Thursday, July 18, 2019

ACCELERATING RETAIL NEWS

Hooters of America has been acquired by Nord Bay Capital and TriArtisan Capital Advisors. Details of the deal were not disclosed. Previous owners Chanticleer Holdings and H.I.G. Capital will retain stakes in the chain. Hooters of America is the franchisor and operator of more than 430 Hooters restaurants in 38 states and 27 countries…Duluth Trading Co. opened its first store in Georgia last month, Duluth’s 55th location nationwide. The company has opened 10 to 11 stores in 2018 and plans to open another 15 this year…Qdoba Mexican Eats and multi-unit operator Premier Queso Kings, LLC are partnering for a 20-unit deal to develop locations in Atlanta and Alabama. The first Atlanta restaurant should open later this year or early next year. Qdoba has more than 750 restaurants in the US and Canada. Premier Queso Kings owns and operates more than 200 restaurants…VSP Global has entered into a definitive agreement to acquire  Visionworks, subject to completion of regulatory approval. With a footprint of more than 700 stores in nearly 40 states, the Visionworks acquisition will be the single largest VSP network investment in the company’s history... Target plans to open 3 more small-format stores on or near university campuses: a 20,000 s/f store on the University of Kentucky campus, a 22,000 s/f store on the Michigan State University campus; and a 21,000 s/f store near the University of Washington in Seattle. Currently, Target operates almost 100 small-format stores, 23 of which are on or near college campuses in 13 states, including 10 locations opened last year. The retailer said it’s looking to open about 30 of the small stores annually over the next several years…uBreakiFix opened 25 new stores in the second quarter, bringing the brand’s total footprint to 522 stores across North America...Big Lots will re-open 17 remodeled stores throughout the Nashville area this month. Big Lots operates approximately 1,400 stores in 47 states... Primark is expanding its US footprint with its first store in the Midwest, in downtown Chicago. Primark will take over a 45,000 s/f building in the heart of the Loop. Primark, based in Ireland and owned by Associated British Foods, opened its first US store in Boston in 2015. The retailer now has 9 US locations, all in the Northeast. Primark is on track to open stores at Sawgrass Malls, Sunrise, FL, and at the American Dream mega-mall in New Jersey during the next 12 months…Crate and Barrel opened its first-ever in-store restaurant, “The Table at Crate,” in its store at Oakbrook Center, Oak Brook, Il. The full-service restaurant is a collaboration between Crate and Barrel and Cornerstone Restaurant Group, its first venture into the retail space. The Table at Crate integrates the dining and retail experience across two levels of indoor and outdoor space. Most of the featured tableware, chairs and table are for sale in the store. The Table at Crate is open for lunch, afternoon tea, and dinner, plus coffee service throughout the day. Crate & Barrel plans to increase the number of new stores with integrated restaurants, wine vaults, and barista bars... ZIPS Dry Cleaners active franchise pipeline includes more than 250 stores set to open over the next several years, adding markets such as Dallas, Houston, Atlanta, Chicago, Portland, OR, and Columbus, OH in the near future, with another 20 markets in the next five years. ZIPS currently has more than 60 locations... Cinnamon roll bakery Cinnaholic has opened 10 franchise locations since January in new markets including New Jersey, Houston, Phoenix and Ottawa, and Ontario, bringing its total location count to 38 units…Lululemon Athletica has opened its largest experiential store to date, a two-level, 20,000 s/f location in Chicago’s Lincoln Park neighborhood. It includes the company’s first-ever restaurant and 3 studio spaces.

No comments:

Post a Comment