News

Inland sells Mariano’s location in Chicagoland
Inland Private Capital Corp. announced the sale of a Mariano’s Fresh Market in Vernon Hills, Illinois, on behalf of one of its 1,000-plus investment programs. Sale price for the seven-acre property and 71,248-sq.-ft. store was $36.4 million. Mariano’s, a Kroger banner, is Chicagoland’s up-and-coming fresh grocer with some 35 locations in the area. Roundy’s had owned the chain and held the lease at the Vernon Hills location until it was acquired by Kroger last November.
Amazon now serving up Houston meal deliveries
Amazon continues its expansion into the restaurant delivery arena. Further expanding benefits to its Prime Now members, Amazon launched free one-hour deliveries from popular chain restaurants in the Houston region. Houston-based members using the Prime Now mobile app, or those visiting the Prime Now website, can view participating restaurants, browse menus, place orders, and track the status of their delivery in real-time.

Commentary: Chipotle class-action suit should be wake-call for retailers, restaurants

This week, 10,000 current and former Chipotle employees filed a class-action lawsuit claiming back wages, working off the clock and various labor violations. The suit should finally be the wake-up call necessary to get c-suite executives at restaurant, retail, hotel & lodging, convenience stores and other labor-intensive industries to take the issue seriously because the Chipotle case may be the tip of the iceberg.
Aeropostale: Not dead yet

Aeropostale may still live to see another day thanks to a last-minute bid. In a development that no one saw coming, a consortium of landlords, liquidators and others joined together to make a $243.3 million offer to save 229 Aeropostale stores, Fortune reported. The group includes General Group Properties, Simon Property Group, Gordon Brothers Retail Partners, Hilco Merchant Resources, and Authentic Brands Group.
Chico’s Q2 tops Street; cuts 200 jobs in corporate streamlining

Chico’s FAS reported better-than-expected second quarter earnings and announced new cost-saving measures. It also said the president of its namesake brand is stepping down.
As if Chipotle didn’t have enough to worry about…

Quick-serve restaurant chain Chipotle has been hit with a lawsuit in which current and former Chipotle employees claim that the company made them work extra hours "off the clock" without paying them, CNN Money reported.
David’s Bridal CEO steps down; replaced by former Gap head

Photo: Paul Pressler The CEO of David's Bridal is out after three years on the job. The specialty retailer said Pam Wallack has left the company, but gave no reason for her departure, the Associated Press reported. Wallack will be replaced by David’s Bridal chairman and former Gap Inc. head Paul Pressler, who once worked with her at Gap.
Wendy’s honored for energy efficiency

The U.S. Department of Energy recognized The Wendy's Company, and one of its franchisees, Wendco Group, for its energy-saving efforts. Wendy’s Company and Wendco Group, which operates 43 Wendy's restaurants in Alabama and Florida, are participants in the DOE’s Better Buildings Challenge. The program aims to make commercial, public, industrial and residential buildings 20% more energy efficient over the next decade.
Branch buys its first Alabama centers

Branch Properties, which owns 24 retail centers and restaurant parks in the Southeast, made its first foray into Alabama with the purchase of two Birmingham properties from Bayer and a silent partner. The Atlanta-based Branch gets Inverness Corners, a 236,444-sq.-ft. center anchored by Winn-Dixie and Kohl’s, and Inverness Plaza a 74,818-sq.-ft property that houses Alabama’s only PGA Super Store. The deal was brokered by JLL.
Fred’s names retail veteran as CEO

Photo: Michael K. Bloom Fred’s announced it has promoted COO Michael K. Bloom to chief executive, effective Aug. 29. Bloom succeeds CEO Jerry A. Shore, who became chief executive in October 2014 and intends to retire in February.