Openings, Closings, & Other Key Industry Highlights

Retail News

Powered by

Premier Source For Location Data

Kroger

As part of its initiative to invest nearly half a billion dollars to expand in central Indiana, Kroger has announced plans for a new Marketplace supercenter in Indianapolis, its fifth in the highly competitive market. Meanwhile, Marsh Supermarkets closed a store in Indianapolis over the weekend, following another Marsh closure about three weeks ago. The closures leave the Company with 67 locations in Indianapolis, down from 73 at the end of 2015. The Company said it has no plans to close additional stores in the market, but it has now closed 18 stores in the past three years, against just one new store opening since Sun Capital acquired the chain back in 2006. Meijer recently added another supercenter in the market, its 12th location, and Fresh Thyme Farmers Market continues to expand there as well. It now operates six stores in Indianapolis. ALDI and Save-A-Lot have both added several stores in recent years. Whole Foods also has plans for a new downtown stores, expected to open by the end of this year. According to Nielsen, as of January 2017 Kroger was the market leader in Indianapolis with 50 stores and a 31% market share, followed by Walmart with 32 stores and a 26% market share, and Meijer with 13 stores and a 13% market share.

Kroger plans to open its newly-expanded 69,000 square-foot Corryville, OH location on March 9; it is almost 30,000 square feet larger than the previous store. The Company invested $25.0 million in its first multi-floor format in the region, as it experiments with new urban designs. The first floor offers shopping, while the second floor will feature a beer station and a bar.

Click here for Kroger's full store list.

 

Remke Markets

Remke Markets, a 10-store chain in greater Cincinnati and northern Kentucky, has reportedly been acquired by Fresh Encounter. Financial terms of the sale weren’t disclosed. Remke Markets has closed three stores since 2015, locations that were originally part of the six-store bigg’s grocery chain Remke acquired from Supervalu in 2010. Founded in 1995, Fresh Encounter, operates about 30 stores throughout Ohio and eastern Indiana under a number of banners including Community Markets, Great Scot, Sack ‘N Save Supermarket, and Chief Markets. Remke’s 10 stores are currently being serviced by Supervalu but the acquisition could shift its supply business to SpartanNash, which supplies Fresh Encounter.

Click here for Remke Markets' full store list.

 

JCPenney

On Friday, J.C. Penney Company reported comps fell 0.7% during the fourth quarter, and EBITDA fell 3.5%. Women’s apparel was the weakest-performing category, and on its quarterly conference call management admitted merchandising mistakes. Additionally, the Company announced that it expects to close two distribution facilities and approximately 130 – 140 stores over the next few months. A list of stores to close will be released in mid-March. Most of the stores are expected to be small and located in rural markets. The total store closures represent approximately 13% – 14% of the Company’s current store portfolio, less than 5% of total annual sales, less than 2% of EBITDA and 0% of net income. This latest store closure announcement comes as Macy’s also plans to eliminate 100 stores this year, while Sears plans to close 150 stores, including 108 Kmart locations

Click here for JCPenney's full store list.

 

Nordstrom

Nordstrom’s fourth quarter sales increased 2.9% to $4.32 billion, but comps slipped 0.9%. By segment, full-line Nordstrom sales decreased 1.1%, and comps were down 2.7%; Nordstrom Rack sales increased 10.7%, and comps were up 4.3%. Profit rose 11.7% to $201.0 million. During 2016, the Company reached record sales of $14.76 billion, continued market expansion into Canada, reached $2.50 billion in full-price online sales and $700.0 million in off-price online sales, and Nordstrom Rewards active customers increased 56% to 7.8 million. Looking to fiscal 2017, Nordstrom announced plans to open one new full-line store and 15 new Nordstrom Rack stores; it also expects to relocate two full-line stores and one Nordstrom Rack.

Click here for Nordstrom's full store list.

 

Starbucks

Starbucks will close its two remaining Evolution Fresh juice stores this spring, though the Company will continue to produce the packaged juices sold under that brand name. Evolution Fresh packaged juices will continue to be sold at Starbucks and grocery stores. Starbucks bought Evolution Fresh in 2011 for a reported $30.0 million – $50.0 million. It opened four store in 2012 in Bellevue (closed in September 2016), downtown Seattle, San Francisco (closed in 2015), and Seattle’s University Village. The stores served juices and smoothies as well as prepared foods including salads, grain-based bowls and soups. The decision to close the final two stores comes after Starbucks debuted four new juice flavors in March of last year.

Click here for Starbucks' full store list.

 

 

Associated Grocers (Baton Rouge, LA)

According to published reports, a subsidiary of Associated Grocers (Baton Rouge, LA), Apple Core Properties LLC, which distributes products to grocers in Louisiana, Texas and Mississippi, has purchased the former Martin Brower food distribution center in Port Allen, LA for nearly $2.0 million. The deal reportedly closed earlier this month. Martin Brower, the largest distributor of products to McDonald’s restaurants, moved its local operations to Walker, LA in late 2016. The 53,800 square-foot building features a mix of office, storage, cooler and freezer space, along with loading docks.

Click here for Associated Grocers' (Baton Rouge, LA) full store list.

 

Kohl's

Kohl’s Corporation’s fourth quarter sales decreased 2.8% to $6.21 billion, and comps were down 2.2%. Profit fell 14.9% to $252.0 million. CEO Kevin Mansell commented, “Sales results were weak for the quarter in total, driven by declines in brick and mortar traffic, and offset somewhat by strength in online demand. We saw improvement in merchandise margin, and our team continued to manage inventory and expenses extremely well. In 2017, we will accelerate our focus on becoming the destination for active and wellness with the launch of Under Armour in early March. We will also extend our efforts on improving our speed to market across all of our proprietary brands into all apparel areas and home.” During fiscal 2016, Kohl’s opened nine small-format stores, closed 19 underperforming locations, and opened two Off/Aisle locations and 12 FILA outlets.

Click here for Kohl's full store list.

 

Lidl's

Lidl has reportedly begun hiring 800 people across Virginia this week, for locations in 12 markets in the state. Lidl now plans to open its first stores in the U.S. this summer.

Click here for Lidl Denmark'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.

 

Cumberland Farms

Following a $15.0 million renovation, Cumberland Farms’ distribution center in Westborough, MA now accommodates 600 employees, up from a previous 313. The massive building houses its business office, which was formerly in Framingham, along with distribution operations and a culinary center. The structure covers 13 acres and has a 28,000-square-foot freezer and refrigeration center. The latest expansion follows a $20.0 million renovation at the facility in 2014.

Click here for Cumberland Farm's full store list.

 

Ahold Delhaize

Ahold Delhaize’s Food Lion division announced that it will invest $178.0 million to remodel 93 stores in the greater Greensboro, NC market in 2017. This includes remodeling the stores, additional price investments and investments in associates and the community. Greensboro is the fifth market to be remodeled, and the stores are expected to be completed on a rolling basis between March and August. Food Lion will continue to launch enhancements across its more than 1,000 stores in 2017 and remodel additional markets over time. The Company previously completed 142 stores in greater Charlotte in 2016, 162 stores in the Raleigh metro area in 2015, along with 76 stores in the greater Wilmington and Greenville markets in 2014.

Click here for Food Lion's full store list.

 

Gap

Gap’s fourth quarter sales increased 1% to $4.43 billion, and comps were up 2%. By brand, comps were up 1% at Old Navy, down 3% at Gap and down 7% at Banana Republic. This was Old Navy’s fifth consecutive year of net sales growth and market share gains, particularly in dresses, denim and knits. Athleta grew its footprint to 132 U.S. store locations as of the 2016 year end, and the brand is scheduled to open about 15 additional U.S. stores in 2017. As a result of positive growth, albeit offset by foreign currency fluctuations, profit rose 2.8% to $220.0 million. CEO Art Peck said, “We’re pleased to finish the year strong, with positive comp and sales growth during the critical holiday quarter. Going forward, we will maintain our focus on improving the quality and relevance of our products, increasing our responsiveness to trends and demand, and creating more synergy across channels to deliver the experiences our customers want and expect, however they choose to shop.”

Click here for Gap's full store list.

 

Foot Locker

Foot Locker’s fourth quarter sales increased 5.3% to $2.11 billion, and comps were up 5%. Profit rose 19.6% to $189.0 million. CEO Richard Johnson said, “Generating our seventh consecutive year of meaningful sales and profit growth is a strong testament to Foot Locker’s solid position at the center of sneaker culture. Due in part to the change in the cadence of income tax refund check distribution, we are facing a challenging retail sales environment as we enter 2017; however, we believe the strategic initiatives we have in place, coupled with our strong vendor relationships, will enable us to deliver another year of record performance.” During the fourth quarter, the Company opened 20 new stores, remodeled or relocated 59 stores, and closed 51 underperforming locations. As of January 28, the Company operated 3,363 stores in 23 countries.

Click here for Foot Locker's full store list.

 

Sprouts Farmers Market

Sprouts’ fourth quarter sales rose 6%, or 14% on a 13-week comparable basis, due to 0.7% comp growth and incremental revenues from 36 new stores opened over the past year. Comps continue to be impacted by cannibalization effects as well as deepening deflation, which reached 2.5% during the quarter. In the Company’s earnings call, management attributed positive results to a strong holiday sales program and growing private-label sales. On a comparable basis, net income fell 30% to $17.0 million, partly due to $3.0 million in payments associated with the former board chairman’s retirement. For fiscal 2016, sales increased 15% to $4.05 billion on a 52-week comparable basis, while comps rose 2.7%. During the fourth quarter, Sprouts opened three new stores: one each in California, Oklahoma and Texas. For fiscal 2016, it opened a total of 36 stores, which resulted in unit growth of 17% and a total of 253 stores in 13 states as of January 1.

Looking ahead at fiscal 2017, the Company expects sales growth of 12% – 13%, comp growth of 0% – 1%, and EPS of $0.86 – $0.90 (EPS was $0.85 in fiscal 2016). It expects to open 32 new stores this year, with capex of $155.0 million – $165.0 million, slightly lower than fiscal 2016 capex of $167.0 million.

In other news, Sprouts opened its first Florida store last Wednesday, in Tampa. The store stands at 27,000 square feet. There are a total of 11 competing food retail stores within three miles of the new store, including four Publix, four Winn-Dixie stores, a Fresh Market, an ALDI and a Whole Foods. The Company plans to open its second and third Florida stores in Sarasota and South Tampa in April and May, respectively. 

Click here for Sprouts Farmers Market's full store list.

 

Grocery Outlet

Grocery Outlet and CVS will replace the Haggen supermarket in Redondo Beach, CA that was vacated when the Company filed for bankruptcy in late 2015. Each store will be about 13,000 square feet with an anticipated opening in 2018. This will be the first Grocery Outlet in the South Bay. The two nearest stores are in Long Beach and Compton.

In other news, Grocery Outlet recently announced its next round of California stores including a store in Burbank that opened earlier this month, and stores in Paramount (March 2), Santa Barbara (April 6), two stores in San Diego (one to open this spring and the other in summer 2017), and Fallbrook (summer 2017).

Click here for Grocery Outlet's full store list.

 

Raley's

Raley’s plans to open a Nob Hill Foods store in Santa Clara, CA in October. The 24,000 square-foot store will be the anchor retail tenant at a new luxury apartment community. The store will include a self-service salad bar and a gathering area featuring gourmet coffee, wine and local craft beer. It will be the 21st Nob Hill Foods in the Bay Area and the first to open since the Company shuttered an underperforming location in Milpitas last May. Santa Clara is already crowded with food retailers. There are a total of 13 competing food retail stores within three miles of the planned store, including three Safeway stores, two Grocery Outlets, two Lucky’s Supermarkets, two Sprouts, and one 99 Ranch Market, Smart & Final, Trader Joe’s and Whole Foods location. Raley’s operates 121 stores in Northern California and Nevada under four banners, including Raley’s Supermarkets, Bel Air Markets, Nob Hill Foods and Food Source.

Click here for Raley's full store list.

 

 

Carter's

Carter’s acquired Skip Hop Holdings, a global lifestyle brand for families with young children, from private-equity firm Fireman Capital Partners for $140.0 million in cash. Skip Hop’s product offerings include diaper bags, kid’s backpacks, travel accessories, home gear, and hard-lines for playtime, mealtime and bath. Products are distributed in more than 60 countries. The acquisition is expected to be accretive to Carter’s fiscal 2017 adjusted EPS.

Click here for Carter's full store list.

 

Supervalu

Supervalu is investing $800,000 to upgrade its Cub Foods in Eagan, MN beginning next month. The renovations include a drive-through pharmacy and remodels to the bakery, deli and produce areas. Supervalu has updated more than 15 other Cub Foods in the past year-and-a-half, including recent remodels at two stores in Lakeville, and locations in Rosemount, Plymouth and Mankato. Two Cub store locations in Brooklyn Park, as well as the Champlin store, are currently undergoing remodels. The Twin Cities have seen increased competition from new entrants like Hy-Vee and Fresh Thyme. Cub has had to pump more money into updating its stores.

In other news, Eric Hymas president of Supervalu’s Cub Foods division for just a year, is leaving the Company. He will be succeeded on an interim basis by Chad Ferguson, VP of marketing and consumer insights, until a permanent replacement can be found.

Click here for Cub Food's full store list.

 

Barnes & Noble

Barnes & Noble Education’s third quarter sales increased 0.6% to $521.6 million, while comps were down 4.9%, driven largely by lower textbook sales of $23.1 million. Consistent with prior years, the Spring Rush period extended beyond the quarter end due to later school openings and the continued pattern of students buying course materials later in the semester. The Company recorded a profit of $3.8 million, compared to a net loss of $3.6 million in the prior year period. CEO Max J. Roberts said, “In the third quarter, the trends we saw in the second quarter continued, including lower enrollments, a competitive market for textbook sales and a soft retail environment, all of which contributed to comparable store sales declines. We have taken decisive steps to address the dynamic market environment, including expanding our price match program and enhancing our suite of affordable learning materials.”

Meanwhile, this morning Barnes & Noble Education announced the acquisition of MBS Textbook Exchange, LLC for $174.2 million in cash. MBS is the largest contract operator of virtual bookstores for the institutional client market (600 virtual bookstores) and one of the largest used textbook wholesalers in the U.S. (selling to over 3,700 physical college bookstores). The combined Company will operate over 1,490 physical and virtual bookstores and serve more than six million students enrolled in higher education institutions. 

Click here for Barnes & Noble's full store list.

 

Rite Aid

Yesterday, Rite Aid’s RediClinic opened six new retail health clinics inside Rite Aid drug stores in eastern New Jersey. The new RediClinics are located in Toms River (2), Belford, Little Egg Harbor, Neptune and Old Bridge. The six RediClinics are part of a joint venture announced last August with Hackensack Meridian Health, a New Jersey health system. The companies said at the time that their plans call for 10 clinics — to be called Hackensack Meridian Health RediClinics — to be opened in Rite Aid stores in Middlesex, Monmouth and Ocean counties in New Jersey. Three of those RediClinics have already been opened in Highland Park, Marlboro and Red Bank. Another is due to open inside a Rite Aid store in Spring Lake.

Click here for Rite Aid's full store list.

 

 

AutoZone

AutoZone’s second quarter sales increased 1.4% to $2.29 billion, and comps were flat compared to the prior year. Profit rose 3.7% to $237.1 million. CEO Bill Rhodes said, “Our sales performance in the last three weeks of our quarter was significantly challenged by well-publicized timing delays in IRS tax refunds, which negatively impacted our profitability for the quarter.” During the quarter, the Company opened 33 new stores in the U.S., three in Mexico, and one in Brazil. As of February 11, the Company had 5,346 stores in the U.S. and Puerto Rico, 491 stores in Mexico, 26 IMC branches and nine stores in Brazil.

Click here for AutoZone's full store list.

 

 

Target

Target’s fourth quarter sales fell 4.3% to $20.69 billion, reflecting a 1.5% decline in comps combined with the removal of pharmacy and clinic sales from this year’s results (as they were sold to CVS). Comp digital channel sales grew 34% and contributed 1.8 percentage points of comp growth. Net income fell 42.7% to $817.0 million, reflecting pressure from discounting and clearance as well as costs from its shift from brick-and-mortar to digital channels. For fiscal 2016, sales fell 5.8% to $69.50 billion, and net income declined 18.6% to $2.74 billion. Chairman and CEO Brain Cornell commented, “Our fourth quarter results reflect the impact of rapidly-changing consumer behavior, which drove very strong digital growth but unexpected softness in our stores.”

Looking ahead at fiscal 2017, Target expects a low-single digit decline in comps, and EPS of $3.80 – $4.20 (compared to $4.58 during fiscal 2016).

In other news, Target is scheduled to open a new store in a mall in Honolulu, HI in October. Target struck a 20-year lease deal worth $37.8 million with GGP Inc., the majority owner of the state’s largest mall, for 136,500 square feet of the old Nordstrom building. Target currently has stores in Kailua, another store in Honolulu, West Oahu, Maui and two on the Big Island. It also has a 32,500 square-foot facility on Oahu that serves as a central distribution warehouse for all of its stores in the state.

Click here for Target's full store list.

 

Wawa

Wawa has announced plans to open its first three South Florida stores on March 23, although specific store locations were not disclosed. The chain’s website lists four Palm Beach County stores scheduled to open this spring; a store under construction in Pompano Beach is not listed on the Wawa website as opening by summer. Other stores are in various stages of development in Fort Lauderdale, Davie, Parkland, Sunrise and Greenacres, as well as at a second Pompano Beach location. Last year, President and CEO Chris Gheysens said the Company wants to open 50 locations in South Florida over the next five years. The South Florida expansions follow years of Wawa development in the northern and western sections of the state. In November, the Company opened its 100th Florida store, in Brandon.

Click here for Wawa's full store list.

 

Whole Foods Market

Whole Foods will close its 20,000 square-foot Capitol Hill store in Denver, CO as it prepares to open a new flagship location near Denver Union Station this October. The new 56,000 square-foot store is expected to open around the same time as the closing. The closing is in addition to the closure of nine stores, including Boulder and Colorado Springs locations, announced earlier this month. There are three other Whole Foods locations near the Capitol Hill store.

Click here for Whole Foods Market's full store list.

 

Family Christian Stores

Family Christian Stores, a Christian-themed book and merchandise store chain with more than 240 units, announced that it is liquidating its business. Management indicated the Company did not recover after being acquired out of bankruptcy in 2015. The Company did not indicate whether it planned to file a bankruptcy petition or attempt to liquidate out of court. President Chuck Bengochea commented, “We had two very difficult years post bankruptcy. Despite improvements in product assortment and the store experience, sales continued to decline. In addition, we were not able to get the pricing and terms we needed from our vendors to successfully compete in the market. We have prayerfully looked at all possible options, trusting God’s plan for our organization, and the difficult decision to liquidate is our only recourse.”

Click here for Family Christian Stores' full store list.

 

CVS Health

CVS Health is closing 11 locations in Chicago as part of the Company’s previously announced cost-cutting initiative. The Company announced in December that it planned to close about 70 retail stores in early 2017. The majority of closures were expected to be completed by March 31. According to the CVS website, Illinois has 277 CVS Pharmacy locations, as well as 57 MinuteClinics and 86 pharmacies within Target stores statewide.

Click here for CVS Health's full store list.

 

Staples

Staples and Cerberus Capital Management announced this morning the completion of the sale of a controlling interest in Staples’ European operations to a Cerberus affiliate. Staples will retain a 15% equity interest in the business, which has been separated into a privately held company operating under the name Staples Solutions B.V. The new Company consists of retail, contract, and online businesses in 17 countries generating annual sales of €1.70 billion (US$1.80 billion).

Click here for Staples' full store list.

 

Hy-Vee

Hy-Vee is opening a new store in downtown Des Moines, IA today. The 36,000 square-foot unit will offer a “fresh, urban feel” and a “higher percentage of perishables and fresh food than it has center store food.” It will have a Market Grille restaurant with a bar and wine room and seven foodservice areas, including deli, Japanese hibachi, Italian, Mexican, comfort foods, a charcuterie and sushi. There are five competing food retailers within three miles of the new store, including an existing Hy-Vee Supermarket and Hy-Vee Drugstore. ALDI, Fareway Market and Save-A-Lot also operate nearby.

Click here for Hy-Vee'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.

 

Dollar General

Dollar General plans to build a new distribution center in Amsterdam, NY. The 750,000 square-foot facility is expected to be completed in fall 2018. When fully operational, the facility is expected to supply products to approximately 800 Dollar General stores throughout New York and the northeastern states that Dollar General serves. In New York, Dollar General currently operates approximately 360 stores. Dollar General most recently opened its 14th distribution center in Janesville, WI and is currently under construction on its 15th facility in Jackson, GA. Regionally, the most recent distribution center was completed in 2014 in Bethel, PA.

Click here for Dollar General's full store list.

 

The Cheesecake Factory

The Cheesecake Factory’s fourth quarter revenue rose 14.5% to $603.1 million, with an additional week in fiscal 2016 contributing about $54.7 million of sales. Net income increased 18.7% to $32.3 million, including a charge of $100,000 related to the planned relocation of one of its restaurants.

During the quarter, the Company opened five Cheesecake Factory restaurants and one Grand Lux Café, meeting its objective of opening as many as eight Company-owned restaurants domestically in fiscal 2016. Internationally, The Company opened two Cheesecake Factory restaurants, including its first location in Qatar and third in Mexico, for a total of four locations opened under licensing agreements during the year.

Chairman and CEO David Overton commented, “We delivered on all of our objectives in 2016, including producing solid comparable sales performance, achieving our domestic unit growth goal, expanding our international presence to a total of 15 locations and increasing operating margins, all of which contributed to approximately 20% earnings per share growth. By maintaining our differentiated positioning and commitment to operational excellence, we believe we will uphold our leadership position in the casual dining industry in 2017 and beyond.”

Click here for The Cheesecake Factory's full store list.

 

The following is a small sample of retail and restaurant Chapter 11 filings since the beginning of the year. If you are interested in receiving a daily list of all commercial Chapter 11 filings filtered by industry along with a direct link to the petition/creditors list, please click here.

1.      RFD Deli & Grocery, Inc. (01-10-2017)

2.      Limited Stores, LLC  (01-17-2017)

3.      Osborn Restaurant Holdings LLC   (01-23-2017)

4.      Luke’s Locker, Incorporated (01-24-2017)

5.      The Wet Seal, LLC (02-02-2017)

6.      Emerald Coast Eateries, Inc. (02-03-2017)

7.      Eastern Outfitters LLC (02-05-2017)

8.      Michigan Sporting Goods Distributors, Inc. (02-14-2017)

9.      Mahopac Farms LLC (02-16-2017)

10.    Texas Land & Cattle Steak House of North Carolina, Inc. (02-18-2017)