Strategy

By Tom Stockham, [email protected]

Remember the days when stores differentiated themselves against the competition on service? When consumers sought out expert product recommendations from knowledgeable sales associates? And bought from the one who worked hardest to help them find just the right product for their needs?

Washington, D.C. – Despite economic challenges, the restaurant industry should experience its fifth consecutive year of sales growth in 2014. According to the National Restaurant Association (NRA) 2014 Restaurant Industry Forecast, industry sales are projected to exceed $683 billion in 2014, up 3.6% from 2013’s sales volume of $659.3 billion.

Office Depot has appointed Michael A. Steele as VP of investor relations. Steele, who most recently served as VP of investor relations for OfficeMax, where he had been employed since July 2007, will report to Stephen E. Hare, EVP and CFO.

Steele will develop and execute Office Depot’s investor relations strategy, serving as the primary interface for management with the financial community. He plans to relocate to the Office Depot corporate headquarters in Boca Raton.

Houston — Fuddruckers has opened its first Dominican Republic restaurant in Santo Domingo through a partnership with franchisee Eduardo J. Gadala-Maria and Giancarlo Bonarelli.

The 3,500-sq.-ft. unit opened in Galeria 360, one of several new shopping malls in the city. Galeria 360 features 120 stores and restaurants plus a large movie theater.

Minneapolis – Target Corp. will reportedly testify about its recent massive holiday data breach in a Congressional hearing in early February 2014. According to Reuters, a Congressional commerce, manufacturing and trade subcommittee headed by Rep. Lee Terry (R-Neb.) will investigate large data breaches and their effect on consumers.

Best Buy’s defense of its market share proved costly during the holidays as greater-than-expected price cuts caused same-store sales to decline 0.9%, resulting in significant margin erosion and a vow to accelerate cost-cutting efforts in 2014.

Total sales for the nine-week period ended Jan. 4 declined slightly to $11.5 billion, with the domestic segment accounting for $9.75 billion of those sales. While domestic same store sales fell 0.9%, the company can take some comfort in the fact that its online comps increased 23.5%.

Washington, D.C. — The Fairfax County Board of Supervisors has approved the rezoning application for Combined Properties’ Penn Da Plaza in Alexandria, Va. The project will completely redevelop the current retail center and replace it with a mixed-use project containing up to 400 new apartments, 41 townhomes and 35,000 to 45,000 sq. ft. of community retail. Combined Properties plans to anchor the retail component with a specialty grocer.

Washington, D.C. - Slipstream, a new coffee and cocktail business with its flagship location set to open along 14th Street in Logan Circle in Washington, D.C., will open in spring 2014. Slipstream will focus on service,e as well as the journey of coffee from source to sip and will complement the coffee with crafted cocktails in the evening.