Wednesday, December 21, 2016

Accelerating News

Adidas opened a new, 45,000 s/f four-story flagship store on the corner of 5th Avenue and 46th Street in New York City, the largest store ever for the company…Barnes & Noble opened new-concept stores in NY and MN this month. The stores have a smaller footprint and feature a full-service restaurant and bar. Others will open soon in CA and VA…Starbucks unveiled an ambitious 5-year strategy that calls for approximately 12,000 new stores globally by 2021, including two new formats. The expansion will bring Starbucks’s total store portfolio to approximately 37,000 locations…Apparel rental company Rent the Runway opened its biggest store yet, a 5,000 s/f store in Manhattan that will replace its current Flatiron District flagship…Sweaty Betty, the London-based retailer of activewear for women, opened its 9th and 3rd in Los Angeles. Sweaty Betty plans  at least 50 US stores over the next five years, with eight to 10 locations opening during the next 12 months... Casey’s General Stores, Inc. plans to build or acquire 77 to 116 stores, replace 35 existing locations, and complete 100 major remodels in 2017…Sears Hometown and Outlet Stores have been opening inside existing Ace Hardware locations around the country. The latest is in Santa Paula, CA, inside the Heritage Ace Hardware. This is the 16th new Sears Hometown Store this year. The format makes major Sears brands available to customers in smaller communities... Lidl has acquired an industrial building in Philadelphia in preparation of its upcoming US launch. Lidl, operates nearly 10,000 stores in 27 countries, and plans to open between 120 and150 stores on the US east coast by the end of 2017... PetSmart opened 20 stores across the US and Canada for the quarter ending October 31, 2016. This adds to the 23 stores it opened in the first and second quarters, bringing the total number for the year to 43 new locations. PetSmart is also testing new formats. PetSmart Pet Spa and PetSmart at the Beach are concept stores in which the company is testing innovative ways to combine pet services and an enhanced pet lifestyle experience in a smaller retail footprint. The stores feature a unique, modern design with 5,000-8,000 s/f footprints, smaller than PetSmart’s typical 18,000 -20,000 s/f stores. In addition to brick-and-mortar expansion, PetSmart launched an improved web site, with one-page checkout and new home delivery options such as recurring subscription-based shipping, as well as same-day and scheduled delivery in 16 US markets... Caleres owner of Famous Footwear, has acquired 100-year-old men’s footwear and accessories brand Allen Edmonds from private equity firm Brentwood Associates for $255 million. Caleres operates over 1,200 stores under a variety of banners. Its brands include Naturalizer, Sam Edelman, Via Spiga Vince, Dr. Scholl’s Shoes and George Brown Built... Childcare franchise leader Discovery Point is primed to grow with 47 locations in operation, and five more set to open in 2017, Discovery Point plans to expand in North Carolina, Florida, Tennessee, Georgia, and Texas…Rise Biscuits Donuts announced the signing of a multi-state development agreement that will introduce the Rise concept to Georgia, South Carolina, and Kentucky. MDO Holdings, an investment and management firm with a current portfolio of over 30 companies including such brands as O2 Fitness, Happy+Hale, and Cyclebar, joined the Rise franchise system in June to develop locations in Georgia and South Carolina. In November, MDO Holdings increased their development commitment to include Kentucky, bringing the total to almost 30-units. Their first store is projected to open in early 2017... Shreve & Co. has opened a two-level, 15,000 s/f flagship store in its San Francisco home town, its first new, permanent location in 110 years. The centerpiece is a semi-spiral staircase that offers sweeping views of the store. A waterfall chandelier of lights and crystals is suspended inside the arch of the stairway. A cascade of crystals and lights hangs from the 30-foot ceiling.The store features in-store boutiques, private viewing suites for personalized consultations and an entertainment room.  It also houses an array of services, from a dedicated watchmaker to an estate jewelry appraiser and consultant…Mall of America is adding a 40,000 s/f arcade called Smaaash that includes a multilevel go-cart track, virtual reality and video games, and a restaurant and bar.The venture represents one of the largest investments ever made by a company inside the mall, and means that the mall’s fourth floor - its least-visited floor, which has seen many ventures come and go - is fully leased for the first time in years... Best Buy opened five outlet locations dedicated to major appliances this month in TX, NC, DE, and CA

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