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Yum! Brands to Accelerate AI Innovation with NVIDIA

by Katie Lee

Louisville, Ky. — Yum! Brands, the parent company of KFC, Taco Bell, Pizza Hut and Habit Burger & Grill, is partnering with NVIDIA to accelerate the development of innovative AI technologies for Yum! restaurants around the globe. Yum! Brands, the world’s largest restaurant company with over 61,000 locations, is NVIDIA’s first AI restaurant partner. This collaboration brings the two powerhouses together to integrate AI into the restaurant and retail industry at an unprecedented scale. Yum! Brands has begun piloting multiple AI solutions in select Taco Bell and Pizza Hut locations …

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Meijer to Open 3 New Northeast Ohio Supercenters in May

by Katie Lee

Grand Rapids, Mich. — Meijer will open three new supercenters in Northeast Ohio on May 8, increasing the retailer’s store count to 58 in the state. The new 159,000-square-foot supercenters will be located in Austintown, Medina and Richmond Heights. The stores will feature the wide assortment of fresh produce and grocery staples Meijer customers know and love. The supercenters will also include a full-service pharmacy, health and beauty care section, an expansive pet department, electronics, toys and sporting goods. A Meijer Express gas station will open on April 10 adjacent …

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International Dairy Queen Hires Chief Operating Officer

by Katie Lee

Minneapolis — International Dairy Queen, Inc. (IDQ) has hired Art D’Elia as chief operating officer, U.S. and Canada, reporting to the president and CEO. He will lead a team of nearly 275 DQ® employees in operations, training and marketing to achieve the company’s financial objectives, grow franchisee sales and profits, and maintain and grow the strength and reputation of the DQ system. “Art’s strategic vision for the DQ business and strong leadership in brand strategy, marketing, operations and system sales growth position him well to lead our business in the …

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Fossil Group Appoints Chief Financial Officer

by Katie Lee

Richardson, Texas — Fossil Group, Inc. has appointed Randy Greben as chief financial officer, effective March 17. He replaces Andrew Skobe, interim chief financial officer. Greben will oversee Fossil Group’s global financial strategy, focusing on leading the organization’s financial turnaround and business transformation. With more than two decades of financial leadership experience, Greben brings a strong track record of business transformations — ranging from deep turnarounds to high-growth strategies for a number of leading consumer brands. “For decades, Fossil Group and its iconic global brands have been part of the …

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Sweetgreen Opens 250th Location, First in Richmond, VA

by Katie Lee

Richmond, Va. — On March 18, Sweetgreen opened its first Richmond, Va., location in Carytown. The 2,162-square-foot location marks another milestone as Sweetgreen’s 250th restaurant. “Sweetgreen was founded just a couple of hours from Richmond with the goal of bringing communities together through fresh, high-quality food,” says Jonathan Neman, co-founder and CEO of Sweetgreen. “We’re honored to carry that mission forward in Carytown, partnering with local businesses and serving delicious meals made with real ingredients. Opening our 250th location here makes this moment even more special, and we couldn’t be …

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Forever 21 Files for Chapter 11 Bankruptcy, Will Close All U.S. Stores

by Katie Lee

Los Angeles — Forever 21 has filed for Chapter 11 bankruptcy and will begin the process of closing all its U.S. stores. According to Reuters, the U.S. store count is about 350. The Los Angeles-based apparel retailer filed over the weekend in the U.S. Bankruptcy Court for the District of Delaware. Forever 21 has entered into a plan support agreement with its lenders to begin the voluntary closure process while continuing to look for sales opportunities of existing U.S. assets. Forever 21 was founded in 1984 and had a footprint …

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Dine Brands International Unveils 2025 Development Plans

by Katie Lee

Pasadena, Calif. — Dine Brands International is set to expand its dual-branded Applebee’s and IHOP concept in 2025. This expansion includes entering the Costa Rican market with franchisee BLT UK Holdings Limited, and opening the first non-traditional restaurants in Mexico with franchisees Grupo Shogua and ATH Group. The dual-branded format, combining Applebee’s and IHOP under one roof, has been a key part of Dine Brands’ international growth strategy. Currently, there are 18 dual-branded locations across seven markets: Mexico, Canada, UAE, Kuwait, Saudi Arabia, Honduras and Peru. In 2025, the company …

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The Children’s Place Appoints CFO

by Katie Lee

Secaucus, N.J. — The Children’s Place, Inc., the largest pure-play children’s specialty retailer in North America with an omnichannel portfolio of brands, has appointed John Szczepanski as chief financial officer, effective March 31, 2025. He will report to Muhammad Umair, president and interim chief executive officer. As CFO, Szczepanski will oversee finance, accounting, financial planning & analysis, tax, treasury, procurement, investor relations, internal audit and real estate.  “Today marks an exciting new chapter for our company as we welcome John to be our chief financial officer,” says Umair. “During this …

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16 Handles Names New VP of Franchise Development

by Katie Lee

New York City — National frozen dessert brand 16 Handles has named Fred Frey, an accomplished restaurant franchise development leader with an extensive background in finance and business growth, as its new vice president of franchise development. He joins the company from Shipley Do-Nuts. Most recently, Frey served as director of franchise development at Shipley Do-Nuts, where he played a key role in the company’s largest expansion to date, securing 117 franchise agreements in 2024 alone. Prior to that, he was franchise development manager for iced tea brand HTeaO, leading …

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Sycamore Partners Agrees to Acquire, Privatize Drugstore Giant Walgreens in Multibillion-Dollar Deal

by Katie Lee

Deerfield, Ill. and New York City — Walgreens Boots Alliance (WBA) has entered into a definitive agreement to be acquired by an entity affiliated with private equity firm Sycamore Partners. The total value of the transaction is $23.7 billion, according to WBA, including an equity value of $10 billion, as well as debt, capital leases and potential future payouts from the opioid and Everly Health Solutions COVID-19 testing settlements. Upon completion of the transaction, which is expected to close in the fourth quarter of 2025, WBA common stock will be …

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