business news in context, analysis with attitude

•  Ottawa-based Intouch Insight is out with its annual Convenience Store Trends Report, concluding that "convenience does not trump brand loyalty for today’s consumers. For example, when it comes to their cup of joe, 70% of shoppers would seek out their favorite brand over the most convenient cup."

“In a world where channel blurring is forcing c-stores to compete with other verticals such as grocery or quick-service restaurants (QSR), leaders need to go beyond being the most convenient option to being one that also offers top quality products, speedy and accurate service, and a variety of shopping methods,” said Cameron Watt, president/CEO at Intouch Insight.

•  The Wall Street Journal reports on the apparent suicide of Gustavo Arnal - a former Avon and Procter & Gamble executive who joined Bed Bath & Beyond in 2020.

Arnal, the story says, "just days after he had briefed investors on the company’s restructuring efforts and closed a financing deal that gave the company about $500 million in cash. As part of the restructuring, the company said last week two more senior executives - its chief operating officer and its chief stores officer - were leaving … Those departures follow a management shake-up that started June 29 when Chief Executive Mark Tritton and Chief Merchandising Officer Joe Hartsig left the home-goods seller after it reported plunging sales and deep losses. The following day the company said its chief accounting officer, John Barresi, who reported to Mr. Arnal, had resigned.

"Mr. Arnal was one of the few senior executives to stay in his role during a time of tumult for the company and several members of his finance team have either left or recently been promoted into their roles. This new team now faces the task of completing the accounting for the company’s results and work to reassure vendors and lenders about its operations."