News

Fairway Market renews, expands optimization software deal with Revionics

BY Staff Writer

Austin, Texas — Revionics, a global provider of end-to-end merchandise optimization solutions, announced that Fairway Group Holdings Corp., parent company of Fairway Market, will renew its Revionics price optimization license for three years and expand the agreement to include the use of the company’s promotion optimization.

Fairway Market, which has doubled in size over the past three years, chose the price optimization over two years ago due to its strong capabilities and its ability to help them manage and optimize rapid growth across all product categories, including key value items (KVIs).

Fairway Market adopted Revionics solution to better serve customers, improve individual store profitability and more effectively price perishable products. With the deployment of the promotion optimization tool, Fairway Markets will be able to better manage promotion performance, forecast the results of various promotional scenarios and deliver the most compelling offers to their shoppers.

“We joined forces with Revionics to support our goals for properly defined category roles, automated price maintenance and price optimization at the individual store level. So far we have been pleased with our progress and the results in those areas,” said Kevin McDonnell, Fairway Market’s co-president and COO. “We look forward to Revionics’ expanded support of our objectives as we fine tune our promotional strategies.”

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REAL ESTATE

Ross Dress for Less to open store in Utah

BY Staff Writer

Dublin, Calif. — Ross Dress for Less (“Ross”) will open a new store in Utah on July 19, in The Shoppes at Lake Park in West Valley City. This increases the number of stores in the state to 16 locations.

The opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations for the year.

Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.

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FINANCE

Red Robin completes acquisition of 32 franchised restaurants in United States, Canada

BY Marianne Wilson

Greenwood Village, Colorado — Red Robin Gourmet Burger announced it has completed the acquisition of 32 Red Robin franchised restaurants in the United States and Canada, for approximately $40 million from Mach Robin, LLC and Mach Robin, LLC’s Canadian affiliate.

“This acquisition is a significant step in support of our expansion strategy,” said Steve Carley, Red Robin Gourmet Burgers, Inc. chief executive officer. “Our plan is to employ the same strategic approach to enhance the acquired operations that we utilized so successfully across our corporate-owned restaurants.”

The 14 U.S. restaurants are located in Illinois, Idaho, Nevada, New Mexico, and Utah. The 18 Canadian restaurants are located in the provinces of British Columbia and Alberta. The company plans to maintain the Canadian office in Vancouver, British Columbia.

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