Supply Chain & Merchandising

The newest batch of start-ups are making their way to Minneapolis for the second annual Target + Techstars retail accelerator program.   After receiving applications from more than 3,000 technology start-ups — 70% of which had a co-founder who is either female or comes from an ethnically diverse background — Target whittled the list down to 10 finalists for this year’s tech accelerator. Companies range from online advertising to rebates to clothing alterations, and hail from Minneapolis to as far as Belgium.

Pizza Hut is making big moves to improve the accuracy and reliability of its delivery experience.   The subsidiary of Yum! Brands plans to hire nearly 3,000 new drivers a month through the end of the year. The hiring effort, which will include full and part-time positions, will add approximately 14,000 new drivers across its delivery fleet, according to the company.   

Walmart is bringing 1,500 jobs to Florida as it continues to expand its e-commerce fulfillment network.  

Alibaba Group Holding Ltd. has stepped up its efforts to combine physical retail with online in the supermarket space.   

Amazon has found a way to further expand its foothold in the grocery industry.   The online giant has submitted a trademark application that will enable it to enter the meal kits business. The move will directly rival meal kit provider Blue Apron, according to CNBC.  

Over the next three years, outdoor lifestyle apparel retailer Toad&Co. plans to open 20 new brick and mortar stores.    With news of store closings by powerhouse brands likely swirling around in your head, you may be tempted to make sure you read that number correctly. It’s been dizzying for sure. So why would an apparel retailer be looking to expand its brick and mortar footprint in this environment?    

Beleagured Sears Holdings is borrowing yet more money from CEO Eddie Lampert's hedge fund.    Lampert's hedge fund, ESL Investments, has agreed to give the company a new line of credit, valued at $200 million. On July 13, Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a fixed interest rate of 9.75% per year, Sears said.  

Chain Store Age’s “Fastest-Growing Acquirer” for 2016 continues to be hard at it in 2017.   Phillips Edison has purchased Sierra Del Oro Towne Center in Corona, California, about midway between Los Angeles and Palm Springs, for $28.6 million, it was announced this week.