retailers

Ulta Beauty Plans CEO Transition; Also Promotes Internally to COO Position

by Katie Lee March 15, 2021

Bolingbrook, Ill. — Ulta Beauty plans leadership changes to drive continuity and continued momentum, all effective in June. Dave Kimbell, president, will succeed Mary Dillon as chief executive officer and will be nominated to stand for election to the company’s board of directors at the 2021 annual stockholders meeting. Dillon will transition to the role of executive chair of the board of directors. Kecia Steelman, currently chief store operations officer, will be elevated to the role of chief operating officer. “It has been the honor of my career to lead …

March 15, 2021

News retailers

Callaway Completes Previously Announced Merger with Topgolf

by Katie Lee March 12, 2021

Carlsbad, Calif., and Dallas — Carlsbad, Calif.-based equipment and apparel manufacturer Callaway Golf Co. has completed its merger with Topgolf Entertainment Group. The deal was originally announced in October 2020. Under the terms of the merger agreement, Callaway issued approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which previously held approximately 14% of Topgolf’s outstanding shares. Callaway shareholders now own approximately 51.3% of the outstanding shares of the newly combined entity, and former Topgolf shareholders (excluding Callaway) own approximately 48.7%. Both firms have …

March 12, 2021

construction and design News restaurants retailers

Brookfield Properties Opens Retail, Dining Portion of Fifth + Broadway in Downtown Nashville

by Katie Lee March 11, 2021

Nashville, Tenn. — Brookfield Properties has opened the retail and dining component at Fifth + Broadway, a 6-acre mixed-use project in downtown Nashville, Tenn. Brookfield and local developer Pat Emery partnered on the development, which formerly was the location of the Nashville Convention Center. General contractor Skanska broke ground on the project in April 2017, when San Diego-based OliverMcMillan was the lead developer before its acquisition by Brookfield in February 2018. Designed by Gresham Smith and Gensler, the newly opened portion of Fifth + Broadway features 200,000 square feet of …

March 11, 2021

News retailers

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

by Katie Lee March 11, 2021

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 …

March 11, 2021

News restaurants retailers

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

by Katie Lee March 11, 2021

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 …

March 11, 2021

News people retailers

Macy’s Makes Changes to Senior Leadership Team

by Katie Lee March 10, 2021

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 …

March 10, 2021

franchise development News restaurants retailers

Edible Opens Its First Ghost Kitchen, Optimizing Delivery Efforts

by Katie Lee March 10, 2021

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 …

March 10, 2021

News retailers

Charming Charlie Continues to Expand Nationwide with 14 New Locations

by Katie Lee March 9, 2021

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 …

March 9, 2021

construction and design franchise development News retailers

Sprouts Farmers Market Plans New Stores with New Format

by Katie Lee March 5, 2021

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 …

March 5, 2021

News retailers

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

by Katie Lee March 4, 2021

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 …

March 4, 2021

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