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99 Cents Only Stores Appoints Chief Financial Officer

by Katie Lee

Los Angeles — 99 Cents Only Stores LLC has appointed Periclis “Perry” Pericleous as chief financial officer, effective November 15, 2021. Pericleous, an accomplished retail executive, will be responsible for the company’s key finance functions, including accounting, financial reporting, financial planning and analysis, tax, treasury and investor relations. “99 Cents Only Stores is a growth company with a seasoned and dynamic executive leadership team,” says Barry Feld, chief executive officer of the company. “Perry’s deep expertise and success as a public company CFO, his financial acumen and his outstanding leadership …

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green newsNewsrestaurants

Chipotle Sets Science-Based Climate Goals to Reduce Carbon Emissions 50% by 2030

by Katie Lee

Newport Beach, Calif. — Chipotle Mexican Grill has set science-based targets with the Science Based Targets initiative (SBTi) to reduce absolute Scope 1, 2 and 3 greenhouse gas (GHG) emissions by 50% by 2030 from a 2019 base year. The approved targets have been classified by SBTi as being in line with a long term global temperature increasing trajectory of 1.5°C. “As company with nearly 3,000 restaurants and approximately 95,000 employees, we have a responsibility to drive meaningful change,” says Laurie Schalow, chief corporate affairs & food safety officer. “We …

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franchise developmentNewsretailers

Advance Auto Parts Launches Carquest by Advance Store Concept

by Katie Lee

Raleigh, N.C. — Advance Auto Parts, a leading automotive aftermarket parts retailer, has unveiled ‘Carquest by Advance’ as a new retail concept under Advance’s portfolio of brands. The store model targets the emerging automotive DIY channel and is designed specifically for independent owners who receive additional operations and merchandising DIY support from Advance. Carquest by Advance stores feature interior and exterior signage, along with a core selection of DIY automotive parts and products made available by Advance. The merchandise assortment includes DieHard® batteries, America’s most trusted auto battery, which is …

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Newspeoplerestaurantssoftware/technology

Bloomin’ Brands Names New Chief Technology Officer

by Katie Lee

Tampa, Fla. — Bloomin’ Brands, Inc. has appointed Astrid Isaacs to chief technology officer for Bloomin’ Brands. She will lead the company’s technology strategy and platforms, while overseeing the IT, digital and loyalty teams. Isaacs will also join the executive leadership team. “Astrid’s proven ability to develop and implement technology to enable growth and enhance customer service, while improving productivity, will create a great deal of value for our customers and our company,” says David Deno, chief executive officer of Bloomin’ Brands. “Digital connections, whether with our customers, our operators …

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MarineMax Expands in Texas with Acquisition of Towboat Retailer

by Katie Lee

Clearwater, Fla. — MarineMax, Inc., the world’s largest recreational boat and yacht retailer, has acquired the assets of Texas MasterCraft. Texas MasterCraft is a full-service Dallas-area towboat dealer that operates primarily from two locations. The Dallas-area market is the largest towboat market in the United States. Texas MasterCraft is recognized annually as the largest MasterCraft dealer in the world. Jimmy Harvell launched Texas MasterCraft in 2001, after several years teaching as a waterski pro and working with various other Dallas-area dealerships. The dealership benefits from a private lake it owns, …

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franchise developmentNewsrestaurants

Aloha Poke Co. Enters Georgia Market

by Katie Lee

Chicago — Aloha Poke Co., the nation’s premier fast-casual poke restaurant concept, has expanded into the Atlanta market. This venture marks the first Aloha Poke fast-casual eatery in the state of Georgia, with potential to add more throughout 2022. Aloha Poke’s Atlanta expansion signals a surge in growth for the brand and follows major growth in Texas and other states. “Aloha Poke Co. is thrilled to come to Georgia,” says Chris Birkinshaw, CEO, Aloha Poke Co. “We are happy that the people of Atlanta and surrounding communities will have access …

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Johnson Fitness and Wellness Acquires Gym Source Retail Stores

by Katie Lee

Cottage Grove, Wis. — Johnson Fitness and Wellness, the world’s largest specialty fitness retailer and the retail division of Johnson Health Tech, will acquire all Gym Source retail locations across the Northeast and Mid-Atlantic, including New York, New Jersey, Pennsylvania, Massachusetts, Virginia and Connecticut. The acquisition of Gym Source locations — which will be folded under the Johnson Fitness and Wellness brand — increases the number of Johnson Fitness and Wellness retail stores to 100 in the U.S. and 365 stores globally. Gym Source will continue to operate as a …

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franchise developmentNewsrestaurants

FAT Brands Inc. to Acquire Fazoli’s Restaurant Chain for $130 Million

by Katie Lee

Los Angeles — FAT (Fresh. Authentic. Tasty.) Brands Inc. has agreed to acquire Fazoli’s for $130 million from funds under management by Sentinel Capital Partners. This acquisition brings to FAT Brands the largest premium QSR Italian chain in the U.S., and will be funded with cash from the issuance of new notes from the company’s securitization facilities. The transaction is expected to close by mid-December 2021. The planned acquisition of Fazoli’s further speaks to FAT Brands’ recent diversification of its restaurant portfolio, making a foray into the Italian quick-service dining …

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construction and designNewspeoplevendors

IMPACT Strategies Adds Market Development Manager

by Katie Lee

Fairview Heights, Ill. — Cole Loftus joins the team at IMPACT Strategies in the newly created position of market development manager. In his new role, Loftus will continue in IMPACT’s core purpose of developing industry relationships by identifying, qualifying and developing project pursuit opportunities across the firm’s multiple markets which include Missouri, Illinois and Ohio/Northern Kentucky. “The addition of Cole to our team will help us continue to grow as a company, while still providing excellence in construction to our clients,” says Nick Walker, vice president, project development and strategy …

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Muscle Maker Signs 40-Unit International Franchise Deal

by Katie Lee

League City, Texas — Muscle Maker Inc., the parent company of Muscle Maker Grill, Pokemoto and SuperFit Foods, has inked a Master Franchise Agreement for 40 units in the Kingdom of Saudi Arabia, solidifying the company’s second multi-unit international deal. The newly signed 40-unit agreement will grow the company’s international footprint by 400%. Muscle Maker Grill previously signed a 10-unit deal in Kuwait. Muscle Makers’ current Kuwaiti international franchise partners Abrar Kadhem Almatrouk, Abdullah Kadhem Almatrouk, Yousef Kadhem Almatrouk and Essa Kadhem Almatrouk will expand the brand across Saudi Arabia …

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