Tuesday, July 24, 2012

Industry News: Accelerating

Target will  remodel 230 stores to its PFresh format this year, and has opened its first 3 City Target urban format stores. Target plans to open 20 to 25 Target stores this year…7-Eleven has has acquired 23 Quix c-stores in Texas, which brings 7-Eleven’s Texas store count to 570. 7-Eleven met its goal of opening more than 600 stores in the US and Canada last year, and is on target to open 630 in 2012… Nordstrom will open 15 new Nordstrom Rack stores a year, as opposed to 8 more full-line stores...Microsoft has opened its first two retail stores in the Northeast, both in New Jersey, raising the chain store count to 18…Edible Arrangements announced a partnership with private equity firm Catterton Partners. In 2011, the company opened 86 new stores, and expects to open more than 100  units in 2012…PVH Corp. will open 600 Izod shops inside JCPenney stores in September. The in-store-shops will range from 600 1,000 s/f…Camping World is set to open its 100th RV superstore next month…Walgreen Co. will pay $6.7 billion for a 45% stake in European health and beauty retailer Alliance Boots, the first international venture and biggest deal ever for the chain. The deal will create one of the world’s largest drugstore and pharmacy retailers with more than 11,000 stores in 12 countries. The acquisition will also allow Walgreens to expand into overseas markets, and give Boots a US presence. Walgreens has also entered into an agreement to acquire Stephen L. LaFrance Holdings Inc., the owner and operator of the USA Drug chain, for about $438 million. The transaction gives Walgreens 144 stores under several banners, including USA Drug, Super D Drug, May’s Drug, Med-X and Drug Warehouse in 7 states...Family Dollar will open 450 to 500 new stores this fiscal year and close 60-80 stores…Virgin Mobile opened 10 retail stores in Chicago. The stores may lead to a national rollout of the Virgin Mobile brand…Nordstrom Inc will open its first department store in New York City in 2018, a 285,000 s/f seven story store at the base of what will become Manhattan's tallest residential building, on 57th Street, near 7th Avenue...Del Frisco’s Restaurant Group opened a Del Frisco’s Grille in Phoenix, and will open Del Frisco’s Grilles in Washington, DC and Atlanta. The first two Grilles opened last year in Dallas and in Manhattan. By the end of the year, there will be 5...The Dannon Co. made its first entry into the restaurant business with the opening of The Yogurt Culture Co., in Manhattan this month...Darden Restaurants Inc. has agreed to buy the 39-unit, high-volume, casual-dining chain Yard House, and add the chain to its Specialty Restaurant Group, which includes The Capital Grille, Bahama Breeze, Seasons 52 and Eddie V’s. Darden also operates the Olive Garden, Red Lobster and LongHorn Steakhouse brands...Ace Hardware has launched an “Express” format for both current Ace retailers and other business owners seeking to integrate the Ace brand into existing offerings. The stores average 5,000 s/f or less, and include customized displays and stock more than 11,000 of the most popular products. Currently, there are “Express” format Ace Hardware locations in 6 states across the United States, including, Massachusetts

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