News Briefs

Ross Stores is delivering on its 2023 expansion plans.

The off-price apparel and home goods retailer recently opened 18 Ross Dress for Less stores and nine DD's Discounts stores across 14 states in June and July. The new locations are part of the company's plans to add approximately 100 new locations during fiscal 2023, including 75 Ross stores and 25 DD’s Discount outlets.

This summer, Ross Dress for Less opened its inaugural six stores in the state of Michigan. DD’s expanded its presence in Arizona, California, Florida, Georgia, Oklahoma and Pennsylvania.

"These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets," said Gregg McGillis, group executive VP, property development. “Looking ahead, we remain confident in our ability to grow to at least 2,900 Ross Dress for Less and 700 DD’s Discounts locations over time."

Together, Ross Dress for Less and DD’s Discounts currently operate a total of 2,061 locations in 41 states, the District of Columbia, and Guam. The total includes 1,722 Ross locations in 41 states and 336 DD’s stores in 22 states. The company posted fiscal 2022 revenues of $18.7 billion.

Consumer sentiment in July reached its highest level in nearly two years even as inflation expectations inched up.

The University of Michigan’s index of consumer sentiment  rose for the second straight month, increasing 13% over June to a preliminary July reading of 72.6.  It was the highest level since September 2021.

All components of the index improved significantly in July. Consumers’ view of current economic conditions rose to 77.5, up from 69.0 in June.  The expectations index rose to 69.4, up from 61.5 in June. 

“Overall, sentiment climbed for all demographic groups except for lower-income consumers,” said Joanne Hsu, surveys of consumers director, University of Michigan. “The sharp rise in sentiment was largely attributable to the continued slowdown in inflation along with stability in labor markets.”

Year-ahead inflation expectations were little changed, inching up from 3.3% in June to 3.4% in July and down from the high point of 5.4% from April 2022. 

 Long-run inflation expectations were also virtually unchanged from June at 3.1%, again staying within the narrow 2.9-3.1% range for 23 of the last 24 months.

 

A century-old brand has made its U.S. brick-and-mortar debut.

Etam has set up shop at Simon’s Dadeland Mall in Miami. The 3,100-sq-ft. store has a modern look, with nude tones, blonde woods, waxed concrete walls with electric neon touches and brushed brass furnishings. The design strikes a balance between the feminine and urban universes. 

Product benefit and brand messages are inlaid on every wall, along with and customer reviews to guide customers in their selection choice and better understand the brand.    

“Etam is a global brand that we believe has a strong brick-and-mortar future in the U.S. said Zach Beloff, VP of leasing at Simon, in an April release. “We hope to see them expand throughout our portfolio."

Founded in 1916, the storied — and affordable — French is known for its stretch lace, mix-and-match lingerie sets. It also offers swimwear, sleepwear and loungewear. With more than 850 stores throughout Europe, Middle East, Latin America and Asia, the company is aiming to open two more U.S. stores by the end of the year, reported Women’s Wear Daily.

Etam first entered the U.S. market in 2022, starting with an online presence and making its products available in select Nordstrom locations and on the retailer’s web site.  

In 2020, Etam unveiled its sustainability program WeCare and announced its participation in The Fashion Pact, a global environmental coalition of leading fashion and textile brands. 

Etam opened its first Paris boutique in 1928 on Rue-Saint Honoré.

 

 

The Canadian value retailer, whose merchandise is priced at $5 or less,  said that J.P. Towner, CFO, will step down from his position in the coming months to pursue another career opportunity. He will remain in his role to ensure a smooth transition, including through the announcement and filing of Dollarama’s second quarter results for its current fiscal year. 

The company has begun a formal search process for a new CFO.

"On behalf of the board of directors and the executive team, I would like to thank J.P. for his contribution to Dollarama," said Neil Rossy, president and CEO of Dollarama. "It was a pleasure working with J.P. and we wish him the very best in his next chapter."

Dollarama operates 1,507 locations across Canada, with stores  offering a broad assortment of consumable products, general merchandise and seasonal at fixed price points up to $5.00.

 The company also owns a 50.1% interest in Dollarcity, a growing Latin American value retailer. Dollarcity, which offers  consumable products, general merchandise and seasonal items at  fixed price points up to US$4.00 (or the equivalent in local currency) operaates 448 located stores in El Salvador, Guatemala, Colombia and Peru.

 

Starbucks Workers United is taking its cause on the road.

The union is launching a four-week, 13-city bus tour to raise public awareness and educate consumers about its demands. The union represents store employees and shift supervisors at about 320 of Starbucks' roughly 9,000 corporate-owned U.S. locations. 

“Union partners from all over the country are going on a nationwide bus tour to let Starbucks know it's time for a contract,!” the union said in a tweet.

The bus tour will make stops in 13 cities, starting with in Minneapolis-St Paul, Minn. Other cities on the tour include Atlanta, Los Angeles, San Francisco, Buffalo, Seattle and more. The protesting employees will give out flyers with QR codes on them that link to a sign-up page where consumers can pledge “to support Starbucks workers in their fight for a union and a fair contract” and receive alerts about rallies, pickets and other events in their area.

The workers will be traveling in two buses sporting "The Union is Calling" wraps, reported tastingtable.com

"Each stop will include organizing events, worker-led actions, press events, and various activities to call on members of Starbucks' Board of Directors to uphold Starbucks values and respect workers' rights,” according to a release cited in the report.

Bed Bath & Beyond has ended its efforts to find a buyer for its entire BuyBuy Baby chain — a move that would have potentially kept at least some of its stores open.

Instead, the bankrupt retailer will seek bankruptcy court approval for a more limited sale of the brand’s intellectual property assets to Dream on Me, a New Jersey-based company that makes and sells baby goods. On June 29, Bed Bath & Beyond selected Dream on Me as the lead bidder for BuyBuy Baby’s IP, but it continued to seek out buyers who would buy the entire business as a going concern and keep its stores running, with an auction scheduled for July 7. 

But no higher bidder emerged and the chain canceled the auction. (Dream on Me’s $15.5 billion bid is for BuyBuy’s trademark and IP only.) 

On June 28, a U.S. bankruptcy court judge approved Overstock.com's$21.5 million bid some assets of Bed Bath & Beyond, including its name, intellectual property and online assets.