Thursday, November 17, 2011
Industry News: Accelerating
Capital Group has acquired 15 JCPenney Outlet Stores from JCPenney Co. and will rebrand the units as JC’s 5 Star Outlet. The stores will operate for a transitional period as JCPenney Outlet Stores. Penney will supply the stores with overstocks and end-of-season merchandise, and existing staff and management have been retained…Lord & Taylor plans to open 3 new stores in the coming year, an 80,000 s/f store in Yonkers, NY, a 120,000 s/f store in Rockingham, NH in March, and an 80,000 s/f location in Boca Raton, FlL in fall 2012, bringing the total number of Lord & Taylor stores to 50...SuperValu will remodel 80-90 stores in fiscal 2012. Its Save-A-Lot unit will increase its store count by 80 to 90 stores...Vitamin Shoppe opened 10 stores during the latest quarter, and expects to open 48 stores this fiscal year and 52 locations in fiscal 2012…Dunkin' Donuts has 86 new restaurants planned in the Washington, DC, market by 2020. 15 development agreements were signed over the past year for 64 new restaurants, in addition to 22 previously contracted restaurants…Books-A-Million has been taking over the leases of former Borders stores and will transform 41 of the sites into BAM stores this month. Most locations represent new markets for the bookseller. In addition to opening the 41 outlets, the company is closing 21 locations...Pep Boys exceeded the company’s goal to open 50 stores this year and hit 119 stores, 99 by acquisition. In 2012, Pep Boys plans to add 75 more centers through growth or taking over closed auto repair facilities...Buffalo Wild Wings opened restaurants in Florida, Tennessee, Washington and California, marking the chains 800th location across 45 states…Jamba, Inc. is meeting its 2011 goal to open between 50-70 Jamba Juice locations. As of October 4, there were 752 US locations and 10 international stores…C. Wonder made its retail debut with a 5,000 s/f NYC store.The company is on track to open 3 mall locations this fall. An additional 20 locations are planned for 2012. C. Wonder offers apparel, accessories and home-décor items under its own brand..H&R Block will set up kiosks inside 300 Walmart locations, adding to a network of more than 11,000 US offices. Service will be available starting in December...The Great Atlantic & Pacific Tea Co. has secured a $490 million financing package from Yucaipa Cos., Mount Kellett Capital Management and investment funds managed by Goldman Sachs. The package will allow the grocer to emerge from Chapter 11 bankruptcy protection early in 2012. A&P filed for Chapter 11 in December 2010. The agreement is subject to court approval...Wal-Mart opened its smallest-format stores yet in California for the 2011 holiday season. 2 new test stores, one 1,000 s/f, and the other 3,000 s/f, are designed to drive sales through Walmart.com, and are expected to remain open through December 31. Wal-Mart also opened three new Neighborhood Markets in Wichita, KS, each between 30,000- 40,000 s/f…Williams-Sonoma has acquired Rejuvenation Inc., a manufacturer and retailer of authentic reproduction lighting and house parts.