Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Placer Bytes: Nike, Tuesday Morning and Darden Restaurants

by 
Ethan Chernofsky
 on 
June 22, 2020
Placer Bytes: Nike, Tuesday Morning and Darden Restaurants

In this Placer Bytes, we dive into the recovery for two particularly interesting brands, Nike and Tuesday Morning. Then we break down four Darden restaurant chains to analyze their post-pandemic trajectories. 

Can Nike Regain Form?

Nike is a critical retail trendsetter. One of the most important narratives that had been driving retail in late 2019 was the rise of product and DTC brands expanding their owned offline presence, and no brand exemplified this trend better than Nike. Online and offline were looking to focus their efforts on owned channels, and the results were impressive. In January and February of 2020, visits to stores were up 8.0% and 20.5% respectively, though February did get a boost from pre-pandemic surges. COVID-19 then obliterated Nike traffic, reducing it to none by April. 

Yet, doubters should proceed at their own risk. In the week since reopening in early May, visits have rallied incredibly quickly. By the first week of June, visits to Nike locations were down just 52.0% year over year even though key states like New York, New Jersey, and California were still closed. And the pace isn’t slowing down. Looking at visits on Saturday, June 6th, saw a 33.0% increase on the Saturday that preceded it. Should similar leaps be triggered by reopenings in key states, the recovery could be surprisingly quick.

Bankruptcy, But….

Tuesday Morning is in the midst of bankruptcy proceedings and will be closing more than 130 stores, but is there a silver lining? While the pandemic had a huge effect on several sectors, one that has been riding a period of strength is the wider home improvement and home goods sector. In fact, the overall category was up 20.1% year over year, the week of May 25th, though this was buoyed by impressive performances from Home Depot and Lowe’s, among others.  Tuesday Morning not only occupies a significant place within this community but also aims for high value, something of particular importance during a period of economic uncertainty.

And visitors do seem to be responding to the value offering. Visits, while still down year over year, were just 6.2% down the week of June 1st. So, while there are clearly issues for the company to overcome, it could be situated for a rebound considering its value offering and the sharp uptick the wider segment is enjoying. 

Darden Restaurants

If you would’ve asked pre-pandemic which sector would be hit the hardest, one of the obvious places to point would have been sit-down restaurant chains. Fast food is cheaper and more value-focused, delivery is less built into their process and a pandemic recovery is not well-oriented for people to sit in a restaurant. Yet, four Darden restaurant chains do appear to be bucking the expected trend. Interestingly, they all have some form of takeaway or delivery mechanism to help during the restrictions as well.

Olive Garden moved to year-over-year declines of under 50% by the week of June 1st, while Longhorn Steakhouse and Cheddar’s saw declines of just 36.1% and 38.2% respectively. Regional distribution clearly has an impact here, so Capital Grille gets hit harder because of its orientation towards cities while Olive Garden benefits from a wider dispersion, and Longhorn steakhouse benefits from a larger number of its restaurants sitting in already reopened states. So, while this does not mean all is rosy for restaurants just yet, it does speak to a strength that many, including me, underestimated.

Will Nike’s offline dominance continue as states reopen? Will Tuesday Morning's post-bankruptcy situation turn out far better than many expected? Can Darden restaurants continue to impress post-pandemic?

Visit Placer.ai to find out.

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
How Will Primark’s US Expansion Impact Target?
All Eyes on Eyewear
Northwestern U.S. Grocery Dive
Return of the Lunch: Salad Chains Are Thriving
Retail Media Networks – Off the Beaten Track
Bet Your Bottom Dollar: Discount and Dollar Stores Drive Foot Traffic
Ulta & Lululemon: Discretionary Spending On The Up
The Score After Q1: Sporting Goods Chains
Who Uses NYC Airports: Biting Into The Big Apple’s Main Transport Hubs
Off Price: Strength in The Face of Retail Challenges
Visits Improve for Home Improvement
Walmart, Target & Wholesalers in Q1 2023 – The Return of Mission-Driven Shopping?
Department Store Roundup: Q1 2023
Placer.ai Office Index: April 2023 Recap
Placer.ai Mall Index, April 2023 – A Rebound on the Horizon?
How Will Bed Bath & Beyond’s Bankruptcy Impact the Retail Space?
Buffet Restaurants: Filling Up on Foot Traffic
Thrift Stores: Vintage Visits Drive New Age in Apparel
The Windy City: A Hub of Post-Pandemic Opportunity
Diving into Dining Traffic - Q1 2023
Bring On The Joe
A Dollar (or more) For Your Thoughts: Five Below and pOpshelf
Dining Out With The Cheesecake Factory
Retail Foot Traffic Recap – March 2023
Digging Into 2023: McDonald’s and Chipotle Update
Placer.ai Office Index: March 2023 Recap
How Did Key Retail Categories Perform in Q1 2023?
Northeastern USA Grocery Dive
Movie Theaters Storylines for 2023
Ollie's Bargain Outlet: Discounters are Evolving
Leveraging Brick-and-Mortar Retail in 2023
America’s Evolving Work Patterns: A Deep-Dive into New York and Chicago
Placer.ai Mall Index March 2023
Tuning Into Record Stores
Five Franchises To Watch in 2023
What’s Next For Domestic Tourism?
It’s Showtime! Movie Theaters in the Spotlight
5 Limited Time Offers (LTOs) Driving Restaurant Traffic
Department Store Deep-Dive: Belk
Regional Grocery Chains Staying Ahead of the Competition
Five Chains that Rightsized for Success
Unlocking the Potential of Offline Retail Media Networks
Dining Out With Darden
What’s in Store for Self-Storage?
Nike & lululemon Update: Strong Performance Amid Expansion Plans
Many Ways to Win: Midwest Grocery Deep Dive
Retail, Reinvented: The Rise of the Pop-Up Shop
Navigating a New Normal in Business Travel & Commutes
Placer.ai Office Index: February 2023 Recap
Retail Categories Staying Strong in Volatile Environment
Ulta Beauty: Poised for Success into 2023
Placer.ai Mall Index February 2023: Reasons for Continued Optimism
Catching Up With DICK’s & Hibbett
The Miami-Dade Arena: An Advertising Slam Dunk
Car Washes Revving Up Visits
Tuesday Morning and Sunrises in Home Furnishing
Dining & Valentine’s Day Recap
2023: The Year of the Discount Store
Aldi’s Success Highlights Growing Demand for Value Groceries
5 Retail & Service Categories Holding onto Pandemic Gains in 2023
Visitor Insights from Super Bowl 2023
2023 First Look: Home Improvement Update
How Are Target, Walmart, and Wholesale Clubs Faring in 2023?
Department Store Deep-Dive: Nordstrom
Off-Price: Taking Off in Uncertain Times
Checking in On Middle-Class Hubs
Who Attends the Super Bowl?
Placer.ai Office Index: January 2023 Recap
Focusing On Fitness: Q4 and January Recap
Placer.ai Mall Index: January 2023 – Returning Mall Normalcy?
Location Intelligence Insights Into Concert Attendance
Winning Dining Strategies for 2023
In-N-Out Burger: What to Expect as the Brand Moves East
Location Intelligence Breakdown: Coffee Caps-Off 2022
Digitally Native Brands Lean Into Brick & Mortar
Washington, D.C. Population Changes & Migration Trends
A Location Intelligence Perspective on Macy’s Rightsizing
Amazon-Powered Shopping: The Future of Brick-and-Mortar Grocery?
Cold Weather, Hot Visits: Diving into Winter Resorts
Wawa and 7-Eleven: Leaning Into the “Slurpee Effect”
2022 and Beyond: Catching Up With McDonald’s & Chipotle
Let’s Have Some Fun! Going Out Is In
Placer.ai’s Q4 2022 Quarterly Index
Placer.ai Adds Industry Executives to Leadership Team To Drive Company's Next Phase of Growth
5 Emerging Retail Formats: 2023’s Brick-and-Mortar Evolution
Grocery Update: Zooming in on the Lone Star State
2022 Office Recap: The Year of the TGIF Work Week
What Lies Ahead for Brick-and-Mortar Luxury in 2023
Placer.ai Mall Indexes: December 2022 Recap
Looking Back on 2022’s Holiday Shopping Season
Post-Pandemic Migration Trends in New York
Top Retailers for 2023
The Live Sports Advertising Opportunity
Domestic Migration to the Mountain States: Small Shifts with Big Implications
New Year, New Food: 5 Dining Trends For 2023
Announcing Placer.ai’s COVID RECOVERY DASHBOARD
This is Why Shop-in-Shops Are Everywhere
Super Saturday 2022 Recap
The San Francisco Shift
Grocery Year-End Update: Publix in the Spotlight