Thursday, June 27, 2019

Accelerating Retail

ZIPS Dry Cleaners has a development pipeline of more than 250 franchise stores slated to open over the next 3 years. ZIPS has nearly 60 locations in 8 states…Fast-casual restaurant Coolgreens has 6 locations, and plans to open 8 more US units by the end of 2019…Dollar General plans to open 975 new stores, remodel 1,000 locations, and relocate 100 stores during fiscal 2019….Burlington Stores will open a net of 50 new stores during the fiscal year…For Five Coffee will open at 2 office buildings in Northern VA. The company has 6 locations in New York, with 2 more planned, plus 2 in Los Angeles and 1 in Chicago...CVS Health will open additional HealthHubs in Houston, Atlanta, Philadelphia/ New Jersey and Tampa this year. Long-term, it plans to have a total of 1,500 HealthHubs operating by the end of 2021... Versace plans to open more than 100 stores by 2022. The brand’s owner, Capri Holdings Ltd., said it’s planning to increase Versace’s global footprint from about 188 stores to 300 stores by 2022 while renovating existing locations. A full refurbishment program is expected for 28 US Versace stores...Krispy Kreme plans to open a 4,500 s/f flagship store in early 2020 in Times Square...Cannabis/CBD brand Green Growth has opened more than 50 shops under its Seventh Sense banner during the past four months, and expects to open over 200 shops this year. Green Growth had announced a partnership with Brookfield Properties to open more than 70 shops at Brookfield’s US shopping centers throughout the United States...Online women’s shoe brand Rothy’s will open 5 stores this fall and promises more in 2020. The 5 locations will be in the New York’s West Village, on Boston’s Newbury Street, Georgetown in Washington, DC, and 2 in Los Angeles...Neighborhood Goods will open its second location, in Manhattan’s Chelsea Market.. Neighborhood Goods made its debut in late 2018, at Legacy West in Plano, Texas…Fat Brands has acquired Elevation Burger in a $10 million deal.  Elevation Burger franchises 44 locations in the U.S. Fat Brands has made several acquisitions since it was taken public in 2017, including Ponderosa and Bonanza steakhouses, Hurricane Grill & Wings and Yalla Mediterranean. The company’s chains now operate more than 400 restaurants... Tru Kids Inc. CEO Richard Barry, former executive at Toys ‘R’ Us, plans to open a half-dozen Toys ‘R’ Us stores in the US for the 2019 holiday season. The new Toys ‘R’ Us stores will be about 10,000 s/f, about a third of the size of the closed ones. A new online store will open as well... Another Broken Egg CafĂ©, a restaurant concept that specializes in breakfast, brunch and lunch and closes at 2 pm, has signed 9 new franchise agreements, resulting in the development of 28 new units in the southern and western US. The company, which currently operates 68 locations in 12 states, has set a goal of 300 units by 2025... Pet Supplies Plus signed 22 agreements representing 46 new franchise store deals in the first half of 2019. The new stores will be developed across Texas, Florida, California, Michigan, Kentucky and New Hampshire. Pet Supplies Plus currently has in 460 locations in 33 states... Private equity firm L Catterton will acquire Del Frisco’s Restaurant Group for $650 million, subject to shareholder approval. L Catterton plans to run bartaco and Barcelona Wine Bar separately from De Frisco’s Grille and Del Frisco’s Double Eagle Steakhouse. L Catterton has invested in Bloomin’ Brands, Cheddar’s Scratch Kitchen, P.F. Chang’s, Uncle Julio’s, among others…Line Friends, an Asian brand based on characters from popular Japanese messaging app Line, opened its second US store on Hollywood Boulevard in Hollywood, CA.  Line Friends opened its first US store in 2017 in Times Square, followed by a Hollywood pop-up last year. Line Friends now operates some 140 global stores... Fried chicken chain The Crack Shack is set to expand beyond its home market of California this year. Since its debut in 2015, the brand has opened 4 more locations in Southern CA, including two in Los Angeles last year. A Crack Shack is scheduled to open at the Park MGM in Las Vegas in August.

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