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Today in the news

Warby Parker fuels new eyeglass rivalry
posted on May 25 16

Warby Parker‘s popular low-priced eyeglasses model has raised the bar for two long-time New York City eyewear retailers. Moscot has responded by giving its store a hipster makeover, while 130-store franchisor Cohen’s Fashion Optical has launched a private-label line that sells for less than $100 a pair. Read The New York Times story here

Posted by: Mike Pallerino
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Lucky Dragon on track to open in 2016
posted on May 25 16

The Lucky Dragon casino project in Las Vegas is on track for completion by year’s end. As the first ground-up casino development in Las Vegas in six years, the opening of Lucky Dragon Hotel & Casino will mean more options for Las Vegas visitors and locals alike. Read the Travel Weekly story here

Posted by: Mike Pallerino
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Pei Wei Asian Diner details growth plans
posted on May 24 16

Arizona-based Pei Wei Asian Diner opened 12 new restaurants last year and will roll out 15 more in 2016. The chain is expanding its menu and tweaking design as it opens new stores, and it will roll out a mobile ordering and payment app this summer. Read the Nation’s Read the Restaurant News story here

Posted by: Mike Pallerino
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Gap to close 75 stores, Old Navy brand to exit Japan
posted on May 24 16

Gap will close all 53 Old Navy stores in Japan and focus its efforts on China and North America, according to a company statement. The retailer, which operates 3,700 stores worldwide, will close 75 Old Navy and Banana Republic stores outside North America in a cost-cutting measure expected to save the company $275 million annually. Read the The Philadelphia Inquirer story here

Posted by: Mike Pallerino
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Target aims for growth after changes to grocery selections
posted on May 23 16

Target expects to see better profits from its grocery section after an aisle-by-aisle reset to highlight its dry grocery offerings. The company debuted about 1,000 new items, transitioned its Simply Balanced brand into 30 more categories, and moved nutrition bars to the middle of the store, generating positive feedback. Read the Supermarket News story here

Posted by: Mike Pallerino
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