Strategy

The Kroger Co. lowered its earnings guidance amid a decline in Q1 same-store sales as price competition in the supermarket industry intensifies.    Sales rose 4.9% to a better-than-expected $36.3 billion for the quarter ended May 20, up from $34.6 billion last year. Same-store sales excluding fuel declined 0.2%, the second consecutive quarter of decline.  

A J.C. Penney store is going to be displaced by a fancy fitness club.   Simon announced that the J.C. Penney store at Southdale Center, in Edina, Minn., will close and be replaced by a Life Time fitness center, or ‘athletic resort.’ Expected to open in early 2019, the three-level facility will be operated by Life Time, which currently runs 123 centers in the United States. The centers are designed as one-stop fitness shops offering tennis, swimming, basketball, and yoga along with weight loss and nutrition education.

Already under the gun to improve business operations, Whole Foods Markets’ founder and CEO finds himself in a new struggle.  

The J.C. Penney store in Edina, Minnesota, with little movement in the aisles is about to see a lot more action.    Simon has announced that the 120,000-sq.-ft. space at its Southdale Center will close and be replaced by a Life Time ‘athletic resort.’ The company runs 123 centers in the U.S. promoting healthy eating and exercise regimens. Centers are one-stop fitness shops offering tennis, swimming, basketball, and yoga along with weight loss and nutrition education.  

At Home, the fast-growing home decor and accessories retailer, continues to grow its store presence.   The retailer has opened its first Massachusetts location, in Seekonk. It's one of 25 stores the chain will open this year.    

Sports Direct, the largest sporting goods retailer in the United Kingdom, has expanded its presence in the United States.   The company announced that it has completed its acquisition of Bob's Stores and Eastern Mountain Sports. It will initially operate a total of some 50 stores in the Northeast and five EMS outdoor adventure schools, along with e-commerce sites for both brands.   

A recent job listing by Amazon has raised speculation that the online giant plans to roll out its checkout-free convenience store concept, Amazon Go.    The online giant recently posted a job listing seeking a senior real estate manager for Amazon Go. The role will be based in Seattle and will include travel.   

The nation's largest toy store retailer saw its sales decline and net loss widen in a rough first quarter. For the quarter ended April 29, Toys "R" Us reported a net loss of $164 million. That's up from net loss of $126 million in the year-ago period.