Gatewood Retail News
Apple becomes US’ first $2T company Shares have gained 59% this year By Jonathan GarberFOXBusiness close Apple to split stock to lower price Apple Inc. became the first U.S. company with a $2 trillion market capitalization as its share price climbed above $467.77. The tech giant joins Saudi Aramco as the only companies to reach a $2 trillion market value. Armaco, Saudi Arabia’s state-owned oil company, briefly topped the level just days after its December 2019 initial public offering. The company currently is currently worth $1.82 trillion. Apple’s market capitalization has soared by 59%, or $695 billion this year. Shares have gained 22% since July 30, when the company reported blockbuster second-quarter earnings and announced a 4-for-1 stock split. Ticker Security Last Change Change %…Read More >>
Source: Nations Restaurant News| Nancy Luna @fastfoodmaven Cracker Barrel Old Country Store is joining the growing list of restaurant chains deleting menu items to simplify operations during the coronavirus pandemic. The Lebanon, Tenn.-based comapny, which reported a 41.7% decline in same-store sales in the second quarter, has streamlined its menu for both guests and employees by eliminating items while also adding a few new dishes. Related: Cracker Barrel’s post-pandemic strategy: testing beer and wine program, rolling out new menu “We delete menu items from time to time to make room for new signature, craveable menu items that our guests love,” Cammie Spillyards-Schaefer, vice president of Culinary and Menu Strategy, told Nation’s Restaurant News in a statement. Cracker Barrel representatives declined to name the items removed…Read More >>
National Retail Federation | Karen Kroll With the COVID-19 pandemic showing little sign of letting up, the need to social distance is likely to remain for a while. That creates challenges for many businesses, particularly restaurants. After all, part of the fun of eating out comes from soaking in the energy of the crowd and enjoying the ambiance. Restaurant-goers might want to keep their distance, but not feel like they’re the only ones in a room. And while plexiglass dividers can keep people separated, they can also look sterile. Rethinking the Space Visitors to Lena’s Wood Fired Pizza & Tap in Alexandria, Va., might be forgiven for wondering if they’ve accidentally wandered into an elegant party. To keep patrons safe…Read More >>
Source: CNBC | Lauren Thomas KEY POINTS With more people clicking “buy” online, demand for industrial real estate could reach an additional 1 billion square feet by 2025, according to commercial real estate services firm JLL. The boom for fulfillment centers comes as the traditional retail real estate industry is suffering with store closures piling up and rents plummeting, as companies look to negotiate new leases. With online sales proliferating during the coronavirus pandemic, the U.S. is going to need more warehouses to store hoards of boxes and handle those orders. Holed up at home, and with many bricks-and-mortar stores temporarily shut, shoppers have turned to their computers and smartphones to buy everything from fresh groceries to new home furnishings to pet…Read More >>
If you are looking for a WINNING restaurant concept that would be 1) first to market, 2) family-friendly yet very cool 3) will possess a great opportunity for expansion, I would like to speak with you! In my work as a commercial broker specializing in restaurant and retail concepts, I rarely see concepts that make me want to get involved at this level but this concept is fantastic. This is a franchise and the candidate must meet the following criteria: $1MM in net worth (can include an investment partner) $500,000 in liquid capital Ready to begin development in next 3-6 months Previous experience in the restaurant industry a plus but not required. CONTACT: Tracy Gatewood Broker / Biggest Fan Gatewood…Read More >>
Source: National Retail Federation Prior to the COVID-19 pandemic, NRF commissioned PwC to update our 2014 study on retail’s impact on the U.S. economy. The latest results are in — and they profoundly illustrate the retail sector’s importance. And though the economic impact of the coronavirus pandemic will drastically reduce the numbers overall, they do emphasize the enduring importance of retail to the economy and any successful plan to rebuild. Across each measurement — employment, labor income and GDP contribution — retail’s total impact on the U.S. economy has grown significantly since our last report. Over the six-year period between reports, retail has grown its employment impact by a staggering 10 million jobs. While an element of the growth is attributable to…Read More >>
Source: Restaurant Dive Emma Liem Beckett Ghost kitchens, or cooking facilities that produce food only for delivery with no dine-in or customer facing areas, could create a $1 trillion global opportunity by 2030, according to a Euromonitor virtual webinar presented by Euromonitor’s Global Food and Beverage Lead Michael Schaefer. The firm predicts cheaper, faster and more reliable delivery could help this segment capture 50% of drive-thru service ($75 billion), 50% of takeaway foodservice ($250 billion), 35% of ready meals ($40 billion), 30% of packaged cooking ingredients ($100 billion), 25% of dine-in foodservice ($450 billion), and 15% of packaged snacks ($125 billion). Diners are becoming more comfortable with food delivery. Restaurant closures, in the wake of the novel coronavirus pandemic, will drive…Read More >>
Source: Atlanta Business Journal Every weapon U.S. shopping malls have deployed in the war against e-commerce — movie theaters that serve dinner, hands-on beauty chains and cocktail bars inside department stores — could be rendered useless by the novel coronavirus pandemic. Malls have been on a long, slow downward spiral for the better part of 15 years as shoppers shifted more of their spending online, bankrupting the stalwarts of American retail and forcing mall owners to look beyond retailers to fill the storefronts in their hulking properties. But the pandemic is a multifaceted threat that has mall owners in free fall, and some experts believe it will be the final death blow to hundreds of shopping malls across the country.…Read More >>
Source: Halie LeSavage Morning Brew Ascena Retail Group, parent to Ann Taylor and Lane Bryant, officially filed for Chapter 11 bankruptcy yesterday. Yes, I triple-checked this time. Around 60% of sales across Ascena’s brands came from its stores, so COVID-19 closures left a crater. But ballooning debts and an overcrowded portfolio hamstrung Ascena before the pandemic. In 2019, Ascena attempted to clean up its balance sheet by selling off maurices and liquidating Dressbarn. That wasn’t enough. Now, Ascena will close 1,600 of its 2,800 stores and sell off its plus-size label Catherines. This one hurts, even if you didn’t buy your First Real Job outfits at Loft. With Ascena on top of the Chapter 11 pile, more retailers have filed for bankruptcy…Read More >>
Source: Birmingham Business Journal Growing grocery chain ALDI has chosen a site in south Alabama for a new regional headquarters and distribution center. ALDI U.S. has purchased 160 acres north of Interstate 10 in Loxley to build a 564,000-square-foot facility, according to the Alabama Department of Commerce. The project represents a $100 million capital investment and will create 200 jobs in the Baldwin County city. Construction is scheduled to begin in early 2021. The facility is expected to open in 2022. “We are eager for ALDI to expand its presence in our state,” said Alabama Governor Kay Ivey. “We’re proud to stand behind ALDI’s commitment to bringing value to the people of Alabama and the Gulf Coast region, and we…Read More >>
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