Corporate Governance

Restaurant giant in $1.8 billion acquisition
Popeyes Louisiana Kitchen is about to get a new owner. Restaurant Brands International Inc., owner of Burger King and Tim Hortons, announced it would acquire Popeyes Louisiana Kitchen for $1.8 billion in cash.
Restaurants at retail: What’s the recipe for success?
Restaurants are the current darlings of the shopping center developers. It was reported last year that Americans spent more money at bars and restaurants (a total of nearly $55 billion) than they did on groceries. In case you were wondering how big a deal that is, consider this: It was the first time in recorded history that that was the case. But that’s not the only reason that shopping center owners are mad for restaurants. They are also hubs of social activity that contribute to that all-important and often elusive experiential energy.

Richmond-area center to be sold at auction

The Shops at Stonehenge in Chesterfield County, Virginia, south of Richmond, will be sold in a foreclosure auction this week, according to a report in the Richmond Times-Dispatch.
Home Deport surges amid higher-than-expected sales, profit

The Home Depot is closing in on the $100 billion mark in annual sales.

The Atlanta-based retailer posted a 6.4% increase in same-store sales in the United States, and 5.8% overall, for the quarter ended Jan. 29.

CEO Craig Menear credited merchandising mix and digital prowess for the chain’s better-than-expected fourth quarter performance, which saw sales increase to $22.2 billion in the fourth quarter, up 5.8% from 21.0 billion in the same quarter last year.
Wellness retailer’s new loyalty program gets personal

GNC Holdings plans to drive customer engagement by rewarding individual customers with targeted incentives.
Resort-wear brand goes omnichannel

The Tori Richard brand is a staple in Hawaii, but it’s taking steps to expand sales across the continental United States. A company founded as a women's wear brand 60 years ago in Honolulu, has since become an internationally recognized men's and women's resort wear brand available in its 17 stores and approximately 2,500 wholesale accounts, including in Neiman Marcus, Saks Fifth Avenue and Nordstrom. This breadth contributes to sales that span across the main-land U.S., Latin America, and Asia-Pacific.
Another department store retailer misses

Slowing mall traffic continued to slow Dillard’s sales in the fourth quarter. Net income for the quarter ended January 28, 2017, was $56.9 million compared to net income of $84.0 million in the year-ago period. Included in the amount is an after-tax asset impairment of $4.2 million on a cost method investment. Net sales for the period were $1.94 billion, down from $2.07 billion last year. This missed analyst estimates of $1.999 billion.
Men’s specialty retailer streamlines financial transaction auditing

As retailers expand the breadth of their omnichannel operations, they need better visibility into their financial data. This is not an easy task for retailers like Tailored Brands, whose expansive retail portfolio includes Men's Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G Fashion Superstore. The company also operates a global corporate apparel and workwear group consisting of Twin Hill in the U.S. and Dimensions, Alexandra and Yaffy in the U.K.
Nordstrom Rack location set for Baltimore center

Nordstrom Rack announced it would open its first Baltimore store at The Shops at Canton Crossing in spring 2019. It will be part of the center’s 90,000-sq.-ft. Phase II addition, which is expected to begin construction in November.
Macy’s Q4 earnings slump, but still beat analysts expectations

Store closures, layoffs and shifting consumer preferences weighed down Macy’s bottom line, negatively impacting its fourth quarter earnings. And the retailer doesn’t see its slump ending in the near future. Macy's net income fell to $475 million in the quarter ended Jan. 28, compared with $544 million in the year-ago period. Adjusted earnings per share came to $2.02, better than analysts had expected. Analysts had expected $1.95 per share for the quarter, according to FactSet.
Commentary: Implications for Grocery Retailers as Lidl Launches Stateside

While Lidl has made clear its plans to expand to the U.S., many grocery retailers may not have expected it to make its stateside debut quite so soon. Recent reports that the chain will open its first stores on U.S. soil this summer, ahead of schedule, mean that the pressure is on for domestic grocery chains to determine how to react to their latest challenger.
Walmart Q4 sales surge online and offline

Walmart on Tuesday reported a solid fourth quarter amid a big increase in online sales and higher store traffic. The company also announced it is raising its dividend. Walmart earned $3.76 billion, or $1.22 per share in the quarter ended Jan. 31, compared with $4.57 billion, or $1.43 per share, in the year ago period. Walmart’s earnings were impacted by investments in its digital business as it continues to boast its defenses against Amazon and other online competitors.