Thursday, August 30, 2018
Accelerating Retail News
Starbucks opened its first-ever standalone Princi bakery and café, in downtown Seattle. Princi is the exclusive food supplier in all Starbucks Reserve Roastery locations…Focus Brands Inc. will acquire Jamba (whose wholly-owned subsidiary is Jamba Juice Company) in a transaction valued at approximately $200 million. The deal is expected to close during the third quarter of 2018. Jamba Juice has more than 800 locations worldwide…Brookfield Asset Management Inc. will acquire all the outstanding shares of common stock of Forest City in a transaction valued at $11.4 billion. Forest City operates a large portfolio of retail space, including regional malls and specialty retail centers, primarily in NYC. The company’s portfolio also includes 6.3 million s/f of office, 18,500 multi-family units, and 5 large-scale development projects in the NY Metro area, San Francisco, and Washington, DC...Online furniture retailer Wayfair will open its first retail outlet in Florence, KY. The 20,000 s/f store will open early next year, and will sell returns and closeouts...Casper will open 200 stores across North America over the next 3 years. Casper opened its first permanent retail shop in NYC earlier this year after gaining popularity with a series of pop-up shops. The 200 stores include 18 of these temporary locations that Casper will transition to permanent shops. Many of Casper’s temporary stores are in malls, and the company expects to keep opening shops in malls... Tiffany & Co. will begin a massive renovation of its Manhattan flagship on 5th Avenue at 57th Street, starting this spring…Bealls Inc. will open a chain called Home Centric, the first of which opened this May in Cary, NC. At an average 15,000 s/f, Home Centric’s product mix includes brand and private label products for furniture, wall décor, rugs, lamps, housewares, bed and bath. A 2nd Home Centric will open this fall in Tennessee; a third will open in next spring in Florida. 5 in total are projected for the end of 2019. Bealls operates over 530 stores across 16 states...A marijuana-themed restaurant chain wants to expand its Wisconsin footprint with a new shop in the Milwaukee region. Colorado-based Cheba Hut operates in 7 states and entered the Wisconsin market in 2013 with a franchise in Madison... CAVA, a restaurant chain focusing on casual Mediterranean cuisine, has agreed to acquire Zoe’s Kitchen Inc for around $300 million including debt, with backing from a group of investors. The deal will expand CAVA’s footprint from 66 locations to 327 in 24 US states. Zoe’s was founded in 1995 and has 261 locations in 20 US states... Google is reportedly planning a two-level flagship retail store in the Fulton Market district of Chicago. Google’s has previously opened in-store shops and pop-ups in various US locations, including in NYC and LA. The Chicago location is about two blocks south of the company’s Midwest headquarters, and will occupy the first and second floors of several connected, two-story brick buildings...FAT Brands Inc., parent company of Fatburger and Buffalo’s Express, are developing 13 new Fatburger and Buffalo’s Express restaurants in CA and Washington state.