News

Insider Retail: Ruby Tuesday files for bankruptcy, alt-protein startups are booming, and the holiday shopping season is here earlier than ever


McCafé Bakery Lineup

Summary List Placement

Hello and happy Friday!

I’m happy to bring you another week of Insider Retail, Business Insider’s weekly round-up of everything that’s happening in restaurants and retail. If you haven’t already subscribed, click here to get me, Shoshy Ciment, and my colleague, Kate Taylor, in your inbox every Friday. 

By the way, Kellogg and Insider are hosting an event next week that will explore the impact of COVID-19 and climate change on world hunger. To sign up for the Tuesday event and to hear more about the fight to end global hunger, click here.

Alright, onto the news:

Ruby Tuesday files for bankruptcy

Ruby Tuesday filed for bankruptcy on Wednesday. The casual dining chain had already been on a downward spiral during the pandemic, closing dozens of restaurants in 2020.

The chain now joins a rapidly growing list of casual dining places to file for bankruptcy amid the pandemic, which includes Sizzler and California Pizza Kitchen.

Meanwhile, other stores appear to be on the upswing. Ikea, Aldi, and Tractor Supply are some of the retailers that plan to open dozens of new locations this year.

Meet the alt-protein upstarts that are breaking into the nearly $1 billion market

This week, Alex looked into seven startups that are disrupting the alternative protein market. 

While companies like Beyond Meat and Impossible have popularized the food trend, a slew of smaller companies are also catching the eyes of investors that include the likes of Paris Hilton and Lux Capital.

about these up-and-coming alt-protein startups here.

Speaking of fake meat, Alex also spoke to Beyond Meat’s CMO about why the plant-based meat maker is pushing into breakfast foods with its new sausage links.

A holiday shopping season like no other

It looks like Christmas — as well as everything else — is coming early this year.

Amazon moved its Prime Day to October, a few months later than it’s usual mid-July event. In response to this move, other major retailers including Target and Walmart have moved their large sales events to happen on or around Prime Day. 

According to an analysis by Áine, the phenomenon is another example of the intense sway Amazon holds over the retail calendar.

At the same time, other retailers like Ulta, Kroger, and Guess are offering deals for 10.10, a shopping festival that is meant to entice shoppers to buy holiday gifts earlier than usual. 

What else is new?

As if this year’s sneaker collabs weren’t weird enough, Cole Haan is dropping a limited-edition Slack-themed collection.
McDonald’s is adding three new pastries to its national menu: an apple fritter, a blueberry muffin, and a cinnamon roll.
McDonald’s also teamed up with reggaeton star J Balvin in yet another celebrity collaboration.
Teens love Shein and Chick-fil-A.

How Starbucks is getting people to vote.

Peloton is

Source:: Business Insider

      

(Visited 5 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *