Wednesday, October 19, 2016
Accelerating Retail News
The parent company of 7-Eleven wants to more than double its US store portfolio. 7-Eleven Japan Co. is looking to open thousands of new stores in the US, increasing its current total of app. 8,500 locations to 20,000...ZIPS Dry Cleaners has signed leases for its next 4 stores, in California, Texas, Maryland and Pennsylvania. ZIPS operates nearly 50 stores in the Mid-Atlantic region...Dairy Queen is looking to the Buffalo Niagara area as a prime expansion market, adding 100 stores. Dairy Queen has more than 6,700 locations worldwide...Old Chicago Pizza & Taproom has signed franchise development agreements with three of its existing franchise partners to open nearly two dozen new restaurants across eight states. Old Chicago operates in 24 states with more than 100 restaurants nationwide... Fun Eats and Drinks LLC, a company formed by private-equity firm Kelly Investment Group, won an auction last week to acquire Last Call Guarantor LLC, the owner of sports bar chains Fox & Hound and Champps, out of bankruptcy with a bid of $26.8 million. Last Call operates 37 Fox & Hound restaurants, 14 Champps units and 4 Bailey’s locations....Club Pilates is projected to have 150 US studios before the end of 2016, and announced the sale of 300 new franchised locations in 27 states...Tractor Supply Company has paid $116 million to acquire Petsense LLC, a specialty retailer of pet supplies and services with 136 stores across 25 states...Cabela’s Inc agreed to be bought by Bass Pro Shops in a deal valued at $5.5 billion. The combined company will own 184 stores in the US and Canada... ThreeSixty Group has acquired FAO Schwarz from Toys “R” Us. The terms of the transaction were not disclosed. Toys “R” Us purchased FAO Schwarz in 2009. ThreeSixty has designed a portfolio of owned and licensed brands including Sharper Image, Black Series, Discovery Kids, Smithsonian, and Animal Planet. FAO Schwarz was the oldest toy store in the US when its sole remaining store, on Manhattan’s Fifth Avenue, closed in 2015. A new FAO Schwarz toy collection, designed by ThreeSixty, will be available at select retailers in the fall of 2017... Ross Stores is opening 25 Ross Dress for Less stores and 9 dd’s Discounts stores across 16 different states by the end of October, part of a plan to add approximately 90 locations in 2016. The company currently operates 1,342 Ross locations in 36 states, the District of Columbia and Guam, along with 193 dd’s Discounts stores in 15 states...Macy’s plans to open LensCrafters stores inside 280 locations by the end of 2017. The eyewear retailer is owned by Luxottica, as is Macy’s existing in-store partner Sunglass Hut. Macy’s currently operates about 675 full-line stores, but has announced it will be closing 100 stores by early 2017...Ulta Beauty raised its outlook for US store expansion to a range of 1,400 to 1,700 stores, with new stores targeted to smaller markets and urban markets. As of October 1, 2016 the company operates 928 retail stores across 49 states...Save-A-Lot plans to open 75 new stores in fiscal 2017, and believes the US can eventually support more than 3,500 stores. Save-A-Lot currently has 1,368 stores nationwide.