Triarc Companies Inc., the franchisor of the Arby’s restaurant system, and Wendy’s International Inc. have signed a definitive merger agreement, which has been approved by the boards of directors of both companies. The combined quick-service restaurant brands will have about 10,000 restaurants and annual system sales of about $12.5 billion, positioning it as the nation’s third largest quick service restaurant company.
One in five consumers is likely to buy a vehicle through the Internet, a dramatic increase from the 2 percent who said they were likely to do so during 2001. “Cars Online 07/08,” Capgemini’s ninth annual automotive study, explores trends within the retail side of the automotive industry, focusing on consumer buying behavior, environmental issues, Web usage, lead management and customer loyalty.
Tween Brands plans to convert about 560 Limited Too stores to its higher value-oriented Justice brand, according to the International Council of Shopping Centers. Both stores sell fashion basics to the 7- to 14-year-old girl demographic. The conversion is expected to be complete by the end of the first quarter of 2009.
Studio 182 has gotten a makeover of its own after 10 years. The hair design and skin care salon now has a new name — Lotus Salon and Spa. Owners Melissa Jamison, Kim Nuss and Danielle Morrison kept the same people but moved to the top level of the Country Club Corners campus at Highway 115 and E. Cheyenne Mountain Blvd.
Stores magazine has released its list of the The Favorite 50 online retailers, providing the industry with an idea of the hot spots on the Web where consumers love to shop. According to the survey, conducted by BIGresearch, customers rank e-tail giant Amazon.com as their favorite online retail company. eBay.com, typically considered a non-traditional retailer, came in second.
Retailers beware: Consumers are spending a considerable amount of time researching products before they buy. Shoppers search both online and off-line for product information, buying guides, opinions and reviews of products before completing their purchases at local stores, according to a study by Krillion and the e-tailing group. The study shows that the majority (67 percent) of today’s Web-savvy shoppers spend more than 30 percent of their total shopping time researching products on the Web.
Spending for college merchandise will be lower this year. The National Retail Federation’s annual survey of college spending shows an expected drop of 7 percent this year, from an average of $641.56 per person last year to $599.38. Total back to college spending is expected to reach $31.2 billion.
Shop.org’s CyberMonday.com Web site raised more than $300,000 for the Ray M. Greenly Scholarship Fund. The scholarship fund was established furing January 2006 to provide financial support to students pursuing careers in e-commerce and commemorates the life of Ray Greenly, an online retail industry veteran who died during 2005.
Software piracy affects the Colorado economy, eliminates local jobs and damages local industries. During 2003, piracy cost the Colorado economy more than 2,100 jobs, more than $122 million in wages and salaries, more than $178 million in retail sales of business software applications and about $29 million in taxes. During 2006, the U.S. software industry lost $7.3 billion as a result of software piracy, an increase of $400 million compared to the previous year.
Hunter-Wolff Gallery will relocate March 1 to a larger space at 2510 W. Colorado Ave. The gallery is one block east of its current location, which opened during October 2005. More than double the size of the previous location, the new gallery will accommodate the addition of several new artists who will be announced during the grand re-opening from 5 p.m. to 8 p.m. April 19.
With full-strength beer seemingly “on every corner” thanks to new state liquor laws, some Pikes Peak-area retailers are feeling the squeeze more than others. “The meat department, the produce department, the bakery — it’s everywhere, in front of everybody,” said Jack Bachman, owner of Cheers Liquor Mart on Circle Drive. “The Safeway behind me [at […]
Most pet owners consider their furry friends to be part of the family and, increasingly, they’re feeding them like family. In a 2016 report titled “The Humanization of Pet Food,” data company Nielsen stated that 95 percent of pet owners treat their pets like family members, up 7 points from 2007. That correlates with the […]