Tuesday, April 21, 2015
Accelerating Retail News
Starbucks Corp. plans to open 3,500 locations in its Americas region and 8,000 new stores in foreign markets over the next 5 years. Starbucks is currently at just over 14,000 stores across the Americas...Tiffany plans to open a net of 12-15 new company stores in fiscal 2015...Mattress Firm plans to open 200 to 220 new stores in fiscal 2015...New York & Company expects to open 3 new New York & Company stores, 11-15 new outlet stores, convert 9 New York & Company locations to 9 outlet stores, remodel 8-12 existing stores and close 18-22 stores, ending fiscal 2015 with between 496 and 504 stores, including between 82 and 86 outlet stores...Appliance and outfitting retailer Pirch opened its first Northeast store in Paramus, NJ last month...Ikea will open its largest US store, 456,000 s/f store on a 22-acre site in Burbank, CA in spring 2017...H&M plans to open 400 stores in its current fiscal year in China and the US. In New York, it will open a 61,000 s/f flagship in Herald Square. H&M operated a total of 3,551 stores around the world as of Feb. 28, up from 3,192 a year earlier...Five Below Inc. plans to open 70 stores in 2015, up from 62 in 2014...GameStop plans to open between 350 to 550 stores in its technology brands segment (whose banners include Simply Mac, Cricket and Spring Mobile) while closing about 200, of its 6,000 GameStop video locations in 2015...Investment firm TowerBrook Capital Partners is acquiring women’s apparel retailer J. Jill, which operates some 250 stores nationwide, from Investment firm Arcapita and private equity firm Golden Gate Capital. Terms were not disclosed. The deal is expected to close in second quarter 2015...Smashburger plans to open 75 to 80 restaurants in 2015. Smashburger has 315 units in 33 states and seven foreign countries, including about 180 company-owned locations...Sprouts Farmers Market plans to open 8 new stores during the third quarter. Sprouts operates 201 stores in 12 states. The company plans to have close to 230 stores...West Marine opened a 20,000 s/f flagship store in Chicago this month, the largest West Marine store in the Midwest. West Marine operates over 270 stores in 38 states...Quebec-based David’s Tea Inc. is looking to boost its US presence. The chain has filed a registration with the U.S. Securities and Exchange Commission for an IPO in which it looks to raise a maximum of $75 million. The company plans to list on the Nasdaq with the ticker symbol "DTEA.” In fiscal 2015, David’s Tea expects to open approximately 25-30 stores in Canada and 10-15 stores in the US...Gigi’s Cupcakes, specialty baked goods franchise, plans to open 25 locations this year. Gigi’s has more than 90 locations in 23 states...Newk’s Eatery is planning franchise growth in new markets Georgia, Florida, Texas, Washington, D.C, Virginia, Indianapolis, St. Louis and Oklahoma City. The chain is seeking multi-unit franchise partners for a growth plan that calls for more than 200 units by 2018, including 30 in 2015...Dave & Buster’s opened 8 new locations in 2014, and is committed to opening 7-8 new units in 2015, with 5 already under construction. Those will skew more to the large-store format of more than 30,000 s/f. Dave & Buster’s has locations in 30 states and Canada...Sprint launched retail operations in 1,435 RadioShack stores, re-branded as Sprint RadioShack. General Wireless Inc., an affiliate of Standard General LP, acquired 1,743 RadioShack stores. Sprint agreed with Standard General to be co-tenants in 1,435 of those stores, with Sprint being the primary brand in marketing materials and signage...Ice cream sandwich concept CREAM will open 30–40 stores in 2015, and could have 150 stores by the end of 2016. CREAM features 10 varieties of cookies and 20 flavors of ice cream...Pet Supplies Plus will open 25 franchise stores over the next year and more than 200 new stores over the next 5 years...Dick’s Sporting Goods will open 135-150 namesake stores during the next 3 years.