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What’s In Store

by Katie Lee

— By Kenneth Gruskin, AIA — Coronavirus as a catalyst for innovation in stores and restaurants.   The coronavirus has resulted in a cosmic shift in retail and hospitality. Customers have moved from seeking high-touch retail experiences, extensive product/service selection, and vibrant, extensive menu and dining options/experiences…to staying well. In response, retailers and restauranteurs are now focused on providing efficiency, safety and convenience. This has accelerated the transition from “bricks to clicks” and, with this, many retailers are adapting their physical locations to better accommodate the surrounding population, using these …

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FoodMaxx Reopens Newly Renovated Store in Oakland, Calif.

by Katie Lee

Modesto, Calif. — FoodMaxx officially welcomed shoppers to its newly renovated Oakland, Calif., store on Feb. 3. “With shoppers facing ever-tighter budgets during the pandemic, our Number 1 goal at FoodMaxx is to provide this community with the very best values, day in and day out, without sacrificing quality,” says Dean Willhite, vice president of store operations, FoodMaxx. Upon entering the store, shoppers experience FoodMaxx’s unbeatable “Wall of Value,” offering the best deals in town on grocery essentials and popular snacks. The store’s interior renovations feature the FoodMaxx warehouse-style format …

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Newspeopleretailers

Casper Expands Executive Leadership Team

by Katie Lee

New York City — Casper Sleep Inc., the award-winning sleep company, has made several leadership appointments, including Charles Liu as chief operating officer, Dara Williams as chief people and diversity officer, and George Poulios, vice president of retail, real estate and store development. “We are thrilled to welcome this bench of remarkable leaders to the team,” says Philip Krim, co-founder and CEO at Casper. “Dara, Charles and George bring critical skills and know-how to both our culture and business operations as we further our commitment to improve diversity and inclusion, …

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PGA TOUR Superstore Achieves Record Sales for 2020; Plans 6 New Stores in 2021

by Katie Lee

Atlanta — PGA TOUR Superstore, a leading experiential golf retailer, plans to open at least six new stores in 2021, reaching the 50-store milestone by the end of the year. The company also reported record comp store sales growth while gaining market share for fiscal 2020 — despite its brick-and-mortar doors being closed for nearly 2 months — as millions of people turned to golf during the pandemic. In January, PGA TOUR Superstore opened its first store of 2021 in Natick, Mass., with five additional stores planned for later this …

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Cover Storyfranchise developmentFrom The Magazineretailers

Making the Cut

by Katie Lee

— Interview with Greg Smith —   Sport Clips Haircuts proves how essential its service is with a thriving franchise system of more than 1,800 stores and locations in all 50 states.   As many of us realized very soon into the pandemic, it’s easy to argue that hair salons are essential services. Nevertheless, like other hair salons around the country, Sport Clips Haircuts was forced to close its more than 1,800 locations during the spring shutdown. By October, nearly all had reopened and, as we continue to navigate the …

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Walgreens Names Former Starbucks COO as Chief Executive Officer

by Katie Lee

Deerfield, Ill. — Walgreens Boots Alliance, Inc. (WBA) has appointed Rosalind (Roz) Brewer as the company’s chief executive officer, effective March 15, 2021. Brewer will also join the WBA board of directors upon assuming the role. She succeeds Stefano Pessina who, as previously announced, will transition to the role of executive chairman of the board of WBA. Pessina has served as the CEO of the combined company for 6 years following the merger between Walgreens and Alliance Boots in December 2014. During his tenure, he transformed and modernized the company …

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L’Occitane, Inc. Files for Chapter 11, Will Optimize U.S. Store Footprint

by Katie Lee

New York City — L’Occitane, Inc., a leading U.S. retailer of beauty and well-being products rich in natural and organic ingredients that preserves and celebrates the traditions of Provence, France, has filed for voluntary Chapter 11 bankruptcy this week and will optimize its store footprint to best position its business for the future. To implement this store footprint optimization plan, including the contemplated exit of unprofitable locations, the company commenced a voluntary case under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District …

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AMC Theatres Raises $917 Million of Investment Capital, Says Bankruptcy is ‘Completely Off Table’

by Katie Lee

Leawood, Kan. — In an effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood, Kan.-based movie theater company says the increased liquidity should enable it to survive well into 2021. Of the $917 million, AMC raised $506 million of equity from the issuance of new common shares. Additionally, the company executed commitment letters for $411 million of incremental debt capital from upsizing and refinancing its European revolving credit …

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American Eagle Outfitters to Close 225 Stores, Bolster Aerie Brand to $2 Billion Revenue

by Katie Lee

Pittsburgh — The Pittsburgh-based company’s chief financial officer, Michael Mathias, announced plans to close 200 to 225 of the company’s 880 existing American Eagle locations over the next 2 to 3 years during a virtual investor meeting held Jan. 21. “Our primary focus for the next few years with American Eagle will be to build on our large cash-flow base by focusing on inventory efficiency, improving merchandise margins, managing expenses and closing stores to strengthen profit flow-through,” says Mathias.The company’s American Eagle banner anticipates roughly flat growth compared to 2019, …

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Bed Bath & Beyond Appoints New SVP, GM of Harmon Health and Beauty Stores

by Katie Lee

Union, N.J. — Bed Bath & Beyond Inc. has named Mara Sirhal as senior vice president and general manager for Harmon Health and Beauty Stores, effective immediately. Sirhal will report to Joe Hartsig, executive vice president and chief merchandising officer at Bed Bath & Beyond Inc. and president of Harmon Health and Beauty Stores. Sirhal will be responsible for unlocking the potential of Harmon Health and Beauty Stores, leading all operational aspects of this value-driven business. This includes retail, online and distribution, as well as developing and implementing an improved customer value …

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