News Briefs

Twin Peaks Restaurant is set to enter a new market.

The “sports lodge” concept has signed a three-unit franchise agreement to open its first locations in Connecticut. The future lodges will be located in the state’s key markets, including New Haven, Hartford, Danbury, Stamford/Bridgeport and Waterbury.

The new locations will be developed by New London Hospitality, led by business partners Deepak Verma and Kam Singh. The two entrepreneurs have a background in scaling hotel brands including, Red Roof Inn, Choice Hotels and Hilton.

“Deepak and Kam bring a powerful combination of hospitality expertise and operational discipline,” said Kim Boerema, CEO of Twin Peaks. “Their experience growing multi-unit concepts makes them ideal partners as we enter Connecticut. We are confident they will help anchor Twin Peaks as a new favorite for sports fans throughout the state.”

[READ MORE: Twin Hospitality Group names new marketing leader]

Twin Hospitality Group operates 115 Twin Peaks locations in the U.S. and Mexico, as well as more than 50 Smokey Bones restaurants across 16 states. Both chains are part of the FAT Brands portfolio of restaurants. 

“Twin Peaks delivers everything guests want in a sports bar — scratch-made food, 29-degree draft beer, and the best place to catch every game,” said Verma. “We look forward to introducing the brand’s signature lodge experience and welcoming Twin Peaks girls to Connecticut, establishing a new home base for local sports fans and food enthusiasts.”

President Donald Trump has issued an executive order that eases federal regulations on marijuana without legalizing its use and loosens CBD restrictions.

In a new executive order, President Trump has directed U.S. attorney general Pam Bondi to expedite completion of the process of rescheduling marijuana to Schedule III of the Controlled Substance Act. 

Previously, marijuana (the part of the cannabis plant containing the psychoactive ingredient THC), had been classified as a Schedule I drug with high abuse potential, no accepted medical use, and lack of accepted safety. Other drugs still classified as Schedule I include heroin, LSD, and MDMA (popularly known as ecstasy).

[READ MORE: THC users are more likely to order from these online retailers…]

Trump’s order does not legalize medical marijuana usage at the federal level but does allow for greater research that could lead to the lifting of federal restrictions. Currently, 40 U.S. states and the District of Columbia have state and local medical marijuana programs, and 24 U.S. states allow at least some recreational marijuana sale and consumption. CBD is legal to some degree in every state and the District of Columbia.

The order also directs the White House to work with Congress to research and enable access to "appropriate full-spectrum CBD products" containing cannabidiol, a cannabis-derived ingredient which does not provide the "high" effect of THC and is used in some personal healthcare and food and beverage products. 

In commentary emailed to Chain Store Age, Paula Savchenko, Esq., founding partner of Cannacore Group and PS Law Group, said rescheduling marijuana is a "pivotal moment" for the hemp industry. 

"For years, hemp operators have functioned in a fragmented and often contradictory regulatory environment," said Savchenko. "Marijuana rescheduling has the potential to bring long-needed clarity, stability, and legitimacy to the broader cannabinoid marketplace."

Sweetgreen Inc. is losing one of its longest-serving executives.

The healthy-eating fast-casual restaurant brand said that co-founder Nathaniel Ru will retire as chief brand officer, effective Jan. 1. Zipporah Allen, who joined as chief commercial officer in September, has assumed Ru’s responsibilities.  Ru, who spent 20 years building Sweetgreen, will continue to serve as a member of the board.

Ru is one of the three individuals who developed the concept while students at Georgetown University. Their goal was to create a place where healthy, sustainable food was accessible to all. 

“Since writing our first business plan in 2006 while in college, to now over 280 locations around the country, Nate has been there every step, shaping Sweetgreen into the national brand it is today. I have immense gratitude for Nate’s tireless work, support, and friendship,” said Jonathan Neman, co-founder and CEO of Sweetgreen. “I know how rare it is to build a company with a partner for this many years and he’s remained steadfast in Sweetgreen’s mission to build healthier communities by connecting people to real food.”

Sweetgreen, similar to some other fast-casual brands, is coming off a difficult year. Its third-quarter same-store sales fell 9.5% amid a 11.7% traffic decline. Its comp-sales also were down in the first two quarters.

“I feel incredibly lucky to have brought this dream to life alongside some of the brightest, hardest-working people I’ve ever known,” stated Ru. “We've partnered with hundreds of farmers across the United States to source some of the most delicious ingredients. We’ve collaborated with the world's best chefs, athletes, and musicians. We’ve helped underserved communities and classrooms gain access to healthy food.”

Holiday return rates have dramatically risen since the pre-pandemic area.

Close to one-in-five (17%) holiday purchases will be returned, and total returns for purchases made during the 2025 holiday season are expected to amount to approximately $160 billion. New analysis emailed to Chain Store Age from business-to-business resale platform B-Stock also indicates there will be a slightly higher return rate of 19% for online holiday purchases, totaling roughly $50 to $60 billion dollars. 

B-Stock data further reveals that holiday return rates have more than doubled since 2019, which was the last holiday season before the outbreak of the COVID-19 pandemic. Other findings include that the return percentage for online holiday apparel purchases is closer to 30%, and that processing a return can cost a retailer around 30% of the item’s original price, or higher for low-cost products. 

In addition, about seven-in-10 (71%) consumers say they are less likely to shop with a retailer again after a poor returns experience. B-stock also provided some holiday returns statistics based on the experience of its top retail clients:  

• The most frequently items returned post-holiday are women’s trendy apparel, toys, specialty kitchen items, and tools.
• During the typical first quarter of a new year, there is a 20-30% increase in inventory being sold across the B-Stock business-to-business resale platform.
• Approximately 60% of returned holiday merchandise is customer returns with 40% resulting from excess inventory or shelf pulls.
• The number of truckloads of returned merchandise doubles from January to March of a typical year. 

Recent Adobe Analytics data is more bullish on holiday returns. Adobe found that from Nov. 1 to Dec. 12), returns were down 2.5% compared to the comparable period in 2024. 

[READ MORE: Adobe: Holiday returns follow promising trend]

Elliott Investment Management is making its voice heard following the news that Lululemon Athletica CEO Calvin McDonald plans to step down at the end of January. 

The activist investor, which has built a stake of more than $1 billion in the struggling athleisure brand, is bringing a potential CEO candidate to the company, reported The Wall Street Journal. Elliott has been working with retail veteran Jane Nielsen as a potential candidate, according to the report. Nielsen spent nearly nine years at Ralph Lauren, joining as CFO in 2016 and adding the role COO in 2019, She left the company in April 2025.

Prior to Ralph Lauren, Nielsen was at Coach, serving as CFO from 2011 to 2016. Before, that, she spent nearly 17 years at PepsiCo. In a statement to the Journal, Nielsen said she would “welcome the chance to discuss this opportunity with the Lululemon board.”

In the release announcing McDonald’s upcoming exit, Lululemon said its board was conducting “a comprehensive search process in partnership with a leading executive search firm to identify the company’s next CEO."

[READ MORE: Lululemon founder wants board changes to help with CEO search]

Elliott Investment's stake in Lululemon was first reported by The Wall Street Journal.

Two home improvement retail giants are maintaining their leads in the category.

The Home Depot and Lowe’s captured 29% and 17% respectively of consumer spending in the home improvement category as of the third quarter of this year, according to Numerator’s Home Improvement Tracker. Amazon rose to the #2 spot in the ranking briefly in December, January and February.

Consumers told Numerator that the top reasons for purchasing from a specific retailer included a convenient location (50.1%), better prices (44%), and more product options/availability (33.4%)

Most home improvement categories have held steady in the past year, with relatively stable household penetration, buy rate, purchase frequency and spend per trip, according to Numerator. The categories with the highest household penetration are household cleaners & cleaning tools (98.8% of U.S. households purchased), lawn & garden (90.4%), painting supplies & wall treatments (66%) and hand tools (54.3%). Home improvement categories that saw the most growth in household penetration over the last 12 months were power tools (41.2%) and outdoor power equipment (39%).

[READ MORE: Home Depot gives cautious guidance for 2026; offers ‘market recovery’ outlook]

Most home improvement categories are still dominated by name brand products, while private label brands show steady share across categories. Hand tools have the largest private label share (42.9% private label, 57.1% name brand) followed by lawn and garden supplies (22.5% private label, 77.5% name brand).

Consumers that purchased home improvement items in the third quarter of 2025 told Numerator that they purchased items simply because they wanted them (31.8%) or they needed supplies for a small DIY project (19.6%).