August 28, 2024
HBC, parent company of Saks Fifth Avenue, and Neiman Marcus Group (NMG), parent company of Neiman Marcus and Bergdorf Goodman, announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) in connection with the companies' previously announced transaction through which HBC will acquire NMG for $2.65 billion. The expiration of the HSR Act waiting period satisfies a closing condition for the transaction. The transaction remains subject to other customary closing conditions. Until closing, the companies will continue to operate separately.
The combined company will have 77 department stores (39 Saks Fifth Avenue, 36 Neiman Marcus and two Bergdorf Goodman stores), and 100 off-price outlets (95 Saks OFF 5th and five Last Call discount stores), as shown in the map below.
Kroger filed a motion seeking a preliminary injunction against the Federal Trade Commission's (FTC) administrative proceeding challenging the Company's proposed $25 billion merger with Albertson's. The Company argues that by proceeding in its administrative tribunal, in addition to the separate action in federal court, the FTC is violating Constitutional protections. The motion was filed in the U.S. District Court for the Southern District of Ohio.
Last month RetailStat held a webinar on the Kroger/Albertsons merger, called "Analyzing the Divestiture Impact on the Grocery Landscape." In a follow up to the webinar, we released additional maps and resources related to the merger. Please find those resources as well as the recorded webinar below. a
T&T Supermarket plans to open its first store in the San Francisco Bay Area, marking its third planned store in the U.S. Located at the Westgate Center in San Jose, CA, the 55,000 square-foot store will occupy a former Walmart location. The store is expected to open in Fall 2025.
Before that, T&T will open its first U.S. store in the Seattle suburb of Bellevue, WA. The store was slated to debut this summer, but the opening was delayed.
A second Seattle-area location is slated to open in Lynnwood.
T&T has more than 30 stores across Canada offering a selection of Asian products, fresh produce, full-service meat counters, live seafood tanks, and in-store prepared foods programs.
Scheels plans to open a 240,000 square-foot store in Tulsa, OK, its first in the state, on October 19. Tulsa will bring Scheels' store count to 34.
Another Scheels is slated to open in Cedar Park, TX in 2026.
See the adjacent map for both locations.
Floor & Decor opened its first location in Rhode Island on August 22, located at the Cowesett Corners Shopping Center in Warwick. The location features 1 million square feet of in-stock flooring materials and free design services. The Company operates more than 230 warehouse-format stores and five design studios across 36 states.
Floor & Decor plans to open 30 to 35 stores during 2024. See the Company's future openings in the adjacent map.
The information contained in this newsletter is compiled from sources which RetailStat, LLC (“RetailStat”), does not control and unless indicated is not verified. Its contents are not to be divulged. RetailStat, its principals, and writers do not guarantee the accuracy, completeness or timeliness of the information provided nor do they assume responsibility for failure to report any matter omitted or withheld because of their negligence.
