FINANCE

Tops Friendly Markets returns to local ownership

BY Marianne Wilson

Williamsville, N.Y. — Tops Friendly Markets, a leading full-service grocery retailer in upstate New York, Northern Pennsylvania, and Western Vermont, announced that the previously announced acquisition of Tops Holding II by a group of senior managers of the company led by Tops president and CEO, Frank Curci, closed on Dec. 1.

"The management team at Tops truly has a passion for the business and dedication to the core values of the organization, and has led the company’s tremendous growth over the past six years," Curci said. "This transaction represents the next step in the natural evolution of Tops that began six years ago when we returned operations and decision making to our local markets. Now with local ownership as well, we will be able to build on our successes of the recent past, deepen our commitment to the markets we serve, and further expand to better serve our associates and customers."

The senior managers in the acquisition group consists of Curci; Kevin Darrington, COO; Rick Mills, CFO; John Persons, senior VP of operations; Jack Barrett, senior VP of human resources; and Lynne Burgess, senior VP and general counsel.

Financial terms of the transaction have not been disclosed.

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MARKETING/SOCIAL MEDIA

Experian: Hispanics shop more online and are more responsive to mobile advertising

BY Staff Writer

New York — Hispanic adults are more frequently visiting retailer websites than the average online population, according to Experian Marketing Services.

During a 24-week period, from June 2013 through November 2013, Hispanics’ market share of visits to Experian Marketing Services’ Hitwise Retail 500 Websites was 21% higher on average than the online population. Further, the analysis found that this market share widened in October 2013 and continued to increase through November.

"Our analysis indicates that Hispanic adults are shopping online more frequently than the online population and that they are shopping earlier in the season this year," said Heather Dougherty, research director at Experian Marketing Services. "Those websites most frequently visited by Hispanic shoppers mirror the online population, with Amazon.com, Walmart.com and Target.com leading overall.”

Experian also found smartphones are clearly a key shopping tool for Hispanic consumers, with 54% of Hispanic smartphone owners visiting shopping sites from their mobile browser during a typical month and spending more time browsing those sites than non-Hispanic smartphone owners.

Hispanic adults are visiting department store mobile Websites more frequently than non-Hispanics. In the past 30 days, Macys.com leads this trend as the most overindexing shopping site visited by Hispanic smartphone owners from their mobile phone.

Hispanic adults who own smartphones are twice as likely as non-Hispanics to say that they are interested in receiving advertisements on their phone and 58% more likely to purchase products they see advertised on their phone. Hispanic adults who own smartphones are 13% more likely than non-Hispanics to say that they often use their mobile phone while shopping to find local deals.

"Hispanic consumers embrace the concept of the ‘always-on’ consumer," said Heather Dougherty, research director at Experian Marketing Services. "There is a significant opportunity for retailers and marketers to reach Hispanic shoppers as they shop and to drive engagement, even purchases, on their mobile device."

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REAL ESTATE

Krispy Kreme signs deal for 10 locations in Houston

BY Marianne Wilson

Winston-Salem, N.C. — Krispy Kreme has signed a development agreement with Dulce Restaurants, LLC, to develop 10 new Krispy Kreme shops in Houston over the next five years.

Dulce Restaurants, LLC, a subsidiary of Dallas-based Sun Holdings, LLC, currently operates three Krispy Kreme locations in Dallas, and has plans to open an additional 15 Dallas shops through 2018.

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