Wednesday, December 16, 2015
Conn’s Inc. reached the 100 store mark with the opening of a Conn’s HomePlus store in Las Vegas. Conn’s plans to open 15–18 stores in fiscal 2016, nearly 25 outlets in fiscal 2017, and believes it has the potential to expand to 500 US stores. Conn’s currently operates outlets in 12 states...Dollar General plans to expand its square footage by 7% in 2016. Dollar General operates 12,396 US stores...Saks Fifth Avenue will open its first Saks Off 5th outlet in New York City in March 2016. The opening is part of the company’s plans to open in high-density/high-traffic locations...Lord & Taylor will debut its new off-price concept, Find @ Lord & Taylor, this month in Paramus, NJ. This initial store will be followed by six additional locations next year...Modell’s Sporting Goods is opening two new stores in the NYC metro area. The new locations expand the retailer’s portfolio to 155 stores in 10 states... L.L. Bean Inc. opened a store Columbus, OH, the chain’s first in that area and second store in Ohio, part of the company’s push toward 100 stores by 2020. The company had 18 stores at the start of its retail push and is now up to 33...Liquor Stores NA Ltd., a Canada-based retailer whose US presence has so far been limited to Kentucky and Alaska, will enter three new states, New Jersey, Massachusetts and Connecticut, by mid-2016. Liquor Stores NA currently has 249 stores...The Greene Turtle Sports Bar and Grille opened its 43rd location and second New York site last month. So far in 2015, The Greene Turtle has opened 6 restaurants, including its first in WV, and announced new franchise agreements that will introduce the brand and to the suburbs of Philadelphia and Virginia’s Shenandoah Valley...The private-equity owners of Petco have reached a $4.6 billion deal to sell the retailer to CVC Capital Partners and the Canadian Pension Plan Investment Board. Petco has 1,400 locations across the US and Mexico... Mattress Firm is acquiring Sleepy’s. The combined company will operate nearly 3,500 stores and 80 distribution centers in 48 states...Ross Stores plans to open 2,500 stores over the long-term. The company operates Ross Dress for Less and dd’s DISCOUNTS. As of October 31, 2015, the Company operates 1,276 Ross locations in 35 states, and 172 dd’s DISCOUNTS stores in 15 states...Shinola, which sells American luxury brands, opened a store in Dallas this month. So far, the chain of 11 stores and maker of watches and leather goods employs 525 people. The company is planning 6 to 10 stores next year and will eventually grow to 70 stores...Tropical Smoothie Cafe plans to open approximately 25 new locations in Maryland over the next 3-5 years, including 10 in Baltimore, and plans to exceed 475 stores nationwide. By 2018, the company plans to have 800 US stores...Dave & Buster’s intends to open a total of 8 to 9 new stores and relocate one existing store. All but one of the new store openings will be in the large-store format...Pedego Electric Bikes opened 5 new stores in FL, CO, OR, and CA, bumping the store count for Pedego-branded locations up to more than 75... As of this writing, the merger between Bridgestone Americas and Pep Boys, which had been threatened by a competing bid from Icahn Enterprises, is on again. Bridgestone matched Icahn’s offer of $15.50 per share, or approximately $863 million, while the Pep Boys board said it no longer considered the Icahn bid a “superior proposal” as defined in the October merger agreement with Bridgestone. If the deal goes through, it will add approximately 800 Pep Boys locations and 7,500 service bays to Bridgestone Retail’s network of 2,200 tire and auto service centers, which operate under the Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel Works banners... New York private equity firm Sycamore Partners has completed its purchase of Charlotte-based department store company Belk. Belk started in 1888 and grew into the largest family-owned department store chain in the US, with nearly 300 locations in 16 Southeastern states.