Monday, May 21, 2012
Industry News: Accelerating
Supervalu Inc. operator of the Albertsons, Save-A-Lot and Jewel-Osco banners plans to complete 100 store remodels and increase Save-A-Lot’s store count by 50 by year’s end…Burlington Coat Factory will open a 92,000 s/f flagship in Manhattan this fall, the retailer’s sixth NYC location. The flagship is part of a broader plan to open more than 20 new stores in 2012…Starbucks has announced a partnership to open a store inside each of the 6 Disney properties in California and Florida. The first will open this summer at Disneyland California Adventure in Anaheim, CA. Starbucks will accelerate new store growth this year to about 1,000 net new stores around the world. The total includes approximately 500 net new stores in the Americas. Starbucks has more than 17,000 stores globally.…Gymboree Corp. will open 105 new stores in fiscal 2012, including 80 Crazy 8 stores…Sears Holdings has expanded its in-store professional apparel Scrubology shops to 91 Sears and Kmart stores nationwide. The concept is already open in 39 stores and offers work apparel and uniforms…Fresh food selections will be expanded at 90 US Target stores, to be completed in late June. Nearly 1,000 Target stores currently offer an expanded food layout, about 10,000 s/ f dedicated to fresh produce, fresh packaged meat and pre-packaged baked goods...Whole Foods has signed 33 new leases in the past year and is on track to open 24 to 27 new stores in fiscal 2012, and 28 to 32 new stores in fiscal 2013…P.F. Chang’s China Bistro agreed to be taken private by Centerbridge Partners LP in a $1.1 billion deal. The takeover would give Centerbridge almost 400 restaurants under the P.F. Chang’s China Bistro and Pei Wei brands…The Ascena Retail Group will acquire Lane Bryant parent Charming Shoppes Inc. for about $890 million. The move gives Ascena, which owns Dressbarn, Maurices and Justice, entry to the plus-size women's clothing market...Westfield Group, the world’s biggest shopping center operator by assets, will sell 8 US malls for $1.15 billion. The company will sell 7 of the properties to Starwood Capital Group LLC for $1 billion, and another property to an undisclosed buyer for $147 million...Bed Bath & Beyond has reached an agreement to acquire Cost Plus in a deal is valued at $495 million. Cost Plus currently operates 259 stores under the names World Market, Cost Plus World Market, Cost Plus Imports, and World Market Stores in 30 states…Online retailer Piperlime, a division of Gap Inc., will open its first retail store this fall, in the SoHo neighborhood of NYC. The 4,000 s/f store will offer a similar assortment as online, and be styled as a boutique…Kohl’s is on track to open 10 more stores this fall, as well as remodel another 50 in 2012...Golf Town will acquire Golfsmith International Holdings Inc. for approximately $97.2 million. Golf Town operates 54 stores across Canada and 7 stores in the greater Boston area. Golfsmith operates 85 US stores...Dick’s Sporting Goods will open 4 stores in the current quarter, and 40 namesake stores in 2012. 5 Dick’s stores will be relocated and 2 Golf Galaxy stores will be repositioned in 2012…Hurricane Grill & Wings announced 5 development agreements, adding 28 locations and continuing its national expansion. Currently, the restaurant has 46 locations in 6 states.