News

Consumer confidence remains high despite contentious presidential race
Not even a political slug fest can shake the current consumer. The latest Nielsen Consumer Confidence Index showed that consumer confidence in the U.S. is on the rise, despite the uncertainty and starkly contrasting rhetoric around key economic issues. Per the Index, Americans remained optimistic in the second quarter with a three-point confidence increase to 113. In contrast, the global consumer confidence index for the same period was flat at 98. Other U.S. highlights include:
Lifeway Christian Stores moves to improve operational efficiencies
Lifeway Christian Stores is upgrading its supply chain management with an eye to reducing inventory and increasing availability. Reflex Solutions, in collaboration with Columbus Consulting International, is deploying its supply chain software to improve the retailer’s inventory forecasting, replenishment and allocation processes.

Hhgregg seals its CEO deal

Hhgregg has completed its search for a permanent CEO by giving interim chief Robert Riesbeck the long-term nod. Riesbeck has held the interim title since February, when then-CEO Dennis May tendered his resignation. Now, with the top position becoming permanent, Riesbeck will give up his CFO title and the company will launch a new search for a replacement.
Analysis: What Dollar Shave Club’s Sale Means For Retail

News of Dollar Shave Club’s recent $1 billion sale to global packaged-goods giant Unilever came like a splash of cold water to the face of most in the retail business. But it shouldn’t have come as a surprise. The booming success of subscription services is just the next step in the evolution towards seamless, contactless retail that emphasizes ease, convenience, common sense and just a touch of personality and cheeky humor.
Target to open in hipster neighborhood in Manhattan

Target Corp. continues to expand its presence in New York City.
Report: Retail construction declines in June, but first half up year-over-year

Construction spending in the retail sector saw a dip in June, according to a report by the Associated General Contractors of America, but the first half of the year recorded an overall gain. Commercial (which includes retail, warehouse and farm) construction declined 1.6% in June, per the report, but climbed 8.6% year-to-date. Association officials said spending appears to have leveled off after a strong early start to the year prompted by mild winter weather conditions in many parts of the country.
Dunkin’ runs on DoorDash

Americans – in particular, some New Yorkers – can continue to run on Dunkin’, as the donut purveyor forged a partnership to offer delivery to select areas of Brooklyn and Manhattan. Dunkin' Delivery will be offered through on-demand delivery service DoorDash, which through the DoorDash app or website will allow customers to order with a tap or click from home or work. Delivery time is 45 minutes or less.
Saddle Brook Square reaches 100% occupancy

With the addition of Jembro Stores and Cricket Wireless, Saddle Brook Square – in Saddle Brook, New Jersey – has reached full occupancy, according to brokerage firm Ripco Real Estate, which has led the leasing efforts. The 221,892-sq.-ft. shopping center is anchored by Walmart, TJ Maxx, Modell’s, and 24 Hour Fitness. Jembro Stores, a regional discount retailer, will occupy 5,280 sq. ft. adjacent to TJ Maxx. Cricket Wireless occupies 2,100 sq. ft.
Pizza chain continues to rev growth

One of the earliest adopters of the build-your-own pizza concept has notched North Louisiana in its expansion belt. PizzaRev, the fast-casual pizza banner backed by Buffalo Wild Wings, announced that a franchise agreement has been signed to develop the chain throughout the northern part of Louisiana. Franchisees are lrestaurateurs Cassidy King and Mark Florsheim.
Destination Maternity taps seasoned CFO to lead financial charge

In its search to find the right financial overseer, Destination Maternity Corp. didn’t have to look any farther than the auto parts industry. On Monday, the maternity apparel retailer named David Stern, former CFO of Pep Boys – Manny, Moe and Jack, as executive VP and CFO, charged with leading the finance and accounting, real estate, loss prevention and procurement areas of the company. Stern will report to CEO Anthony Romano.