a new application for the BlackBerry mobile platform at eight stores in the Seattle market. The app lets customers check and reload gift card balances, as well as pay for items in-store. Source: IntoMobile
Blockbuster Misses Bond Payment
Struggling media entertainment retailer Blockbuster, which reportedly may file for Chapter...
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‘The Daily Wrap:’ Burger King, Walgreens, Dunkin’ Donuts
3G Buys BK
Private equity firm 3G Capital has purchased public fast food chain Burger King for $4 billion. That figure equals 46% more than Burger King’s share value at the time of the deal. Source: CNN/Money
Walgreens Buys 18 ApothecaryRx Stores
Drugstore retailer Walgreens will acquire the assets of 18 ApothecaryRx pharmacies located in Colorado, Oklahoma, Minnesota, Missouri and Illinois....
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‘The Daily Wrap:’ Burger King, Amazon, Bashas’
Burger King Said to Hold Buyout Talks With 3G Capital
Fast food retailer Burger King Holdings, Inc. is reportedly in talks with 3G Capital about a buyout. The public company could potentially improve troubled relations with its franchisees and differentiate itself from chief competitor McDonald’s by selling its business to a private equity firm. Source: Bloomberg
Amazon Plans New...
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‘The Daily Wrap:’ Dollar General, Wal-Mart, Hannaford
Dollar General Increases Net Income by Half
Dollar store retailer reported net income of $141.2 million in Q2 fiscal 2010, a 51% year-over-year increase. Dollar General also grew gross margin, operating profit and same-store sales. Source: Dollar General
Wal-Mart Canada Pushes Private Label
Wal-Mart Canada is giving its private label fashion range George a revamp and retrofitting the apparel...
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RPI Declines 4th Straight Month - Update
The Restaurant Performance Index (RPI) declined for [pdf] the fourth straight month in July 2010, signifying continuing contraction in the food service vertical. The index of restaurant performance, which shrank 0.1% from 99.5 in June to 99.4 in July, dropped 0.3% from 99.7 in May to 99.5 in June, after initially slipping from 100.4 in April.
The RPI previously remained below 100, signifying...
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‘The Daily Wrap:’ Ikea, Best Buy, Johnny Rockets
Ikea Expands in China
Home furnishing retailer Ikea, which is speeding up its expansion in China, plans to open four new stores across the country during the next two years. Ikea will open its second store in Shanghai next year and open locations in Tianjin and Wuxi, as well as its second store in Beijing, in 2012. Source: China Daily
Best Buy Names Chief Design Officer
Consumer electronics...
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Store Openings and Closings Update - August 2010
A comparison of store openings and closings by leading retailers in several major verticals shows that the recession has had a varying impact on retail store growth strategies.
Discounters Slow Down Domestic Store ExpansionIn a plan issued April 2010, discount retailer Wal-Mart said it intends to grow in major metropolitan markets domestically, with new formats while making existing formats...
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Dollar Stores Pursue Growth
What many economists describe as the “new normal” of consumer frugality has been beneficial to the dollar store vertical. Leading players Dollar General and Family Dollar have both been pursuing growth and reporting impressive same-store sales increases as the poor economy has negatively impacted many other major retail chains.
Family Dollar Expands Assortment, Spreads the WordFamily Dollar...
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‘The Daily Wrap:’ Dunkin’ Donuts, Sears, Toys R Us
Dunkin’ Donuts Opens 338 New Stores
Dunkin’ Donuts quickened the pace of new store openings this year, with 338 net new locations unveiled worldwide during the first six months, compared with just 175 new shops during the same period last year. Source: Boston Globe
Sears Unveils Craftsman Experience
Broadline retailer Sears Holdings Corporation is opening its first interactive “Craftsman...
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