Tuesday, August 23, 2011

Industry News: Accelerating

Hhgregg is on track to open 24 stores in its fiscal second quarter, for a total of 31 new store openings in the first half of this year…Thrift-store retailer Value Village plans to open 23 new stores in 2011, for a total of 287 across the US, Canada and Australia, and another 25 stores in 2012, pushing the total to more than 300...Several retailers have pledged to open stores in what the Department of Agriculture calls “food deserts”: low-income markets throughout the country where finding nutritious food options can be difficult. Walmart plans to open between 275-300 stores and Supervalu plans to build 250 Save-A-Lot stores by 2016. Walgreens committed to converting or opening at least 1,000 food oasis stores across the country over the next five years... Victorinox Swiss Army will open five stores in 2011, the first of which opened July 1 in White Plains, NY. The company operates 9 international stores...Books-A-Million submitted a bid to purchase inventory, fixtures, equipment, and leasehold interests for 30 Borders locations. Under the proposed bid, Books-A-Million will assume the leases for these locations and continue to operate these stores. The move came as Borders Group began to liquidate its business. Books-A-Million operates US 231 stores. With the liquidation of Borders, Books-A-Million will be the nation’s second-largest book chain, after Barnes & Noble. The majority of its stores are in the Southeast, but the Borders deal would expand its reach in the Northeast. Simon Property Group announced that its Premium Outlets division will expand four of its Premium Outlet properties in California, Florida, Illinois and Washington. Construction on these expansions is scheduled to begin in 2012, and total 450,000 s/f of added space…Starbucks expects to open 100 US units this year, and 200 next year, as well as 600 new locations internationally in 2012, about 25% of which will be in China....Fresh & Easy Neighborhood Market, the US division of Tesco, plans to test a new smaller-format store concept, called Fresh & Easy Express, in San Pedro, CA. Fresh & Easy’s new format will be approximately 4,000 s/f, compared with its typical 10,000 s/f size...Best Buy is expanding its Best Buy Express kiosk business to college campuses and the DisneyLand resort. It has opened 150 Express locations in the last 3 years and will add 100 more in the next year. The self-service kiosks are generally located in airports, train stations, casinos and rest stops...Sports Authority opened six new stores on Aug. 13 in Miami, Los Angeles, Salt Lake City, Chicago and Milwaukee...Self-serve frozen yogurt franchise Menchie's opened its 100th store this month in Houston. The chain has  opened nearly 40 stores already in 2011 and plans to open another 30 before the end of the year, aiming for  250 stores in the next 12 months across the United States and beyond…Gap opened two Athleta stores this month in Manhattan. The openings mark the women’s active wear brand’s entry into the East Coast market, and support Athleta’s plan to open up to 50 stores by 2013...Kohl’s is on track to open an additional 31 stores this year, as well as remodel another 15 stores. The company opened 9 and remodeled 85 stores in the first half of the year...Newk’s Express Café has signed 35 agreements for new locations in 2011. 6 restaurants have opened so far this year and at least 14 more are expected to open soon, bringing the total number of Newk’s locations to 50 by the end of the year.

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