Thursday, July 21, 2016

Primark's U.S. President discusses expansion plans

Jose Luis Martinez de Larramendi, president of Primark US, talking about the European retailer, which opened a store in the Freehold Raceway mall on Saturday and plans a store in American Dream.Primark is a division of the Irish company AB Foods, with 311 stores in 11 countries. It has four U.S. stores open, and its fifth store, in Willow Grove, Pa., is scheduled to open today.

Right now, Primark is embarking on careful U.S. expansion, and it isn't looking for sites beyond its initial planned rollout of 10 U.S. stores. . . . more

Kroger Marketplace in Columbia opens with a Starbucks, sushi bar, clothing — and groceries

After a year of construction, Kroger opened its first South Carolina Marketplace superstore in Columbia on Wednesday and, sure enough, the people came.

Store officials cut the ribbon on the 124,000-square-foot shopping complex at mid-morning, but customers had descended on the store off Killian Road hours before, entering when the store opened its doors at 7:30 a.m. Parking spaces were wait-and-see throughout the day.. . . more

Birkenstock quits Amazon in US after counterfeit surge

Image result for amazon logo Birkenstock is walking away from Amazon.com.

Plagued by counterfeits and unauthorized selling on the online shopping site, the sandals company will no longer supply products to Amazon in the U.S. starting Jan. 1. Additionally, Birkenstock won't authorize third-party merchants to sell on the site, according to a letter the company sent to several thousand retail partners on July 5.. . . more

End of the road for former teen apparel giant?

It appears that Aeropostale Inc., which declared Chapter 11 bankruptcy in May, will be selling its assets rather than reorganizing.
     
The teen retailer said in court papers that “reorganization on a standalone basis is not feasible.” Instead, it will look for a “stalking horse” to make the lead bid at an auction next month, Bloomberg reported.. . . more

Bob’s Stores and EMS in new holding company

Versa Capital Management has formed a new holding company, called Eastern Outfitters, which will continue the restructured operations of Eastern Mountain Sports (EMS) and Bob’s Stores.
 
The news comes several months after Vestis Retail Group LLC, an entity of Versa that operated Bob’s, EMS and Sport Chalet, filed for Chapter 11. The company subsequently shut down Sport Chalet. EMS and Bob’s will now operate as business units of Eastern Outfitters, which will have over $400 million in annual revenue and be headquartered in Meriden, Connecticut. The company will be under the leadership of Mark Walsh, who served as CEO of Vestis and will now hold the same title at Eastern Outfitters.. . . more

Wednesday, July 20, 2016

Target’s expansion into cities may mean more smaller stores

Image result for target small storesTarget executives are starting to think small.

With 1,790 stores spread across the country and sales growth in each of the last two years at under 2 percent, the discounter is accelerating plans to roll out more petite, urban stores.

With 20 smaller stores already open, the Minneapolis-based chain expects to roll out 14 more this year — including one in the New York City neighborhood of Forest Hills, Queens, which will open on Wednesday. The store is 21,000 square feet.. . . more

Johnny Carino’s owner files for bankruptcy

Fired Up Inc., the operator of the casual dining chain Johnny Carino’s Italian, filed for its second bankruptcy in three years this week and is looking for a buyer.

Carino’s has been closing locations in recent years, including some that it had planned to turn around following its previous bankruptcy, and currently owns 36 company stores and franchises another 48, according to filings. At its peak, in 2006, the chain had 173 company-owned and franchised locations in 30 states.. . . more

Sumner Redstone sells West Roxbury Home Depot for $34M

Image result for home depot west roxbury maAn entity managed by embattled media magnate Sumner M. Redstone has sold off a Home Depot store in West Roxbury for $34 million.

The Home Depot had leased the store prior to acquiring it on July 18, said Stephen Holmes, director of corporate communications for the Atlanta-based home-improvement supplies retailer. The Home Depot operates 2,275 retail stores in the U.S. and abroad.

“We bought it to pull into our portfolio of owned properties, which is typical,” Holmes said. “We own a majority of our stores.”. . . more

Tuesday, July 19, 2016

GameStop Says Pokémon Go Has Boosted Some Stores’ Sales By 100%

Image result for Pokémon GoAs we know, some businesses have embraced the Pokémon Go craze as a way to drum up business. That became more evident over the weekend as GameStop used its status in the game to increase sales at some stores by 100%.

Sales boosted at the 462 stores, which are considered Pokémon “gyms” where players can exercise their captured creatures, provided GameStop with a sharp 6.8% stock increase on Monday.. . . more