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Industry News

Industry News - This week

Albertsons buys remaining Rite Aid stores

Supermarket conglomerate Albertsons Cos. will purchase the portion of Rite Aid Corp. that Walgreens Boots Alliance has not acquired, according to Reuters. Observers say the move is an example of how pharmacy retailers are consolidating operations to compete against Amazon.com and other online rivals.

Industry News - This week

Destination food replacing department stores as traffic draw

Food-and-beverage operators need to create an experience to stand out in a crowded field, restaurateur David Chang told CNBC. Chang founded the Momofuku Group, which operates 25 restaurants worldwide and is sought after by landlords that want a dining attraction at their properties. "I remember trying to find leases, and people were like: 'No — we don't want a restaurant in our building; it's going to decrease the value, because of problems with smells, or whatever,' " Chang said as he recalled the first restaurant he tried to open in 2004 in New York City. "And now everyone wants a restaurant. Restaurants now are anchor tenants in buildings."

Industry News - This week

More e-tailers opening stores as Warby Parker aims for 100 by year-end

Eyeglass chain Warby Parker, which started as an online retailer in 2010, is on track to have 100 stores open across the U.S. by year-end, from its current 64, reports CNBC.

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