Earnings wrap: Tractor Supply, Noranda

Retailer sticks to guidance despite Q1 shortfall; aluminum maker plants back up to normal production levels
Apr 24, 2014 7:17 AM

Party Fowl, Union Common prep for openings

The team behind 360 Bistro will soon join multiple other new businesses locating within the southeastern section of The Gulch, with the group to open a bar and restaurant specializing in Southern fried chicken and Nashville-style hot chicken.

Party Fowl is expected to open in August in a building located at 719 Eighth Ave. S., at the northwest corner of the intersection of Eighth Avenue South and Division Street. (Read more here.)

And just west of The Gulch in Midtown, Union Common steakhouse will soon open in a H.G. Hill Realty Co.-owned building that was formerly home to The Great Escape and is being significantly retrofitted (see image below). Former Nashville chef Bobby Benjamin will be at the helm for the 125-seat restaurant (an image of the interior is seen below), which is owned by Louisville-based DC Management. (Read more here.)

 

 

Apr 24, 2014 7:00 AM

Dollar General backing former champ at Indy 500

Dollar General on Wednesday said it will sponsor the Schmidt Peterson Motorsports entry for this year's Indianapolis 500 that will be driven by 1995 winner Jacques Villeneuve. Goodlettsville-based Dollar General has in recent years also backed the NASCAR efforts of Villeneuve, who also won the Formula 1 World Championship in 1997.

Apr 23, 2014 12:12 PM

Cracker Barrel investors again deny Biglari push

Special vote on possible sale in line with past tallies
Apr 23, 2014 11:57 AM

Stoney River brings on service manager

Stoney River Legendary Steaks has named Rachel Boling to be its manager of service and hospitality. She joins the 10-unit concept — now run as part of the J. Alexander's organization — after four years with Lettuce Entertain You Enterprises, where she was most recently general manager of Paris Club Bistro in Chicago. She also is a former service manager of a J. Alexander’s restaurant in Atlanta. In her new post, Boling will be responsible for all service operations, training and hospitality.

Apr 23, 2014 6:57 AM

Kirkland's HQ headed to Maryland Farms

Retailer taking twice the space it now has at Two Rivers
Apr 21, 2014 2:16 PM

Nashville's per-gallon gas price average increases 2 cents

The average per-gallon price of regular gas in Nashville on Sunday was $3.52, up two cents from the mark of a week ago and up 23 cents from the $3.29 figure from four weeks ago, according to AAA The Auto Club Group.

Relatedly, Tennessee’s average price was $3.50 Sunday, up two cents compared to the $3.48 figure from the previous week.

By contrast, the national average for gasoline ($3.67) inched up three cents during the past week.

Gas prices are beginning to stabilize after going on a streak of more than 20 days of increases, AAA reported. Weekly gains were also much smaller during the past week compared to marks from the previous weeks.

"During the past week, gas price increases slowed until they finally stopped over the weekend," Mark Jenkins, spokesman for The Auto Club Group, said in a release. "It is too soon to know whether we have seen the peak price for the season, but this is a good sign that relief is on the way for motorists at the pump."

Gas prices typically peak in the spring, according to AAA. During the last three years, prices peaked in February 2013, April 2012 and May 2011. Summer gas prices become more volatile, greatly influenced by demand, geopolitical tension and natural disasters, AAA reported.  

Typical spring fundamentals and geopolitical conflict will strongly dictate how prices move in the coming weeks, AAA said. Refineries in the Gulf of Mexico that reduced output during maintenance season are returning to full operation. However, any unexpected setbacks could cause prices to rise.

Meanwhile, tensions between Russia and the Ukraine continues to place upward pressure on the price of oil, according to AAA. There are concerns that sanctions imposed by Western countries might impact exports from Russia, which would also cause oil prices to spike.

For comparison with Tennessee’s average of $3.50, Florida's average of $3.76 rose four cents from last week’s mark, while Georgia’s average of $3.65 increased seven cents.

 

Apr 21, 2014 11:53 AM

How casual dining can get its groove back

Restaurant industry consultant Nancy Kruse has some good thoughts on how casual-dining brands can better hold their own in a restaurant arena that increasingly prizes fast-casual concepts as well as more authentic and artisanal experiences. Kruse says chains can be forgiven for feeling like they're "being nibbled to death by ducks" but there is a way out.

They have leverageable assets of location and market presence, not to mention strategic competitive advantages in areas like the dinner daypart, bar business and culinary innovation. But while the old chain model prized sameness, the new model rewards a localized, personalized approach. This means that they should all step away from the flatbread and take a look at what they can learn from the upstart competitors. Their new formula can’t look formulaic, and success may require a wrenching but necessary reengineering of the brand to bring it in tune with the zeitgeist.

Apr 21, 2014 6:41 AM

Chem-Dry inks India deal

Chem-Dry executives have signed a master franchise agreement with an Indian entrepreneur based in the southeastern city of Chennai as it looks to gain a foothold in the world's second-most populous country. The company also is working to hook up with regional franchisees across the country.

Apr 18, 2014 11:11 AM

Five area Michaels stores affected by data breach

Arts and crafts retailer Michaels said Thursday that about 3 million customer credit cards have been affected by breaches of some of its payment processing systems that started last May. To see the five Nashville-area stores affected, go to page 37 of this document.

Apr 18, 2014 9:57 AM