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HBC and Insight Partners Launch Saks as a Standalone E-Commerce Company

by Katie Lee

New York City — HBC and leading growth capital investor Insight Partners have entered into a partnership that establishes Saks Fifth Avenue’s e-commerce business as a standalone entity, which will be known as Saks. Insight Partners has made a $500 million minority equity investment in Saks, valuing the business at $2 billion. The retailer’s 40-store fleet will operate separately as an entity referred to as SFA, which remains wholly owned by HBC. As separate but related sister companies, Saks and SFA will be better able to appropriately plan for and …

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Alamo Drafthouse Cinema Files for Chapter 11 Bankruptcy, Enters into Asset Purchase Agreement

by Katie Lee

Austin, Texas — Alamo Drafthouse Cinema has filed for Chapter 11 bankruptcy protection and entered into an asset purchase agreement with its group of senior lenders that is led by California-based Altamont Capital Partners and Fortress Investment Group. The agreement involves the sale of “substantially all” of the company’s assets, though it remains unclear how many of its 41 theaters Alamo Drafthouse plans to close. As part of its filing, Alamo Drafthouse has asked the U.S. Bankruptcy Court for the District of Delaware to approve a 75-day timeline for restructuring its …

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Macy’s Makes Changes to Senior Leadership Team

by Katie Lee

New York City — Macy’s, Inc. plans some changes to its senior leadership team. Aligned with the company’s recently updated Polaris growth strategy, these changes to increase agility and efficiencies include: John Harper, chief operations officer, will depart on August 1, 2021. Subsequently, the role of chief operations officer will be eliminated. With the elimination of the COO role, Marc Mastronardi, chief stores officer, and Dennis Mullahy, chief supply chain officer, will report to Jeff Gennette, chairman and chief executive officer. Laura Miller has been appointed chief information officer, effective …

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Edible Opens Its First Ghost Kitchen, Optimizing Delivery Efforts

by Katie Lee

Atlanta — Edible®, the world’s most beloved leading gifts and treats destination, opened its first ghost kitchen on February 6. Located in Tucker, Ga., the 1,700-square-foot facility serves as a delivery-only location while also providing shipping in its geographic area. Additionally, it serves as a backup for surrounding stores during the busiest times of the year, and several virtual brands will be tested there as well. The ghost kitchen’s first week open brought in more than $130,000 in sales. Given the prosperous debut of the first ghost kitchen, more locations …

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Charming Charlie Continues to Expand Nationwide with 14 New Locations

by Katie Lee

Houston — Women’s apparel and fashion accessories retailer Charming Charlie continues its coast-to-coast expansion with new stores. The retailer will open approximately 14 new locations in the coming months, with a focus on Texas, California, New York and the Midwest. The stores will include Charming Charlie’s usual, color-grouping model and vast catalog of apparel, handbags, fashion jewelry, gifts, beauty, shoes, scarves, tech, travel, pets, kids and RSVP, and special occasion. Charming Charlie plans to roll out additional retail locations nationwide during the summer and fall 2021, respectively. “We’re incredibly pleased …

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Watterson Celebrates 20th Anniversary in 2021

by Katie Lee

Schaumburg, Ill. — This year, Watterson is celebrating its 20th anniversary. For 20 years, the Schaumburg, Ill.-based company has been “Doing Whatever It Takes” 24/7 in the emergency and disaster response, surplus property and facilities management, property redevelopment and environmental services industries. Watterson was incorporated in 2001 with the goal of providing professional and consulting services to clients with environmental needs. Since that time, Watterson has grown into a trusted partner for their clients providing a whole suite of services across the United States and Canada. “Watterson’s goal is to …

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Sprouts Farmers Market Plans New Stores with New Format

by Katie Lee

Phoenix — Sprouts Farmers Market plans a series of new stores, including four with a new, smaller format in line with previously announced strategy, and one store relocation. The healthy grocer will open approximately 20 stores this year. Sprouts is known for offering a unique farmer’s market experience through an open layout fostering customer engagement, and a curated selection of innovative and responsibly sourced healthy products. “This year, Sprouts will densify its footprint with more stores opening in California, Florida and Texas,” says Dave McGlinchey, Sprouts’ chief format officer. “We’re …

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Coolgreens Partners with Interplan to Develop New Prototype Design

by Katie Lee

Oklahoma City, Okla. — Coolgreens has teamed up with Interplan, a full-service architecture and engineering firm, to design a flexible prototype that can expand or contract in size based on market conditions. Coolgreens’ new base prototype utilizes a consistent kitchen design but allows franchisees to flex the space in the front of house as needed. Compared to its current 2,000-square-foot model, the adaptable prototype allows franchisees to choose a space ranging from 1,000 to 2,200 square feet, as well as elements such as a drive-thru and/or dine-in seating. “We are …

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Disney to Close 60 Stores in North America, Shift Focus to E-Commerce

by Katie Lee

Burbank, Calif. — Once a shopping mall mainstay, The Walt Disney Co. plans to close at least 60 of its brick-and-mortar locations — or 30% — in the U.S. and Canada in a bid to shift its focus to e-commerce. These closures are being described as the “beginning” of the company’s downsizing efforts, according to The New York Times, with a significant number of overseas stores also expected to close in 2021. The specific stores to be closed were not disclosed. Changing consumer behavior was cited as a catalyst for the announced …

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William S. Taubman Promoted to President & COO of The Taubman Company LLC

by Katie Lee

Bloomfield Hills, Mich. — The Taubman Company LLC has promoted William S. Taubman to president of the company; he will also retain his role as chief operating officer. Taubman will continue to report to Robert S. Taubman, chairman and chief executive officer, while leading the company’s development, center operations, leasing and strategic communications functions. “Billy grew up in our business and is a creative, extremely well-respected thought leader within the retail real estate industry,” says Robert Taubman. “He has deep and productive relationships throughout retailing, and particularly with our luxury …

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