News

A store transformed — that’s how Target refers to its Baton Rouge East (Louisiana) store which has re-opened its doors after sustaining massive damage from the floods that devastated the area in August.  

Sears Holdings Corp.’ woes mounted in the third quarter, as the struggling retailer reported its 20th consecutive quarterly loss and another drop in same-store sales.        Although Sears CEO Eddie Lampert said Sears is “fully committed to restoring profitability,” the retailer’s disastrous quarterly performance caused some industry experts to say Sears’ demise is now a matter of when, not if.  

Dunkin’ Donuts is expanding its footprint in Texas.    The chain signed multi-unit store development agreements with four existing franchise groups to develop approximately 65 new restaurants in Dallas-Fort Worth and the surrounding area.     The new restaurants will include several multi-brand locations with sister brand Baskin-Robbins, the world's largest chain of ice cream specialty shops.     

President-elect Donald Trump will name Andy Puzder, CEO of CKE Restaurants, as labor secretary, according to several media reports.   Puzder, whose company operates the Carl’s Jr. and Hardee’s burger retail chains, has argued against raising the minimum wage to more than $9 per hour. He also has been an advocate of cutting back or eliminating regulations he claims have been a detriment to the restaurant industry and has been critical of the Affordable Care Act.  

Todd Sprinkle has been appointed CIO at QVC.   Sprinkle, who served as the company’s VP, IT strategy, planning and effectiveness, will now oversee QVC's global IT organization spanning the U.S., U.K., Germany, Japan, Italy, France and China, and at QVC's global business service operation in Poland.     Under his leadership, QVC’s IT team will continue delivering a seamless and engaging multi-platform experience for customers and team members, globally.   

Consumers’ demand for stylish workout wear no shows on slowing down.        Lululemon Athletica Inc.’s sales rose 13% to $544.4 million, surpassing Wall Street estimates.   Total comparable sales, which includes comparable store sales and direct to consumer, increased by 7%. Same-store sales rose 4%.      Profit in the quarter was 47 cents a share, excluding some items. Analysts estimated 43 cents on average.    

Starbucks Corp. unveiled an ambitious five-year strategy that calls for major expansion, includes two new store formats, including freestanding bakeries.      The coffee giant said it plans to plans to open approximately 12,000 new stores globally by 2021, including 5,000 cafes in China. The new round of expansion would bring Starbucks’s total store portfolio to approximately 37,000 locations.   

The ongoing saga of American Apparel is slowly making its way to a final conclusion.    The beleaguered retailer is seeking court approval to shutter nine poor-performing stores by the end of  December, prior to the auction of its business on Jan. 9, reported The Wall Street Journal, American Apparel filed Chapter 11 in November, its second filing in 15 months.