Category Archives: News

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Friendly’s shutters 23 Northeast locations

Friendly’s has closed 23 more restaurants around the Northeast, including three in the company’s home state of Massachusetts, according to a letter sent to franchisees. Read The Boston Globe story here

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Report: 75,000 retail stores likely to shutter by 2026

About 7% of retail stores, or 75,000, will likely close by 2026, per a UBS report, which notes that a process of “store rationalization” will continue. The report indicates that online sales will grow to 25% of the market share …

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Bed Bath & Beyond to try out new store formats

Bed Bath & Beyond will test new products, assortments and displays with the opening of several new concept stores and the launch of new private-label furniture lines, according to The Wall Street Journal. The retailer, which reported a sales dip …

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Olympics fuels hotel building boom in Japan

Japan will see 11 new hotels open by 2021, with construction prompted by the 2020 Summer Olympics. Ritz-Carlton, InterContinental, Hyatt and JW Marriott all have projects ongoing. Read the Travel Weekly story here

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IHG seeks opportunities to grow luxury segment

InterContinental is interested in more acquisitions and growth in the luxury segment after buying Six Senses. Read the Hotel News Now story here

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WSJ: Fred’s could downsize further to turn around sales

Memphis-based discount retailer Fred’s is working with advisers on a plan to further downsize and engineer a turnaround without filing for bankruptcy protection, according to The Wall Street Journal. The company plans to shutter 179 of its 600 stores, selling …

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REI maps growth after adding members, stores in 2018

Outdoor gear retailer REI added more than 1 million new members and five new stores last year, and plans to grow by six more locations in 2019, the retailer said. Read The Seattle Times story here

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Whole Foods rolls out Prime Now service to more markets

Amazon.com Inc. and Whole Foods Market have launched Prime Now online grocery delivery and pickup at more stores. Read the Supermarket News story here

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Canada Goose to grow international presence

Upscale outerwear brand Canada Goose is planning to open three new retail locations in Canada: Toronto, and in Alberta’s Edmonton and Banff. The company also has plans to open a shop in Minneapolis, Paris and Milan. Read the Financial Post …

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Kohl’s bets on fitness, partnerships to grow sales

Partnerships and space-sharing deals with players such as Amazon and Planet Fitness are vital components to Kohl’s growth strategy. The wellness and active categories now account for 20% of the retailer’s business, she said, and having Planet Fitness gyms on-site …

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