Wednesday, May 29, 2019

Accelerating Retail News

Foot Locker will open a 25,000 s/f “power store” in Washington Heights, Manhattan this fall. The format serves as a hub for local sneaker culture, art, music and sports…Amazon Go has opened its 3rd store in San Francisco, for a total of 11 locations to date... Papa John’s opened its 2,000th restaurant outside of North America…Vegan fast-casual restaurant By CHLOE plans to expand from 13 to more than 50 US locations by 2023…Great Harvest Bread Co. has signed franchise agreements with new and existing franchisees that will bring the bakery-cafe concept to 5 additional markets in the west and northeast. Great Harvest operates nearly 200 US locations...After a pilot in 13 CVS stores, SmileDirectClub will open “SmileShops” in hundreds of CVS locations in 2019, with the potential to expand to more than a 1,000 stores during the next several years. This will more than double the current physical footprint of SmileDirectClub…Blaze Fast-Fire’d Pizza is seeking strategic expansion throughout Washington, DC as part of a plan to reach 500 locations by 2021. Blaze currently has 300 restaurants in 41 states and 5 countries…Indochino will open 3 stores in New York, New Jersey, and Connecticut this year and into 2020. Indochino opened its 44th location last month in Greenwich, CT...Tru Kids Brands, a licensing firm formed last year by Toys ‘R’ Us creditors, plans to open a handful of US stores in time for the holidays that will span about 10,000 s/f each. The 600 stores that were shuttered last spring typically spanned 20,000 - 50,000 s/f. Tru Kids owns both the Toys ‘R’ Us and Babies ‘R’ Us brands...Luxury bridal brand Floravere has opened its first permanent physical location, in the Tribeca neighborhood of Manhattan…Nordstrom will open Nordstrom Local stores in Manhattan this fall, in the West Village and on the Upper East Side. Nordstrom Local debuted in October 2017, in Los Angeles. Two additional LA locations have since opened…Lidl will open 4 stores throughout the state of NY by early 2020. Lidl US has an East Coast expansion strategy calling for 25 new stores within the year, and expects to top the 100-store mark in the US by the end of 2020, with locations in 9 states...Planet Fitness will open 225 gyms this year, some located in sites that Toys “R” Us or Sears once occupied, though the company declined to give a specific number. The chain has more than 1,800 US gyms…Dollar General  opened its 1,500th location, in Texas...Dunkin’ has signed development agreements to open 50 new locations over the next few years in Texas, Michigan, Kentucky, Minnesota, Wisconsin, North Carolina, Nevada, and Missouri. Dunkin plans to add 200-250 net new US restaurants each year over the next 3 years...Restaurant Brands International (RBI), parent company of Burger King, Popeyes Louisiana Kitchen and Tim Hortons, plans to grow from its current total of approximately 26,000 restaurants to more than 40,000 locations globally during the next 8-10 years. Of its three brands, Burger King is the largest, with some 18,000 locations in more than 100 countries. Tim Hortons has more than 4,800 system wide restaurants in Canada, the US and around the globe. Popeyes has more than 3,100 restaurants…Direct-to-consumer luggage brand Away plans to grow its physical footprint, opening 50 new stores during the next 3 years. The brand currently has locations in New York, Los Angeles, San Francisco, Austin, Chicago, Boston, and London... Sears has unveiled its first Sears Home & Life stores with openings in Louisiana, Illinois and Alaska. The apparel-free, smaller-sized format (10,000 to 15,000 s/f) is focused on home products and services…Ross Stores is on track to open approximately 100 locations in 2019, comprised of 75 Ross and 25 dd’s Discounts. The company operates 1,502 Ross stores in 38 states and 243 dd’s Discounts stores in 18 states…TBC Corp. expects to add 27 company-owned stores to its network in 2019 under the NTB Tire and Service Center and Tire Kingdom Service Center banners. The company has opened 9 new stores this year — 5 NTB stores and 4 Tire Kingdom locations. By the end of the year the company will have more than 735 company-owned stores.

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