REAL ESTATE

Total Wine & More to open 96th superstore

BY Michael Fickes

Olympia, Wash. — Total Wine & More will open its 96th wine and spirits superstore in Olympia, Wash., on July 18. With over 21,000 sq. ft., the store will offer more than 8,000 wines, 3,000 spirits and 2,500 beers.

The store also houses iPad stations stocked with tasting notes and food pairings, flat screen televisions running programs about winemakers, distillers and brewers and a walk-in humidor. In addition, a classroom provides space for tastings, classes and community meetings.

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REAL ESTATE

Smoothie King plans 1,000 new stores by 2018

BY Michael Fickes

New Orleans — Smoothie King Franchises is targeting the Jacksonville, Fla., metro area to kick off a major expansion calling for 1,000 new franchised and corporate locations over the next five years.

With seven stores in Jacksonville, the company plans to add 10 new locations there over the next three years.

To fuel the national expansion drive, Smoothie King is offering candidates 40% off of its initial franchise fee for the first 40 agreements of 2013 — a savings of $10,000.

In addition, more than 50 existing franchisees have committed to opening additional units across the country this year.

With more than 500 current locations in the U.S., the company sees expansion potential in Southeast, Mid-Atlantic and Northeast states as well as Texas.

Internationally, Smoothie King is planning 50 new stores in South Korea and 10 in Singapore for 2013.

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OPERATIONS

Barnes & Noble CEO resigns amid management shuffle

BY Marianne Wilson

New York — Barnes & Noble CEO William Lynch has resigned, effective immediately. The company said it has appointed Michael P. Huseby as CEO of Nook Media and president of Barnes & Noble. He had served as the company’s CFO since 2012.

Lynch, a technology veteran, took the reins of Barnes & Noble in 2010, and was a driving force in the chain’s transition into digital and the expansion of its Nook line of tablets. No reason was given for his departure.

“I appreciate the opportunity to serve as CEO of this terrific company over the last three years,” Lynch said in the release. “There is a great executive team and board in place at Barnes & Noble, and I look forward to the many innovations the Company will be bringing to its millions of physical and digital media customers in the future.”

The changes comes after Barnes & Noble reported declining sales at its bookstores in the latest quarter and its Nook e-book devices pushed it to a net loss that more than doubled from a year ago.

In other changes, Allen Lindstrom, VP and the company’s corporate controller, has been promoted to CFO.

Max J. Roberts, CEO of Barnes & Noble College will continue to lead the digital education strategy and report to Huseby, as will the executive management team of NOOK Media. Huseby and Mitchell Klipper, CEO of the Barnes & Noble Retail Group, will report directly to Leonard Riggio, executive chairman of Barnes & Noble.

In a statement, Riggio said that the company is reviewing its current strategic plan and will provide an update when appropriate.

"As the bookselling industry continues to undergo significant transformation, we believe that Michael, Mitchell and Max are the right executives to lead us into the future," Riggio said.

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