Thursday, June 21, 2012

Industry News: Accelerating

Ann Inc. expects to open 65 stores this year, but plans to downsize Ann Taylor stores and close 30 locations. It expects to have approximately 985 stores at fiscal year-end. At the end of the quarter, Ann had 947 stores…Subway has set 2012 development goals of 1,200 North American locations. Since January, Subway has opened nearly 900 new stores in 58 countries, 42 US states and 7 Canadian provinces…Dippin’ Dots, LLC, a newly-formed company, has finalized its acquisition of Dippin’ Dots, Inc, the manufacturer of flash-frozen ice cream. Presently, there are more than 1,600 Dippin’ Dots locations worldwide. By the close of 2012, the company plans to raise that number to 2,000...7-Eleven Inc. built, acquired or transitioned to the 7-Eleven brand 600 stores during 2011. 7-Eleven's 2012 goal is to exceed that number by adding at least 630 new stores by year-end. Globally, there are 46,400 7-Eleven stores in 16 countries. A new 7-Eleven store opens somewhere in the world approximately every two hours…Benihana Inc. will be acquired by Angelo, Gordon & Co.'s Private Equity Group for $296 Million. Benihana has 95 restaurants nationwide, including 62 Benihana restaurants, eight Haru sushi restaurants and 25 RA Sushi restaurants, and 16 franchised Benihana restaurants…Jack in the Box has sold 37 company-owned locations to franchisees in the Seattle area in two deals that generated about $20 million. Jack in the Box Inc. has been moving toward becoming an 80% franchised brand. At the end of fiscal 2011, Jack in the Box was 72% franchised. The 37 units are part of the projected 80 to 120 restaurants Jack in the Box expects to sell in fiscal 2012. The Jack in the Box chain includes more than 2,200 restaurants in 20 states. Jack in the Box Inc. also operates and franchises Qdoba Mexican Grill, which has more than 600 locations in 42 states...Costco Wholesale Corp.plans to open six additional warehouse clubs before the end of fiscal 2012…Tiffany & Co. is on track to add 24 stores this year. Four of these stores were opened in the first quarter...Ashley Furniture will open 50 sleep shops under the banner of Zzz's By Ashley this year...Fresh Market expects to open 14 to 16 new stores, as well as relocate one store and remodel two...Dollar General will open 625 stores, including 40 Dollar General Market stores, in 2012, and will remodel or relocate approximately 550 stores…Starbucks entered into an agreement to acquire Bay Bread and its La Boulange bakery brand. La Boulange, which also serves salads and sandwiches, has 19 Bay Area locations. Starbucks will serve the bakery’s pastries, breads and sandwiches in US stores under the La Boulange name, and will expand the company’s footprint in key US cities…Jersey Mike’s Subs will open 15 stores in the Washington, DC area before the end of the year, as part of a larger strategy to add up to 100 locations to its portfolio of 500 stores nationwide this year. There are currently 12 Jersey Mike’s locations in the Washington area. The company is aiming for 140 locations in the Baltimore-Washington area in seven years...Dick’s Sporting Goods will debut a specialty running store, True Runner, with the first location opening in Pittsburgh. The concept will cater to running enthusiasts with footwear, apparel and accessories, and is slated to open in summer 2012...Private equity firm Thomas H. Lee Partners will acquire a majority stake in Party City Holdings Inc. in a $2.69 billion deal. Party City operates 1,200 US/Canada stores...Starbucks’ Seattle’s Best division signed a deal with Coinstar to sell coffee in thousands of US kiosks at grocers, drugstores and mass-market retailers. The kiosks, which grind and brew beans on demand, will serve brewed coffee, mochas and vanilla lattes. Starbucks expects to sell about 10,000 cups of coffee a year from each kiosk...Gymboree will open 105 stores in fiscal 2012, including 80 Crazy 8 locations.

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