Friday, August 17, 2012
Industry News: Accelerating
DineEquity, Inc. parent company of Applebee's Neighborhood Grill & Bar and IHOP, has entered into an agreement with TSFR Apple Venture LLC for the sale of 65 Applebee's company-operated restaurants in Michigan. DineEquity has sold or entered into agreements for all 510 domestic Applebee’s company-operated restaurants acquired in the acquisition of Applebee’s in 2007.…Whole Foods Market opened a record 9 new stores in the third quarter, 1 in the fourth and plans another six by fiscal year end, bringing this year’s total to 25 new stores. The company is on track to grow the chain to 1,000 stores from its current 369…H&M plans to increase the number of stores each year by 10 to 15% means about 20 new openings this year. The bulk of those will be in the West, Southwest, Southeast and South Central regions, in small cities as well as traditional large markets. H&M currently has 245 US stores…J.C. Penney opened in-store shop concepts for Levi's, i jeans by Buffalo and The Original Arizona Jean Co. in nearly 700 stores nationwide. Penney’s second wave of branded shops will open Sept. 1, and will feature dedicated shops for Liz Claiborne, IZOD, and jcp – a new private brand…By the end of 2012 Toys “R” Us will have opened 8 new stores and remodeled 13 existing locations to the side-by-side Toys “R” Us/Babies “R” Us model. The 21 stores across 13 states are representative of its strategy to bring both concepts together in an integrated store format. Toys “R” Us said it expects to operate 204 side-by-side stores nationwide…7-Eleven Inc. has signed an agreement to acquire the company-operated convenience stores of TETCO Inc. Sources put the number of stores between 174 and 185. Others put it at between 250 and 280 stores. 7-Eleven operates, franchises or licenses more than 9,300 7-Eleven stores in North America. 7-Eleven Inc. is putting 30 convenience stores/gas stations in New York State on the market. The locations were part of the acquisition of the 188-store Wilson Farms chain in 2011. Six of the sites are convenience stores only (no fuel), while the other 24 are convenience stores with gasoline. All but one site is currently operating...Vitamin Shoppe is on track to open 52 stores in fiscal 2012...Quaker Steak & Lube has opened its 50th restaurant and is on track to open 10 additional restaurants this year. The brand will expand to 6 new markets with 5 franchise groups over the next several years. Additionally, restaurants are planned to open this year in NJ, KY, SC, OH, and PA.