News

Camping World Holdings has given an update on its plans for Gander Mountain.   Camping World, which acquired the assets of Gander Mountain and boating division Overton's in a bankruptcy auction in May, said it plans to operate 57 locations — assuming details can be worked out with landlords and final acceptable leases agreed to. Liquidation sales started in May at all 160 Gander stores.   

With home remodeling and housing starts on the rise, The Tile Shop is in a sweet spot. The specialty retailer of manufactured and nature stone tiles, which reported a 8.8% increase in net sales and a 4.9% increase in same-store sales for its first quarter, displays its collections in a showroom-like environment that includes full-room tiled displays and a design studio where customers can utilize 3D renderings to visualize their design ideas.   

Walgreens Boots Alliance has announced a new Rite Aid deal, effectively ending its nearly two-year quest to acquire the Camp Hill, Pa.-based drug store chain. The divestiture agreement with Fred's Pharmacy, whereby Fred's would buy 865 stores, is also terminated.  

The news that Walgreens is to scrap its $9.4 billion merger with Rite Aid is unsurprising. The glacial pace of the Federal Trade Commission investigation and increasing signals that the federal government would disallow the merger have forced a rethink.  

To be competitive, retailers must have a strong digital marketing strategy to be seen and heard, attract new customers, and build stronger relationships with existing ones. Spending on digital advertising is on the rise. In 2017, U.S. digital advertising is on pace to surpass expenditures on TV ads. Globally, more than 40% of media advertising budgets in certain markets are devoted to digital marketing, according to media company Magna.  

Alimentation Couche-Tard has closed on the biggest transaction in its history.    The Canadian company announced that it has completed its $4.4 billion acquisition of CST Brands. The deal will add approximately 1,300 stores to the Couche-Tard portfolio, including 666 locations in Texas.   

Pier I Imports reduced its loss in the first quarter amid a boost in its gross margin and other operational improvements.   Pier 1 reported its first-quarter loss narrowed to $3 million, or 4 cents a share, from $6 million, or 7 cents a share, a year earlier. Its results beat expectations.   

Plenty of consumers will be shopping for deals over Independence Day— and they plan to use social media to find them.   Forty-three percent of consumers plan to shop for deals on Independence Day, according to a survey by ChargeItSpot. When asked what resource they will use to hunt down deals and sales, the majority of respondents (37%) said social media, followed by online deal sites (17%) and mobile coupon apps (17%) – meaning in-store shoppers are finding their deals online.    

Sycamore Partners has a plan for its newest retail acquisition, Staples.   The private equity firm, which purchased the office supply giant for $6.9 billion on Wednesday, plans to divide the chain into three separately financed units: U.S. retail; Canadian retail; and corporate-supply businesses, reported The Wall Street Journal reported. The three units will all remain under the same corporate umbrella.