The Kalibrate retail round-up: May 2023

In this monthly feature, we look across the industry and mainstream news to uncover some stories of note that we think are worth your attention.

Five Below expanding in Simon-owned centers 

We’re always excited to see our clients’ growth. Five Below is opening 10 new brick-and-mortar locations in Simon-owned shopping centers over the summer period. With plans for 200+ new stores planned per year to reach a 3,500+ location target, it looks like our team will be extra busy in the months ahead.   

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A tale of resilience: restaurant industry shines as uncertainty looms 

A great deep-dive from QSR Magazine explores how restaurant operators are bucking the downturn trends seen in some verticals. With 500,000 jobs expected to be added in 2023 and 72% of brands reporting an increase in revenue in the last six months, there’s plenty of reasons to feel positive for our clients in the space.  

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Growth and remodels plotted for grocery retailer 

California-based Chedraui USA, parent of El Super, Smart & Final, and Fiesta Mart, is planning growth and remodels in the months ahead. We’re supporting a lot of remodels for our clients now so it’s great to see more brands investing in their brick and mortar.  

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Nespresso opens new ‘experiential’ Trafford Centre store with free tastings, masterclasses, and more 

Great news for caffeine-hungry members of our Manchester office. Nespresso’s new ‘experiential boutique’ in the Trafford Centre mall complex will deliver coffee tasting, a ‘masterclass area’, and latte art workshops. Zeroing-in on an environmentally conscious customer, the store will run on 100% renewable energy.  

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Best Buy CEO: ‘2023 will be the bottom’ for falling electronics sales 

Corie Barry, CEO at Bust Buy believes the worst is behind the consumer electronics sector, predicting 2024 will see a recovery from the stumble of recent years. While analysts expect retail sales to grow 3.3% in 2023, computers and electronics will lag at 2.5%. Retailers in the space will have to be smart to outperform the sectoral slump.  

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