1. Mexican makeover
US fast-food chain Taco Bell has refreshed its logo for the first time in 25 years and opened a flagship store on the Las Vegas Strip. It’s not just a burrito joint though: the two-storey restaurant serves alcoholic slushies, uses digital menu boards and has space for DJ entertainment. It even has a retail store that sells beach towels and bikinis. The new "Cantina" format represents the company’s evolution and growth plan to become a US$15bn brand by 2022 while adding 2,000 restaurants globally and 100,000 jobs in the US. Taco Bell is a subsidiary of Yum! Brands, which owns KFC.
2. Turnaround flop
American Apparel has filed its second bankruptcy in just over a year. The beleaguered retail chain failed to make a comeback as mounting debt, legal woes and increased competition from online retailers weighed on growth. The brand, best known for its provocative advertising and "made in America" heritage will sell its intellectual property assets and inventory to Canadian clothing manufacturer Gildan Activewear.
3. No giddy-up
Same-store sales and profits fell at US luxury retailer Ralph Lauren in the quarter ended October 1. This was mostly as a result of turnaround efforts and softer sales in North America. Along with job cuts and store closures, the brand is refocusing on its core labels. Ralph Lauren reported a profit of $45m, down from $160m a year earlier.
4. Carrefour in hot water
The French government is suing the world’s second-largest retailer, Carrefour. This comes after an investigation revealed that the company was unfairly squeezing its suppliers to lower prices.