Restaurant

Brands just can’t escape a challenging retail environment — a main reason Starbucks is pulling the plug on its Teavana operation.   Just hours after the coffee giant announced it would buy out the remaining 50% share of its East China business from its joint venture partners for about $1.3 billion — its biggest acquisition, ever — Starbucks is cutting loose its Teavana division.  

J.C. Penney has a new finance chief.   The department store retailer named Jeffrey Davis as executive VP and CFO. Davis will report to Marvin R. Ellison, Penney’s chairman and chief executive officer.   

Bourn Companies has broken ground at a retail center on Tucson’s south side that could eventually add 600,000-sq.-ft. of retail space to the city.   About 220,000-sq.-ft. of that space is taking shape and expected to be completed by the end of the year at Fashion Park Shopping Center, located on Irvington Road at the intersection of Interstate 19. Complete build-out is expected by 2020.  

Wages

USDOL Tip Pooling Rule: The Labor Department will propose rescinding its regulations for tip pooling. The Obama administration issued rules that prohibited employers from redistributing tips to non-tipped employees, such as "back of the house" workers. Business groups oppose the rule and an association-backed lawsuit is still pending in the courts.

Subway is more accurately planning new locations.   The fast-causal restaurant chain is partnering with location intelligence provider SiteZues, to augment its development strategy. The company’s data-driven solution will combine advanced geospatial technology and visualization with Subway’s market data. The result will be more thorough and accurate insights — the foundation Subway needs to plan and expand its market growth.   

The largest restaurant chain in the world has unveiled a tech-savvy, makeover that seeks to reinvent its customer experience for a digital age.  

Dining and entertainment square footage continues to replace that of department stores in PREIT’s mall portfolio.   Last week the Philadelphia-based developer announced that it had signed leases to fill vacated Sears space at two of its properties. Five Below and an unnamed off-price furniture retailer will join Burlington in the former Sears at the Magnolia Mall in Florence, South Carolina.   

An industry veteran has been tapped to lead operations at of the nation's fastest-growing fast-casual restaurant companies.    Mod Super Fast Pizza Holdings has appointed  Paul Twohig to the new role of COO,  effective immediately. The appointment comes as the company continues its rapid expansion in the United States and abroad. With Twohig’s arrival, Chris Schultz, former senior VP of operations, will take on the new role of senior VP, international to lead Mod’s development abroad.