March 22, 2023
Foot Locker detailed plans to transform its store network over the next few years. The Company plans to close about 400 mall locations through 2026, which collectively represent 10% of its annual sales but have been underperforming, in part due to sl ... Read more
March 15, 2023
Dick’s Sporting Goods announced it was finally terminating the Field & Stream concept. Eight locations were closed in 4Q22 and will reopen this year as House of Sport stores and four as expanded Dick’s stores, with the five remaining stor ... Read more
March 8, 2023
Walmart announced its plans to open 28 new Walmart Health center locations in 2024. By the end of 2024, the Company expects to have more than 75 centers across the U.S., which would nearly double its current footprint. The first of the new Wa ... Read more
March 1, 2023
Bath & Body Works 4Q22 sales declined 4.6% YOY driven by a decrease in transactions and lower average ticket. At the Companys U.S. and Canadian stores, sales were down 5.1%, while international sales rose 30% and e-commerce sales fell 6.3% (25% of 4Q22 sal ... Read more
February 22, 2023
According to reports, Lidl laid off about 200 corporate employees at its U.S. headquarters in Arlington, VA, in an ongoing effort to course correct after its corporate headcount growth had outpaced its store expansion. No store-level workers were elimi ... Read more
February 15, 2023
Yesterday, Tuesday Morning Corporation, DIP filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Northern District of Texas. The proceedings have been designated as case number 23-90001. The petition states that the Debtors plan to pursue “a va ... Read more
February 8, 2023
Amazon’s 4Q22 sales came in above guidance, increasing 9% to $149.20 billion. Excluding the unfavorable impact of foreign exchange rates, sales would have increased 12%. Amazon Web Services (AWS) continued to perform the strongest, increasing 2 ... Read more
February 1, 2023
Party City, DIP was granted authority to reject leases on 28 locations closed prior to the Chapter 11 proceedings. These likely comprise some of the 55 stores closed just prior to COVID, and 13 others closed since, leaving the C ... Read more
January 25, 2023
At a recent conference, Whole Foods’ CEO Jason Buechel announced plans to escalate the pace of new store growth and expand to more global markets. The Company is planning to eventually open 30 or more stores a year, and while it currently has ... Read more
January 18, 2023
Albertsons reported favorable 3Q22 results, with comps up 7.9% fueled by inflation. Gross margins eroded due to higher product, shrink and supply chain costs, and lower COVID-related revenue. However, this was more than offset by the stronger sales ... Read more
