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:
Survey: Apparel driving consumer spending across channels
No big surprise that apparel continues to be the most popular retail category across all channels, but what is noteworthy is that clothing purchases show no sign of slowing, particularly online. A survey by Onestop Internet revealed that the apparel category is driving online growth, with 45% of respondents saying they plan to buy more clothing online than any other retail category in the next 12 months.

Cold Stone Creamery debuts Lebanese presence in Beirut

Ice cream lovers in Lebanon will soon have a new confectionary option, as Cold Stone Creamery has announced plans to open multiple locations throughout the country over the next few years, beginning with the capital city of Beirut. Kahala Brands, the parent company of Cold Stone Creamery, has granted MNM Investments Lebanon SAL, part of M1 Group, the master franchise rights to Lebanon under a 10-year master franchise agreement.
Petco to unveil four new stores this month

August is a busy month for Petco, as the pet specialty retailer will celebrate the grand opening and re-opening of four stores, including one new location, one remodeled store and two store relocations.
Children’s lifestyle brand acquired with plans to expand retail footprint

A premium children’s brand is planning a growth spurt. Private equity firm L Catterton has acquired Hanna Andersson for an undisclosed sum, with the intent of expanding the Swedish children’s apparel retailer across its channels. Hanna Andersson currently operates a robust e-commerce and catalog business in addition to 55 retail stores and 11 outlet locations.
Wendy’s shines light on customer experience

Joining the ranks of progressive burger chains that are jumping on the experience bandwagon, Wendy’s has engaged Service Management Group to measure the customer experience in all of its North America and international restaurants.
GameStop adds 507 stores with acquisition

GameStop Corp. has acquired three AT&T mobility banners, which will add 507 wireless units to its global base of stores. The purchase price wasn’t disclosed.
Survey: Back-to-school shopping will be done in physical stores

When it comes to back-to-school shopping, kids have all the power – and they strongly prefer shopping in-store. A recent study by Citi Retail Services revealed that kids wield extraordinary power over back-to-school purchase decisions, and those decisions include shopping for goods in physical stores.
Report: Retailers re-focus on investing in physical stores
Bass Pro Shops raises the walls at ONE DAYTONA

In its race to open by early 2017, Bass Pro Shops has launched vertical construction on its 67,000-sq.-ft. outpost at ONE DAYTONA, the retail, dining and entertainment extravaganza underway across from the Daytona International Speedway. Bass Pro Shops’ general contractor EMJ Construction utilized a 200-ton track crane to raise 30 panels that represent the walls of the structure.
CVS Health adjusted earnings for Q2 exceed analyst estimates

CVS Health on Tuesday reported an increase of 17.6% in net revenues for the three months ended June 30, 2016, to $43.7 billion.
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.