Wednesday, October 23, 2019

ACCELERATING NEWS

purchase of Del Frisco’s Restaurant Group and has an agreement to sell Del Frisco’s Double Eagle Steakhouse and Del Frisco’s Grille to Landry’s for an undisclosed sum. The company operates high-end steak chains such as Morton’s, Mastro’s, Vic & Anthony’s, Strip House and Brenner’s…Multi-concept owner Inspire Brands has entered into an agreement to acquire Jimmy John’s Sandwiches. The financial terms of the transaction were not disclosed. Inspire owns the Arby’s, Buffalo Wild Wings, Sonic Drive-In and Rusty Taco brands which total about 8,300 locations worldwide. Jimmy John’s has more than 2,800 locations across 43 states...Wegmans opened its 100th store this month, a 104,000 s/f store in Raleigh, NC…Wawa plans to open 40 convenience stores in Northern VA during the next 15 years, the first in April 2020. Wawa is on track to open 63 stores this year. The company currently operates more than 870 US stores…Designer handbag reseller Rebag opened its 8th brick-and-mortar location, at Roosevelt Field mall, Garden City, NY. Rebag plans 30 locations in the medium term…Dollar General opened its 16,000th store this month with a location in Panama City, Florida.  The Company plans to expand its presence to 46 states by adding locations in Wyoming and Washington in 2020... Amazon reportedly has signed leases for and will open more than 12 brick-and-mortar grocery stores in greater Los Angeles. The stores will operate separately from Whole Foods, and measure about 35,000 s/f. Amazon plans additional grocery stores in other US markets...Dick’s Sporting Goods opened 5 Dick’s stores and 2 Golf Galaxy stores this month. The company has a total of 732 Dick’s Sporting Goods stores and 95 Golf Galaxy stores in 47 states. Dick’s has also entered into an agreement with Sportsman’s Warehouse Holdings Inc., which will acquire 8 of Dick’s Field & Stream locations, to be rebranded under the Sportsman’s Warehouse banner. Three are located in Pennsylvania, two in New York, two in North Carolina, and one in Michigan.   Dick’s has been evaluating its hunting business, including its 35-store Field & Stream division…RH opened a three-level, 60,000 s/f store at The Gallery in Edina, a suburb of Minneapolis. RH is set to open 2 additional locations this year, in Columbus, OH, and Corte Madera, CA…VSP Global has completed the acquisition of Visionworks, which operates more than 700 stores in nearly 40 states. Visionworks will continue to operate independently...The Cheesecake Factory has completed its  acquisition of Fox Restaurant Concepts (FRC). They will essentially operate as two companies, each with its own headquarters. FRC grew its North Italia concept to 21 locations in 10 states. Now the brand becomes part of Cheesecake, which has disclosed plans to open 4-5 North Italias in 2020, roughly the same as the number of Cheesecake-brand restaurants expects to open. Other FRC brands to be transferred to Cheesecake’s portfolio include Flower Child; Doughbird; Culinary Dropout; The Arrogant Butcher; and Wildflower...Von Maur department store will open an 85,000 s/f store at West Towne Mall in Madison, WI, Von Maur’s second location in that state, part of a targeted national growth strategy. Von Maur operates 35 stores in 15 states…Whole Foods Market will open a new Mid-Atlantic flagship store in Tysons Corner, VA this month, its 10th store in Virginia. Whole Foods is also opening stores in Seattle, Beverly, MA, and Long Beach, CA this month. In November, the grocer plans to open new stores in Tempe, AZ., and Parsippany, NJ…Costco Wholesale Corp. will open about 15 new US stores in the new fiscal year, and about 25 new stores worldwide. The company opened 10 new US units and relocated 2 stores in the recently completed fourth quarter. Costco now operates 544 US locations...Giant Food Stores plans to open 3 rebranded stores next month in Pennsylvania’s Lancaster and Lebanon counties from its acquisition of Musser’s Market. Giant also plans to open a 65,000 s/f flagship store in the River Walk mixed-use development in Philadelphia. This is Giant’s first two-story store and its second full supermarket in the city. Part of Ahold Delhaize USA, Giant currently operates 181 stores under the Giant, Martin’s Food Markets and Giant Heirloom Market banners in Pennsylvania, Maryland, Virginia and West Virginia…McAlister’s Deli signed its largest development deal in company history. As part of the deal, McAlister’s Deli will develop 47 restaurants over the next 7 years. McAlister’s Franchisor SPV LLC currently has more than 450 restaurants in 27 states and is part of the Focus Brands family, including Auntie Anne’s, Carvel, Cinnabon, Jamba, Moe’s Southwest Grill, and Schlotzsky’s Austin Eatery…INDOCHINO opened its 50th US showroom, in Washington, DC…JackRabbit, a retailer of athletic footwear, apparel, and accessories owned by affiliates of CriticalPoint Capital announced the acquisition of the Olympia Sports brand from retail sporting goods company Olympia Sports. Olympia currently operates stores in the Northeast US...Ross Stores Inc. opened 30 new Ross Dress for Less and 12 dd’s Discounts stores across 19 different states in September and October, completing the company’s plans for 98 new stores in fiscal 2019. Together, Ross Dress for Less and dd’s Discounts operate 1,811 stores.

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