With many retailers releasing their quarterly earnings
reports within the past two weeks, there was bound to be a heavy focus on the top
industry players. Here’s tidbits of this week’s news items that have managed
to slide under the radar in the face of all the Q1 hubbub!
Google
Express Delivering For Texas-Based Retailers: Google has partnered with
Costco, Walgreens, Barnes & Noble and Whole Food Market to deliver
groceries and merchandise from brick-and-mortar locations to consumers within Texas.
The service will begin operating in Texas on June 1, and is expected to expand
to neighboring Arkansas and Oklahoma. Amazon, its main competitor, recently built
new fulfillment centers in Texas, illustrating the market potential the state
has when it comes to delivery. With Walmart having such a stronghold in these
three states (Arkansas is its home state) as it looks to bolster its own online
shopping offerings, look for the delivery competition to flame up in the region
even further in 2016.
Starbucks
Reaches Further Into Sustainability: Starbucks plans to raise to raise
$500 million to pay for sustainable projects, most notably support programs for
farmers in coffee-growing regions. The coffee chain said it would sell 10-year
bonds to go toward those projects, demonstrating the company’s dedication to
upholding a greater focus on environmental and social issues within its
business practices. Starbucks has proven to devote itself to farming-related
causes in the past, with the company operating an agronomy center in Costa Rica
along with a network of eight farmer support centers around the world. The
company has thus far committed to invest $50 million in short- and long-term
loans to farmers.
Vineyard
Vines Explores Sale Of Minority Stake: Apparel retailer Vineyard Vines
may possibly sell a minority stake to investment bank Goldman Sachs, which
would potentially bolster the company’s value to as high as $1 billion. Perhaps
most striking about the potential sale, is that the family-owned company has
been operated by its two sibling founders Shep and Ian Murray since they established
the company in 1998.
Advertisement
Smart
& Final Opens 33 California Stores Acquired From Haggen: Grocery
chain Smart & Final has opened 33 new stores in California as part of its aggressive
expansion plan to open 100 new locations over the next four years. In December
2015, the retailer acquired all 33 locations from fellow supermarket chain Haggen,
which filed for bankruptcy before selling off most of its assets to Albertsons.
All new stores feature Smart & Final’s Extra! format, which includes
expanded frozen, deli and meat sections, a full produce section, organic and
natural food products, private label offerings, and self-serve bulk goods.
Haven’t had your fill
of weekly news? Head over to the RTP
site and check out the recent #RIC16 coverage!
