business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  Business Insider reports that "the discount grocery chain Lidl is opening 50 new stores in nine states by the end of 2021, the company said Tuesday.

"The stores, which will bring Lidl's US footprint up to about 150 locations, will be located in Delaware, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, and Virginia.

"Lidl plans to invest more than $500 million into the new stores and hire about 2,000 people. Lidl will also close two stores in Havelock and Shelby, North Carolina.

"The German-based chain slowed its initial store growth plans after entering the US two year ago. The company had originally planned to open 100 stores in the US by mid-2018, and ultimately reached that goal in 2020."

•  From the Wall Street Journal:

"McDonald’s Corp. said its continuing investigation into former CEO Steve Easterbrook’s conduct is examining whether he covered up improprieties by other employees alongside allegations of potential misconduct within the human-resources department.

"McDonald’s filed suit against the former CEO following a tip that board chairman Rick Hernandez received last month about an alleged sexual relationship between Mr. Easterbrook and an employee. That tip also raised concerns about the HR department and possible improprieties by other employees, McDonald’s executives said. The company declined to provide details on allegations that it said involved the HR department."

Sounds to me like someone has to get into McDonald's organizational structure and grab a bucket and mop, scrub the bottom and top … 

•  Fox News reports that "Nordstrom reported a bigger-than-expected loss on Tuesday, as the COVID-19 pandemic shut its stores for about half of the reported quarter and consumers stayed home with little need for designer clothes."

Nordstrom said it had a Q2 net loss of $255 million, compared with a profit of $141 million a year earlier.  Total revenue fell 52% to $1.86 billion.

Even online sales were off in the quarter - down five percent, in part because "the retailer moved its popular Anniversary Sale from the second to the third quarter."