Thursday, March 15, 2012
Industry News: Accelerating
Nordstrom will open a full-line store in Salt Lake City in March, as well as 14 Nordstrom Rack stores in fiscal 2012…Target will open a 135,000 s/f store in MN, one of 20 to open this year, including 5 smaller CityTarget formats in Chicago, Seattle and San Francisco…Cabela will open 5 stores in 2012, in addition to its first Outpost outlet, slated to open this fall in WA. The Outpost stores will be built with Cabela’s rugged outdoor theme and will feature seasonal products. The company expects to open 6 stores and up to 3 additional Outpost stores by 2013…7-Eleven Inc. will open as many as 14 Manhattan stores this year. The retailer plans to add 20 locations every year until 2017…Texas Roadhouse Inc., which operates or franchises 360 restaurants, expects to open at least 25 new locations in 2012…Save-A-Lot opened 13 new stores in 4 states: four in PA, three in NY, three in OH and three in TN…General Growth Properties Inc. has made a deal to buy 11 Sears stores for about $270 million. GGP plans to rent some of the spaces and rebuild others...Lowe’s plans to open 10 stores in fiscal 2012...Vitamin Shoppe plans to open 52 new stores in 2012…Elevation Burger is expected to expand to more than 50 units by the end of 2012. The chain currently has 29 units...Big Lots plans 90 new US store openings in 2012. Big Lots operates 1,451 stores in 48 states…Ascenta Retail Group Inc., whose brands include Dressbarn, Maurices, and Justice, plans to open 145 stores and close 55 stores in fiscal 2012 year, and will close the year with about 2,600 locations...Children's Place expects to open 60 new stores in fiscal 2012 and close 35…Target will complete remodels at more than 100 stores this month, the first of three cycles of remodels this year. The chain expects to remodel 230 stores to incorporate expanded fresh food layouts in 2012. Nearly 900 Targets currently offer the expanded food layout…Kohl’s announced the opening of 8 stores. The company now operates 1,134 stores in 49 states…The Fresh Market opened 6 new stores in the fourth quarter of 2011, plus two new stores so far in 2012, bringing its total to 115 locations in 21 states.