Wednesday, October 14, 2015
Accelerating Retail News
The Running Group, a division of The Finish Line, operates 76 specialty running stores under some 15 individual banners, including JackRabbit, The Running Company, Run On!, Blue Mile, and Boulder Running Company. The company will rebrand all the stores as JackRabbit...With the opening of a 50,000 s/f store in Augusta, its first in Georgia, and a 46,000 s/f store near Denver, its 7th in Colorado, Conn’s will have 100 stores next month...Ross Stores Inc. is continuing an aggressive growth strategy for its Ross Dress for Less and DD’s Discount banners. The new store openings are part of the retailer’s 2015 expansion program, totaling approximately 70 new locations during the year. Ross Dress for Less will open four new stores and DD’s Discounts will open two new stores this month. Together, Ross Dress for Less and DD’s Discounts currently operate more than 1,400 off-price apparel and home fashion stores...La Colombe is adding multiple locations. The Philadelphia coffee-roasting company plans cafés in Washington, D.C., New York, Florida, Massachusetts and California...Smart & Final, operator of 266 warehouse style stores, has plans to open 100 new stores in the Western US during the next four years...Wingstop Inc. opened its 800th restaurant this month in Hillsborough, NJ. Wingstop plans to add 120 to 130 new franchise stores in 2015...Microsoft will open its Manhattan flagship this month on Fifth Avenue and 53rd Street. The five-floor, 22,269 s/f store will showcase its latest technology...The Macerich Co. has formed joint ventures to which the company will contribute interests in 8 regionals malls totaling roughly $2.3 billion. GIC will have a 40% interest in five of the assets, and Heitman will have a 49% interest in the remaining 3 assets. The transactions are expected to close in phases starting in October 2015 and concluding in the first quarter of 2016. The assets are in Arizona, California, Texas, Oregon, Colorado, and New Jersey...Fallas will open its newest location this month in NC, the third in that state. Fallas is part of National Stores Inc., a family-owned discount retailer that operates more than 300 retail stores nationwide under the names Fallas, Fallas Discount, Fallas Paredes, Factory 2-U, Conway, CW Price and FALAS in Puerto Rico. The company is aggressively expanding its footprint into the eastern US. It is in the process of opening 8 new stores in the Carolinas, recently opened 5 stores in Atlanta, and is opening another 9 in Florida...In the next 12 months, Costco will build 32 new stores, 13 outside the US, including its first store in France and a second in Spain. Costco expects to have more than 100 stores in Canada in the next several years, up from over 80 currently...Toys "R" Us will open a three-story, 55,000 s/f store at the American Dream project under construction in the Meadowlands, NJ. American Dream has begun announcing confirmed tenants for the project, including anchors Saks Fifth Avenue and Lord & Taylor. The project also will have more than 300 retail stores, 21 restaurants, 45 specialty food tenants, 20 food court tenants, an amusement park, a water park, an indoor ski slope, a 300-foot-tall Ferris wheel and other entertainment properties...GrandVision NV, the largest global operator in optical retail, will enter the US market via the acquisition of the For Eyes Optical chain. For Eyes Optical operates 116 stores. GrandVision has over 5,800 stores in 43 countries...CVS Health is opening Hearing Centers in 7 CVS/pharmacy stores in the Dallas and Cleveland markets and will be providing optical services at CVS/pharmacy in 5 store locations around the Baltimore/Washington, D.C. market...Tanger Factory Outlet Centers Inc. has closed on the sale of 5 outlet centers to an undisclosed buyer for a total cash sales price of $150.7 million in two separate transactions. The properties are located in Barstow, CA.; Kittery, ME (two properties); Tuscola, IL; and West Branch, MI. Tanger is a publicly traded REIT that operates or has an ownership interest in a portfolio of 42 outlet centers in 21 states and Canada...Sprouts Farmers Market Inc. will open 12 new locations across the US in 2016.