Retail News: Top Stories
September 25, 2019
Top stories in retail news and the business headlines that interest us today.
Jimmy John’s Finds New Home with Inspire Brands
“Multi-concept owner Inspire Brands announced today that it has entered into an agreement to acquire Jimmy John’s Sandwiches. The financial terms of the transaction were not disclosed.
Atlanta-based Inspire owns the Arby’s, Buffalo Wild Wings, Sonic Drive-In and Rusty Taco brands which total about 8,300 locations worldwide. Jimmy John’s has more than 2,800 locations across 43 states.”
In-Store Shopping Still Popular
“Twenty-eight percent of consumers are shopping in stores more often than last year, according to new research from branded payments provider Blackhawk Network. Of the more than 3,000 adults surveyed, nearly two-thirds said they shop at retail stores just as often as last year, while only 9% reported shopping at physical stores less often.”
Holiday Spending Expected to Rise
“The holidays are a critical time for many brands: Sales during this time of year can make up 30% of a retailer’s annual revenue. Heading into the gift-giving season, shoppers are expected to spend 5% more this year than they did last year, according to the survey.”