retail news in context, analysis with attitude

• The Los Angeles Times reports that Canada-based Alimentation Couche-Tard is acquiring as many as 322 California locations from ExxonMobil for its Circle K chain. Terms of the deal were not disclosed, and the sales is expected to close “in stages” starting in the fourth quarter of this year.

Reuters reports that “Perkins & Marie Callender's Inc, owner of the Perkins and Marie Callender's restaurant chains, filed for bankruptcy in a Delaware court on Monday, citing a slump in sales due to weak economic environment in its primary markets.

• The New York Times reports that “the VF Corporation agreed on Monday to buy the Timberland Company, the boot maker, for about $2 billion in cash, paying a big premium in an effort to bolster its outdoor clothing offerings. VF, which already owns lines like Wrangler and 7 for All Mankind, will add Timberland to a stable of outdoor brands like the North Face and Eastpak.”
KC's View:
Everything I hear these days suggests that we’re going to be seeing a lot more of these stories in coming days - mergers, acquisitions and bankruptcies. These are unsettling times, with the kind of tectonic changes that Michael talks about in “Sansolo Speaks” this morning. The winners, I suspect, will be the ones who sense the changes coming and move in advance of the quakes.