Strategy

New York -- Drugstore retailer Duane Reade, a division of Walgreens, is expanding its Manhattan footprint with a second distinct location in the city’s Financial District. The new, 22,000-sq.-ft. store boasts a number of amenities, and—in a first for a U.S. drug store—also features a museum-quality exhibit that pays tribute to the neighborhood and hallowed grounds of downtown Manhattan. 

New York -- The Dannon Co. on Monday made its first entry into the restaurant business with the opening of The Yogurt Culture Co., in Manhattan.

The restaurant is located at 125 Park Ave., between 41st and 42nd streets. It offers small-batch premium yogurt (as opposed to the company’s pre-packaged product that is sold in grocery stores) and fruit purees and other toppings.

Sandpoint, Idaho -- Private equity firm Golden Gate Capital has provided Coldwater Creek with a five-year, $65 million senior secured term loan. The retailer also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, which matures on May 16, 2016.

Foot Locker is debuting a new retail brand, The Locker Room, in the United Kingdom. The format was unveiled at the end of 2011, in Brent Cross Shopping Centre, North London. Two additional stores opened in spring 2012, in Birmingham’s Bullring shopping center, and in London’s Lakeside center.

By Renato Scaff, [email protected] and Mark Allen, [email protected]

While the proliferation of new products, personalized services, and digital channels are giving consumers more shopping options than ever, they also are making it tough for traditional retailers and consumer goods manufacturers to capitalize on the demand being created. Succeeding in this environment will require a new level of seamless retail-supplier collaboration.

Birmingham, Ala. -- Hibbett Sports announced plans to build a wholesaling and logistics facility in Alabaster, Ala.

Construction on the new 360,000-sq.-ft. center is expected to commence in fall 2012 with the facility expected to be fully operational by fall 2014. When completed, it will replace the existing 180,000-sq.-ft. facility that the company currently leases in Birmingham.
 

New York – Best Buy is cutting 2,400 employees, including 1,800 store employees and 600 Geek Squad technical support associates, employees, as it seeks to restructure operations, the Associated Press reported.

The layoffs amount to about 1.4% of the company’s total staff of 167,000. A Best Buy spokesman, Bruce Hight, said the cuts were part of the company’s “ongoing turnaround plan,” according to the report.

Allegations of worker abuse prompted Walmart to suspend a small seafood supplier earlier this week pending the outcome of an investigation, according to a Reuters report.

The rhetoric over allowing foreign direct investment in India is reminiscent of the rhetoric that would have occurred in the United States 30 years ago had Walmart’s critics knew then what they profess to know now.

It may be back to basics in Walmart’s apparel department, but shoppers still crave discounted brands and fashion as evidenced by continued strength at some familiar retailers.

TJX and Ross Stores both posted same-store sales increases of 7% during June, and both companies used the occasion of the better-than-expected results to elevate their profits forecasts. TJX said June sales increase 9% to $2.3 billion, while Ross said its June sales increased 12% to $886 million.