Gatewood Retail News

Gatewood Retail News

ICONIC MENSWEAR RETAIL ENTERPRISE CELEBRATES A BIRTHDAY – The Locker Room Turns 57         

                                       ICONIC MENSWEAR RETAIL ENTERPRISE BEGINS ITS 57TH YEAR                            Alex Gatewood opened the Locker Room in Tuscaloosa October 28, 1964 Tuscaloosa, AL   The Locker Room, a traditional menswear retail enterprise that coined the term ‘Elephantwear’ and made Gameday wear a national fashion trend, celebrates its 57th year in business on October 28th. The 7000 SF store located at 2104 University Boulevard in Tuscaloosa, is owned, and operated by Alex Gatewood who at 79, continues to set the pace for his “less seasoned” employees. October 28, 1964 was a day…

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How Restaurants Can Approach an Exit Strategy

If the restaurant is facing double-digit reductions in revenue, a decrease in staffing, and no immediate path to recovery, then the operator needs to contact a professional, Webb says. Source: NRN BEN COLEY  October 2020 With colder months ahead and a second wave of COVID-19 predicted by some public health officials, the path forward for restaurants doesn’t become any easier. Edward Webb, an advisory partner at accounting and consulting firm BPM, LLP has a number of clients in the industry who are determining the best exit strategy, which could be selling the business, winding down and closing permanently, or bankruptcy. Backed by 30 years of experience in consulting and financial management, the accountant says restaurants are “absolutely seeing a sea change.”…

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Amazon Finally Announced Prime Day. Target’s Response Is a Brilliant Example of How to Steal the Show

Source:  Inc. |  Jason Aten, Tech Columnist The retail giant announced its Deal Days for October 13 and 14–the same two days as Amazon’s Prime Day sale. Amazon just announced that Prime Day will finally happen October 13 and 14. The site-wide sale usually takes place in July but was delayed this year due to the coronavirus pandemic. That’s a pretty big deal considering that last year, Prime Day accounted for more of the company’s sales than Black Friday and Cyber Monday combined. Both customers and third-party sellers have been waiting for Amazon to give some indication when the two-day shopping event might finally arrive. If you happen to be one of the 150 million Prime members, paying $119 a year, this is…

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Former Jamba and Barcelona/Bartaco executives launch new blank-check company

Source:  Lisa Jennings for NRN A group of veteran restaurant operators and investors on Friday filed for an initial public offering with the goal of raising $200 million with a new blank-check company that will likely target the restaurant industry, according to filings with the Securities and Exchange Commission. Tastemaker Acquisition Corp. is the latest special purpose acquisition company, or SPAC, to launch with the plan of scooping up opportunities in the restaurant sector as the industry struggles to recover from the coronavirus pandemic. In August, &Pizza co-founder Doug Jacob and Ruby Tuesday founder Sandy Beall launched FAST Acquisition Corp., with sights set on the quick-service sector. Like FAST, the new Tastemaker SPAC has a deep bench of industry executives…

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Harris Poll Exclusive: Online Shopping Hasn’t Perfected the Experience Factor

Ecommerce will never perfect experience because it has none to perfect. Their main playing cards are price and convenience and at times, selection. These are extremely important features of the retail game but the true winners have conquered the outstanding customer service demands of the successful brick and mortar experience then married that to seamless ecommerce. Tracy Gatewood |  Gatewood Retail Source: Hallie LeSavage | Retail Brew  The pandemic has expedited retail’s shift from physical stores to digital commerce by approximately five years, per IBM’s U.S. Retail Index. That means new earnings jargon for retailers—and new routines for shoppers. Speaking of retailers’ first priority…the Harris Poll exclusively shared an August survey of 1,962 U.S. shoppers’ attitudes toward e-comm with Retail Brew. The…

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New York Fashion Week Goes Home

Source:  Halie LeSavage | Retail Brew  In the biggest fashion crossover curveball since Crocs and my closet, Lowe’s revealed a major collaboration with next month’s New York Fashion Week. Designers Christian Siriano, Jason Wu, and Rebecca Minkoff will integrate Lowe’s products into their upcoming outdoor presentations next month. Lowe’s will livestream each designer’s show on its Twitter account. The Lowe’s logic: A quarantine surge in home improvement sales made living rooms “an epicenter of fashion,” said Lowe’s chief brand and marketing officer Marissa Thalberg. Meanwhile, apparel sales haven’t quite recovered from record lows. That may have dented designers’ show budgets and opened the door for an unexpected partner. Here’s the thing: Home and apparel crossovers work best when brands with overlapping audiences or aesthetics co-create…

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More Pain Ahead for Landlords as Restaurant Bankruptcies Poised to Balloon in Coming Months

Source: CNBC / Lauren Thomas/ Amelia Lucas Industry analysts and restructuring experts say another wave of restaurant bankruptcies is looming, as government funds run out and the cooler months roll around, making outdoor dining less viable. “Pre-pandemic, you were already over-saturated with restaurants,” said Michael Jerbich, president of B. Riley Real Estate. “Then the pandemic comes, and you have the perfect storm.” Some restaurant landlords have struck short-term deals with their tenants, dramatically slashing base rent and asking for a percentage of sales instead because they know it could be tough to find new tenants. A chef walks towards the entrance of a California Pizza Kitchen Inc. restaurant in New York. Andrew Harrer | Bloomberg | Getty Images Restaurants have…

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Popeyes’ Next Act: Become a Global Icon

The chicken chain has had one of the most incredible years in quick-service history. What’s the follow-up? Becoming a household name all over the world. FAST FOOD | AUGUST 2020 | SAM OCHES       POPEYES Is a Popeyes takeover coming? McDonald’s Big Mac. Burger King’s Whopper. KFC’s Original Recipe. Arby’s Classic Roast Beef. Dairy Queen’s Blizzard. The quick-service restaurant industry is built on the wrappers and clamshells of iconic menu items, billons of dollars spent every year on food that exists as much in the cultural zeitgeist as it does in the grease-flecked bags served out of fast-food windows across America. And in 2019, another menu item climbed to the highest reaches of cultural relevance: Popeyes’ Chicken Sandwich. The sandwich—made up of…

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SteinMart Files for Bankruptcy with Store Closing Plans

Stein Mart files for bankruptcy with store closing plans By Marianne Wilson – 08/12/2020 Stein Mart is the latest retail victim of the COVID-19 pandemic. The Jacksonville, Fla.-based off-pricer filed for Chapter 11 bankruptcy protection and plans to permanently close most of, if not all, its 279 stores. Stein Mart said it already has launched a store closing and liquidation process and continues to operate its business in the “ordinary course” in the near term. The retailer also is considering the sale of its e-commerce operations and intellectual property. [Further reading: Stein Mart signals it might not survive pandemic] “The combined effects of a challenging retail environment coupled with the impact of the coronavirus pandemic have caused significant financial distress on our business,” Hunt Hawkins,…

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When the Mall Owns the Retailer

Bankruptcy court has emerged as a shopping mecca for Sparc Group, the 50-50 partnership between Simon Property Group and Authentic Brands. Simon AUTHOR Daphne Howland@daphnehowland PUBLISHED Aug. 17, 2020 Bankruptcy court has emerged as a shopping mecca of sorts for Sparc Group, which, after successfully bidding on a series of retailers in Chapter 11, is now the “operating partner” for Aeropostale, Forever 21, Lucky Brand and Brooks Brothers, and is a rumored suitor of J.C. Penney. The venture says it supports “over $2.7 billion in global retail sales annually.” “Sparc Group” isn’t a typical retail enterprise, but, rather, half mall developer Simon Property Group, half brand conglomerate Authentic Brands Group — an entity designed to, as Simon CEO David Simon told analysts earlier this month, capitalize “on various value-creating…

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