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
January 11, 2023
In a January 5 announcement, Bed, Bath & Beyond indicated that “there is substantial doubt about the Companys ability to continue as a going concern.” It further indicated it is evaluating strategic alternatives, “includ ... Read more
January 4, 2023
Published reports indicate that Amazon Fresh has fully built at least seven grocery stores that are currently sitting unoccupied (dubbed “zombie stores”). Unopened stores are located in San Diego, CA, Eden Prairie, MN, Philadelphia, PA, ... Read more
December 21, 2022
Stater Bros. momentum continued in FY22 with estimated sales increasing nearly 10% as the Company benefited from elevated at-home eating, high single-digit grocery inflation, and two new store openings. To differentiate itself from the competiti ... Read more
December 14, 2022
Costco saw its nine-quarter streak of double-digit revenue growth broken with its 1Q23 results. While not up double-digits, it was still respectable, as revenue gained 8% and comps grew 7.1%. Management indicated that inflationary increases ... Read more
