Tuesday, April 24, 2012

Industry News: Accelerating

DSW will open 35 to 40 new stores in 2012…GoldMax USA, which specializes in buying gold and precious metals from consumers, plans to open up to 100 new US stores in 2012, adding to its current 200+ store total…Francesca's Collections expects to open 76 new boutiques during fiscal year 2013…Urban Outfitters plans to open 55 to 60 new stores in fiscal 2013, with 13 of those slated to open in the first quarter…Barnes & Noble Inc. plans to expand its 200 s/f. Penguin store-in-stores from its current 10 units to 25. The boutiques sell Penguin book titles and merchandise…Neiman Marcus Group opened its 42nd store, an 85,870 s/f full-line department store in Walnut Creek, CA…Aeropostale plans to open 18 Aeropostale stores, 30 P.S. from Aeropostale stores, remodel 5 stores, and close 10 Aeropostale stores in fiscal 2012…Ann Inc. plans to open 65 new stores in fiscal 2012, which will be partially offset by downsizes at Ann Taylor stores and about 30 store closures…Smashburger opened its 9th New Jersey location, the 150th location for the brand nationwide…J. Crew Group plans 16 J. Crew retail stores, 10 factory stores, one crewcuts store, and 15 Madewell stores in fiscal 2012…QuikTrip opened its 600th convenience store, about 39 months after opening store No. 500. The company now has stores in 9 markets throughout the southern US and Midwest, most recently opening new stores in the Carolinas. The chain owns all 600 stores under its banner….After opening 625 stores in 2011, Dollar General plans to open another 625 units in 2012, which will include 40 of its Dollar General Market stores and 80 new market debuts. About 550 stores are slated for remodel or relocation…YO!Sushi, a fast, casual concept that serves Japanese-inspired dishes, has closed its first agreement with a Washington, DC-based franchisee for 10 restaurants throughout Washington and Philadelphia, the first of which will open this summer. YO!Sushi hopes to open up to 400 US locations...Culver's plans to add 25 to 30 units this year. The chain, known for its ButterBurger and frozen custard, currently has 449 restaurants in 19 states, and aims to hit 500 units by 2013…Charming Charlie announced the opening of 60 retail locations in 2012. Since launching in 2004, Charming Charlie has grown to 182 stores in 33 states…Michaels has filed with the Securities and Exchange Commission for the proposed initial public offering of its common stock. Michaels plans to open 45 to 50 stores in 2012…Family Dollar opened 184 stores during the first half of fiscal 2012, closed 36 stores, and renovated, relocated or expanded 342 stores. The chain anticipates opening 450-500 stores for the full fiscal year...Saks Fifth Avenue Off 5th will anchor two new centers in development: Phoenix Premium Outlets and St. Louis Premium Outlets. There are 34 Saks Fifth Avenue Off 5th locations in shopping centers in the Simon Premium Outlets and Mills divisions…High-end London men’s retailer Alfred Dunhill will open its second US store on the Vegas strip this summer. It plans to open at least 3 more over the next 12 months...Eastern Mountain Sports plans to open 3 stores in the next 3 months in Manchester, CT, South Portland, ME, and North Brunswick, NJ…Hobby Lobby Stores opened its 500th store, a 66,500 s/f facility in Las Vegas...Ruby Tuesday Inc. has agreed to acquire the Lime Fresh Mexican Grill chain for $24 million, but Ruby Tuesday will close up to 27 underperforming locations of its namesake brand in coming months. Lime Fresh has a total of 15 locations, and plans to add another 20 next year with 30 more planned for 2014. Ruby Tuesday Inc. operated 740 locations at the end of the quarter, while franchisees operated another 85 US restaurants…Bed Bath & Beyond Inc. anticipates opening a total of 40 stores across all concepts this fiscal year...Uniqlo will open its first West Coast store, a 29,000 s/f space in San Francisco, this fall. The company has opened 3 US stores in New York City…Sbarro will open 10 test units in June which will showcase new initiatives such as reformulated pizzas and made-to-order pasta dishes. Sbarro currently has 1,025 units.

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