October 26, 2022
Just days after announcing its merger with Kroger, Albertsons posted better-than-expected 2Q22 results, with comps up 7.4%, driven by higher prices. Gross margin eroded due to higher product, supply chain and delivery costs (digital sales gre ... Read more
October 19, 2022
Kimco Realty, North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, reported that, based on the announced value of the merger, its existing s ... Read more
October 12, 2022
According to published reports, Amazon has put a freeze on corporate hiring in its retail division, including tech roles and at its Amazon stores segment, through the end of 2022. The reports cite an internal document sent to re ... Read more
October 5, 2022
Bed Bath & Beyond’s 2Q22 performance was as disappointing as expected, with negative $168 million of EBITDA, and comps down 26%. Full-year comps are still projected to decline in the 20% range, meaning comps in the neg ... Read more
September 28, 2022
Jason Buechel, the new CEO of Amazon’s Whole Foods, recently shared his vision of adding 50 new stores to the Company’s 534-store footprint. He did not provide details but plans to publicize the Company’s future strate ... Read more
September 21, 2022
Bed Bath & Beyond posted a list of 56 stores it plans to close by year end. This is part of the Company’s plan to close about 150 of its “lower producing” namesake stores, in addition to staff reductions and a merchand ... Read more
September 14, 2022
Olympia Sports Acquisitions, DIP and a number of related Debtor entities including Legacy Shoes (fka Shoebuy.com) filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the District of Delaware. Olympia is ... Read more
September 7, 2022
Bed Bath & Beyond secured commitments for new financing. The Company amended its $1 billion asset-based revolving credit facility, increasing the commitments by $130 million to $1.13 billion and providing for a $375 millio ... Read more
August 31, 2022
The Gap’s 2Q22 consolidated sales and comps fell 8% and 10%, respectively due to slowing demand, inflation pressure and 104 fewer stores since last year. In-store sales fell 10% and online declined 6%; it is now 34% of total sale ... Read more
August 24, 2022
Amazon is reportedly halting the rollout of more Fresh self-checkout food stores, following disappointing sales and economic headwinds. Planned store openings will proceed if leases have been signed and construction has begun, bu ... Read more
