Thursday, June 22, 2017
Accelerating Retail News
TJX plans to open several US HomeSense stores this year, to operate as a complement to TJX’s existing HomeGoods chain, which has nearly 600 stores. HomeSense is the TJX-owned chain that operates 110 stores in Canada, and 46 in Europe. It did not reveal details of the locations except to say one store will be in its home base of Framingham, MA…High-end sweets retailer Lolli & Pops is teaming up with GGP Inc. to open 30 new locations. Lolli & Pops currently operates 38 locations…Taco Bell plans to open around 300 of its city-style Cantina restaurants in urban areas throughout the US by 2022. There are currently 11 of these urban Taco Bell Cantinas in operation…Texas Roadhouse expects to open roughly 30 new units in 2017. That includes 24 new Roadhouses and six Bubba’s 33. The company operates more than 525 restaurants in 49 states and six foreign countries…Exercise bike brand Peloton hopes to have 40 stores by year-end. It currently has 22 US retail stores…Korean fast-casual chain Bibibop plans to open 3 stores in the Washington, DC this month. The expansion comes as a result of Bibibop’s takeover of all ShopHouse location from parent Chipotle earlier this year…Kohler Co. is debuting a retail format designed to showcase its products. The first Kohler Experience Center, in Manhattan, houses displays of Kohler’s product line. Kohler plans to open 9 KECs over the next year, with London to open soon…Lidl will open its first 9 US stores this month in Virginia, North Carolina and South Carolina… Vegan food chain Veggie Grill, which has 28 locations in California, Washington, and Oregon, expects to double in size by 2020, thanks to a new $22 million round of funding... Meijer plans to open its smallest urban store yet, a nearly 30,000 s/f store that will go by the name Bridge Street Market, to be open in fall 2018…CVS Pharmacy has acquired all 14 Illinois locations of Doc’s Drugs in Illinois, and plans to convert and rename the pharmacies by mid-July... French cosmetics giant L’Oreal will sell its Body Shop division to Brazilian make-up company Natura Cosmeticos. The Body Shop has 3,000 stores in 66 countries…Icahn Automotive Group LLC has entered into an agreement to acquire Precision Auto Care Inc., the parent company of Precision Tune Auto Care, which has more than 250 locations in 26 states. Icahn Automotive Group LLC is a wholly-owned subsidiary of Icahn Enterprises L.P. and consists of retailer Pep Boys and parts distributor Auto Plus...Soft Surroundings opened its 50th store this month. Soft Surroundings started as a catalog business in 1999 and opened its first brick-and-mortar location in 2005…Aldi plans to open 900 stores by the end of 2022, giving it 2,500 stores nationwide. The grocer currently operates approximately 1,600 stores in 35 US states…Fred’s Pharmacy secured additional financing to meet its obligation to acquire 1,200 Rite Aid stores that are expected to be divested as part of the Walgreens Boots Alliance/Rite Aid merger, even as reports circulated that the Federal Trade Commission was preparing to block the merger...Buffalo Wild Wings is opening two smaller format restaurants called B-Dubs Express. B-Dubs locations will be about 2,500 s/f with seating for 35 to 50 people. Its full-service restaurants are about 6,000 s/f and seat 250. Buffalo Wild Wings has 1,200 US locations…Sports Direct, the largest sporting goods retailer in the UK, has completed its acquisition of Bob’s Stores and Eastern Mountain Sports. It will initially operate a total of some 50 stores in the Northeast and 5 EMS outdoor adventure schools, along with e-commerce sites for both brands. Sports Direct owns a portfolio of over 30 brands, including Slazenger, Everlast, Lonsdale, Karrimor, No Fear and Kangol.