Tuesday, November 22, 2016

Accelerating Retail News

Dick’s Sporting Goods won a bankruptcy auction with a $70 million bid this month to take over Golfsmith International’s US business. Dick’s will keep at approximately 30 Golfsmith stores open and shutter the rest with the help of liquidators Hilco Global and Tiger Capital Group. The auction is awaiting the approval of a US bankruptcy court judge...Spence Diamonds will open its first US store in Austin, TX next month, soon to be followed by stores in CA and AZ, with additional markets to be announced soon. Spence features “artisan created diamonds,” which are created in a plasma chamber instead of being dug out of the ground...PGA TOUR Superstore signed leases for three new stores in 2017. PGA TOUR recently acquired a Sports Authority location in Glendale, AZ, and is also planning new stores in Hilton Head, SC and Jacksonville, FL (later next year). This November, PGA TOUR will open a 45,500 s/f store in Woodland TX, its 27th store...Chipotle Mexican Grill opened its first Tasty Made burger restaurant in Lancaster, OH, last month...Modell’s Sporting Goods is opening a flagship store at a 2-level, 20,000 s/f former Sports Authority store in Manhattan this month...Online men’s clothier J.Hilburn is opening a showroom in Dallas’ Inwood Village shopping center. If it goes as planned, the company will open 10 to 15 showrooms over the next 5 years in major US cities...Amazon is planning more physical stores. There will be Amazon book stores, Amazon food stores, Amazon pop-up stores and maybe even Amazon fashion stores. Amazon is preparing a grocery store pilot program - by the end of 2018, 20 grocery units are slated to open in various US cities... Petco will celebrate the grand opening of 9 new stores nationwide in November and December, part of the company’s growth plan, which includes 63 new Petco stores and one new Unleashed by Petco store year-to-date... Saks Fifth Avenue has opened its 3rd store in Miami, a 107,550 s/f full-line store at Brickell City Centre; this is Saks 7th new store opening year-to-date... E-commerce apparel company Bonobos is seeking to expand its brick-and-mortar operations. Bonobos launched in 2007 predicated on the idea that men don’t enjoy shopping and that all menswear would eventually be sold online. Since then, the company has opened close to 30 “guideshops” nationwide. Bonobos has expanded its partnerships with other retailers, and has plans to open 100 stores of its own by 2020... Toys “R” Us has opened a new prototype in Santa Ana, CA. At 25,000 s/f, the store is smaller than the chain’s traditional stores. It also has more interactive features. 3 additional locations are planned... Regency Centers and Equity One have signed an agreement to merge. Regency will continue as the public company. The transaction, which was approved by the boards of both companies, will create a national portfolio of 429 properties totaling more than of 57 million s/f... PetSmart opened its 1,500th store, in Sheridan, CO, one of approximately 80 new stores the retailer is opening in 2016 in new markets as well as current markets.

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