Wednesday, May 23, 2018

Accelerating Retail News

Gap will add 60 Old Navy stores this year, pushing its total to more than 1,000 US Old Navy locations by the summer. Gap, which also owns Gap, Banana Republic and Athleta, currently operates more than 3,500 stores globally…Value-priced French sporting goods retailer Decathlon, which operates 1,500 locations across 40 countries, opened an 8,313 s/f  “lab” store on Market Street in San Francisco. This is not Decathlon’s first foray in the US. It entered the US market in 1999 when it acquired 18 MVP Sports stores, but ended up closing the stores and leaving the US in 2006.. .Macy’s added 20 Macy’s Backstage locations in the first quarter as part of a plan to open 100 such outlets within Macy’s stores in fiscal 2018 and nearly double the number of locations. Macy’s is also expanding the geography of Backstage into the northwestern and southwestern US. The new locations will open in existing Macy’s stores…Roots will open two stores in the Washington, D.C., area in August 2018.  Roots operates 116 company-operated stores in Canada and 3 in the US…Turner’s Fine Furniture store is adding an 11th store in Warner Robins, GA...Smoothie King, with more than 900 locations worldwide, signed 36 new franchise agreements this quarter across 14 states that will add 36 new stores to the brand’s footprint. In 2017, Smoothie King added 147 franchise agreements, and it expects to open 150 new locations in 2018, the most it has ever opened in the US in a single year…Del Taco is adding 7 Atlanta area locations. The company has 560 stores in 14 states…Indochino is expanding its brick-and-mortar footprint by almost a third. The company will open 8 new locations during the next four months. Indochino currently has 23 stores...Duluth Trading opened 15 stores last year, and plans to open 15 more annually for the next five years. The company’s store count currently stands at 34…Del Frisco’s Restaurant Group will acquire Barteca Restaurant Group for $325 million in cash. Barteca has two brands, Barcelona, a restaurant that specializes in Spanish and Mediterranean cuisine, and Bartaco, which features “upscale street food” with bold South American, Mediterranean and Asian flavors. Del Frisco’s owns Del Frisco’s Grill, Del Frisco’s Double Eagle and Sullivan’s Steak House…Fred’s has entered into a deal with CVS Health Corp. to sell certain assets of its EntrustRx unit to a subsidiary of CVS Health for $40 million. The deal is expected to close by the end of May... Dick’s Sporting Goods will open four new stores in May. With these opening, Dick’s will have 731 Dick’s Sporting Goods stores in 47 states…Sears Auto Centers will offer full-service tire installation and balancing for customers who purchase tires on Amazon.com. The service launched at 47 Sears Auto Centers in 8 metro areas, and will be rolled out to all 400 plus Sears Auto Centers nationwide during the coming weeks. Amazon is also expanding its cashier-free Amazon Go store to Chicago and San Francisco, but did not say when they would open. Currently there is one Amazon Go store in the base of one of its Seattle skyscrapers that opened in January...Boardroom Salon for Men has opened its 30th unit at the Hill in Dallas, TX, part of an effort to expand its footprint with more than 14 locations by the end of 2019, and to grow to 92 locations in the next four years. Boardroom operates locations across Georgia, Oklahoma, Tennessee and Texas…Rooms To Go will roll out 50 outdoor furniture stores early next year and will rebrand its recently acquired Carls Patio chain as it moves full-on into the outdoor category. The stores will include a mix of standalone showrooms near Rooms To Go locations as well stores within new locations under a new format...Cinnaholic, the vegan bakery franchise, began the year with 76 US locations in development, and plans to open 3 new locations in California, 5 in Orlando, and 30 in Texas, increasing its franchise footprint to 136 locations...A.C. Moore is launching a smaller-store format, to be called A.C. Moore Essentials, next month at Westmont Plaza, NJ. It will occupy about 12,000 s/f compared to 18,000 - 20,000 s/f for a conventional outlet. A.C. Moore currently operates more than 130 stores.

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