Shoppers are increasing their holiday budgets across income levels, but for those starting to repay student loans nearly half may cut back on spending. Dive Brief: As holiday retail sales are expected to increase, holiday shopping budgets are expected to grow 14% from last year to $1,652 on average, according to Deloitte’s 2023 Holiday Retail Survey...
UP TO 40 SMOKEY BONES COULD BECOME TWIN PEAKS UNDER FAT BRANDS’ RECENT OWNERSHIP. FAT Brands has hinted at the possibility of acquiring a concept that could be easily converted into Twin Peaks for a while. Smokey Bones, a full-service barbecue chain with a lively sports bar atmosphere, appears to fit the bill. The company acquired...
Pizza Hut extends hours into late-night daypart The restaurant chain is leaning on technology to jump on the latest trend Pizza Hut on Monday announced that it is extending its hours into the late-night daypart at “thousands” of restaurants, with units staying open until midnight or 2 a.m. The restaurant’s full menu will be...
The once bankrupt retailer Toys ’R’ Us is expanding by “land, air, and sea” as it looks to rebound next year with stores in airports, cruise ships, and in department stores. It has increased its global retail footprint by more than 50% with openings in the United States, United Kingdom, India, Dubai, and Mexico, and...
WHILE CONSTRUCTION BIDS ARE STABILIZING, PERMITTING AND EQUIPMENT TIMELINES ARE STILL NOT WHERE THE COMPANY WANT THEM TO BE. Two years ago during a call with investors, former Darden CEO Gene Lee lamented how COVID delays were harming unit growth. He hoped the company would soon reach the higher end of its 2-3 percent expansion target....
Fitness tenants are flexing their muscles by bringing in new, frequent visitors, according to new data. In May 2023, year-on-year visits to fitness tenants were up by 7.8% compared to 2022, according to placer.ai. That’s on top of a 30.3% increase in January, a 17.2% surge in February, an 11.4% climb in March and an...
Introduction: The Experience Factor Members of Gen Z are graduating into adulthood and many are finding their independence, as the oldest members of this generation get their first taste of the workforce. This cohort of 16- to 26-year-olds is also exhibiting an array of distinctive, and perhaps surprising, consumer habits. They have clear ideas about...
The DLC has never been more bullish on the fundamentals we see at the property level. Retailers are waiting in line for any vacant space. They see a clear migration of consumers and establishments toward the suburbs, and open-air retail is perfectly positioned to flourish in this environment. The numbers do not lie. Open-air retail...
Orlando, Fla. — Darden Restaurants, Inc. has completed its acquisition of Ruth’s Hospitality Group, Inc. The Ruth’s Chris Steak House brand now joins and complements Darden’s portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V’s and Bahama Breeze. Ruth’s Chris has 155...
Tenants’ Renewed Focus on Profitable Locations Fuels Exodus From Aging, Indoor Properties The American mall is undergoing a transformation, but retail property professionals are still assessing what exactly it’s turning into. Industry analysts agree, after thousands of stores have closed, that the “if you build it, they will come” strategy woven throughout the retail industry’s...
THE CASUAL-DINING BRAND SEEKS 200 STORES BY 2027 AND EXPECTS TO SURPASS $1 BILLION IN SALES IN THE COMING YEARS. Twin Peaks is approaching store No. 100, a milestone resulting from momentum and perseverance. As a casual-dining brand relying heavily on the in-restaurant experience, COVID couldn’t have been more of a nightmare. But Twin Peaks...
First Watch CEO Chris Tomasso described Q1 as one of the best quarters he can remember in his 17 years at the company. Same-store sales increased 12.9 percent year-over-year, lapping 21.9 percent growth in 2022. Traffic increased 5.1 percent, outpacing the brand’s competition. Adjusted EBITDA was $27.4 million, up 42 percent from last year. First...
James and Jim have teamed up and formed their own individual partnership to provide the highest level of specialized commercial retail real estate brokerage services for their clients. The Garner Shiebler Group will continue their specialized brokerage services with the inclusion and enhancement of the below exemplary agents. They are joined by the most incredible...
Jim Shiebler teamed up with David Dorsey from Gulfshore Business once again to share his insights on the latest news regarding Bed Bath & Beyond’s financial troubles and what’s in store for the Bell Tower Shops once they vacate. See Jim’s Points Below: Bed, Bath & Beyond Positives BB&B has very attractive store...
FED JUST ANNOUNCED ANOTHER .75% INTEREST RATE INCREASE Fed officials pushed up their short-term rate by a fourth consecutive hefty three-quarters of a percentage point four times in a row, bringing it to a range of 3.75% to 4.00%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from...
Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Market Square, a 65,688-square-foot shopping center in Fort Myers, Florida. The property sold for $13.2 million. “We generated a total of 11 offers for the asset and ultimately...
The sale of the 8,705-square-foot net-leased property located at 5743 Williamsburg Lane at State Road 44 at the main south entrance of The Villages was announced Monday by Marcus & Millichap Inc. Robert Freeman, James Medefind, James Garner, and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to...
FED JUST ANNOUNCED ANOTHER .50% INTEREST RATE INCREASE Fed officials pushed up their short-term rate by a slightly reduced half a percentage point, bringing it to a range of 4.25% to 4.50%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from your trusted advisors at Medefind Garner Shiebler Group....
FED JUST ANNOUNCED ANOTHER .25% INTEREST RATE INCREASE Fed officials pushed up their short-term rate by a slightly reduced quarter of a percentage point, bringing it to a range of 4.50% to 4.75%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from your trusted advisors at Medefind Garner...
FED JUST ANNOUNCED ANOTHER .25% INTEREST RATE INCREASE Fed officials pushed up their short-term rate by a quarter of a percentage point, bringing it to a range of 4.75%-5.00%. More information, reports, forecasts, perspectives, and strategies to come as they are announced from your trusted advisors at Medefind Garner Shiebler Group. Don’t...
he Brand’s New Off-Premises Concept Is Thriving, but that Doesn’t Mean it’s Veering Away from the Dining Room Experience. Photo Courtesy of ColleenMichaels. P.F. Chang’s didn’t need an unprecedented global pandemic to know that off-premises is the future. The chain’s To Go concept debuted on February 2, 2020, when there were fewer than 20...
Photo Courtesy of Brett. Petco is extending its move beyond food and supply sales by looking to add 50 to 55 locations of its growing slate of veterinary offices in the coming year. The retailer aims to capitalize on the rise of pet adoptions since the start of the pandemic, especially among Gen Z...
CEO Wants to Take Combined Company to ‘New Heights Domestically and Globally’ Photo Courtesy of JHVEPhoto. Dave & Buster’s Entertainment, an experience-based restaurant chain with games and arcades created in the early 1980s, is readying itself for “a fresh new look” in the coming years after completing a nearly billion-dollar acquisition that brought a...
Olive Garden and Longhorn Set Total Sales and Weekly Sales Records in the Third Quarter, Further Widening Their Gap With the Industry. Photo Courtesy of Brett. Throughout the pandemic, Darden has championed pricing below inflation. Consumers are responding by staying put, CEO Rick Cardenas said. In the past three years, the company has underpriced...
One of the Brand’s Latest Prototypes Set Records When It Opened in January, Creating Momentum for the Decades-Old Breakfast Chain. Photo Courtesy of wolterke. Sixty-year-old Huddle House is boasting unprecedented financial figures coming out of COVID, and it’s doing so with new prototypes and nontraditional franchisee experience. A restaurant in Decatur, Illinois, opened...
Swedish Furniture Retailer To Roll Out Eight Stores, Nine Smaller Studios, 900 Pickup Locations Photo Courtesy of Pixarno. Ikea, the global retailer of furniture and household goods based in Sweden, is dramatically beefing up its brick-and-mortar presence in the United States, investing about $2.2 billion over the next three years to open eight big-box stores,...