News

DOWNERS GROVE, Ill. — A Grocery Manufacturers Association executive is taking on a new role at Hillshire Brands.

Dennis Belcastro has been named VP government and industry affairs for Hillshire Brands and will be responsible for developing and implementing the company's engagement strategy with federal, state and local elected officials, regulatory agencies and key policy-makers, in addition to managing strategic customer and industry events. Belcastro officially steps into his new role on July 30.

By Dr. Gary Edwards, Empathica

Recently, online fashion retailer Piperlime announced plans to open its first brick-and-mortar location in New York City. For many, the announcement seemed to fly in the face of conventional wisdom given the competitive pricing and other advantages e-commerce providers have over traditional retailers.

Why would a successful e-tailer like Piperlime want to take on the additional cost and headaches associated with a physical store?

New York -- Fifth & Pacific Cos., formerly known as Liz Claiborne, said that its Kate Spade LLC brand is buying out the interest of its partner in a joint venture based in Japan, the Associated Press reported.

Kate Spade will have full ownership of Kate Spade Japan Co. after it buys Sanei International Co.'s 51%  stake in the business. Fifth & Pacific said the deal is expected to cost $45 million to $50 million, including debt repayment and transaction fees.

AMSTERDAM — A division of Ahold USA has completed its acquisition of stores in the greater Philadelphia area.

Giant-Carlisle officially closed its acquisition of 15 Genuardi's stores, a subsidiary of Safeway. The deal was previously announced in January and was approved by the Federal Trade Commission last month.

As previously reported, during the conversion process, five stores at a time will temporarily close for about a week. The three-phase staggered approach is expected to be completed on July 22.

London -- Hong Kong is the world’s most expensive retail destination, with retail rents at $3,864 per square foot, according to the quarterly rankings of global retail rents from global property advisor CBRE Group. CBRE cited the city’s significant inbound tourist traffic and continued increases in domestic wealth as fueling demand from international fashion and luxury retailers.
 

Orlando, Fla. -- Darden Restaurants announced that it has agreed to acquire Yard House USA, Inc. for $585 million in an all-cash transaction from private equity firm TSG Consumer Partners LLC. Yard House operates 39 restaurants in 13 states.

The brand will become part of Darden's Specialty Restaurant Group, which includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V's.

Retailers can’t seem to get enough of partnerships these days…be it with hot designers, each other or television shows. Below is a quick recap of three new couplings that have the industry buzzing.

1. Nordstrom and Topshop: Looking to add more fashion sizzle to its offerings, Nordstrom has entered into a joint venture with Topshop, the British fast-fashion giant known for its runway-inspired threads and rock ‘n’ roll attitude.

NEW YORK — It seems that traditional grocery stores and established food brands may lose their position in the market due to a confluence of changing demographics, economic factors and customer preferences, according to new research from global investment bank Jefferies and global business advisory firm AlixPartners.