Retail News & Views delivers critical store activity and mergers & acquisitions information for professionals in the retail, commercial real estate, and financial services industries. We then point you to our lists of relevant store location data which is compiled throughout the day by our in-house research team.
Lidl
Last Wednesday Lidl announced that it will be opening its first wave of stores in the U.S. this summer, ahead of schedule, with plans to open up to 100 locations across the East Coast within a year. Its previous plans called for its first wave to open no later than 2018. Lidl’s first 20 US stores will be opening in North Carolina, South Carolina and Virginia, where the Company first established its U.S. headquarters in 2015.
Click here for Lidl Denmark's full store list.
Fairway
Following Fairway Group Holdings’ emergence from a short stint in bankruptcy last year, the Company retained restructuring firm AlixPartners to help it reduce expenses. AlixPartners has reportedly completed its work, and the Company is now looking to sell its Bronx, NY warehouse facility. A sale of the facility will help trim operational costs. Although Fairway opened a 40,000 square foot store in a former Waldbaums location in the Georgetown section of Brooklyn in January, it currently has no further expansion plans; the Company operates 15 stores in New York, New Jersey and Connecticut. When it announced the Brooklyn store back in 2015, Fairway billed it as its future prototype store, with a smaller overall footprint and lower construction costs.
Click here for Fairway's full store list.
Publix
A 640,000 square-foot Publix distribution center in McCalla, AL announced in August 2015 is slated to open today. It is the Company’s first DC in the state; Publix currently operates seven DCs in Florida and one in Georgia. The facility, initially estimated to cost $34.0 million, will begin shipping to 80 stores throughout Alabama and Tennessee, and the Company projects that by the end of the year the distribution footprint will expand to 60 additional stores in Georgia as well as the Florida panhandle.
Click here for Publix's full store list.
Nordstrom
Nordstrom announced it will open a 46,500 square-foot Nordstrom Rack store in Manhattan, NY in the fall. It will occupy the first three floors of a newly constructed office/residential tower, located two blocks from Herald Square. Competing retail stores within five miles of the planned store include three Bloomingdale’s locations, one Neiman Marcus’ Last Call and one Saks Off 5th store. The nearest Nordstrom Rack stores are in Manhattan (near Union Square) and Brooklyn. Nordstrom operates 11 Rack stores in New York State.
Beyond 2017, the Company also plans to open its first full-price store in Manhattan in 2018, joining two Long Island locations in White Plains and Garden City, NY. It also expects to open a Nordstrom Rack location in Baltimore, MD in the spring of 2019. The 32,500 square-foot store will join four existing Rack locations in Maryland. Department stores operating within a five-mile radius of the Manhattan store include Kmart, Marshalls, Sears, Shoppers World, J.C. Penney and Burlington Coat Factory.
Click here for Nordstrom's full store list.
ShopRite
Shoprite Supermarkets will expand into New York’s Rensselaer County with a new 55,000 square-foot supermarket located in North Greenbush. It is slated to open later this year. Shoprite, a member of the Wakefern cooperative, currently operates 34 stores in New Jersey and New York.
Click here for ShopRite's full store list.
Target
Target recently announced it will invest $10.0 million to renovate its downtown Minneapolis, MN flagship store. The project, which is expected to begin in March and be completed by September, will add a large grocery department with grab-and-go options on the street level, an order pickup area on the skyway level, and expanded Starbucks and CVS Pharmacy locations. The store will also offer more self-checkout lanes and lighting upgrades. Target has plans for major renovations to its St. Paul Midway store this July and its St. Louis Park store in April. Nearly two dozen other stores around the Twin Cities metro area will see less significant renovations that will include additional self-checkout lanes and updated home and grocery departments, among other improvements, this year.
Click here for Target's full store list.
Trader Joe's
Trader Joe’s will close its location in Towson, MD on March 16 and open a new store the following day at the Shops at Kenilworth, also in Towson. The new store is about 500 square feet larger than its predecessor, which is located less than 1.5 miles away.
Click here for Trader Joe's full store list.
Future Retail Store Closings
AggData monitors upcoming retail store closings throughout the day and maintains an active database of store locations and anticipated closing dates. Here is a sample of recently announced store closings.
Please contact AggData to request a full future store closing list.
Weis Markets
Weis Markets will open a 65,000 square-foot superstore in Hampden Township, PA on March 9. The store will include a food court, its first in-store pub, ice cream parlor and gas pumps. It will serve as a flagship for its new layout and design. The store is directly across the street from a Giant Food Store that opened more than two years ago. There are a total of eight competing food retail stores within five miles of the planned store, including one ALDI, three Giant Carlisle, a Grocery Outlet, Save-A-Lot, Wegmans and one other Weis Markets store. Weis Markets operates 204 stores in Pennsylvania, Delaware, Maryland, New Jersey, New York, Virginia and West Virginia.
Click here for Weis Market's full store list.
Ahold Delhaize
Ahold Delhaize’s bfresh division, a small-format, fresh food-driven urban concept, recently opened its third store in Somerville, MA. The 11,000 square-foot unit offers a selection of store brand products, organic produce, and an in-store Dunkin’ Donuts (the two companies share a seating area and restrooms, and will open and close around the same time). The Little Kitchen is filled with pre-made snacks, sandwiches, salads, baked goods, and sushi. The Somerville kitchen will be the “hub” of bfresh and will distribute prepared items to its other two locations in Allston and Brighton.
The Stop & Shop Supermarket Company, also a division of Ahold Delhaize, has filed plans to develop a new residential neighborhood between Allston and Brighton, MA. In the filing, the Company outlined plans to redevelop its existing store in Allston and build a combined 1,010 residential units, office space and ground-floor retail and restaurant space. The project is being dubbed “Allston Yards.”
Click here for Stop & Shop's full store list.
Sheetz
Sheetz recently opened a new, larger store in York Township, PA, replacing a nearby site that closed in spring 2016. The new 6,010 square-foot location is the Company’s 12th in York County. Sheetz operates more than 500 locations in Pennsylvania and five other states.
Click here for Sheetz's full store list.
ALDI
On March 1, ALDI will open a store in Lenoir City, TN. ALDI has several other locations in East Tennessee, including stores in Knoxville, Maryville, Morristown, Oak Ridge and Sevierville.
Click here for ALDI's full store list.
Restaurant Brands International
Yesterday, Restaurant Brands International Inc. (RBI), owner of Burger King and Tim Hortons, announced that it reached an agreement with Popeyes Louisiana Kitchen, Inc. (Popeyes) for RBI to acquire Popeyes for $79.00 per share in cash, or $1.80 billion, a 19.5% premium over its closing price on Friday. RBI will fund the transaction with about $600.0 million cash on hand and a $1.30 billion financing commitment from J.P. Morgan and Wells Fargo. The transaction is expected to close by early April. Following the closing of the transaction, Popeyes will continue to be managed independently in the U.S. RBI plans to accelerate developing the brand in the U.S. and international markets over the next few years. Popeyes is the franchisor and operator of Popeyes restaurants, the world’s second-largest quick-service restaurant chicken concept, with over 2,600 locations in the U.S. and 27 foreign countries. Popeyes is 98% franchised, with approximately 23% of its restaurants located internationally.
Click links above for full store lists.
Wendy's
Aa new Norfolk, VA-based franchisee has purchased 30 Wendy’s restaurants across Hampton Roads, VA and plans to expand. Delight Restaurant Group purchased stores in Virginia Beach, Norfolk, Chesapeake, Portsmouth and Franklin. The Company said the stores have generated $50.0 million in annual revenue. Wendy’s has been renovating existing stores and focusing on franchising since 2012, selling 537 stores last year. Delight Restaurant Group plans to expand the Wendy’s footprint within the region and eventually elsewhere in Virginia and surrounding states.
Click here for Wendy's full store list.
Walmart
On February 13, Walmart acquired Moosejaw, an online outdoor retailer with 10 physical stores. Moosejaw will join the Walmart U.S. eCommerce organization. Moosejaw carries more than 400 brands and offers an extensive assortment of apparel and gear for climbing, hiking, camping, snow sports, yoga, swimming and biking. Moosejaw will continue to operate its website and stores and will be run as a standalone and complementary brand to Walmart’s other e-commerce sites.
Click here for Walmart's full store list.
Ollie's Bargain Outlet
Ollie’s Bargain Outlet’s new 30,000 square-foot store in Orange Park, FL is expected to open by the third or fourth quarter of 2017. It will be the Company’s second in the Jacksonville area after opening a store last summer. There are six competing mass merchandise stores within three miles of the planned store, including a Big Lots, a Dollar Tree, two Dollar Generals, a Walmart and a BJ’s Wholesale Club. The Company operates six stores in the state and a total of 225 locations.
Click here for Ollie's Bargain Outlet's full store list.
99 Cents Only Stores
On March 2, 99 Cents Only Stores will open a new store in Montebello, CA. It will feature a perishable food department, including produce, dairy and frozen foods. The Company currently operates about 230 stores in the state (close to 75% of its store base).
Click here for 99 Cents Only Store's full store list.
Macy's
Macy’s fourth quarter sales decreased 4% to $8.52 billion, and comps on an owned plus licensed basis were down 2.1%. Profit fell 12.7% to $475.0 million. In fiscal 2016, the Company’s asset sales totaled $673.0 million in cash proceeds, including $209.0 million in book gains. Macy’s continues to take advantage of real estate opportunistically where the value of the real estate as a redevelopment exceeds that of non-strategic operating locations. In addition, the Company is closing less-productive stores and selling the associated real estate. Macy’s completed the previously announced sale of its Union Square Men’s building in San Francisco, CA for $250.0 million in gross proceeds; the Men’s Store will be incorporated into the main store, which will also undergo remodeling, as street-level selling space will be converted into high-end luxury retail shops that will be leased to third parties. Macy’s is also exploring strategies to enhance value at its Herald Square store in New York City. The Company also expects to close shortly on the previously announced sale of its downtown Minneapolis, MN store. To further create value from its real estate portfolio, the Company continues to work with Brookfield Asset Management on approximately 50 identified assets. Contemplated developments include retail, as well as alternative uses, such as multifamily housing, hotels and offices. The projects range from the complete ground-up redevelopment of a building to the development of parcels in a parking area, while maintaining a store presence. Macy’s also indicated that its previously announced CEO transition will occur on March 23; at that time Jeff Gennette, president of Macy’s, will assume the CEO role, and Terry Lundgren will continue as executive chairman.
Click here for Macy's full store list.
Stein Mart
Stein Mart will open five stores this spring as part of its plan to open 11 stores during 2017. The five locations are scheduled to open in Marietta, GA (March 9); Bainbridge Township, OH (March 16); Brentwood, TN (March 16); Auburn, AL (March 23); and Cincinnati, OH (March 30). In addition, Stein Mart is relocating one store from Morrisville, NC to a new location in Cary, NC on March 30. The remaining six stores are slated to open in the fall, and the Company also plans to close five underperforming stores during 2017.
Click here for Stein Mart's full store list.
Whole Foods Market
Whole Foods Market will open a new store in Garden City, NY, joining existing Long Island locations in Manhasset, Jericho and Lake Grove as well as a Commack store scheduled to open in 2019. The 50,000 square-foot unit is expected to open in 2020.
Click here for Whole Foods Market's full store list.
MC Sports
On February 14, Michigan Sporting Goods Distributors, DIP filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court in the Western District of Michigan. The Honorable John T. Gregg has been assigned to the case. The proceedings have been assigned case number 17-00612. Documents in the filing state that the Company plans to liquidate all 68 of its stores; store closing sales began on February 14. Tiger Capital Group, LLC and Great American Group, LLC have been retained to manage the store closing sales. As of February 14, the Company owed $27.6 million in trade and other unsecured obligations to vendors, suppliers, and other ordinary course contractors. According to filings, “Given the seasonal timing of Debtor’s inventory purchases, and because Debtor has been on credit hold with many vendors, Debtor does not anticipate that there will be a material amount of 503(b)(9) or reclamation claims.”
Click here for MC Sport's full store list.
Limited Stores
Limited Stores, LLC, DIP entered into an asset purchase agreement on January 17 with Sycamore Partners as the stalking horse bidder. On February 21, Sycamore was named the winner of the auction for Limited Stores’ assets, with a $26.75 million offer. The bid was increased $1.0 million from its original stalking horse bid as a result of interest from Sunrise Brands LLC. A bankruptcy judge will rule on the auction results on February 23. Limited Stores has closed all 250 stores it had operated.
Click here for Limited Store's full store list.
Aaron's
Aaron’s fourth quarter sales decreased 3.2% to $795.0 million, and profit slipped 0.4% to $21.6 million. Aaron’s Business sales decreased 14.5% to $463.5 million, and comps were down 5.8%. In May 2016, the Company completed the sale of its HomeSmart business; excluding the sale, revenues decreased 12% during the quarter. Lease revenue and fees decreased 6%, excluding HomeSmart, and non-retail sales decreased 29.5%. Company-operated Aaron’s stores had 973,000 customers at the end of 2016, a 6% decrease from the prior year. During the quarter, 61 Company-operated stores and four franchised stores were closed, and two Company-operated stores were sold to a third party, ending with 1,165 Company-operated stores and 699 franchised stores. Aaron’s has identified another 70 stores to be closed during the second quarter of 2017, which resulted in a pre-tax charge of $2.0 million during the fourth quarter.
Click here for Aaron's full store list.
Advance Auto Parts
Advance Auto Parts reported fourth quarter sales increased 2.4% to $2.08 billion. The increase was driven by comp growth of 3.1%, the positive impact of the year-over-year comparable benefit from holiday timing, and new store and Worldpac branch openings; sales were offset by store closures and Carquest store consolidations. Profit rose 13.8% to $62.4 million. As of December 31, the Company operated 5,062 stores and 127 Worldpac branches, and served about 1,250 independently owned Carquest stores.
Click here for Advance Auto Part's full store list.
AMC Entertainment
Following its $1.20 billion acquisition of Carmike Cinemas in December 2016, AMC Entertainment Holdings has listed for sale the former Carmike Cinemas headquarters in Columbus, OH. The office complex totals 85,000 square feet, of which 65,000 square feet is available for sale. City records list the market value of the structure at $4.3 million. A nearby Carmike structure, primarily used as a storage warehouse, is also for sale; the 22,000 square-foot building has a market value of $590,000.
Click here for AMC Entertainment's full store list.
Here is a small sample of retailer store location lists that have been updated this week. Click on the links below to get the full store listings.
1. HMV Canada (02-22-2017)
2. BB&T (Branch Banking and Trust) (02-22-2017)
3. Staples (02-21-2017)
4. Gordmans (02-21-2017)
6. Nike (02-21-2017)
7. Jewel-Osco (02-21-2017)
8. Shaw's (02-21-2017)
9. Acme Markets (02-21-2017)
10. Equinox Fitness Clubs (02-21-2017)
11. Petland Discounts (02-21-2017)
13. Stage Stores (02-21-2017)
15. 16 Handles (2-21-2017)
