REBusinessOnline

Darden Restaurants Reports 28.4 Percent Slide in Fiscal First-Quarter Sales

ORLANDO, FLA. — Darden Restaurants Inc. (NYSE: DRI) has reported its sales fell 28.4 percent in its fiscal first quarter, which ended Aug. 30. The Orlando-based company owns restaurant brands including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s.Darden reported that sales in its fine dining restaurants fell 38.9 percent year-over-year. Sales at Olive Garden slid 27.7 percent, while LongHorn saw a …

New Firm August Real Estate Launches Two Dallas Office Redevelopment Projects in Deep Ellum

DALLAS — August Real Estate, a Dallas-based development firm founded by brothers and industry veterans Evan and Jordan August, has launched with two redevelopment projects in the city’s historic Deep Ellum neighborhood. The first project involves the restoration of The Continental Gin Building, which was built in 1888, into a modern office complex with the feel of a boutique hotel that will feature a 22,000-square-foot coworking space from local operator Common Desk. August is also …

Nike’s Online Sales Jump 82 Percent Resulting in $10.6B in Quarterly Revenue

BEAVERTON, ORE. — Nike Inc. (NYSE: NKE), the Beaverton-based footwear giant, has reported it revenues were $10.6 billion for its 2021 fiscal first quarter, which ended Aug. 31. The revenue represents a decrease of 1 percent from the same period in 2019, with its direct sales at $3.7 billion, up 12 percent, and Nike Brand digital sales swelling by 82 percent.The digital sales growth resulted from e-commerce increases across North America, Greater China, Asia Pacific, Latin America, Europe, …

Reports: Raytheon to Cut 15,000 Jobs Due to Decline in Commercial Air Travel

WALTHAM, MASS. — Defense contractor Raytheon (NYSE: RTX) will cut approximately 15,000 jobs, primarily in its aviation departments, as a result of depressed demand for commercial air travel during the COVID-19 pandemic, according to multiple reports. The Massachusetts-based firm, which employs about 200,000 people nationwide, made the announcement during an earnings call last week, according to reports from multiple new outlets including CNN and Forbes. The company’s stock price opened at …

Corporate Property Dispositions Hires Tom Gallagher as Vice President, to Oversee Mid-Atlantic Region

ATLANTA — Corporate Property Dispositions (CPD) has hired Tom Gallagher as vice president. In the role, Gallagher will manage client requirements throughout the Mid-Atlantic region. CPD specializes in lease and sale negotiations on behalf of landlords and owners.[caption id="attachment_274127" align="alignright" width="100"] Tom Gallagher, Vice President, Corporate Property Dispositions[/caption]The company is headquartered in Atlanta, where Gallagher will be based. Prior to joining …

Dave & Buster’s Reports 85 Percent Drop in Quarterly Revenue, Flirts With Bankruptcy

DALLAS — Dave & Buster’s (NASDAQ: PLAY) reported an 85 percent drop in total revenue for the second quarter relative to that period a year ago, prompting several media organizations, including The Wall Street Journal, to report that bankruptcy filings may be imminent. Comparable store sales decreased by 87 percent during the second quarter, which saw the Dallas-based entertainment chain gradually reopen its venues. About 90 of Dave & Buster’s 137 locations are currently open for …

SitusAMC Acquires Cohen Financial’s Servicing, Asset Management Platform

NEW YORK CITY — Real estate advisory and consulting firm SitusAMC Holdings Corp. has acquired the third-party loan servicing and asset management platform of New York City-based Cohen Financial, a division of Truist. Under the terms of the deal, Cohen Financial’s clients and employees will be integrated into SitusAMC. As of August 31, Cohen’s portfolio totaled approximately 6,900 loans with more than $34 billion in unpaid principal balances. SitusAMC will now have a special servicing and …

WSJ: Ascena Retail Group to Sell Plus-Size Chain Catherines to FullBeauty Brands for $40.8M

MAHWAH, N.J. — Ascena Retail Group, the parent company of Ann Taylor and Lane Bryant, will sell its plus-size chain Catherines to FullBeauty Brands Operations LLC for $40.8 million, according to a new report from The Wall Street Journal. FullBeauty Brands is a New York City-based holding company whose brands include plus-size chains such as Woman Within, Jessica London Inc. and Swimsuits for All. Ascena Retail Group filed for Chapter 11 bankruptcy in July with plans to close an unspecified …

Papa John’s to Open New Regional Office in Metro Atlanta by Next Summer

LOUISVILLE, KY. — Papa John’s International Inc. has announced it will open a new global headquarters in metro Atlanta by summer 2021. The Louisville, Ky.-based pizza chain is in the process of picking an office space and expects to have a location finalized by the end of this year. Georgia Gov. Brian Kemp’s office says the move is expected to bring 200 jobs to the area. Papa John’s will move its menu innovation; marketing; customer experience; human resources; diversity, equity and …

Segovia Partners Launches Retail Brokerage, Consulting Firm in Dallas

DALLAS — A quartet of real estate veterans has launched Segovia Partners, a new firm that will offer advisory and brokerage services to tenants in the retail markets of Texas, Oklahoma, Arkansas and Louisiana and to landlords throughout the United States. Each member of the team of Jack Breard, Jennifer Frank, Michelle Waak and David B. Shelton has more than 20 years of experience in the industry. Frank most recently worked with Segovia Retail Partner; Breard and Shelton most recently worked …

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