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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:’ 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:’ 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:’ Starbucks, Chipotle, Kroger
Starbucks Pilots ‘Olive Way’ Concept
Coffee retailer Starbucks is piloting a coffeehouse store format known as “Olive Way.” To be launched in Seattle in fall 2010, it features wine and beer sales, plush furniture, espresso machines in the center of the store, and narrower counter space. Source: Lake Wylie Pilot
Chipotle Opens 1,000th Store
Casual dining retailer Chipotle Mexican Grill...
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‘The Daily Wrap:’ Kroger, Whole Foods, Smashburger
US Bank Purchases Kroger Credit Cards
U.S. Bank has acquired supermarket retailer Kroger’s existing credit card portfolio from RBS Citizens N.A., a unit of Royal Bank of Scotland. The portfolio includes funds from Kroger’s personal finance products, including, credit monitoring, identity theft protection, gift cards, money services, pet insurance, credit cards and prepaid debit cards. Source:...
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‘The Daily Wrap:’ Wal-Mart, Dunkin’ Donuts, B&N
Wal-Mart Expands Consumer Tech Assortment
Discount retailer Wal-Mart is expanding its assortment of consumer technology and home entertainment products. Wal-Mart is offering more streaming blu-ray players, internet-ready HDTVs, wireless networking devices, and home theater systems, among other items. Source: Wal-Mart Stores, Inc.
How Not to Run an Online Promotion, Dunkin’ Donuts Style
It is...
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‘The Daily Wrap:’ Denny’s, Nordstrom, Social Media
Denny’s Adds 10 Stores
Casual dining chain Denny’s opened 10 new restaurants during Q1 2010, for a net addition of eight locations. New unit openings highlighted by four restaurants in Flying J Travel Centers and one university campus location in partnership with Sodexo. Source: Denny’s
Nordstrom Rack Takes Manhattan
Nordstrom is opening its first Manhattan store, an outlet of its...
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‘The Daily Wrap:’ CVS, Movie Gallery, Google
CVS Reports Record Q1 Results
Drugstore retailer CVS Caremark has reported record financial results for Q1 fiscal 2010, including net revenues of $23.8 billion. Operating income totaled $773 million. Source: CVS Caremark
Movie Gallery to Cease US Operations
Media entertainment retailer Movie Gallery plans to close its remaining 2,145 U.S. stores. Movie Gallery, which recently placed its U.S....
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‘The Daily Wrap:’ Walgreens, Dunkin’ Donuts, GameStop
Walgreens Completes Duane Reade Purchase
Drugstore retailer Walgreen Co. has completed the acquisition of Duane Reade Holdings, Inc. The transaction includes all 258 Duane Reade stores in the New York City metropolitan area, as well as Duane Reade’s corporate office and two distribution centers. Source: Walgreen Co.
Dunkin’ Donuts Cooperates with Amex on Rewards
Dunkin’ Donuts is being...
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‘The Daily Wrap:’ Dunkin’ Donuts, eBay, Subway
Dunkin’ Donuts Pilots Value Menu
Coffee retailer Dunkin’ Donuts is piloting a new value menu in the Indianapolis, Fort Wayne and South Bend, IN markets. Six items, including three egg-and-cheese wrap sandwiches, a coffee roll, nine-piece hash browns and five munchkin mini-donuts, will be available for 99 cents each in 22 stores. Source: Dunkin’ Donuts
eBay Introduces fashion.ebay.com