Weekly Perl: A Commercial Real Estate News Recap
Petco thins its fleet with 25 store closings planned this year
Petco is set to close 25 stores this year, on top of the 25 it shuttered last year, as it becomes the latest retailer to trim its store fleet.
The San Diego-based company disclosed it was doing roughly two dozen closings when it reported second-quarter earnings recently. Petco's net sales of $1.5 billion decreased 2.3% compared with the prior-year period, and comparable sales dipped 1.4% year over year...
Chick-fil-A joins beverage-focused restaurant fray
Chick-fil-A is expanding way beyond sweet tea.
The Atlanta-based chicken chain said it plans to open a new beverage-focused restaurant concept, Daybright, this fall in the Atlanta area.
“Daybright is brought to you by Red Wagon Ventures LLC, which is a subsidiary of Chick-fil-A,” the chain said in a statement. “We look forward to sharing more details in the future!”...
Toys”R”Us to open 10 U.S. flagships by year-end; locations include…
Toys”R”Us is expanding its footprint at home and abroad as it gears up for the toy industry's busiest season.
The toy retailer, in partnership with Go! Retail Group, said it is planning to open 10 new flagships and 20 seasonal holiday shops in the U.S. by year's end...
Forever 21 shifts to ‘digital-first;’ seeks U.S. partner for physical stores
Teen apparel brand Forever 21 will live on in the U.S.
Authentic Brands Group announced new operating partners to drive the digital growth, wholesale expansion and kidswear innovation of Forever 21 as it transitions to a “digital-first” brand in the United States. (Earlier this year, Forever 21’s U.S. licensee, F21 OpCo, filed for bankruptcy. The Forever 21 IP is wholly owned by Authentic. )...
Office Depot parent company to be acquired in deal valued at $1 billion
Office Depot is going private.
The ODP Corp., whose portfolio includes Office Depot and OfficeMax, ODP Business Solutions and distribution logistics service provider Veyer, has entered into an agreement to be acquired by an affiliate of private equity group Atlas Holdings, which owns a global network of manufacturing and distribution businesses, for $28 per share in cash...
First major retailer reopens in Pacific Palisades after wildfires
CVS Pharmacy is the first major retailer to reopen in Pacific Palisades months after one of California’s worst wildfires on record tore through the area, destroying dozens of businesses.
The pharmacy celebrated the reopening of its location at 864 Swarthmore Ave. this week. It’s one of the first businesses to return since the wildfires destroyed nearly 5,500 single-family homes and dozens of apartment buildings, stores and offices...
Save A Lot spends summer reopening 27 stores
Save A Lot, based in St. Ann, Mo., has resumed operations under its brand name in 27 stores across Indiana, Ohio and Pennsylvania. The move follows a rebranding effort in 2024 that the company stated was improperly executed.
The company said it has worked to bring these locations in line with its operational and financial standards. The stores have resumed offering a range of food and household items, including private label and national brand products...
Starbucks Announces More Layoffs and Store Closures as Comeback Plan Continues
The next step in Starbucks comeback plan? Closures and more layoffs.
The coffee giant announced Thursday that it is eliminating 900 corporate roles and closing many open positions. This comes after cutting 1,100 corporate positions earlier in 2025. These layoffs do not impact in-store employees...
Retail seasonal hiring to fall to lowest level since 2009
Retailers may be doing more than less this holiday when it comes to staffing stores and other facilities for the seasonal rush.
Seasonal hiring announcements by retailers remain muted as the industry gears up for the holidays, according to Challenger, Gray & Christmas’ “2025 Seasonal Hiring Report..."
When it comes to securing more space, retailers keep their foot on the gas
Retailers are navigating a complex landscape marked by rising costs from elevated tariffs as increasingly cautious consumers pull back on spending. However, retailers also keep leasing space at a torrid pace, underscoring the strategic importance of securing desired locations in a supply-constrained environment...
