News Briefs

Real estate firm Cullinan Properties has added to its leadership team with a new hire.

Kristy Johns will join the company as VP, director of marketing, and will work at the firm’s East Peoria, Ill. office. Johns has over 15 years of marketing and leadership experience, and served as VP of marketing for Illinois Manufacturing Excellence Center for more than five years, where she was responsible for the implementation and execution of state-wide strategic marketing plans.

“We are excited to have Kristy join us. Her vast experience in all levels of marketing and communications are essential in moving our company forward,” said Michael Gold, president, Cullinan Properties. “Her leadership experience and track record of developing and implementing successful marketing strategies makes her a welcome addition to the Cullinan team. Kristy’s strength lies in her ability to plan and execute plans that will continue to grow Cullinan Properties and all its current and future developments.”

With offices in Peoria and Burr Ridge, Ill. and St. Louis, Mo., Cullinan Properties develops, manages, and owns mixed-use, retail, multi-family, office, governmental, and medical properties throughout the United States.

Target Corp. is doubling down on its private label intimates and sleepwear brand. 

The discounter is relaunching its Auden brand, with the refresh including more than 100 new sleepwear items in addition to brand staples such as bras and bralettes, underwear and bodysuits. It also is introducing an expanded line of elevated intimates, called the Auden Luxury Collection, crafted with innovative fabrics.

The refreshed Auden brand will be unveiled in stores and online starting Sunday, July 7. All items are $40 or less.

Target noted that most of its Auden products are independently tested and certified to be free from over 350 harmful chemicals in accordance with Oeko-Tex standards.

“After speaking with thousands of women, we saw an opportunity to provide a wider range of quality, on-trend intimates and sleepwear products at affordable price points for life’s many moments,” says Jill Sando, Target’s executive VP and chief merchandising officer of apparel and accessories, home and hardlines. “With the new Auden, we’re delivering just that with more than 600 items all under $40 in one cohesive brand – making it even easier for consumers to shop.”

The Auden refresh comes as Target continues to emphasize its exclusive brands.

Earlier this year, the company introduced a new private brand, “Dealworthy,” targeting budget-minded consumers. It features nearly 400 "everyday" products across four categories: apparel and accessories, essentials and beauty, electronics and home items. Prices start at less than $1, with most items under $10.

A  U.S. bankruptcy judge has approved Rite Aid Corp.’s restructuring plan, setting the stage for the pharmacy retailer to stay afloat and emerge from bankruptcy.

Under the plan, which was approved by U.S. Bankruptcy Judge Michael Kaplan at a court hearing in Trenton, N.J, Rite Aid will cut its debt by about $2 billion and turn over control to its key creditors.  The judge said the restructuring had saved the company from having to shut down and liquidate operations, reported Reuters. Rite Aid plans to exit from bankruptcy in about a month, funded by $2.55 billion in financing provided by its lenders, according to the report

Rite Aid filed for bankruptcy in October, listing estimated assets and liabilities in the range of $1 billion to $10 billion in its court filing. Since the filing, the company has closed hundreds of stores. (As of Feb. 29, Rite Aid operated 1,704 stores across the United States, according to its website.) It is expected to emerge from bankruptcy with about 1,300 locations. 

In January, Rite Aid won court approval to sell its pharmacy benefit manager business Elixir Solutions for $575 million. In March, the company  entered into an asset purchase agreement for the partial sale of its Health Dialog business to Carenet Health, a provider of healthcare engagement, clinical support, telehealth and advocacy solutions, as it continues to sharpen its focus on its retail pharmacy business. 

Rite Aid's restructuring will provide $47.5 million to junior creditors, including individuals and local governments that have sued the company allegedly contributing to the deadly U.S. opioid epidemic. Before it filed for bankruptcy, Rite Aid faced 1,600 opioid lawsuits, including one by the Department of Justice claiming that it knowingly processed “unlawful prescriptions for controlled substances,” which stands in violation of False Claims Act and Controlled Substances Act.

The finance chief of Natural Grocers by Vitamin Cottage is retiring.

The specialty retailer of natural and organic groceries, body care products and dietary supplements said that Todd Dissinger, Chief Financial Officer plans to retire on Dec. 31, 2024. He will continue in the role until his successor is appointed to ensure a smooth transition. 

Natural Grocers said it will conduct a thorough process to identify Dissinger's successor with the assistance of an executive recruiting firm.

"Since his appointment as CFO in December 2017, Todd has been an invaluable member of our executive team, helping Natural Grocers to execute on its founding principles while achieving record financial performance and enhancing shareholder value," said Kemper Isely, chairman and co-president. "I want to thank Todd for his many contributions to our success and wish him well in retirement. We are grateful for his dedication and continuing leadership throughout this transition."

Founded in 1955, Natural Grocers has 168 stores in 21 states.

"I would like to express my gratitude to Kemper, the Isely family, our Board, and all our team members for the support and commitment they have extended during my tenure at Natural Grocers," said Dissinger. "I am fortunate to have had the opportunity to conclude my career at a company with a long legacy, and a clear and consistent mission committed to the health and well-being of its customers, communities, and employees. I'm proud to have been part of that mission and success. I am confident in Natural Grocers' bright future and look forward to doing everything I can to ensure a successful transition." 

Consumers are gearing up to celebrate Independence Day. 

Seventy-three percent of consumers plan to celebrate Fourth of July, according to Numerator data sourced from verified purchase data and a sentiment survey of over 5,500 consumers on their 2024 holiday intentions.

Nearly all celebrators plan to shop for the holiday — and food and alcohol top shopping lists. Ninety-four percent of consumers plan to make a purchase for the Fourth of July, with food items being the most popular (83% plan to purchase), followed by alcoholic beverages (48%), non-alcoholic beverages (38%), decorations (23%) and party supplies (21%).

The majority of shoppers plan to buy from grocery or big-box stores. Sixty-three percent of Independence Day shoppers plan to buy their supplies from grocery stores such as Kroger and Publix, 54% expect to buy from big-box stores such as Walmart and Costco, and 26% expect to shop at liquor stores.

Numerator found that holiday plans vary by generation and regionality. Compared to all celebrators, Gen Z is three times as likely to say they will go out for drinks (19% vs. 6%) and twice as likely to go out to eat (13% vs. 5%) or order food for takeout or delivery (10% vs. 5%). Midwestern consumers are more likely to attend a public celebration such as a parade or fireworks (39% vs. 31%), while Western consumers are more likely to travel for the holiday (16% vs. 11%).

Beer is the preferred alcoholic beverage for Independence Day. Among those who plan to purchase alcohol, beer (75% plan to buy) is the top choice, followed by spirits or spirit-based drinks (40%), wine (38%), and hard seltzers or canned cocktails (35%). Consumers in the Northeast are more likely to say they will purchase wine (51% vs. 38%), while consumers in the West are twice as likely to purchase champagne or sparkling wine (17% vs. 8%).

Best Buy Canada has debuted its first slimmed-down store format – with many more to follow.

Best Buy Canada and telecommunications company Bell Canada have launched a partnership to open 167 stores under the Best Buy Express banner across Canada, with the first location now open in Guildford Town Centre, Surrey, British Columbia.  (Under the partnership, stores operated as The Source, a unit of Bell, will be rebranded as Best Buy Express.

All stores are slated to open by the end of 2024, following  the completion of renovations. Many are located in communities that have previously not had a Best Buy. 

The Express stores feature a curated assortment of tech products. More than 100,000 products will also be available to customers even if they’re not found in store via the retailer's fulfillment network.

 Other highlights of the Best Buy Express format include;

•Quick and easy pick-up: Customers will be able to shop Best Buy’s full assortment online, from small appliances to headphones, with the convenience of picking up and returning products at these locations.

•Exclusive telecom services: Customers will be able to shop Bell, Virgin Plus and Lucky Mobile telecommunications services, all backed by knowledgeable sales and support staff.

•Geek Squad services: Best Buy Express stores will offer Geek Squad services including Geek Squad Protection and services for all consumer electronics products.

A wholly owned subsidiary of Best Buy Co. Inc., Best Buy Canada Ltd. operates the Best Buy, Best Buy Mobile and Geek Squad brands. The company has more than 160 Best Buy and Best Buy Mobile stores across Canada and an expanded assortment of products offered through the BestBuy.ca e-commerce site.

“Opening 167 stores in five months may be a North American first. It’s certainly bold in retail today," said Ron Wilson, president, Best Buy Canada. "We’re excited to see these new stores come to life as we double our store count, expanding our presence across Canada. We’re proud to be able to offer our ultimate shopping convenience to new and existing customers.”