Friday, December 30, 2011

Sears Holdings Store Closings

Here is the link for the Sears Holdings list of store closings.....

To date, Sears has only provided 79 of the 100-120 closing stores.

Wednesday, December 28, 2011

Sears Holdings Closing 100-120 Stores

It appears to be finally happening.  After poor holiday sales Sears Holdings will close 100-120 stores. The list of stores has not yet been released.   

MSNBC Article
Sears Holdings Press Release 

Monday, December 19, 2011

Would You Bet on These 6 Department Stores?

In this article, this author is positive when it comes to Dillards, J.C. Penney, Kohl's, Macy's, Sears Holdings Corporation, and TJX Companies.  In my experience and research, TJX has consistently performed well.  Kohl's has been strong, but shown some recent sales concerns.  J.C. Penney looks like it will do three or four new locations next year.  I don't have any exposure to Dillards and haven't looked much at Macy's.  However, I don't understand how Sears Holdings, with all their troubles and lack of direction, made the list.

Check it out.  ...and I would appreciate your opinion.
Seeking Alpha Article

Sunday, December 18, 2011

New Store Announcements; November 16-30

I am catching up on my blog posts.  With the New York Shopping Center Convention and back to back tenant tours, time has been tight.  Enjoy the holidays.

The following are new stores announced in periodicals and on various web sites.  

Books A Million – Ames, IA
Books A Million – Edwardsville, IL
Books A Million – Jackson, OH
Books A Million – Pensdale, PA
Books A Million – Salina, KS
Books A Million – Vineland, NJ
Burlington Coat Factory – Philadelphia, PA
buy buy Baby – Encinitas, CA, 27,000 SF
hhGregg – St. Clairsville, OH
Old Navy – Mayfield Heights, OH
Petsmart – Lakewood, NY
REI – New York, NY
Ross – Wichita, KS, 25,000 SF
Sports Authority – Dublin, CA, 45,000 SF
Sports Authority – Northridge, CA
Sports Authority – Watertown,  MA, 33,000 SF
Tractor Supply – Petaluma, CA
Tractor Supply – Plympton, MA
Tractor Supply – South Point, OH
Walmart Express – Davidson County, North Carolina

Sunday, November 27, 2011

Bally's Sells 171 to LA Fitness

Bally's has sold 171 of its existing locations to LA Fitness for about $153 million . Bally's will retain approximately 100 of its locations in key markets.  

Chicago Tribune Article

Sears: Smaller Formats, Web Sales, & Their Brands

Chairman Eddie Lampert is now trying to turn around Sears with smaller format stores, online sales, and relying on their well known brands (Craftsman, DieHard, Kenmore).  Keep in mind, since Lampert took over, he has seen 18 consecutive quarters of declining sales.  Interestingly, Sears has reached agreements with Costco and and Ace Hardware to sell tools in these stores.  They have gone as far as circulating a proposal to companies seeking interest in producing products under its brand names.

Since 2005, Sears has closed approximately 171 stores and Mr. Lampert is now opening smaller Sears Hometown and Sears Auto stores.  With some significant changes, Sears online sales have also jumped about 30%.  

The Wichita Eagle Article

Friday, November 18, 2011

Wegmans Coming to Montgomeryville, PA

As reported in the Philadelphia Inquirer, it appears Wegmans will indeed be coming to Montgomeryville, Pennsylvania.  The Wegmans will be built on the site of the former Boscov's department store.  

Montgomeryville is one of the top retail markets in southeastern and southern New Jersey.  Given the density of the market, land to construct such a large store was simply not available, so redeveloping a site was the only option.  Stuart Conston and Rob Samtmann, both of Equity Retail Brokers, represented the Sellers of the two former department store ground leases; one at the Oxford Valley Mall in Langhorne, PA and the other at the Montgomery Mall in Montgomeryville, PA.  The Oxford Valley Mall location was also previously occupied by Boscov's.

Wegmans will be constructing an approximately 125,000 SF store that will be detached from the Mall.  The grocer's construction schedule is filled for 2012, so the beginning of construction and the subsequent opening have yet to be determined. 


Wednesday, November 16, 2011

Walmart Broke the Losing Streak

Walmart posted a 1.3% increase in U.S. comparable store sales.  The company had a streak of declining comparable sales lasting over two years.  

Thanks to David Goodman of Equity Retail Brokers for catching this article.  Check out his Grocery Blog, Running with Equity Retail.
Supermarket News Article

Kmart & Sears - Shopping Walls

This idea is definitely a new one.  Kmart and Sears will be testing shopping walls.  The walls will contain pictures of toys and quick response bar codes that can be scanned with smart phones.  Customers can make purchases from their phones and the items will be delivered right to their homes.  Walls will be installed temporarily in malls, bus shelters, subway stations, airports, and movie theaters.  
LA Times Article

New Store Announcements, November 1-15

Bed Bath & Beyond – Clarksville, TN, 23,000 SF
Bed Bath & Beyond – Roseville, MN
BJ’s – Pittfield, MA, 84,000 SF
Books A Million – Charleston, SC
Books A Million – Sandusky, OH
Books A Million – South Portland, ME
Books A Million – Waterford, CT
Books A Million – York, PA
Buy buy Baby – Braintree, MA, 33,000 SF
Costco – Pewaukee, WI, 152,000 SF
Dick’s – Fort Smith, AR
Dick’s – Lisbon, CT
Dick’s – Morehead City, NC
Dick’s – Tulsa, OK
Dicks’ (3) – Tulsa Area, OK
Hobby Lobby – Chandler, AZ
Hobby Lobby – Cucamonga, CA
Hobby Lobby – Lakeland, FL
Hobby Lobby – Lynnwood, WA
Hobby Lobby – Niagra Falls, NY
Hobby Lobby - Temecula, CA
Hobby Lobby- Middletown, NY
HomeGoods – Collierville, TN, 24,000 SF
Petsmart – Brooklyn, NY
REI – Carey, NC, 27,000 SF
REI – Dublin, CA
REI – Greenville, SC
REI – Santa Barbara, CA
Sports Authority – Phoenix, AZ
Target – Fremont, CA
TJ Maxx – Abilene, TX
TJ Maxx – Nags Head, NC
TJ Maxx – Washington, DC
Tractor Supply – South Point, OH
Tractor Supply – Valencia County, NM

Monday, November 7, 2011

A Round of Applause for Toys R Us

Toys R Us has done what many thought impossible; turn the company around and return it to a successful viable retailer.  Jerry Storch (CEO) and company did it in the face of a terrible economy and increasing pressures from Walmart, Target and Amazon.  

The company is cutting costs, buying some of its competitors, and ramping up its online effort.  The pricing is good at Toys R Us, but it doesn't always beat the competition.  However, they do win when it comes to selection and providing exclusive toys.  I don't care who you are or how old you are, going into Toys R Us is simply fun at any age.  Try it...

The Seattle Times Article 

Friday, October 28, 2011

October 2011 New Store Announcements

BJ’s Wholesale Club – Burlington, NC
Books A Million – Auburn, ME
Books A Million – Bangor, ME
Books A Million – Butler, PA
Books a Million – Charleston, SC
Books A Million – Monaca, PA
Books A Million – Portland, ME
Books A Million – Rapid City, SD
Books A Million – Waterford, CT
Buy Buy Baby, Dress Barn, Omega sports, TJ Maxx, Target – Morrisville, NC
Dick’s – Heath, OH
Dick’s – Lexington Park, MD
Dick’s – Liberty, KS
Hobby Lobby – Merced, CA
Hobby Lobby – Modesto, CA
Hobby Lobby – Northport, AL
Hobby Lobby – Roseville, CA
HomeGoods – Swampscott, MA, 25,000 SF
HomeGoods– Madison, MS
Michael’s– Madison, MS
Old Navy – Louisville, KY
Petco – Madison, MS
Petco – Queensbury, NY, 18,300 SF
Petsmart – Cerritos, CA
Publix – Gardendale, AL
Rack Room Shoes – Olive Branch, TN
Shoe Carnival - Louisville, KY
TJ Maxx – Gardendale, AL
TJ Maxx – Somerset, KY
Toys R Us – Honolulu, HI
Toys R Us/Babies R Us – Cedar Hill, TX, 35,000 SF
Toys R Us/Babies R Us – Huntsville, AL, 58,000 SF
Toys R Us/Babies R Us – Southlake, TX, 35,000 SF
Tractor Supply – Houlton, ME
Walmart – Bayonne, NJ
Walmart – Miami, FL, 160,000 SF
Walmart Express – Snow Hill, NC

Monday, October 17, 2011

Gap to Close More Than 100 Stores

Gap is planning to close more than 100 stores by the end of 2013.  

Business First Article

Lowe's Closing 20 Underperforming Stores, Future Growth Limited

Lowe's will be closing 20 underperforming stores in 15 states.  Future growth will include approximately 10 to 15 new stores per year rather the anticipated 30 stores.  See the Lowe's press release for a list of towns where the stores will close.
Market Watch Article
Lowe's Press Release

Ross Best Relative Performance

Ross is on top as far as relative performance is concerned.  

Financial News Network Online Article

Wednesday, October 12, 2011

Wal-Mart Comp Sales Down 9 Straight Quarters

How do you raise your stock price?  Answer: Increase same store sales.  

In the face of stiff competition, Wal-Mart is adding new products to the stores, working with different prototypes and shipping online purchases to the stores.  The question still looms.  Will it work? 

Reuters Article

BJ's Not Going West

It appears that BJ's plan for at least the next five years will focus on growth in the existing core markets.
Learn More at the Boston Herald

Monday, October 10, 2011

Is Home Depot's Stock Cheap?

The Motley Fool helps us to analyze Home Depot and how it stacks up to its competition and other big boxes over the past five years and the coming five years using growth, P/E Ratio, EV/FCF Ratio, Net Income Margin, and Cash Flow Margin.  

The Motley Fool

Thursday, October 6, 2011

Home Depot's Free Cash Flow (FCF)

Back when the economy really started to change, I recall Home Depot being one of the first anchors to pull back on new store expansion, so I have kept somewhat of a watchful eye on them.  The article below is a very basic view into the Free Cash Flow (FCF) of the company and how it compares to competitors as well as other well known anchors.  As far as FCF is concerned in this brief comparison, Home Depot comes out ahead of the others.  This explanation of FCF will help too in your monitoring of other companies.  

Motley Fool Article

Tuesday, October 4, 2011

Kohl's Opens 30 Stores in 20 States

The following press release provides a good run-down on Kohl's today.  Most importantly, on September 28 Kohl's opened 30 stores and created approximately 4,000 jobs across the country.  In 2011, the company has also remodeled approximately 100 stores, which is an 18% increase over 2010.  

Market Watch Article

Monday, October 3, 2011

New Store Announcements, Week of 9/26/11

I haven't seen or heard much from Dick's or Sports Authority in the last few months.  However, this month seems to be the exception.  

Week of 9/26/11
buy buy  Baby – Farmington Hills, MI, 29,000 SF
Dick’s – Broken Arrow, OK
Dick’s – Yonkers, NJ
Dick’s - Norcross, GA (50,000)
JC Penney – Dallas, TX
JC Penney – Seattle, WA
Kohl’s – Roanoke, VA
Kohl’s – Encinitas, CA
Kohl’s – Easton, MD
Michael’s – Orlando, FL
Restoration Hardware – Boston, MA
Sam’s Club – Tulsa, OK, 130,000 SF
Sports Authority – Hyannis, MA
Sports Authority – Long Island, NY, 13,600 SF

Sunday, October 2, 2011

BJ's Acquisition Completed

The acquisition to acquire BJ's Wholesale Club and take it private is complete.  

Bloomberg Business Week Article

Retailers on Fortune's Top 50 Most Admired Compaines

Congrats to McDonald's, Walmart, Starbucks, Nordstrom, Target, Costco, Best Buy, Yum Brands, and  Lowe's.  

Sunday, September 25, 2011

New Store Openings During Week of 9/12 & 9/19

The following is a list of new stores that were announced in various articles I found while researching for my blog.

Week of 9/12/11 & 9/19/22
Bed Bath & Beyond – Duluth, MN
BJ’s Wholesale Club – Northborough, MA
BJ’s Wholesale Club – Port Orange, FL, 86,000 SF
Burlington Coat Factory – Lafayette, LA, 150 jobs
Dick’s – Layton, UT
Dick’s – Heath, OH
Eastern Mountain Sports – New York, NY
hhgregg – Clairsville, OH
hhgregg – Orland Park, IL
Hobby Lobby – Everett, WA, 55,500 SF
Hobby Lobby – Bridgeton, NJ
Hobby Lobby – Millville, NJ, 58,822 SF
HomeGoods – BelAir, MD, 25,000 SF
JC Penny - Dallas, TX
Kohl’s – Savannah, GA
Michael’s Arts & Crafts – Eatontown, NJ
Old Navy – Lake Grove, NY
Ross – Honolulu, HI, 40,000 SF
Ross – Morton Grove, IL
Ross - Windcrest, TX, 25,000 SF
Sam’s Club – Aiken, GA
TJ Maxx – New York, NY (Wall Street), 32,000 SF

Hobby Lobby to Millville's Cumberland Crossing

See the following article on Hobby Lobby's new location in  Millville, NJ

Vineland Daily Journal Article

Friday, September 23, 2011

Costco Holding Strong

Kudos to Costco with their strong consistent performance.  This article sums up their most recent performance and position in the marketplace. Article

Kmart & Sears...Time to Keep a Close Eye

This article is a nice summary of the Kmart and Sears current state of affairs.  This new reality that we all live and work in is a tough place for a business who can't seem to find a good direction.

ABC News Story

Monday, September 19, 2011

Target Does it Again!

Target successfully launched another relationship with a high-end label.  This time it was Missoni.  As widely report, the Target web site crashed several times and their were lines in many stores when the clothes were made available.  

Washington Post Article

Levin Furniture & Some Big Stores

Levin Mattress (aka Levin Furniture) is opening some big stores in the Pittsburgh and NE Ohio markets.

Furniture Today Article

Sunday, September 18, 2011

The Produce is on the Roof

Sorry, I couldn't resist posting this article.  Look at the points the author is making about why it's better to grow the produce on the roof.  

UPI Article

One Person's Take on J.C. Penney

Click on the link below to understand one person's take on J.C. Penney, their current status, and where they are headed.  This person is bullish on the company.  

Seeking Alpha Article?

Sunday, September 11, 2011

Sears Holdings Looking to Leverage Brands

Is Sears Holdings finally going to start focusing on selling the brands worldwide in other venues as well as making money off their vast real estate holdings?

See the good article from Seeking Alpha.

Burlington Coat's New Line of Credit

Burlington Coat now has an amended credit agreement that will now come due in September of 2016.

Market Watch Article

Thursday, September 8, 2011

Will Sears Kmart Last Another Year?

The following is one person's blunt analysis of whether the once retailing giants will last much longer.  Your thoughts?

Esquire Article

New Store Announcements - Week of 8/29/11 & 9/5/11

The last two weeks have proven to be slow when it comes to news....

Weeks of 8/29/11 and 9/5/11
Books-A-Million – Sumter, SC (Former Walden Books)
Books-A-Million – Birmingham, VA (Former Joseph-Beth Booksellers)
Dick’s – Peach Tree, GA
hhgregg – Naperville, IL, Avg. 30,000 SF
HomeGoods – Farmington, UT
HomeGoods – Murray, UT
HomeGoods – Point Loma, CA
HomeGoods – Swampscott, MA, 24,400 SF
HomeGoods – Maple Grove, MN, 25,222 SF
Kohl’s – Danville, IL, 55,882 SF
Marshalls – Farmington, UT
Marshalls – Spokane, WA
PetSmart – Peachtree, GA
Target – Inver Grove Heights, MN, 135,000 SF
Ulta – Farmington, UT

Costco's CEO to Retire

Costco's co-founder, Jim Sinegal, who is known for his colorful personality and love for the $1.50 hot dog and soda, is retiring at the age of 76.  He is revered for not making decisions to appease Wall Street at the expense of his customers and employees.  This philosophy is an example of his well known high level of integrity.  Jim will work one more year full time for the company, helping with the transition and then he remain on the board of directors.
Seattle Times Article

Better article...from the Washington Post...
Washington Post

Monday, August 29, 2011

New Store Announcements - Week of 8/22/11

Week of 8/22/11
Burlington Coat – Philadelphia, PA
Burlington Coat – Royal Palm Beach, FL, 70,000 SF
buybuy Baby – Inland, CA
Christmas Tree Shops – Wallkill, NY
Costco – Warminster, PA
Giant Foods – Philadelphia, PA
hhgregg (14 stores) – Chicago Region, IL
Hobby Lobby – Salisbury, MD, 56,800 SF
Home Goods – Tinley Park, IL
JC Penny – Seattle, WA
Menard’s – Chesterfield, MI
Michael’s – Sarnia, Canada, 14,000 SF
Old Navy – Tinley Park, IL
REI – Paramus, NJ
Shoe Carnival - Russelville, AR
Target – Madison, AL
TJ Maxx – Greeley, CO, 25,000 SF
Toys R Us/Babies R Us – South Elgin, IL, 60,000 SF (Relocation)
Toys R Us/Babies R Us – Orlando, FL
Wal-Mart – Springfield, PA

Friday, August 26, 2011

Books-A-Million Buys 14 Borders Leases

Borders buys 14 Borders leases for $934,209.  Some of the locations include, ME, OH, NH, and NJ.

Bloomberg Article

Target Takes Aim at Walmart, With Some Success (NPR)

This brief NPR article is an interesting account of how Target is seemingly gaining over Walmart.  Adding groceries seems to be paying off for Target while Walmart is showing signs of being very susceptible to the 'paycheck cycle'.  Target has also lowered prices and successfully instituted a customer loyalty credit/debit card.

NPR Article

Thursday, August 25, 2011

21 Stores for Toys R Us in 2011

Toys R Us is scheduled to open 21 new stores this year and remodel 23.
L.A. Times Article reported that The Wayne, N.J.-based company will have 43 superstores nationwide by the end of 2011.
Crain's Article

Sunday, August 21, 2011

New Stores During the Week of 8/15/11

Week of 8/15/11
The following is an unscientific list of new stores that I noticed while researching for the blog.  Congrats Burlington Coat!

Babies R Us/Toys R Us – Indio, CA, Relocation (25 jobs)
Burlington Coat Factory – Columbus, GA, 70,000 SF
Burlington Coat Factory – Benton Township, MI, 60,000 SF
Burlington Coat Factory – Pearland, TX, 70,000 SF (80 jobs)
CW Price – 47 Stores Nationwide Opened 8/18
Michael’s Arts & Crafts – Glenway Crossing, OH
LA Fitness – Atlanta, GA (50 jobs)
LA Fitness – Mission Viejo, CA, 62,000 SF
Sam’s Club – Dallas, TX (W. Walmart, 300 jobs)
Tractor Supply – Las Cruces, NM
Walmart – Dallas, TX (W. Sam’s Club, 300 jobs)

Double Decker Walmart-Sam's Club

Walmart is trying something new in Dallas....Walmart on the top floor, Sam's Club underneath, and a three level parking garage.  Less land, more synergy, one stop shopping. 

KDAF-TV Article

Shop Kick Helping the Boxes

In the never ending fight to get customers in the store,  retailers are using a  relatively new iPhone and Android app called Shop Kick to generate customer trips. Shop Kick users get rewards when they walk into partner stores. 

Check out this article and you may end up downloading the app.  However, some may end up dismissing it outright.  Before overlooking this article because you may not think it's important, keep in mind the vast majority of people under thirty are rarely, if ever, without their smart phones.  Email is becoming 'old school' for them and texting, Tweeting, social media, and the like are their primary forms of communication. 

Sports Authority tried it and they are going back for more.  Toys R Us and Babies R Us are also getting on the wagon. 

Please see the link below for the article and the full list of tenants using the app.
Clickz Article

Monday, August 15, 2011

New Store Announcements - Week of 8/8/11

The following were a list of stores that were mentioned in articles throughout the week.  Last week TJX Companies (TJ Maxx, Marshalls, HomeGoods) had the most stores announced.  This week Kohl's is the winner. 

Week of 8/8/11
Cabela’s – Wichita, KS, 80,000 SF
Hobby Lobby – Wallkill, NY (30-50 jobs)
Kohl’s – Williamsport, PA (130 jobs)
Kohl’s – Sarasota, FL (130 jobs)
Kohl’s – Encinitas, CA (150 jobs)
LA Fitness – Bookhaven, GA, 50,000 SF
LA Fitness – Chicago, IL, 31,500 SF
La-Z-Boy – Attleboro, MA
Menard’s – Virginia, Minnesota, 162,000 SF (200 jobs)
Men’s Warehouse – Hagerstown, MD
Ross Dress for Less – Sequim, WA
Sports Authority – Vero Beach, FL
TJ Maxx – Presque Isle, ME, 25,000 SF (50-60 full & part time jobs)
Unleashed (Petco smaller concept) - Severna Park, MD
Walmart Express – Greene County, NJ

Saturday, August 13, 2011

Walmart: Trying to Generate More Sales

Three new moves Walmart is implementing to generate more sales...

1, Walmart Express - 15,000 SF
2. Remodel all stores by 2012
3. Walmart To Go - Online grocery delivery service with minimum $49 order ($5 fee)

Forbes Article

Walmart Express Under Construction in North Carolina

A new Walmart Express is under construction on the east coast in Greene County North Carolina.

News 12 Link

Wednesday, August 10, 2011

Petco Going Smaller with Unleashed

Petco has a smaller concept called Unleashed that takes approximately 4,000-5,000 square feet.

The Unleashed concept is smaller than the typical Petco store and specializes in natural, organic, and higher end products.

One of the latest locations will open in Severna Park, MD.
Severna Park Patch Article

Unleashed Web Site

Liberty Media Bidding for Barnes & Noble

As reported earlier this year, Liberty Media has made a $1 billion ($17 per share) offer to acquire approximately 70% of Barnes and Noble.  According to the Wall Street Journal, Liberty is through the due diligence phase of their financial data analysis and now working on arranging financing for the transaction.

Liberty owns QVC and Starz (pay cable channel).

Wall Street Journal Article

ABC News Story

Monday, August 8, 2011

New Store Announcements - Week of 8/1/11

The following is a list of new stores that were mentioned in articles throughout the week or are occurring in the Philadelphia area:

Big Lots – Livermore, CA
Big Lots – Abilene, TX
Office Depot – Brownsville, TX, 18,000 SF
Cabela’s – Tulalip, WA (200 jobs)
Cabela’s – Charleston, WV
Carmike Theaters – Pottstown, PA
Costco – Sanatoga, PA
Hobby Lobby – Roseville, CA, 76,248 SF
Hobby Lobby – Jensen Beach, FL, 53,000 SF (35-40 jobs)
Hobby Lobby – Winchester, VA, 58,000 SF (35-40 jobs)
Hobby Lobby – Temecula, CA, 74,991 (35-40 jobs)
HomeGoods – Pittsburgh, PA
HomeGoods – Maple Gove, MN, 25,000 SF
HomeGoods – New Milford, CT
HomeGoods – Cupertino, CA
Kohl’s  – New Milford, CT
Petco – Gloucester City, CA
Petco – Livermore, CA
Ross: 12 Stores – Chicago, IL (600 jobs)
Ross – Redmond, WA
Sam’s Club – Sioux Falls, SD 165,000 SF
Shop Rite – Hatfield, PA
Target – San Francisco, CA (200 jobs)
Target – Santa Clara, CA (100-250 jobs)
TJ Maxx/HomeGoods – Kendall, FL, 46,000 SF combo store (120 jobs)
TJ Maxx – Livermore, CA
TJ Maxx – Hendersonville, NC
TJ Maxx – Cupertino, CA
TJ Maxx – Columbus, MS
Tractor Supply - Columbia, MI
Tractor Supply – Ticonderoga, NY, 25,000 SF (12-17 jobs)
Tractor Supply – Medina, NY, 23,000 SF
Wegmans – King of Prussia, PA

Best Buy Express Growing

Best Buy Express, the self-serve, kiosk is adding approximately 100 locations in the next year.  The company has placed at least 150 in the last three years.  This concept is yet another example of how the traditional bricks and sticks retailers are shrinking their prototypes while trying to generate sales through other channels.

Reuters Article

Saturday, August 6, 2011

Ross Dress for Less: 12 Chicago Stores

As reported in the Chicago Tribune, Ross Dress for Less to open 12 stores simultaneously on October 8 in the Chicago area.  

Ross is creating approximately 600 jobs.

Chicago Tribune Article

Monday, August 1, 2011

Menards to Start Construction in Missouri

As reported in the Southeast Missourian, Menards is the third largest home improvement store in the country.  The company has purchased the site, site work has begun, and building plans for the 162,340 square foot store have been submitted to the township.  

The company has approximately 250 stores in the country and will soon have 10 stores under construction slated to open in 2012.  

The store will employ 160 people.  

Southeast Missourian Article

Sunday, July 31, 2011

Hobby Lobby to Open 5 California Stores

Hobby Lobby with 489 stores in 40 states will be opening 5 stores in California.  It appears that at least 4 of the stores will be opening this year.  

Hobby Lobby specializes in arts and crafts, picture framing, party supplies, cards, holiday supplies, and home accessories.  Leases for the company are best suited for second generation space as they are very rent sensitive.  Given the amount of available box space considering the economic events of the last few years, I imagine they are finding many more opportunities in the marketplace.

Some information used from The Press Enterprise. 

JCPenney & Nordstrom Rack Coming to Willow Grove Park Mall

JCPenney and Nordstrom Rack will be taking portions of the former Strawbridge's at the Willow Grove Park Mall (Willow Grove, PA).  The vacant Strawbridge's has sat empty since 2006.  JCPenney will total 114,000 square feet on two floors.

Prior to the economy downturn, I personally noticed JCPenney on a number of proposed shopping center site plans.  Unfortunately, none of those stores came to fruition in the Philadelphia DMA.  So, after a few years of being dormant, JCPenney is moving forward with a very high profile location in one of the top Philadelphia markets.

Thanks to

Dick's Goes to Staten Island

From, Dick's opened it's first Staten Island and New York City store on Friday.  The store is about 36,000 square feet and will shed the Hunting and Biking Departments because it is smaller than the normal prototype.  Dick's hopes to add those departments in the future. Article

Wednesday, July 27, 2011

Target Doing Grocery

As we all know in Pennsylvania, New Jersey and Delaware, Target is expanding its grocery format at many of its stores.  

In St. Louis, Target is also making the move to convert stores.  Adding the expanded grocery ("PFresh") is not to be confused with the SuperTarget format, which is substantially bigger.  However, I know it's causing the Philadelphia area grocers and likely many around the country to take serious notice.  

The stat that caught my eye in the blog post highlighted below was Target plans to remodel 380 stores around the country this year.  So, based on news reports it appears Target's store expansion seems to primarily be headed to Canada, but their spending significant dollars domestically to update their stores with grocery items.  

For more information on the grocery industry see David Goodman's blog: Running with Equity Retail Blog Post

Kansas & Cabela's

Cabela's is coming to Kansas in the Spring of 2012.  Site work has begun on their new 80,000 SF location in Wichita.  

According to the Wichita Eagle (See article below), the new store is expected to attract between 800,000 and 1,000,000 million visitors each year.

The company is utilizing smaller prototypes to get closer to the more populated areas as opposed to the larger stores that they have historically built in more remote areas.  Their larger stores have gotten close to 200,000 square feet.  Based on my personal experience with the company, the larger stores draw from a very wide trade area, so the company is wisely placing the new stores so as not to impact existing locations.

The Wichita Eagle Article

Shoe Carnival Into Montana

Shoe Carnival is entering Montana with its first store.  One is already open in Wyoming and there are more to come in the north and west.  The company is up to 314 stores in 30 states.

The Montana store is responsible for 25 new jobs.

Shoe Carnival is currently operating in western and central Pennsylvania.  My partner, Brian Wherty, and I in cooperation with Joe Spagnola from LMS Commercial Real Estate (Lancaster, PA) have analyzed the southeastern Pennsylvania and southern New Jersey market at the direction of Shoe Carnival as a possible area of future expansion.

Billings Gazette Article

Saturday, July 23, 2011

IKEA to Open First Colorado Store

IKEA will open its first Colorado store on July 27.  The store is in Centennial and is 415,000 SF.  It is the 38th in the United States and the 324th in the world.  
Denver Business Journal Article

Thursday, July 21, 2011

Signs of Walmart Express

There will soon be six drug store sized Walmart Express stores in the country.

Genty, AR
Prairie Grove, AR
Albemarle, NC
Midway, NC
Ridgefield, NC
Chicago, IL

The Walmart Express concept allows the discount giant to enter markets where they can't otherwise open a larger store.  Thus far, Express stores appear to be carrying merchandise that is specific to the respective town or neighborhood.  In Midway, since there is already a pharmacy, then they won't carry those products, but they will be heavy on the grocery items.  Most will have a pharmacy and some may sell gasoline.

The company will focus on Arkansas, North Carolina and Chicago, planning to open 15 to 20 stores by the end of their fiscal year in January 2012.  Walmart sees a potential of opening approximately 350 per year if they get the prototypes right for both the urban and rural markets.

Information for the above gathered from and

Wednesday, July 20, 2011

Cabela's Opening Second Canadian Store

As reported in the Edmonton Journal, Cabela's will open in Edmonton on August 4.  This area already boasts a strong customer following for the company.

The only other Canadian store is in Winnipeg, but spokesman John Castillo said Cabela’s (CAB:NYSE) plans to expand across Canada, starting in Edmonton and Saskatoon next spring.  

With its 70,000-square-foot store, Cabela’s will go head-to-head with Canadian outdoors-merchandise rivals Wholesale Sports in Edmonton and U.S. competitor Bass Pro Shops, which opened a larger 150,000-square-foot store just north of Calgary in 2009.  Besides its brick-and-mortar retail stores, Cabela’s sells products online and by catalogue. The company calls itself the world’s largest direct-marketer of outdoor-lifestyle merchandise.  

The company boasts a very serious customer following with the average visitor driving up to 150 miles to shop at the store.

The Edmonton store has hired 210 employees and is still looking for more workers.
Edmonton Journal Article

Borders is Done....

Borders will likely face a sale to liquidators after the last interested party declined to bid on the failed retailer.  

Liquidators led by Hilco Merchant Resources and Gordon Brothers Retail Partners LLC were made the opening bidders for the auction. The deadline for bids passed on 7/17 without any offers.

12 stores are in the Philadelphia region.

Bloomberg Article

Tuesday, July 19, 2011

hhgregg...10 More in South Florida

10 more hhgregg stores have opened in south Florida bringing the state's total stores to 33.  

The store openings created approximately 600 new jobs.

Market Watch Article

Sunday, July 17, 2011

Dinner at a Movie?

While on tour last week with one of my clients in southeastern Pennsylvania, we took a tour of the new Movie Tavern in Providence Town Center in Collegeville.  The movie theater had their soft opening and was preparing for the latest Harry Potter release and grand opening on Thursday night.

The concept of having dinner and drinks either before or during a movie is definitely intriguing and looks fun.  The logistics of pulling it all off was impressive.  My wife and I will have to give it a try, but first we need a sitter.  Any volunteers?...

Kudos to the owner, Brandolini Companies, as they work their way through a bad economy and continue to add new tenants to this massive project.  

Other tenants in the project include Wegmans, Best Buy, Michael's, L.A. Fitness, HomeGoods, Staples, and Raymour & Flanigan.

See Daily Local News for the rest of the article.