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Dave & Buster’s Reports 85 Percent Drop in Quarterly Revenue, Flirts With Bankruptcy

by Alex Tostado

Dallas — Dave & Buster’s (NASDAQ: PLAY) reported an 85 percent drop in total revenue for the second quarter relative to that period a year, prompting several media organizations, including The Wall Street Journal, to report that bankruptcy filings may be imminent. Comparable store sales decreased by 87 percent during the second quarter, which saw the Dallas-based entertainment chain gradually reopen its venues. About 90 of Dave & Buster’s 137 locations are currently open for business across 27 states. Multiple news outlets, including The New York Post, have also reported that Dave & …

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Company newsGeorgiaKentuckyNewsRestaurants

Papa John’s to Open New Regional Office in Metro Atlanta by Next Summer

by Alex Tostado

Louisville, Ky. — Papa John’s International Inc. has announced it will open a new global headquarters in metro Atlanta by summer 2021. The Louisville-based pizza chain is in the process of picking an office space and expects to have a location finalized by the end of this year. Georgia Gov. Brian Kemp’s office says the move is expected to bring 200 jobs to the area. Papa John’s will move its menu innovation; marketing; customer experience; human resources; diversity, equity and inclusion; communications; and development departments to Georgia. IT, supply chain …

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Company newsNew YorkNewsRetailers

Century 21 Files for Bankruptcy, to Close All 13 Department Stores

by Alex Tostado

New York City — Century 21, a New York City-based department store chain with a 60-year operating history, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The retailer will soon begin the process of ceasing operations and will close all 13 of its stores, which are located in New York, New Jersey, Pennsylvania and Florida. The decision follows nonpayment by Century 21’s insurance providers of $175 million due under policies put in place to protect against losses stemming from business …

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Company newsNewsRetailersWashington

Amazon to Hire 100,000 Workers Across U.S., Canada to Meet Continued E-Commerce Demands

by Alex Tostado

Seattle — Amazon (NASDAQ: AMZN) has announced plans to hire an additional 100,000 full- and part-time employees throughout the United States and Canada. This plan is in addition to the 33,000 new corporate and technology jobs announced last week. The roles offer a starting wage of at least $15 per hour, and in select cities, Amazon is offering sign-on bonuses up to $1,000 to new hires. The new employees will staff the 100 new operations buildings that Amazon is opening this month across its fulfillment centers, delivery stations and other …

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Company newsNew JerseyNewsPennsylvaniaRestaurants

Papa John’s to Open 49 Stores in Philadelphia, Southern New Jersey by 2028

by Alex Tostado

Louisville, Ky. — Papa John’s International (NASDAQ: PZZA) has signed a store development agreement that will allow the Louisville-based pizza chain to open 49 new stores in the Philadelphia and Southern New Jersey areas between 2021 and 2028. Franchisee HB Restaurant Group, which currently owns and operates 43 Papa John’s locations in the mid-Atlantic, will also own and operate the new stores.

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Company newsEntertainmentNew YorkNews

Peloton Reports 172 Percent Revenue Growth in Fourth Quarter as Gyms, Fitness Centers Struggle

by Alex Tostado

New York City — Peloton Interactive Inc. (NASDAQ: PTON), a provider of subscription-based home exercise equipment and routines, reported a 172 percent increase in total revenue during the fourth quarter relative to that period in 2019. With many commercial gyms still operating at reduced capacities and numerous fitness centers at office and apartment buildings still closed, Peloton saw its connected fitness subscriptions and paid digital subscriptions grow by 113 and 210 percent, respectively. The New York City-based company now has a total membership base of more than 3.1 million people. …

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Company newsGrocery-anchoredNewsOhioRetailers

Kroger’s Digital Sales Surge 127 Percent in Second Quarter

by Alex Tostado

Cincinnati — The Kroger Co. (NYSE: KR) has reported that its digital sales surged 127 percent in the second quarter, which ended Aug. 15. Consumers have been buying more groceries online as a result of the coronavirus. “Investments made to expand the company’s digital ecosystem are resonating well with customers,” says Rodney McMullen, chairman and CEO. In addition, the Cincinnati-based grocer’s operating profit of $820 million was up 43 percent compared with the same period a year ago. Total company sales were $30.5 billion in the second quarter, compared with …

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Company newsInternationalNewsRetailers

lululemon Reports Second-Quarter Online Sales Jump 157 Percent Year-Over-Year

by Alex Tostado

Vancouver — lululemon Athletica Inc. (Nasdaq: LULU) has reported online sales jumped 157 percent in the second quarter compared to Q2 2019. The Vancouver-based retailer closed stores in its North American, European and Asian Pacific portfolio in the first quarter due to the coronavirus pandemic. lululemon began reopening stores in the second quarter. As of Aug. 2, 492 of 506 company-operated stores were open. The clothing store reported in-store sales were up 3 percent year-over-year. “We’re pleased with our overall business results for the second quarter, as lululemon increasingly lives up …

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Company newsEntertainmentNew JerseyNews

AMC to Reopen All 27 New Jersey Theaters Over Next Week

by Alex Tostado

New Jersey — AMC Theatres (NYSE: AMC) will open all 27 of its theaters in New Jersey over the course of the next week, which began with the reopening of AMC Jersey Gardens 20 and AMC Wayne 14 on Friday, Sept. 4. An additional seven locations opened Monday, Sept. 7, with all remaining theaters then opening Thursday, Sept. 10. New Jersey is AMC Theatres’ sixth-largest market by screen count.

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Company newsNew YorkNewsRetailers

Former Taubman Executive Joins Odyssey Retail Advisors as Managing Partner

by Alex Tostado

New York City — Rick Strauss has been hired at Odyssey Retail Advisors as a principal managing partner of landlord advisory business, the New York City-based firm announced. Strauss spent more than 20 years as a group vice president at The Taubman Co. and executive vice president at Westfield Corp. With Odyssey, Strauss will focus on landlord advisory and consulting, including project visioning, merchandising, marketing, proformas and execution of deals. “My passion is to make shopping environments highly competitive in today’s marketplace by broadening appeal through merchandising and creating engaging …

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