business news in context, analysis with attitude

...with brief, occasional, italicized and sometimes gratuitous commentary…

• The Central Pennsylvania Business Journal reports that when Weis Markets spent $65 million last year "to acquire stores from rival chains last year, including 38 former Food Lion stores and five Mars Super Market locations in greater Baltimore," it was a decision that powered the company to "its strongest year ever in 2016, topping $3 billion in sales for the first time in the chain's history. The new additions appear poised to fuel continued growth, collectively generating more than $120 million in sales for the first quarter of 2017."

The conclusion: "It takes money to make money."

Hardly a new sentiment, but I think it is important to note that Weis is taking the steps it needs to take to shore up its competitive position and even seek out new growth opportunities at a time when it could come under real attack from a newly aggressive Aldi and a new entrant, Lidl ... not to mention all the other competition from the likes of Walmart and Amazon.

CNN reports that McDonald's plans to hire 250,000 part-time employees to work in its fast food restaurants this summer - and, "to get the word out, the company is turning to Snapchat ... Starting Tuesday, the company will roll out a series of 10-second Snapchat ads that show McDonald's workers talking about why they like the gig. Viewers can swipe up to go straight to the company's careers website, where they can apply for jobs at local restaurants."

USA Today reports that "Children's clothing chain Gymboree has filed for bankruptcy protection, aiming to slash its debts and close hundreds of stores amid crushing pressure on retailers.

"Gymboree said it plans to remain in business but will close 375 to 450 of its 1,281 stores in filing for a Chapter 11 bankruptcy reorganization ... The bankruptcy was widely expected after Gymboree refused to pay some of its bills in recent months, placing the retailer on a collision course with creditors. The retailer said in its filing late Sunday that it hopes to slash $1 billion of its $1.4 billion in debt and to win approval for its plan by Sept. 24."
KC's View: