Food Business News
Arby’s has completed its $2.9 billion acquisition of Buffalo Wild Wings, Inc., a merger that will launch a multi-brand restaurant company called Inspire Brands. Inspire was founded by Paul Brown, chief executive officer of Arby’s, and Neal K. Aronson, managing partner of Roark Capital Group. Inspire will oversee the Arby’s, Buffalo Wild Wings and R Taco brands while building a platform for future strategic additions.
Chain Store Age
Macy’s will no longer participate in the Plenti program — an online marketplace that features deals from its retail partners. The department store chain didn’t share specifics on why it was leaving the program, which it joined in 2015. But a big factor could be its focus on the relaunch of its revamped loyalty program, Macy’s Star Rewards, which functions as a tiered rewards system that gives its very best shoppers perks.
The New York Times
Consider the Lady Dorito. The internet did, for a couple of days, after a podcast interview with the chief executive of PepsiCo went sideways. The company had to clarify that, no, it was not going to create Doritos for women with reduced crunch and less orange finger dust. This media hysteria began, as it often does, with an apparently off-the-cuff quote, in this case from an interview with Indra Nooyi, chief executive of PepsiCo.
Wall Street Journal
The internet won’t kill stores, according to Victoria’s Secret Chief Executive Officer Leslie Wexner. Moreover, the fascination with smartphones will fade. “We’re in the process of bouncing back from that,” he says. “I don’t think this is a new norm.” People crave social interaction and will seek it at places like malls. “There are times when that gets interrupted, but people want to be with other people,” he adds.
Wall Street Journal
Apple Music is on the verge of overtaking Spotify AB in U.S. paid subscribers, a sign that the music-streaming world’s dominant force is facing growing competition ahead of its hotly anticipated public stock offering. Apple Inc.’s streaming-music service, introduced in June 2015, has been adding subscribers in the U.S. more rapidly than its older Swedish rival—a monthly growth rate of 5% versus 2%.
SFGate
Airbnb has released a new ad titled, "Expletive-filled Interest," promoting Airbnb's business in Haiti, El Salvador and Africa, likely a jab at President Trump's "shithole countries" controversy. The San Francisco-based home-sharing company released the ad just before Trump's State of the Union Address on Tuesday. The ad begins with text reading, "We heard there's been some expletive-filled interest in these beautiful destinations."
The New York Times
Bell Pottinger, Britain’s most audacious public relations firm, always seemed defiantly beyond shame. During its 30 years in the upper echelons of Britain’s spin doctoring game, it sought to polish the image of dictators, repressive regimes and celebrities accused of despicable crimes (the Olympic runner Oscar Pistorius after he was charged with murder). But in 2016, Bell Pottinger signed a client that ultimately buried it in disgrace.
CNBC
Apple users have been reporting an issue with their $1,000 iPhone X models that is stopping them from answering calls. One user described how when they received an incoming call on the iPhone X, the ringtone began playing but the display did not turn on until after six-to-eight seconds. The user said that the problem gets solved temporarily when they restart the phone, but then comes back after about 15 to 20 calls.
CNBC
CEO Laurent Potdevin is resigning from the retailer, effective immediately, the company
announced Monday. Lululemon said Potdevin "fell short of ... standards of conduct" to respect employees and show integrity. Meanwhile, the company's board of directors has started searching for a new global CEO. Potdevin will also be removed from his position on the board.
USA Today
Alexa lost her voice but won the day in a funny, cameo-filled ad for Amazon’s Echo device. Ad Meter, presented by Kia and sponsored by Sprint, is a ranking of Super Bowl commercials based on consumer votes. The winning ad opens when Alexa gets a common question: What’s the weather? Amazon’s virtual assistant answers in her familiar, soothing voice, “In Austin, it’s 60 degrees with a chance ...” and then she coughs and conks out.