The Fresh Market
The Fresh Market is closing five stores located in Livingston, NJ; Woodbury, NY; Ashburn, VA; Altamonte Springs, FL; and Kildeer, IL. According to the Company, “This move will allow the Company to focus on the success, service and growth of its existing portfolio of stores. The decision to close these locations was made after careful consideration of the overall growth strategy and long-term performance of the Company.” The Company said no additional closures were planned at this time. Shortly after The Fresh Market was acquired by private equity firm Apollo Global Management in April 2016, it closed 13 stores, resulting in its exit from four states (TX, IA, KS and MO). Meanwhile, The Fresh Market plans to open stores in Columbia, SC (April 26) and Doral, FL (May 24). The new stores will incorporate the Company’s revamped look (with more local and health-conscious items), which it recently launched in North Carolina and incorporated in a new store opened earlier this year in Boca Raton, FL. The Company plans to roll out the new design to its stores across the country through 2018. It will operate about 175 locations after the planned openings and closures.
Click here for The Fresh Market's full store list.
rue21, Inc. will be closing around 400 stores (33.5% of its entire store base) across the country, stating the decision is “difficult, but necessary” as the teen apparel retailer focuses more on its online business. Click here for the full listing of store closings.
Marsh Supermarkets recently announced plans to close 10 more locations, representing 15% of its stores, as it struggles in an increasingly competitive marketplace. Three stores located in Indianapolis and Greenfield, IN and Cincinnati, OH will close on May 6; seven other units, including stores in Indianapolis (3), Frankfort, Logansport and Portland, IN and Union City, OH will close May 14. When the 10 stores close next month, Marsh will continue to operate 53 supermarkets.
Click here for Marsh Supermarket's full store list.
Eastern Outfitters LLC
On April 20, the Court entered an order approving the purchase of the assets of Eastern Outfitters LLC, DIP by Sports Direct International, PLC. The assets include the Bob’s Stores and Eastern Mountain Sports operating units. The consideration consisted of $500,000 in cash, a $29.0 million credit bid, and full payment of an unspecified amount of first-lien financing obligations. Closing of the transaction will occur in the next few weeks.
Click links above for full store lists.
Albertsons / Whole Foods
On April 24, a published report indicated that Albertsons was in preliminary talks with several banks about potentially partnering to fund an acquisition of Whole Foods, though no bid has been made thus far. This follows Whole Foods’ announcement two weeks ago that activist investor Jana Partners had taken a 9% stake in the Company and was advocating a potential sale or other strategic alternatives, as well as rumors from last month that Albertsons was in talks to acquire one of Whole Foods’ competitors, Sprouts Farmers Market. Whole Foods has been struggling with negative comps for over a year due to intense competitive pressure from other natural retailers such as Sprouts, in addition to traditional grocers with expanded natural product offerings such as Kroger.
Click links above for full store lists.
Ross Stores plans to open four new Dress For Less locations in Houston, TX this year, and another five in 2018. In addition, the Company’s dd’s Discounts brand is looking to be adding four new stores in the metro area by year end. There are currently 51 Dress for Less locations and 16 dd’s Discounts stores in Houston. There are more than 10 competing department store chains within a 20-mile radius of Houston, including 14 Burlington Coat Factories, 10 Macy’s, nine Dillard’s, eight J.C. Penney’s, eight Kohl’s, eight T.J. Maxx’s, five Stein Marts, and five Burke’s. Within that radius, there are 31 Ross Dress for Less stores and 14 dd’s Discounts.
Click here for Ross Stores' full store list.
Raley’s will close its store in Vallejo, CA, with its pharmacy shutting down on April 27 and the store’s final day on June 24. The closure comes despite two new Raley’s stores opening in Sacramento in recent months. Stiff competition, including a nearby Walmart Neighborhood Market and a recently remodeled Smart & Final, likely contributed to the planned closure. Earlier this month Raley’s opened a new 35,000 square foot store in Sacramento, which focuses on and health and wellness, offering more fresh, high-quality foods. The Company plans to open four more new stores in the next 18 months.
Click here for Raley's full store list.
West Elm, a division of Williams-Sonoma, will open its first Fort Worth, TX location, a 10,000 square-foot store, this summer. West Elm operates 87 stores in the U.S., Australia, Canada and the U.K., including seven in Texas (El Paso, Dallas, Austin, San Antonio, San Marcos and two in Houston).
Click here for West Elm's full store list.
Lidl has plans for up to 12 stores throughout Georgia with its latest store location announcements in Calhoun and Rome. Earlier reports indicate plans for stores in Sandy Springs (2), Augusta, Cumming, Decatur, Mableton, Newnan, Pooler, Warner Robins and Woodstock. Meanwhile, competing discounter ALDI is also planning sites in Pooler and Roswell. ALDI recently built a store in Tucker in metro Atlanta and has a store under construction in Augusta.
Published sources indicate that nationally, ALDI has 18 stores proposed, 32 in planning, 32 under construction and 51 built in the last six months. Areas of concentration include southern California, Texas, Florida and Minneapolis/St. Paul. Lidl has 47 stores proposed, 59 planned and 21 under construction across the U.S., with another 100 sites in the works over the next 12 months.
Click here for Lidl Denmark's full store list.
ALDI is investing $30.0 million in its distribution center in South Windsor, CT for the addition of 170,000 square feet to its existing 670,000 square-foot facility. The planned new buildings include a 70,000 square-foot refrigeration facility and 100,000 square-foot storage facility for dry goods. The DC is expected to accommodate its growing product line, increasing from 1,200 items to 1,600 items. The DC supplies 79 ALDI stores in New England, eastern New York, New York City and Long Island. The expansion will allow the facility to supply up to 102 stores. The nearest ALDI stores are in Vernon and East Hartford.
Last week, ALDI reopened its store in Concord, NC following a major renovation. The Company’s stores in Charlotte, NC began undergoing renovations as part of the Company’s nationwide plan to remodel and expand more than 1,300 U.S. stores by 2020. In February, ALDI announced an aggressive $1.60 billion investment in its stores, with nearly $48.0 million dedicated to enhancing stores in the Charlotte area. The Company intends to remodel 31 stores in Charlotte and the surrounding metropolitan area, with a goal of completing all remodels by the end of 2018.
Click here for ALDI's full store list.
Published reports indicated bebe stores was attempting to close all of its brick-and-mortar retail locations and focus exclusively on online sales. On Friday, bebe stores officially announced it will close its remaining 168 locations by the end of May. Liquidators Great American Group LLC and Tiger Capital Group LLC will handle going-out-of-business sales. The Company expects to recognize an impairment charge of $20.0 million. bebe hasn’t recorded a profit in four years and has been looking to stave off filing for bankruptcy like many of its peers in the apparel industry. According to published reports, in order to avoid bankruptcy, bebe began negotiations earlier this month with landlords to pay its way out of leases on closing stores.
Click here for bebe's full store list.
On April 18, Platinum Equity inked a deal to acquire the OfficeMax business in Australia and New Zealand from Office Depot. The Company had previously disclosed its intention to sell substantially all of its international businesses under a process that began in 2016. The transaction is subject to regulatory approval in each country and is expected to close within the next several months. Financial terms were not disclosed. Platinum Equity is a private equity firm that typically acquires and operates businesses that have been part of large corporate entities.
Click here for Office Depot's full store list.
365 by Whole Foods
The first 365 by Whole Foods Market store in Texas is set to open in Cedar Park on Thursday. The 30,000 square foot store is the first 365 to be built from the ground up. The low-cost store will offer a selection of fresh produce, ready-to-go prepared foods, grocery items and retail innovations, and will also offer two full-service eateries, Austin’s local bakery and beer garden, Easy Tiger, and JuiceLand. There are 4 competing food retail stores within three miles of the new store, including two H.E. But Grocery stores, one Natural Grocers, and a Randalls.
There are currently 365 by Whole Foods stores in Silver Lake, CA; Bellevue, WA; and Lake Oswego, OR (Cedar Park will be the 4th). The Company’s website lists future planned 365 stores in Akron, OH; Bloomington, IN; Concord, CA; Decatur, GA; Brooklyn, NY; Houston, TX; San Francisco, CA; Toledo, OH; and Upland, CA. Last week, we reported the Company will add three new 365 stores in the Los Angeles metro area, in Santa Monica, Long Beach and North Hollywood.
Click here for 365 by Whole Foods' full store list.
After years of anticipation, Meijer will open its first stores in the Upper Peninsula of Michigan, in Escanaba and Sault Ste. Marie, on May 18. The gas stations at each store opened on April 20. The supercenters are two of seven new stores Meijer is opening in Michigan, Indiana and Wisconsin this year.
Click here for Meijer'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.
Sportsman’s Warehouse is opening its first store in West Virginia on Thursday, in Morgantown. With the new store, Sportsman’s operates 79 stores in 22 states. Other recent openings include Cedar City, UT (February 16), Moses Lake, WA (February 23) and Wilmington, NC (April 6).
Click here for Sportsman's Warehouse's full store list.
Shoppers Drug Mart
On April 22, Loblaw’s Shoppers Drug Mart opened an “Enhanced Convenience Food location” in Vancouver, British Columbia. The concept offers 750 new fresh items and according to the Company, combines convenience with quality foods. Also available for the first time in a Shoppers Drug Mart will be sushi and baked goods. Shoppers Drug Mart said launches of the convenience food format will run until the end of July, including a fully enhanced location in Richmond and seven Grab & Go locations in Vancouver.
Click here for Shoppers Drug Mart's full store list.
REI is opening a store in Bethesda, MD today that was relocated from Rockville, MD. The former location was closed on Sunday. The 38,000 square-foot store will include a section for canoes, kayaks and stand-up paddle boards, which were not previously sold at the Rockville location. It will also include a designated space for classes and activities, as well as an expanded bike and ski repair shop. REI operates about 150 stores nationwide and has a 52,000 square-foot flagship store in Washington D.C. that opened in October 2016.
Click here for REI's full store list.
Fiesta Restaurant Group
Today, Fiesta Restaurant Group announced several initiatives as part of a strategic renewal plan, including closing 30 Pollo Tropical restaurants. The Company is closing all Pollo Tropical locations in Dallas-Fort Worth and Austin, TX, and Nashville, TN. Fiesta will continue to own and operate 19 Pollo Tropical units outside of Florida, including 13 in Atlanta and six in south Texas. Up to five closed restaurants may be converted to Taco Cabana restaurants.
The Company also announced preliminary comps decreased 6.7% and 4.5% at Pollo Tropical and Taco Cabana, respectively, for the first quarter 2017. Industrywide headwinds, which were particularly prevalent in Florida and Texas, and the impact of sales cannibalization continued to negatively impact top-line performance.
Click here for Fiesta Restaurant Group's Pollo Tropical full store list.
Subway Restaurants closed 359 restaurants in the U.S. last year, marking the largest number of closures since it began saturating the U.S. The 1.3% decline in restaurants brought its store count down to 26,744 at the end of 2016. The Company commented, “We will continue to relocate some shops to better locations and look for new sites – both traditional and non-traditional.” The Company’s sales fell 1.7% to $11.30 billion last year, while international sales rose 3.7% to $5.80 billion.
Click here for Subway's full store list.
Sears Holdings announced in January that it would shut down 150 stores this year, with most locations closing by April. Now the Company is said to be closing even more stores. Sears has quietly notified local media of about 10 additional Kmart and Sears closures over the last several weeks. The stores are in Florida, Hawaii, Michigan, New Mexico, Ohio, Pennsylvania, South Carolina and Washington; liquidation sales will start this month until the closures in July. Sears now has fewer than 1,500 stores, down from 2,073 five years ago.
In an effort to address its liquidity needs, the Company has continued its effort to monetize assets. Sears announced that it received non-overlapping bids in excess of $700.0 million on over 60 real estate properties. Additional asset sales are critical because, based on expected cash burn from operations, existing liquidity could evaporate before the end of the third quarter. The Company is also in discussion to refinance a $500.0 million loan that is due in July.
In addition, Sears appointed Rob Riecker as CFO. Mr. Riecker joined the Company in 2005 and has been serving as the Company’s controller and head of Capital Market Activities. He succeeds Jason Hollar, who has resigned to pursue another career opportunity.
Sears also provided preliminary first quarter results and several updates on the progress of its strategic restructuring program. Comparable store sales continued to plummet despite continued store closings, falling 11.9% on a combined basis.
Click here for Sears' full store list.
According to published reports, the acquirers of the City Sports brand name, logo and customer list recently began selling merchandise on their website, and plan to open stores under the name City Sports USA in large cities including Boston, New York, Philadelphia and Washington D.C. The Company previously closed all 26 of its stores in 2015 following a Chapter 11 filing. At that time, the intellectual property rights were acquired at a bankruptcy auction by Brent and Blake Sonnek-Schmelz for $400,000. The two brothers run a soccer chain called Soccer Post in Eatontown, NJ.
Click here for City Sports' full store list.
After years of speculation, Amazon released a statement officially confirming the Company will be launching retail services within Australia. It is actively searching for a large distribution and fulfilment center in the country. Amazon Web Services launched an Australian region in 2012, a Kindle Store debuted on Amazon.com.au in 2013, and the Company now has almost 1,000 employees in the country, to which it plans to add hundreds more. The Company stated, “We are excited to bring thousands of new jobs to Australia, millions of dollars in additional investment, and to empower small Australian businesses through Amazon Marketplace.” The Company also plans to launch Amazon Marketplace, a sales and logistics system for third-party retailers that will replicate those already operating in the U.S., Mexico, the U.K., Germany, France, Italy, Spain, India, China and Japan.
After proposing aerial fulfillment centers, Amazon was recently granted a patent to develop “Aquatic Storage Facilities” for its packages. The facilities would consist of a storage pool with a conveyor belt, a sonar transducer (to emit sounds) and a computer device that would be in communication with the sonar transducer to regulate the flow of packages within the pool.
Amazon also won a patent for “on-demand apparel manufacturing,” a system in which computer software collects clothing orders from all over the world and comes up with an efficient plan for fulfilling them. The patent also says that orders can be “organized by the computing environment into one or more groups of orders based on one or more productivity factors, such as size, shape, fabric type, or delivery location for the textile products.” The process may also be used for accessories, footwear, bedding, curtains, towels, etc., in a wide variety of materials including, but not limited to paper, plastic, leather, and rubber.
Amazon announced on April 21 that it plans to open three additional fulfillment centers in New Jersey. The new sites include 900,000 square-foot facilities in Cranbury Township and Edison, and a one million square-foot facility in Logan Township. Amazon launched operations in New Jersey back in 2012 and has grown its fulfillment workforce in the state to 13,000 full-time employees across existing facilities in Avenel, Carteret, Florence, Logan Township, and Robbinsville.
Finally, Amazon Books is opening its first Silicon Valley location in San Jose, CA this summer. The 5,500 square-foot store is one of the 12 currently planned Amazon bookstores in the U.S. Three are slated for California, with one currently open in San Diego and another opening shortly in Walnut Creek. Amazon speculated that they could open as many as 400 bookstores.