Scott Baltic / Commercial Property Executive – An investor group led by Cerberus Capital Management L.P., and which already owns the parent company of Albertsons and several other major grocery retailers, will buy Safeway Inc., of Pleasanton, Calif., for about $9.4 billion, Cerberus announced Thursday. The investor group, AB Acquisition L.L.C., which owns Albertson’s L.L.C. […]
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How the least-loyal generation is shaping retail
Kelli B. Grant / CNBC – Companies marketing to millennials have found doing business with this generation is no easy feat. New survey data from Pew Research Center may offer some insight into why: These consumers are markedly different than previous generations. Millennials, whose ages range from 18 to 33 in 2014, are America’s most […]
“Tsunami” of store closings predicted for U.S. retailers
Joan Verdon MCT / Miami Herald – The experts who keep track of store openings and closings have been forecasting for more than a decade that the day was coming when American retailers would have to pay for building way too many stores. That day of reckoning, some say, has arrived, with one retail watcher […]
Gem of a deal? Analysts say with sale, Zale’s outlook is bright
Danielle Abril/Dallas Business Journal—Zale Corp.’s announcement that it agreed to be sold to Signet Jewelers Limited for $690 million has left industry analysts with a positive outlook on the Irving-based jeweler, even though there are still a lot of unanswered questions. Wednesday morning, Zale’s stock popped about 40 percent to $20.87 per share from $14.91 […]
Early Black Friday: Never-never land for shoppers?
Kelli Grant/CNBC—Just a few years ago, 5 a.m. was the magic hour for Black Friday, when shoppers crowded into just-opened stores for doorbuster deals. Now, it’s often a ghost town. The Target in Hackensack, N.J., was quiet at that time, with no music playing and only a handful of shoppers wandering the aisles. Most of […]
Black-and-blue retailers bet on ‘Gray Thursday’
Brian O’Connor/The Detroit News—If you want to know why malls and big-box retailers are opening as early as 6 a.m. on Thanksgiving, the answer is the same you’ll hear from the throng of shoppers surging through the doors for those blockbuster holiday deals: fear of missing out. Retailers know that opening earlier won’t prompt shoppers […]
