TD plans to open 150 U.S. branches by 2027, focus on Southeast The bank is targeting South Florida, Atlanta and North Carolina — areas where it would have grown through the scuttled First Horizon deal. IHOP shuts down its fast-casual spinoff, Flip'd IHOP is retiring its fast-casual Flip’d by IHOP [...]
Bipartisan agreement avoids potential catastrophe. President Biden and House Speaker McCarthy reached a tentative agreement on May 27 to suspend the debt limit until January 2025. This bill, known as the Fiscal Responsibility Act of 2023, was approved by the House of Representatives on May 31, and the Senate on [...]
Lowe’s looks to broaden rural appeal with new in-store shop concept The home improvement retailer said it is launching a one-stop-shop concept designed to bring customers living in rural areas a wider offering of farm, ranch and outdoor products. On Lowe’s earnings call, executives said that the company had piloted [...]
Spending priorities favor single-tenant. The outlook for dining and necessity retail remains positive as summer approaches, despite a flat trend in overall consumer spending. Continued inflation, labor market concerns and high interest rates are influencing households to prioritize social interactions over big ticket items that were popular during lockdowns. In [...]
Consumption tailwinds back demand for available space. Labor market resiliency, wage growth and easing inflationary pressures aided consumers’ spending power in April, supporting a 0.6 percent increase in core retail sales. Households concentrated their spending on essential goods and seasonal items during the month, generating sales growth across the health [...]
Bed Bath & Beyond store closures will kick off a land grab for fast-growing retailers Former Bed Bath stores could turn into a variety of other retail spaces, said Deborah Weinswig, CEO of Coresight Research, a retail advisory group. They could become doctor offices for CVS or Walgreens, as the [...]
Inflation descending at a more subdued pace. Annual growth in the headline consumer price index (CPI) slowed to 4.9 percent in April, marking the 10th month in a row that this metric has decelerated since the Federal Reserve began tightening policy in the current cycle. Increases in the cost of [...]
Vitamin Shoppe parent going private in $2.6B deal Franchise Group, which owns several brands including The Vitamin Shoppe and Pet Supplies Plus, has announced that it will become a privately held company through a deal worth $2.6 billion. The acquisition will be led by Brian Kahn, the CEO of Franchise [...]
Olive Garden owner Darden Restaurants buys Ruth’s Chris Steak House for $715 million Darden Restaurants has announced its acquisition of Ruth's Hospitality Group, the parent company of Ruth's Chris Steak House, for $715 million. With over 150 locations across the globe, the steakhouse generated $505.9 million in revenue last year. [...]
Bed Bath & Beyond files for bankruptcy protection after failed turnaround efforts Since early January, the struggling home goods retailer has been warning about the possibility of bankruptcy. After a disappointing holiday season, the company issued a "going concern" notice, indicating that it might not have enough cash to cover [...]
