Corporate Governance

Ann Arbor, Mich. - Customer satisfaction with retail is down for the first time in four years. According to a report by the American Customer Satisfaction Index (ACSI), all brick-and-mortar retail categories show weakening or flat customer satisfaction for the fourth quarter of 2014.  Internet retail satisfaction, however, is up from the same quarter in 2013.

Brentwood, Texas -- Tractor Supply Company will open its 1,400th store, in Eunice, Louisiana, on Feb. 21. The location is one 110 to 115 new stores the retailer plans to open this year.

"We are thrilled to be celebrating another milestone in Tractor Supply's growth story, with the opening of our 1,400thstore," said president and CEO Greg Sandfort. "We believe there is still tremendous expansion potential ahead, and we are excited for the opportunity to serve the rural lifestyle in new markets."

Scottsdale, Ariz. -- Amazing Lash Studio, a fast-growing franchisor of eyelash extension studios is starting 2015 by welcoming new regional developer partners who will open nearly 100 studios in Nevada, Utah, Idaho, Illinois, New Jersey and New York. This nearly doubles the coverage of the Amazing Lash Studio brand to 15 states across the country.

Franchise veterans Ren and Michelle Waters have partnered with Terry and Leslie Rock to develop 20 studios in the Nevada, Utah and Idaho regions for Amazing Lash Studio.

Conshohocken, Pa. -- Ikea has chosen R&O Construction to serve as construction manager for the site work and store development of its future 351,000-sq.-ft. location in Las Vegas.

Pending remaining approvals, the project will continue on track for site work to commence this month, with groundbreaking during spring 2015. The store is scheduled to open in summer 2016.

By Jim Haller, NPI

The words “raising rates” are enough to elicit a face-in-palms reaction from any online retailer – especially when it comes to small parcel shipping. Yet, a different reaction may be in order as the United States Postal Service announces its intent to raise rates later this year.

Minneapolis – Target Corp. is reportedly localizing the assortments at its smaller-footprint Target Express stores to a high degree.  The Minneapolis-St. Paul Star Tribune reported that since opening its first Target Express in the Dinkytown neighborhood of Minnesota in summer 2014, the discounter has carefully considered local customer demographics when stocking shelves.

Canton, Mass. – Dunkin’ Donuts is growing its presence in the Hoosier state. The company has signed multi-unit store development agreements with two existing franchise groups to develop 46 restaurants in Indiana during the next several years.  

New York – Billionaire activist investor Carl Icahn has increased his investment holding in EBay Inc. In his regulatory filing for fourth quarter 2014, Icahn disclosed that he purchased about 446,000 shares of EBay.

Grapevine, Texas – Private equity firm Altamont Capital Partners has purchased specialty restaurant chain Cotton Patch Café, which operates 45 locations in Texas, Oklahoma, and New Mexico. Kathy Nelson, CEO of Cotton Patch, participated in the investment and will continue in her role.

Altamont Capital also holds major investments in franchisees of the Taco Bell and Sonic Drive-In fast-food chains. Terms of the deal were not disclosed.

Chicago - Restaurant group Lettuce Entertain You Enterprises (LEYE) has moved its 25-year-old loyalty program to the Paytronix Rewards platform. LEYE opted to switch because Paytronix offers mobile and data analytics capabilities to support its transition from a card-based to a mobile-based loyalty program.