Tuesday, March 27, 2018

Accelerating Retail News

Batteries Plus Bulbs opened 26 stores in 2017, 3 corporate locations and 23 franchise-owned. It plans to open 47 stores in 2018, including 14 corporate locations and 33 franchise locations…Tom Trkla, chief executive of a MA-based private equity firm, has created a convenience store company called Yesway that he expects to grow from about 80 stores to 650 in 5 years mainly in the central US...Starbucks opened its first Reserve store, a new upscale format that combines higher-end coffees, freshly-made Italian goods, and cocktails, on the main floor of its Seattle headquarters. It is the first of 1,000 Reserve stores Starbucks plans to open…Jersey Mike’s Subs plans to open 200 new locations, including franchise and corporate, in 2018. The company aims to have more than 2,000 stores open nationwide by 2020…Online mattress start-up Casper is opening its first store, a 3,000 s/f location in New York…Dry Goods announced today the opening of 12 additional US locations in 2018. The company currently operates 27 stores in 8 states...Kohl’s will bring discount grocer Aldi into as many as 10 stores later this year in a pilot test, as the retailer aims to scale down its real estate footprint and bring retail partners into excess spaces. By the start of this year, the company had readjusted the square footage of roughly 300 stores. Right-sizing efforts are expected to impact an additional 200 stores...Soft Surroundings will open 16 new locations this year, including its first in CA. 2018 is the company’s fourth consecutive year of double-digit store openings, and will bring the total store count to 75...Gap Inc. says it plans to double the number of Gap store openings for 2018 relative to 2017. Gap opened 30 Old Navy stores in 2017. The company will also invest in remodeling and adding new tech features to its existing Gap, Banana Republic and Old Navy stores, and work toward its goal of closing 200 older, underperforming Banana Republic and Gap stores by year-end…Roy Rogers plans to open 4  to 6 new restaurants per year. The chain now has 55 restaurants...Darden Restaurants is trying a burger-focused chain, The Capital Grille: The Capital Burger will open in Washington, DC this month...Domino’s Pizza opened its 15,000th store this month in Lewisville, Texas... Ross Stores will open about 100 new stores this year: 75 Ross Dress for Less and 25 dd’s Discounts locations...Washington Prime Group Inc. has signed an agreement to acquire four Sears stores in Texas, Ohio, Iowa, and Colorado in a sale-leaseback transaction for a reported $28.5 million. Sears will continue to operate the properties under new leases with Washington Prime, which will have control of the sites for future redevelopment…Big Blue Swim School, which operates four Illinois locations in former in-line retail spaces, plans to expand to Atlanta, Chicago, Washington, D.C., and Denver with 17 new locations by 2021. Their ultimate goal is 300 to 500 Big Blue Swim Schools nationwide. Big Blue schools feature water that’s always 91-degrees, comfortable parent viewing areas with WiFi, and toys and activities for waiting siblings. Forty swim instructors and three managers conduct 2,000 lessons a week at each location... Burlington expects to open 35 to 40 net new stores in 2018, along with 20 to 25 relocations and closings. The company remodeled 34 stores and opened 37 new ones, and intends to remodel an additional 34 stores this year. Burlington operated 629 stores at year-end.

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