Home Depot has added a kids' collection to its StyleWell home decor line as part of the chain's focus on expanding its role as a go-to retailer for home goods, Home Depot Home General Manager Corinne Bentzen said. The company is forecasting 15% to 20% growth in the kids' market over the next decade as more young adults start and grow their families, Bentzen said.
Kohl's says it will evaluate options for monetizing more of its $8 billion real estate portfolio after recently dropping plans for a sale to Franchise Partners. With the exception of a small sale-leaseback deal that raised $127 million early in the pandemic, Kohl's had been resistant to real estate sales, but changes in the market could make such deals more attractive going forward, board chair Peter Boneparth said.
Giant Food is bringing back its Local Produce Boxes program after a successful introduction last summer. Boxes filled with locally grown, in-season fruits and vegetables will be available through GiantFood.com this summer and through the Giant Delivers service.
Harris Teeter is encouraging customers to round up their transactions through its Backpack Boosters Round Up Campaign. Funds will be given to local food bank backpack programs to provide snacks and meals to area students in need.
Winmark Corp. -- the parent of resale stores under five banners including Once Upon a Child, Play It Again Sports and Plato's Closet -- felt the initial pinch of the pandemic before things picked up again, and now it's gaining steam amid consumer concerns about inflation, CEO Brett Heffes says. Franchisees operate 1,276 stores with 48 more in the works, and Winmark has exited some other industries to focus on retail since Heffes took the reins two years ago.
Brick-and-mortar beauty retailers can drive in-store traffic with personalized experiences, such as product demonstrations and makeovers, according to industry contacts. Consumers are expecting to find the same digital tools that support online purchase decisions in-store as well, said Alia Gogi, Sephora Asia president.
New York City's average retail asking rent climbed 2.9% on a year-over-year basis in March, reaching $57.95 per square foot, and the rate could recover to its pre-pandemic figure of $58.45 per square foot by the end of the year, according to Marcus & Millichap. However, inflation and a possible recession could affect the sector's recovery, with Lon Rubackin of CBRE noting that "there are a lot of tenants holding their breath and just trying to figure out where the world will be."
NFTs, social commerce, Web3 and the metaverse have the power to change the way we live and the way we shop and spend. Businesses are innovating ways to enhance the consumer experience through the digital world, creating a new market for retailers to find success. Learn more at NRF Nexus this month.
Panera Bread and a USHG Acquisition, a special purpose acquisition company created by restaurateur Danny Meyer, have ended plans that would have taken Panera public for the second time. The companies cited "deteriorating capital market conditions" as the reason for dropping the merger and IPO plan that was first announced in November.