Tuesday, February 24, 2015
Staples is buying rival Office Depot for $6.3 billion. Staples CEO Ron Sargent will remain in his position and the combined company will retain the current Staples headquarters in Framingham, MA. Staples had been in talks to purchase its rival for about five months...In its first acquisition in 10 years, Macy’s will acquire luxury beauty products retailer Bluemercury for $210 million in cash. Bluemercury currently operates about 60 specialty stores in 18 states, primarily in prime street-level locations and urban lifestyle centers. Most locations include in-house spas. The company also operates an online business. Macy's plans to operate and significantly expand Bluemercury stores as a standalone business. The transaction is expected to be completed in Macy’s, Inc.’s fiscal first quarter, which ends in May of 2015)... Smokey Bones Bar & Fire Grill will open 3 new US restaurants in 2015 - in Peabody, MA, Chicago, and an undisclosed East Coast location - bringing the brand's portfolio to 68 across the US....Tractor Supply Company opens its 1,400th store, in Eunice, LA, this month. The location is one of 110 to 115 new stores the retailer plans to open this year....Target has confirmed that most of the stores it opens this year will be smaller-format outlets, not traditional sprawling suburban-type stores. 8 of the 15 stores it opens in 2015 will be TargetExpress stores, which run about 20,000 s/f, roughly one-tenth the size of a SuperTarget. Target said it also intends to open a CityTarget in Boston near Fenway Park, and another next year in Brooklyn. CityTarget stores are somewhat smaller than traditional suburban stores but still run between 80,000-160,000 s/f. Target also plans to open 6 standard general merchandise stores in 2015, including two in Hawaii, and one each in Illinois, Texas, California and Massachusetts...Forever 21 will open a five-level store this month on Fifth Avenue in Manhattan, taking over space that formerly housed an H&M. Forever 21 is planning to open 600 new stores in the next three years...Mattress startup Tuft & Needle plans to open its first retail store this summer in San Francisco’s SoMa neighborhood...Orchard Supply Hardware opened three new stores this month, one in Oregon and two in California...British women’s activewear brand Sweaty Betty plans to expand its presence in the US. Sweaty Betty operates more than 40 stores in the UK, and two in the US...British toy retailer Hamleys has begun a multiple store roll-out throughout the US. Hamleys currently has 49 stores across 17 countries in Europe, Asia and the Middle East, and is most famous for its seven-story location on Regent Street in London...Stew Leonard’s will open its fifth store and first grocery store location in Farmingdale, NY on Long Island. It now has four locations: Norwalk, Danbury and Newington in Connecticut, and Yonkers, N.Y...JC Penney plans to expand its in-store Disney shop concept, currently featured in 565 stores, to an additional 116 stores this year...GNC Holdings Inc. plans to open 125 total net new domestic locations, approximately 150 net new international locations, and approximately 30 net new GNC-Rite Aid store-within-a-store locations...Whole Foods Market plans 38 to 42 new store openings, including relocations, in 2015. The company currently has 408 stores, and plans on tripling its US store count to 1,200 locations over the long term.