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‘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:’ 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:’ Blockbuster, Kroger, Borders

Blockbuster Bankruptcy in Works Could Shut 800 Stores
According to several published reports quoting sources familiar with the situation, struggling media entertainment chain Blockbuster will enter a “pre-planned” bankruptcy in mid-September 2010 that will allow it to restructure a debt load of nearly $1 billion, as well as escape leases on 500 to 800 of its worst-performing brick-and-mortar...
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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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‘The Daily Wrap:’ Macy’s, Walgreens, Gap

Macy’s Improves Q2 Sales
Upscale department store retailer Macy’s, Inc. improved sales 7.2% during Q2 fiscal 2010. Macy’s also increased online sales 28.1% during the quarter. Source: Macy’s, Inc.

Walgreens Addresses Chicago Food Deserts
Drugstore retailer Walgreens is offering new expanded food selection in several Chicago communities identified as food deserts, or areas that lack access to...
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‘The Daily Wrap:’ CKE, Borders, Blockbuster

Equity Firm Completes CKE Buyout
Columbia Lake Acquisition Holdings, an affiliate of Apollo Management VII LP, has completed its estimated $694 million acquisition of CKE Restaurants, Inc., which runs the Carl’s Jr. and Hardee’s fast food chains. CKE operates and franchises 3,141 restaurants in 42 states. Source: Business Week

Borders Sells UK Subsidiary
Book retailer Borders Group has...
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‘The Daily Wrap:’ Wal-Mart, GGP, Retailer Survival

Wal-Mart Names New US CEO
Bill Simon, 50, has been promoted to president and CEO of Walmart U.S. Meanwhile, Vice Chairman Eduardo Castro-Wright, 55, has been appointed president and CEO of Global.com. Source: Wal-Mart Stores, Inc.

GGP Expects July Reorganization Plan
Bankrupt shopping mall operator General Growth Properties, Inc. expects to issue a Chapter 11 plan of reorganization around July...
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‘The Daily Wrap:’ Walgreens, Sears, Tim Horton’s

Walgreens Net Earnings Drop
Drugstore retailer Walgreens reported a drop in Q3 fiscal 2010 net earnings of about 13%. However, Walgreens’ quarterly sales increased about 6%, while comparable store sales rose 0.7%. Source: Walgreens

Sears Plans Digital Movie Sales
Broadline retailer Sears plans to launch an online store selling digital downloads of movies and TV shows. The store will use the...
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‘The Daily Wrap:’ Best Buy, Wal-Mart, Toys R Us

Best Buy Improves Domestic Market Share
Consumer electronics retailer Best Buy Co., Inc. grew domestic market share by 1% and domestic revenue by 5% in its fiscal Q1 2011. Worldwide revenue increased 7%, aided by net new stores, a 2.8% comparable store sales gain and favorable currency rates. Source: Best Buy Co., Inc.

Wal-Mart Unveils New Design
Numerous Wal-Mart stores across the country are...
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‘The Daily Wrap:’ McDonald’s, The Pantry, Facebook

McDonald’s Recalls ‘Shrek’ Glasses
Fast food retailer McDonald’s is recalling 12 million drinking glasses linked to a promotion of the film “Shrek Forever After” because they contain the toxic metal cadmium. Purchasers will be eligible for a refund. Source: Los Angeles Times

The Pantry Reports Interest in Sale of 74 Sites
Convenience store retailer The Pantry says it has received...
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