News

Sprouts is showing Whole Foods how it's done
While Whole Foods Market and The Fresh Market struggle to eke out sales growth and profit, Sprouts Farmers Market is quietly emerging as a perennial winner in the grocery sector.

Sprouts reported its third quarter results this week, and the company's financials exceeded company guidance and even Wall Street estimates.

The grocery chain reported results for the 13-week third quarter ended Sept. 27 that included:

• Net sales of $903.1 million, an 18% increase from the same period in 2014
Tommy Bahama, Waikiki, Honolulu
Tommy Bahama brings its combination retail/restaurant concept to Honolulu, opening a 19,200-sq.-ft. flagship in the beachfront neighborhood of Waikiki.

The three-level space houses a ground-floor retail space, a second story restaurant, and a rooftop lounge complete with a patio featuring a sand floor and fire pits.

Uniquely Hawaiian details demonstrate authenticity throughout the space, which is open and airy has a traditional indoor/outdoor feeling.

Walgreens, Rite Aid deal doable with fewer than 1,000 store divestitures

The Walgreens Boots Alliance/Rite Aid deal can pass Federal Trade Commission scrutiny with as little as 170 retail store divestitures, according to a proprietary analysis conducted by Credit Suisse, but the company will more likely be required to sell off some 950 stores.
HHgregg not looking good heading into holidays

HHgregg 's CEO says the company is on track to meet key financial objectives even though it posted negative same-store sales growth and a larger loss in the second quarter.
Savings go seamless with Instacart’s new CPG solution

Now that its service has gained traction with retailers, on-demand delivery provider Instacart has created a new promotional platform for brands to connect with shoppers.
Tech Guest Viewpoint: Supply Chain – The ‘Next Big Thing’

The changes that will come to the retail supply chain are just as profound as the changes that are happening now in the selling environment.
A rough third quarter for Stein Mart

Stein Mart reported negative same-store sales growth on the same day that the company also lost its chief merchant to an off-price rival.

For the third quarter ended Oct. 31, Stein Mart comps fell 2.3%.

"Unseasonably warm weather impacted traffic and our sales during the third quarter," said Jay Stein, CEO. "We continue to have a positive outlook on our important fourth quarter holiday sales which will include incremental sales from six new stores opened through the third quarter plus four more new stores opening in November."
Meijer customers ready to gobble up bargains

Meijer is practically giving away roughly 1 million turkeys this thanksgiving to help generate store traffic and boost transaction size.

The Grand Rapids, Mich.-based operator of 223 stores said it planned to repeat a turkey promotion from last year that involved selling birds at half off as long as shoppers spend at least $20. The pricing discount applies to any size, brand or type of turkey. In the case of Meijer brand frozen turkeys, that means the price will be 52 cents a pound.
Developers partner for mixed-use center in Minnesota

Paster Properties, a developer and manager of retail projects in Minnesota, and Bader Development, a multi-family property developer and manager, have partnered to develop a six-story, 155,000-sq.-ft., mixed-use redevelopment project in Minnetonka, Minnesota.
Lowe's to pay $1M in overcharging settlement

The New York attorney general's office has reached a settlement with Lowe's to refund up to 10% of flooring installation fees paid by more than 16,000 customers.

The Associated Press reports that Lowe’s, with 64 New York stores, overcharged the customers with a deceptive sales practice that it has since agreed to halt. The retailer had offered installation of carpeting, tile, wood and laminate flooring by third-party contractors at square-foot rates that were applied to materials bought, not those actually installed.