Boca Raton, Fla. — Office Depot, a wholly owned subsidiary of The ODP Corporation, a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, is providing $1.5 million to Feeding America®, the largest domestic hunger-relief organization in the country, in support of its COVID-19 Response Fund to help local food banks across the country distribute more than 1.3 billion pounds of food to communities in need. “We are proud to support the Feeding America network of food banks as it works tirelessly …
retailers
Deerfield, Ill. — In its fiscal 2020 third-quarter results, Walgreens Boots Alliance Inc. said its performance was “significantly impacted by the COVID-19 pandemic,” causing sales to be roughly $700 million to $750 million lower. The decline is largely attributed to its international stores. In April, sales at Walgreens stores in the United Kingdom were down 85%. Deerfield-based Walgreens says that pharmacy volume was impacted globally by a drop in doctor visits and hospital patient admissions. Profits were also hurt by a shift to low-margin items and higher supply chain and …
Union, N.J. — Bed Bath & Beyond Inc. has appointed industry veteran Neil Lick as senior vice president, Owned Brands. Lick, formerly of Williams-Sonoma, will lead a newly formed team that expects to develop and launch a portfolio of customer inspired owned brands from 2021. The company’s product growth strategy includes a sharper focus on product curation and differentiation as well as higher penetration of owned brands in core categories such as bed, bath and kitchen. “To rebuild Bed Bath & Beyond’s authority as the leading omnichannel home retailer, we …
Seattle — Sur La Table, a leading retail destination since 1972 for those passionate about cooking and entertaining, has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to restructure and sell 70 stores to Fortress Investment Group. According to The Wall Street Journal, Sur La Table will close its remaining 51 stores. Sur La Table has entered into a stalking horse asset purchase term sheet with affiliates of Fortress Investment Group, which is working in partnership …
Union, N.J. — Bed Bath & Beyond plans to close 200 stores over the next 2 years. The Union, N.J.-based company made the announcement during its earnings statement for its fiscal first quarter, which runs from March through May. The report shows sales plummeted in the quarter due to the novel coronavirus pandemic and subsequent shutdowns affecting non-essential retailers. For the 3-month period, net sales were approximately $1.3 billion, a 49% year-over-year decrease. Bed Bath & Beyond reports that 90% of its physical locations were closed for the majority of …
Georgetown, Texas — According to its founder, Gordon Logan, the Sport Clips Haircuts board of directors has elected Edward Logan to succeed him as the new CEO of Sport Clips, Inc., the franchisor of the Sport Clips Haircuts system. “Edward has grown up in the business and played a key role in the company’s growth since he joined full-time in 2010, setting new standards for excellence as president and chief operating officer. It’s been rewarding working closely with him these past 10 years, and his leadership during the COVID-19 crisis …
San Francisco — Gap Inc. has launched a B2B product program focused on offering large organizations high-quality reusable, non-medical grade cloth face masks to supply to their employees as they welcome them back to work. With the tremendous impact COVID-19 has on the world, Gap Inc. has leaned in and worked quickly to serve customers in compelling and differentiated ways. As employers look to provide their teams and customers with a safe and healthy work environment, Gap Inc. has leveraged its deep supply chain relationships and agile operations to provide …
— By Brendan Kennedy — What retail businesses must do in a post-COVID world. It’s heartbreaking to see the devastation COVID-19 has had on the world, but especially for retailers and their employees abruptly impacted by the virtual halt of in-store commerce. From the small mom-and-pop shops to the big department stores, retailers are struggling to adapt business to “lockdown” status quo. Customers, too, have had their lives turned upside down with lines around the corner just to go into grocery stores, floor markers for 6 feet of social …
Bentonville, Ark. — Walmart, in partnership with Tribeca Enterprises, is creating a touring drive-in movie theater that will transform 160 Walmart parking lots into contactless outdoor cinemas. There, in the parking lots, customers can safely gather to watch movies programmed by the Tribeca Drive-in team. “Summer hasn’t really felt like summer yet, and I know I hear every day, ‘Mom, I’m bored!’” says Janey Whiteside, chief customer officer, Walmart. “We’re hoping to bring some summer fun to families across the country. We know Walmart plays a role in our communities …
Leawood, Kan. — AMC Theatres has delayed its U.S. reopening date until July 30. The company will resume operations of 450 U.S. theaters as part of a phased plan that is expected to bring the 600-plus U.S. theaters to full operation by early August. AMC says the new reopening date aligns with updated release timing for major movies such as “Tenet” on Aug. 12 and “Mulan” on Aug. 21. Previously, AMC had expected to be fully open globally in July when Christopher Nolan’s spy film “Tenet” was scheduled to release …