Columbus, Ohio — Big Lots Inc. has reported net sales of $1.6 billion in its fiscal second quarter, which ended Aug. 1. This figure is 31.3% higher than the second quarter of 2019, which totaled $1.2 billion. Bruce Thorn, president and CEO of the Columbus-based retailer, says the “record-breaking results” were driven by both in-store and online activity. Big Lots also reported net income of $452 million, which includes $341.9 million in earnings due to the sale-leasebacks of several distribution centers. The company’s stock price closed at $55.70 per share …
COVID-19
Rosemont, Ill. — US Foods Holding Corp., a leading foodservice distributor, has launched US Foods Ghost Kitchens, a program designed to guide restaurant operators every step of the way when opening their own operation, helping them easily add a new revenue stream. With the addition of this program, US Foods customers now have access to exclusive resources developed to streamline the process of starting a ghost kitchen, including proprietary technology to help identify menu opportunities, a detailed playbook to guide decision-making, dedicated marketing support, webinars and one-on-one consultations with US …
— By Crystal Jacobs — Restaurant cybersecurity and cyber insurance are more relevant than ever as online orders boom amid COVID-19. As the Covid-19 viral pandemic continues to cause major disruptions throughout the global economy, countless restaurants across the United States have shifted to a delivery- or pickup-only business model in order to survive, often with a heavy reliance on online orders and digital payment. Criminal actors are taking advantage of this spike in online commerce: March 2020 saw a 600% increase in email phishing scams, whereby criminals send …
— By Marc Ferguson — A closer look at electrostatic sprayers. Of all industries, COVID-19 has impacted the hospitality industry just about the hardest. Now, as restaurants around the country begin to reopen, most are taking several steps to ensure patrons feel safe and are safe in their properties. One restaurant in Texas went so far as to hire a “bathroom monitor.” The duties of this bathroom monitor is to clean restrooms after every use. While most restaurants and hospitality properties are increasing cleaning frequencies considerably, for most, cleaning restrooms …
— By Darren Waxman — Retail has changed forever. It’s time to make a pandemic pivot. The COVID-19 pandemic has drastically changed the way American’s interact, communicate, work, shop, and mingle. Social distancing has instantly become the new normal, toilet paper has become a scarcity, while Netflix and Disney+ are now considered primary needs. The spread of the coronavirus has spawned consumers to panic buy items virtually overnight, which in turn has severely disrupted supply chains and caused shortages of everyday items. Retailers and restaurants that were not operating …
Manhattan Beach, Calif. — Skechers is donating 1 million masks to essential workers and communities in need. Skechers is partnering with the United Way of Greater Los Angeles and more charities across the country to deliver the masks directly to those who will most benefit. The 1 million masks, which are non-medical, triple-layer surgical style, will be donated to non-profit organizations that typically do not receive PPE from government institutions, with a focus on economic hardship. This includes community and public education centers, health and rehab outreach facilities, plus homeless …
Chattanooga, Tenn. — CBL Properties has struck a deal with its lenders on a restructuring plan that will eliminate $900 million in debt and reduce annual interest expense by $20 million. Although the official press release from CBL did not mention bankruptcy, a representative from the company told the Chattanooga Times Free Press that the company plans to use the Chapter 11 bankruptcy process to complete the restructuring. The announcement follows the company’s August 18 second-quarter earnings call, where CBL revealed that it had drawn down its entire revolving credit …
— By Danny Miller, Transformative Wave — The airborne transmission of COVID-19 has impacted many retail and restaurant facilities in their ability to safely operate indoors. As facility operators look to comply with COVID-19 safety guidance, there are three battlefronts that have arisen: disinfection, filtration and ventilation. Numerous products are being marketed and confusion can arise about what should be the priority. Disinfection Disinfection attempts to kill the virus include using products like UV-C lights or bipolar ionization. UV-C has been shown to be effective but largely on stationary …
Charlotte, N.C. — Clean Juice®, the first and most prolific USDA-certified organic juice bar franchise, has added nine new stores across the nation since July 1, 2020, continuing its rapid expansion despite the headwinds of the global COVID-19 pandemic. Clean Juice’s continued growth in a surging, health-conscious environment is attributed to the strength of its development system, its franchise support structure and the power of its brand, which is built on USDA-certified organic food and beverage offerings. Three of the newly awarded units were expansions by existing franchise partners in …
Atlanta — Edible®, a leading gift and treat destination, is reflecting on a record-breaking 6 months. A resilient and essential business, the brand has signed a total of 37 new franchise agreements since January. Now, with a larger franchise development team in place, Edible is aiming for its next ambitious growth goal: to sign 80 to 100 new franchise agreements in the U.S. and to find new franchisees for five international countries between now and the end of the year. “We have an entrepreneurial and experienced management team in place …