Tuesday, April 26, 2016

Accelerating

Urban Outfitters is experimenting with larger-sized “ultimate experience” stores, ranging in size from 20,000 to 30,000 s/f for its Anthropologie brand.The latest location to feature the expanded format is the recently expanded store in Portland, OR. Urban Outfitters’ Free People division is also getting a slightly larger box, with its footprint expanding from some 3,500 to 4,000 s/f. The brand will open 12 stores this year...Irish firm Danu Investment Partners Ltd. has acquired Smith & Wollensky Restaurant Group Inc. from a Bunker Hill Capital LP consortium. Terms were not disclosed. Danu now owns 7 of the 8 US locations, and worldwide licensing rights to the Smith & Wollensky brand...Covelli Enterprises, the largest franchisee of Panera LLC, opened the 2,000th US Panera Bread last month in Ohio...Sportsman’s Warehouse plans 11 new stores for 2016. This year will give the company 75 locations in 20 Western states and Alaska...Nordstrom plans to open one new Nordstrom Rack store at District Center in Washington, DC in fall 2016 and another in Texas in spring 2017...Signet Jewelers plans to open 145 to 178 units, and close 61 to 87 units. Last year, Signet opened 108 stores and closed 62. The company had 3,625 units as of the end of January...Five Below entered a new market with the opening of 3 Louisiana stores. Five Below plans to open 85 new stores this year. The company operates 444 stores in 27 states... Macy’s will open a new Bloomingdale’s Outlet store in November 2016 at The Outlets at Orange, CA, the 17th Outlet location since 2010....Tampa-based Benzer Pharmacy expects to reach 600 stores this year and 1,500 under the Benzer name by the end of 2017. Benzer started with a single store in 2009 and has grown primarily through acquisitions of small mom-and-pops... Hudson’s Bay Co. will open 7 new flagship Saks stores and 32 new Saks Off 5th off-price stores in the next few years, which will be added to its existing 38 Saks Fifth Avenue stores and 90 Off 5th stores....Petco will open 7 new stores in April as part of its 2016 growth plan, which includes 20 new store openings year-to-date. Petco operates more than 1,430 locations across the U.S., Mexico and Puerto Rico... H&M plans to open a total of 425 new stores this year, and expand its e-commerce efforts to Japan and 10 additional markets. Based in Stockholm, Sweden, H&M operates stores under its namesake banner as well as COS, Monki, Weekday, Cheap Monday, & Other Stories. The company currently has more than 3,900 stores...Casual wear, work wear, and accessories seller Duluth Trading Company opened 3 new stores to end the year with 9 locations. The company expects to open 4-5 new stores this year and 7-8 locations in 2017... Margaritas Mexican Restaurant, with 25 locations throughout New England and Pennsylvania, expects to add five new restaurants to the system through existing franchise deals and corporate-owned restaurants...Canadian chain Earls Kitchen + Bar, with 59 locations north of the border, has seven US locations with two more set to open this year, in Boston and Orlando. The chain also plans to open one new location in each country next year.

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