Thursday, January 24, 2019
PGA Tour Superstore plans to open an “experiential” golf superstore in February in the former location of Toys R Us at Northshore Mall, the company’s 36th US store and first in New England. When the Peabody store opens, PGA Tour Superstore will be open in 16 states. PGA has been acquiring locations of former Toys R Us, including in Indianapolis, Chicago and Boston. Toys R Us filed for bankruptcy in September 2017 and closed its US stores in late June... J.C. Penney said it will initiate 3 preliminary store closings this spring as part of an ongoing evaluation of its store portfolio during the next few months. Locations were not disclosed...Gap Inc. will close its store at the CambridgeSide Galleria in East Cambridge, MA this month, where New England Development plans to convert 140,000 s/f of retail into office space. CambridgeSide’s 120,000 s/f Sears closed last year, opening up a significant chunk of space in the mall. Macy’s Inc. will close its Home and Kids store on the third floor in mid-2019 and move some of its merchandise into the main store, which will stay open on the second and third floors throughout the renovation….Chico’s FAS will close 250 stores over the next three years. As of November, the company operated about 1,400 US stores...Gymboree Group Inc. will shut down after going bankrupt a second time. The retailer, which operates 945 stores under three brands in the US and Canada, plans to close its Gymboree and Crazy 8 chains after failing to find anyone to buy them. A unit of Goldman Sachs Group Inc. is leading bids for Gymboree’s higher-end Janie and Jack business.