Thursday, December 19, 2019

ACCELERATING NEWS

Expanding cannabis dispensary business MedMen is seeking  freestanding corner locations at major intersections, and has done 30-plus deals across the country. Former bank locations of about 3,500 s/f are preferred…Tupperware opened a holiday pop-up in downtown Manhattan, to be open through December…Bloomingdale’s opened its first new location since 2015, a three-level, 150,000 s/f store, at the newly opened SoNo Collection shopping center in Norwalk, CT…REI Co-op opened 4 new stores in a single day last month. By the end of the year, REI will have opened a total of 8 new stores…Wawa Inc. is gearing up expansion across Maryland. Wawa plans to open 5 new stores across the state in 2020. Over the next five years, it will also open 10 to15 more. Wawa operates more than more than 870 c-stores, with 600-plus offering fuel... H&M opened a 26,000 s/f store in downtown Detroit... Dave & Buster‘s opened 15 new stores last year and has already signed leases for 25 new stores, 11 of which are already under construction…LVMH has reached a deal to buy Tiffany & Co. at $135 a share in cash, or $16.2 billion. LVMH has a portfolio of luxury brands that includes Moët & Chandon, Dom Perignon, Givenchy and Louis Vuitton. The transaction is expected to close in the middle of 2020, subject to approvals...Japanese home retailer MUJI is about to embark on a US expansion, with 3 new stores scheduled to open in Seattle, Portland, and Santa Monica this year. The company operates more than 400 stores in Japan, hundreds across China and Europe, and 22 in the US and Canada…Tru Kids, which bought certain properties of Toys “R” Us after the chain filed for bankruptcy in 2018 and closed all its US stores, has opened 2 smaller and more interactive Toys “R” Us stores at Westfield Garden State Plaza, in Paramus, NJ and The Galleria in Houston…Value-priced fashion retailer Citi Trends will open 25 - 30 new stores annually and complete major remodels in 50 existing stores each year. Citi Trends currently operates 566 stores in 33 states...Target has signed a lease to open a 33,000 s/f small-format store on 42nd Street between 7th and 8th Ave. The store, projected to open in 2022, will be Target’s 10th small-format shop in the Manhattan area...Dollar General Corp. plans to open 1,000 stores in 2020, up from 975 in 2019. It also will undertake 1,500 store remodels and 80 store relocations...Primark will open 4 more US stores, including in the brand-new American Dream mall in East Rutherford, NJ. It also has signed a lease for a 45,000 s/f retail building on Chicago’s State Street, the biggest lease in that city’s Loop district since 2014. Two more US outlets will open in 2020 in Sunrise, FL and the Fashion District of Philadelphia, that city’s third Primark. Primark opened its first US store in Boston in 2015…Boot Barn will open at least 40 stores by the end of its 2021 fiscal year. The retailer of western and work-related footwear, apparel and accessories operates nearly 250 stores across the US…Lidl is acquiring 6 Shoppers Food & Pharmacy from United Natural Foods Inc. (UNFI), following the announcement that UNFI reached deals to sell 13 of its 43 Shoppers Food & Pharmacy stores to 3 grocery operators...Dine Brands will launch Flip’d by IHOP in April, about half of the size of a typical IHOP, with less seating and no wait staff. Customers order via a digital kiosk or move through assembly line at the counter. Online ordering for pick-up or delivery will also be available. IHOP is exploring sites in New York, Washington, D.C., Denver, Chicago and San Francisco...Lululemon opened a net of 19 stores in the quarter, ending with 479 total locations. Since the year-ago quarter, the retailer has opened a net of 53 new stores... Burlington opened 72 new stores and closed six in the last nine months, bringing its store count to 726…It’Sugar opened a three-level, 22,000 s/f store at American Dream in East Rutherford, NJ. A three-story replica of the Statue of Liberty covered in Jelly Belly beans stands outside the entrance.

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