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Today in the news

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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Sports Authority to liquidate, close all its stores
posted on May 23 16

Liquidators bought all of Sports Authority‘s assets in a bankruptcy court auction this week, with plans to start going-out-of-business sales in the next few days and run them through Aug. 31 or later, after which the stores will close, according to court documents. Rival Dick’s Sporting Goods plans to bid on about two dozen of Sports Authority store leases, and it has already launched ads to woo Sports Authority’s loyalty card members. Read The Denver Post story here

Posted by: Mike Pallerino
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Old GM plant in N.Y. to become $1B mixed-use development
posted on May 23 16

Nearly 70 acres in Sleepy Hollow, N.Y., that once housed part of a General Motors assembly plant are being converted for a $1 billion mixed-use development with residential, retail, restaurants and a hotel. A temporary bridge for construction vehicles is being built, and site grading will begin soon. The project’s first-phase housing units should open in 2018. Read The Journal News story here

Posted by: Mike Pallerino
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