Friday, November 13, 2015

Accelerating Retail News

Rooms to Go cut the ribbon last month on the largest retail furniture store in the Southeastern US. The newly built facility in Dunn, NC comprises app. 1,450,000 s/f on 120 acres and houses a state-of-the-art Rooms to Go, a Rooms to Go Kids/Teens, a Rooms to Go Outlet Center, and a distribution center...Nordstrom Rack plans to have 300 locations open by 2020. There are currently 188 Nordstrom Rack stores...Dick’s Sporting Goods Inc.  opened 5 new stores in IL, IA, WI, WA, and CT. These stores expand Dick’s store base in the US to 640... Wegmans plans to build a store in Lancaster, PA, the chain’s 87th store, in The Crossings at Conestoga Creek, a planned mixed-use project development. Wegmans currently operates 86 stores nationwide... ALDI plans to open 45 grocery stores in Southern CA by July 2016, as part of a five-year plan to open 650 new stores nationwide by the end of 2018. ALDI operates more than 1,400 stores in 32 states...Hudson’s Bay Company is launching an off-price spin-off of the Lord & Taylor department store called Find @ Lord & Taylor. The first store will open this month in a 35,000 s/f former Loehmann’s space in Paramus, NJ. HBC is hoping to expand on its success with its other off-price concept, Saks Off Fifth...Bridgestone Corp. agreed to buy the Pep Boys retail chain for about $835 million. The acquisition is slated to close at the beginning of next year. Bridgestone operates more than 2,200 tire and automotive centers across the US, and Pep Boys has more than 800 shops. The merger will create the world’s largest chain of its kind...Century 21 Department Store will open an approximately 70,000 s/f, two-level store at Green Acres Mall in Valley Stream, New York, on Long Island. Century 21 operates 9 stores in the New York region and 1 in Philadelphia... Key Food Stores confirmed its successful acquisition of 23 stores in the A&P bankruptcy auction, and said it will operate 2 units as corporate stores. The new stores will grow Key Food to 212 units... Walgreens Boots Alliance is in advanced talks to acquire Rite Aid in a deal that could be worth as much as $10 billion. The deal would bring together the No. 1 and No. 3 retail pharmacy operations under one roof, with more than 12,786 stores and more than $67.1 billion in pharmacy revenue. WBA is willing to unload up to 1,000 stores in order to win regulatory approval, about 8% of the combined company’s 12,700 US stores; however, the company may potentially have to close many more locations (as noted in our Commentary)...Kohl’s plans to open 5 - 10 new stores in a smaller 35,000 s/f prototype, aimed at underserved areas. Kohl’s also plans to open 10 - 15 stores dedicated to its proprietary Fila brand in outlet malls across the country. Additionally, the retailer will open two more Off-Aisle by Kohl’s locations in 2016...O’Reilly Automotive plans to open 210 new stores next year. The company is also on track to open 205 new stores by the end of 2015. O’Reilly Automotive, Inc. operates 4,523 stores in 43 states...Starbucks intends to open 1,800 new stores globally during fiscal 2016, with licensing driving a large portion of the growth. This includes 700 stores in the Americas (half licensed)... When Dollar Tree acquired Family Dollar earlier this year, the company agreed to divest 330 Family Dollar stores to satisfy federal regulators. The acquiring company is a newly created portfolio company of the private equity firm Sycamore Partners which will operate those 330 stores as Dollar Express stores. Sycamore Partners’ portfolio includes Aeropostale, Coldwater Creek, Hot Topic, the Kasper Group, Nine West, Talbots, and Torrid. The combination of Dollar Tree and Family Dollar created a retailer with nearly 14,000 locations nationwide... Bob’s Discount Furniture is planning a big push into the Chicago market. Bob’s will open stores in Skokie, Burbank, Orland Park, Villa Park and Aurora in February 2016. CT-based Bob’s has 64 stores in the Northeast and mid-Atlantic....Amazon’s first permanent physical store has opened in Seattle. The store integrates offline and online book shopping...Victoria’s Secret will open a 64,000 s/f store next fall on the corner of Fifth Avenue and 51st St. in NYC, in a space formerly occupied by Forever 21...Shareholders of the Charlotte-based department store chain Belk approved the $3 billion sale of the company to private equity firm Sycamore Partners. Belk is the nation’s largest family-owned-and-operated department store, with $4 billion in annual sales at almost 300 locations in 16 Southern states....Tommy Bahama opened a three-level, 19,200 s/f  flagship in Waikiki, the brand’s eighth location in Hawaii... Jamba Juice Inc. has launched its 2016 multi-unit development packages in existing and new markets in Philadelphia, Maryland, Washington, D.C., Virginia, and Florida, part of a plan to add 500 new stores by 2019. Jamba Juice has 601 franchised stores and 206 company-owned stores... Texas Roadhouse plans to open 25 to 30 locations, including 5 of its Bubba’s 33 restaurants, 1in 2016... Macy’s and Luxottica signed a deal to open up to 500 LensCrafters optical retail centers inside Macy’s. Macy’s and Luxottica already have a deal which put 670 Sunglass Hut’s in Macy’s stores. The first LensCrafters will open at a Macy’s location by April, with 100 slated to open by the end of the year... Cabela’s expects to open 7 stores next year and no more than that in 2017. Cabela’sis on track to open 13 stores and had announced or identified 11 stores for 2016 and 6 for 2017. It has been reported that Bass Pro Shops is eyeing Cabela’s for acquisition.

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