Discount Store

Two online brands and an iconic American designer top a list of retail brands that command the most loyalty among consumers.   Amazon, Zappos and Ralph Lauren were the top loyalty leaders in the retail segment in the 20th annual  Brand Keys Loyalty Leaders List.  The ranking, which is 100% consumer-driven, examined 72 categories and 635 brands. Rounding out the top five in retail: Sephora and Trader Joe’s.     

Black Friday may have lost some of its allure in recent years, but it still comes out on top in a ranking of the busiest shopping days.    Black Friday, which falls on November 25 this year, took the No. 1 spot in a ranking of the anticipated 10 busiest shopping days of 2016 by ShopperTrak, a Tyco Retail Solutions business unit. The second and third busiest shopping days are expected to be Monday, Dec. 26 and Friday, Dec. 23. (See end of article for the complete list.  

Supervalu Inc. posted disappointing sales results for its second quarter as the company continues to shift its business toward wholesale distribution.       The company released its second quarter results just days after it entered into an agreement to sell its Save-A-Lot discount grocery chain to Canadian private equity firm Onex for $1.37 billion in cash.   

Target Corp. has knocked Walmart off its perennial top spot in an annual ranking of the U.S. companies with the most solar energy capacity.      Target now has 147.5 megawatts (MW) of installed solar capacity, according to the Solar Energy Industries Association’s 2016 Solar Means Business report, which ranks companies based on capacity current through the third quarter of this year.     

Lidl, the German no-frills grocery chain, is shaping up as a potential retail powerhouse even before it opens its first U.S. store.   The company will generate $8.8 billion in sales by 2023, larger than Wegman’s 2016 value of $8.1 billion, according to a just-released forecast by Kantar Retail.  

As the loyalty landscape heats up, TJX Companies is renewing its existing program to remain competitive.   The off-price retailer announced a multi-year renewal of its partnership with Synchrony, a move that will continue to support financing for its five-year-old Rewards Credit Card program.   

Supervalu has found a buyer for its discount grocery business, Save-A-Lot.   Supervalu agreed to sell Save-A-Lot to Onex Corporation, a Toronto-based private equity firm, for $1.365 billion in cash. As part of the agreement, Supervalu will provide professional services to Save-A-Lot for five years.     The sale is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.    

Southfield, Michigan-based Versa Development has purchased Cascade Crossing in Sault Ste. Marie for $11.5 million.    Mid-America Real Estate Corp. handled the sale on behalf of the seller, DDR Corp.   Situated at the junction of Interstate 75 and 3 Mile Road in the Canadian border town, the 276,361-sq.-ft. center is anchored by Kohl’s, J.C. Penney, TJ Maxx, and Jo-Ann Fabrics.