Openings, Closings, & Other Key Industry Highlights

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Hy-Vee is working on plans for a new 12,000 to 16,000 square foot concept store with a working name of Fast & Fresh in West Des Moines, IA, that could include a small Hy-Vee store with a drive-thru coffee shop on one end and a pickup lane for online grocery orders on the other. The project may also include a convenience store, grocery market, quick-serve restaurant and fueling stations. The Company’s most recent suburban stores are about 90,000 square feet. Hy-Vee currently operates gas stations with small convenience stores, and the new concept will expand on that. Many metro Hy-Vee stores offer online grocery ordering with either pickup or delivery and, according to the Company, online ordering has grown substantially. Walmart launched a similar project late last year when it opened its Walmart Pickup and Fuel stations in Alabama and Colorado. The Company also recently opened a fulfillment center in Urbandale, IA for its online grocery-ordering program Hy-Vee Aisles Online.

At the end of February, Hy-Vee opened a 36,000 square-foot grocery store offering a variety of prepared foods in downtown Des Moines. The store is serving as a model for other potential urban locations.

Click here for Hy-Vee's full store list.

Ahold Delhaize

Ahold Delhaize’s Food Lion division announced that it plans to remodel 71 stores in the greater Richmond, VA market in 2017. The Company will invest $110.0 million to remodel the stores, make additional price investments throughout the year, and invest in associates and the community. Remodels will include new store designs and an expanded variety and assortment that will feature more local products and organic selections. Richmond is the sixth Food Lion market to be remodeled and the stores are expected to be completed on a rolling basis between June and October 2017. The Company is currently remodeling 93 stores in the greater Greensboro, NC, market; it previously completed 142 stores in greater Charlotte, NC in 2016, 162 stores in the greater Raleigh, NC area in 2015, and 76 stores in the greater Wilmington, NC and Greenville, NC markets in 2014.

Click here for Ahold Delhaize's Food Lion full store list.

Camping World/Gander Mountain Company

In a filing with the Bankruptcy Court, Gander Mountain Company, DIP reported on bids received, and the auction held on April 27 and 28, regarding the proposed sale of its assets. The Company stated that the joint bid submitted by a subsidiary of Camping World Holdings, Inc., Tiger Capital Group, LLC, Great American Group WF, LLC, Gordon Brothers Retail Partners, LLC, and Hilco Merchant Resources, LLC was the highest and best bid submitted. Gander requested that the Court approve the group as the Successful Bidders. A hearing on the transaction is scheduled for tomorrow.

The total bid was $390.0 million, of which Camping World will pay $37.0 million for assets including Gander Mountain’s intellectual property, trademarks and inventory at Gander subsidiary Overton’s Inc., a boating and watersports retailer. The liquidators will acquire much of Gander Mountain’s outdoor gear and firearms inventory. Camping World plans to operate at least 17 of the Gander Mountain stores as a going concern. An auction for over 100 of the remaining leases will be held at a later date. Gander Mountain operated 160 stores prior to its bankruptcy filing. In mid-April, the Court approved the closing of 32 of the stores.

Click links above for full store lists.

Marsh Supermarkets

Marsh Supermarkets has announced it will close its pharmacy business, including at 37 locations throughout Indiana, by tomorrow. CVS Health has confirmed for our analysts that it has agreed to purchase Marsh’s prescription records and drug inventory; prescription records will be transferred between tomorrow and Friday. As a result of the sale, Marsh will not be allowed to sell liquor once the transaction is complete due to Indiana law; pharmacies can sell liquor but supermarkets can only sell beer and wine. Marsh confirmed that it will cease liquor sales by Friday, and will discount liquor by up to 40% to unload inventory. Financial terms have not been disclosed.

Click here for Marsh Supermarket's full store list.

Weis Markets

Last week, Weis Markets announced plans to invest $90.0 million in its growth in 2017, including 14 remodels, a new store in Brunswick, MD, two fuel centers and the continued expansion of its distribution center in Milton, PA. The Company also noted that it has seven new stores in the planning stages, with most of them expected to open in 2018. This compares to capex of $142.1 million in fiscal 2016, and $90.2 in fiscal 2015.

Click here for Weis Markets' full store list.

Alex Lee

Alex Lee acquired Souto Foods, which has locations in Atlanta, GA and Charlotte, NC, and offers an extensive selection of products from Latin America and Caribbean countries. Terms of the transaction were not disclosed. Alex Lee expects Souto Foods to complement the offerings of its subsidiary Merchants Distributors LLC that provides wholesale distribution to supermarkets. The acquisition enables MDI to expand its ethnic offerings and services. Souto Foods will continue to operate independently as a wholly owned subsidiary of Alex Lee, with Sebastian Souto as its president.

Click here for Alex Lee's Lowe's Food Stores full store list.


Lumber Liquidators

Lumber Liquidators reported first quarter sales increased 6.4% to $248.4 million, and comps were up 4.7%, an improvement compared to the 13.9% comp decline in the prior-year period. The Company opened two new stores during the quarter, bringing its total count to 385. Net loss improved 18.6% to $26.4 million. CEO Dennis Knowles commented, “We continue to be pleased with our top line sales performance, as we move from negative to low single-digit growth in comparable store sales. Our investments in a broader assortment and trend-right products are providing returns in sales and margin. We continue to take steps to resolve legacy legal and regulatory issues and optimize our cost structure.”

Click here for Lumber Liquidators' full store list.

The North West Company

On April 28, The North West Company announced that it agreed to acquire North Star Air Ltd., an Ontario-based cargo and passenger airline, for C$31.0 million; the deal is expected to close in June. The Company also plans to make immediate follow-up investments totaling C$14.0 million to expand North Star Air’s hub capacity and purchase an additional airplane. Management expects the acquisition and subsequent investments to generate approximately C$8.0 million in annualized EBITDA, in addition to C$2.0 million in savings from not having to incur expected carrier cost increases. The Company will fund the acquisition with cash on hand and borrowings under its revolving credit facilities. As of January 31, the Company had C$30.2 million in cash on hand, as well as C$173.7 million in revolver availability.

In contrast with other Canadian grocery retailers, the majority of The North West Company’s stores are located in remote areas in Northern Canada and Alaska, many of which are only accessible by airplane or boat. This acquisition will allow the Company to better control shipping costs to these stores; however, it will also require the Company to comply with regulations, including the requirement of 75% of the voting interests of a Canadian airline to be owned and controlled by Canadians. The Company will seek shareholder approval to create a variable voting share structure to help it fulfill this requirement at its annual meeting on June 14.

Click here for The North West Company's full location list.

365 by Whole Foods

Whole Foods has pushed back the opening of a 365 store in Houston, TX. The store is now expected to open in 2018 after being slated to open this year. The Company currently has four 365 stores in operation; the latest opened on April 26 in Cedar Park, TX.

Click here for 365 by Whole Foods' full store list.

Beacon Roofing Supply

Beacon Roofing Supply acquired Lowry’s Specialty Distribution, a distributor of waterproofing, sealants, air barriers and related products, with 11 branches in four states (California – 7, Hawaii – 2, Utah – 1, and Arizona – 1). The acquisition marks Beacon’s first entry into Hawaii. Co-owners Keith and Michael Musante will remain with the Company, and Craig Dirickson will continue to operate as president.

Click here for Beacon Roofing Supply's full store list.


According to published reports, Lidl is seeking out sites in both greater Cincinnati and Dayton. The Company announced earlier this year that it would open 20 U.S. stores this summer as part of 100 planned openings within a year. Lidl is shopping for four-acre sites that can house a 36,000-square-foot store and provide parking spaces for at least 180 cars. Such a move would intrude on Kroger’s home turf. While Kroger’s stores are generally almost four times the size of the planned Lidl stores, Lidl is known for its low prices and good quality. Other major players in the area include Walmart, Meijer and Aldi.


A 3,000 square-foot addition is planned for the 10,000 square-foot ALDI in Perry Township, OH. The expansion will include additional space for produce, dairy and bakery sections as well as a more “modern and energy-efficient design.” The addition is part of ALDI’s $1.60 billion nationwide effort to remodel and expand more than 1,300 stores in 32 states by 2020.

Meanwhile, seven Aldi stores in Columbia, SC, and the surrounding metro area will soon be undergoing renovations. All remodels are expected to be completed by the end of 2018.

ALDI’s second location in Newport News, VA, opened last week. The Company also operates nearby stores in Williamsburg, Portsmouth, Chesapeake, and Virginia Beach. Lidl has its first locations in the country currently under construction in Norfolk, Virginia Beach, Chesapeake, and Portsmouth. The first Lidl stores are expected to open this summer.

ALDI is building a 19,000 square-foot store in Elkhart, IN. It currently operates a nearby store, which it plans to close when construction of the store is completed. A timeline for the store opening has not yet been released.

Click here for ALDI's full store list.

Le Chateau

Le Chateau’s fourth quarter sales decreased 4% to $62.6 million, as a result of 24 fewer stores in operation compared to the prior year. Comps increased 1.2%, with regular store comps up 1.8%, and outlet store comps down 0.9%. Net loss widened 27.1% to $8.8 million. During the year, the Company opened one new store, renovated one existing location, and closed 25 underperforming stores. As of January 28, Le Chateau operated 187 stores, including 56 fashion outlet stores. For the first 12 weeks ended April 22, sales decreased 8.2%, with 27 fewer stores in operation; comps decreased 1.6%.

Click here for Le Chateau's full store list.


Published reports yesterday say rue21 and its term-loan lenders are in negotiations regarding funding for a debtor-in-possession facility, as the Company considers a formal restructuring as early as next week. The reports suggest a loan size of about $50.0 million is currently being discussed. This comes as rue21 has obtained a one-week extension on a forbearance agreement after missing an interest payment in early April. In addition to its $538.0 million term loan, which matures in 2020, rue21 has a $150.0 million asset-based loan due in 2018 and a $250.0 million in bond debt that matures in 2021. Last month, rue 21 announced it would close about 400 of its stores in the U.S. to focus on its online presence; the Company has more than 1,100 stores operating across 48 states. Apax Partners took the Company private in a $1.10 billion leveraged buyout in 2013.

Click here for Rue21's full store list.


Starbucks reported second quarter sales growth of 6% to $5.29 billion. Consolidated comps increased 3%, including 3% growth in the U.S. that was comprised of a 4% increase in average ticket and a 2% decrease in transactions. China comps rose 7%, driven by a 6% increase in transactions. Net income rose 13.5% to $652.8 million.

The Company said it was reviewing its Teavana business after the Company’s mall stores dragged down overall sales.

CEO Kevin Johnson, who succeeded Howard Schultz in April, commented, “With our U.S. business accelerating throughout the quarter and strong performance in China, we are posed to deliver strong revenue growth in the second half and into the future.” Nevertheless, stalling growth from its main business in the U.S. prompted it to lower its full-year EPS target to $2.06 – $2.10, from $2.09 – $2.11. The Company also said revenue growth would be at the lower end of its previously forecast range of 8% – 10%.

Meanwhile, Starbucks plans to open a four-level roastery flagship in Chicago, IL in 2019, its largest space yet for the high-end concept that the Company is rolling out around the world. At 43,000 square feet, Chicago’s is the largest among six Roastery emporiums that Starbucks has announced. The concept is an interactive format where customers can see rare, small-batch Reserve beans roasted, brewed and packaged. It will be the third Roastery in the U.S., following one that opened in Seattle in 2014; another is expected to open in New York in 2018.

Click here for Starbucks' full store list.


Bojangles’ announced a multi-unit development agreement with new franchisee MSR Restaurants, LLC of Mitchellville, MD.“We are pleased to welcome MSR Restaurants, LLC to the Bojangles’ family of franchisees”Tweet this The development agreement is anticipated to result in multiple new Bojangles’ restaurants in the Washington, D.C. metro area over the next several years. The Company has been actively expanding its footprint, recently signing agreements to bring Bojangles’ into Pennsylvania’s Lehigh Valley region and Virginia’s Chesapeake Bay area. Additionally, Bojangles’ has recently refranchised its Maryland restaurants in New Carrollton, Hillcrest Heights, Landover, Upper Marlboro and Oxon Hill, which are now independently owned and operated by MSR Restaurants, LLC.

Click here for Bojangles' full store list.

Southeastern Grocers

Southeastern Grocers has confirmed that the Winn-Dixie store in Gulfport, MS will close in June. It is one of six stores the Company operates in South Mississippi. No reason was provided for the closure. The Company said there are no plans to close any other stores in the area.

Click here for Winn-Dixie's full store list.

Texas Roadhouse

Texas Roadhouse reported first quarter sales growth of 10.1% to $567.7 million. Comps increased 3.1% at Company restaurants and 3.8% at domestic franchise restaurants. Net income fell 3.6% to $34.3 million. Results included a pre-tax charge of $14.9 million ($9.2 million after-tax), related to a legal matter which was settled during March 2017. During the quarter, the Company opened six Company-owned restaurants and two franchise restaurants.

Looking ahead at fiscal 2017, the Company expects positive comp growth; about 30 restaurant openings, including six Bubba’s 33 restaurants; food cost deflation of 1% – 2%; mid-single digit labor inflation; and total capex of $170.0 million.

Click here for Texas Roadhouse's full store list.

Dollar General

The FTC has approved Dollar Express Stores LLC’s Asset Purchase Agreement to assign the leases and sell all Dollar Express stores that it owns to Dollar General; other liabilities were not included in the transaction. The 323 locations were still being operated under the Family Dollar banner and were part of a total of 330 stores divested by Dollar Tree in 2015 in order to gain regulatory approval for its acquisition of Family Dollar.

Click here for Dollar General's full store list.

Trader Joe's

Trader Joe’s will open a new store in Hoboken, NJ on May 19. The store is approximately 11,700 square feet. The Company currently operates 12 stores in the state. There are three competing food retail stores within one mile of the new store, including an Acme Market, C-Town, and Key Food.

Click here for Trader Joe'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.


Aaron’s reported first quarter sales decreased 1.2% to $844.6 million. By segment, Aaron’s Business decreased 13.4% to $470.2 million, with lease revenue and fees down 13.2%; comps decreased 9.3%. There were 937,000 customers as of March 31, down 6.7% from the prior year, and the segment operated 1,155 Company-owned stores and 688 franchised stores. Progressive Leasing’s revenue increased 19.4% to $366.1 million; there were 604,000 customers as of March 31, a 19% increase from the prior year. DAMI’s revenues were $8.2 million, up from $4.8 million in the prior year. Overall, profit rose 7.3% to $53.3 million. CEO John Robinson said, “We’re very pleased with our first quarter results. Strong performance at Progressive Leasing and solid execution in the Aaron’s Business drove increased customer count, lease revenue and earnings in the quarter. Progressive built on its impressive momentum in door and invoice growth, and its lease portfolio is generating consistently strong performance. We remain optimistic about our ability to continue gaining share in Progressive’s large, addressable market.”

Click here for Aarons' full store list.

Dunkin' Brands

Dunkin’ Brands signed a multi-unit store development agreement with existing franchise group Maruti Donuts to develop six Dunkin’ Donuts restaurants in Evansville, IN, including one multi-brand location with Baskin-Robbins. The group’s first new restaurant is planned to open in 2018. Currently there are 65 Dunkin’ Donuts restaurants located throughout Indiana, and the Company is continuing to recruit franchisees in surrounding areas.

Click here for Dunkin' Donuts' full store list.


Rent-A-Center’s first quarter sales decreased 11.2% to $742.0 million, and comps were down 7.8%. Core U.S. sales decreased 16% to $490.9 million, and comps fell 12.5%. Acceptance Now sales rose 1.8% to $234.5 million, and comps were up 2.9%. Meanwhile, Mexico sales decreased 19.3%, and comps were down 6%; franchising sales decreased 23.8%. The Company recorded a loss of $6.7 million, compared to a profit of $25.1 million last year; the loss is related to charges totaling $8.7 million due to the closure of Acceptance Now locations, reductions in a field support center, litigation claims settlement, incremental legal and advisory fees, and the closure of Mexico stores in the prior year. CEO Mark Speese said, “During the first quarter, Rent-A-Center delivered solid progress on our near-term strategies to strengthen the Core U.S. business, as demonstrated by our sequential improvement in our key operating metrics and financial results. While we are encouraged by our recent efforts, we recognize there is still work to be done and we remain focused on executing our comprehensive strategic plan to restore growth and improve profitability over the long-term.”

Click here for Rent-A-Center's full store list.


Last week, Bashas’ closed its oldest Phoenix location, opened in 1956. Plans call for residential and retail development on the site. There are six competing food retail stores within three miles of the closed store, including two Fry’s Food Stores, two Safeways, a Natural Grocers, and a Trader Joe’s. There is also another Bashas’ store located about two miles away from the closed store.

Click here for Bashas' full store list.

Dollar Tree

Dollar Tree is investing $110.0 million to build a 1.2 million square-foot distribution center in Warrensberg, MO. The facility will support Dollar Tree’s new and existing stores in the Midwest and is expected to be operational by May 2018. Dollar Tree operates the Dollar Tree and Family Dollar discount brands and currently operates 11 U.S. distribution centers. The Company opened 566 new stores during fiscal 2016 and anticipates 650 new stores this fiscal year.

Click here for Dollar Tree's full store list.


Target announced in February that it will spend $2.00 billion this year and a total of $7.00 billion over the next three years to remodel 600 stores by 2019. In March, the Company said it planned to remodel 110 of its stores across the country this year, with a third of those renovations slated for the North Texas area. More recently, Target disclosed that it is planning to spend $220.0 million to remodel more than half of its Dallas-Fort Worth, TX stores this year. It operates 47 stores in the market, which is one of the Company’s oldest. The 28 stores that are getting remodeled will stay open during the work, which will take 12 – 16 weeks for each store. In addition to new lighting, paint, floors and fixtures, stores will get self-checkout lanes and new order pick-up counters. Apparel, home and beauty merchandise will have updated displays. Stores in Addison, Irving and Rockwall will add Starbucks. The Cityview store in Fort Worth will be getting the most extensive changes this fall, similar to the Company’s “next generation” store scheduled to open near Houston in October. That store will have two shopping areas and entrances, one for quick trips to pick up groceries.

Separately, a new Target will open on New York’s Lower East Side in NYC in March 2018 as part of a development currently underway in the neighborhood. The 22,500 square-foot store is about one-fifth the size of a regular Target. The opening will be the Company’s fourth location in Manhattan, and is part of Target’s larger expansion into New York City. Target is also working to open locations in Herald Square and in the East Village. It also announced that it would open its first Queens location in 2018, a 22,700 square-foot store in Jackson Heights. Target opened its first small-format store in Manhattan in 2016, in the Tribeca area. The chain said it will soon start testing a same-day delivery service for in-store purchases from its Tribeca store to anywhere in Manhattan and to parts of Brooklyn and Queens. The service will carry a small fee. By the end of 2019, Target plans to operate more than 130 small-format locations nationwide.

Meanwhile, Target has reportedly decided to shut down its Food + Future lab, first opened in 2016 in partnership with MIT Media Labs and design firm Ideo, after it could not find a buyer at what it deemed to be an appropriate price. The lab will close in June.

Click here for Target's full store list.

The Marcus Corporation

The Marcus Corporation’s first quarter sales increased 25.9% to $158.0 million. Marcus Theatres reported a 38.4% increase in revenues and a 38.7% increase in operating income. The 14 Wehrenberg Theatres locations acquired in December 2016 made a positive contribution to results; the acquisition included 197 screens in Missouri, Iowa, Illinois and Minnesota. Marcus Hotels & Resorts revenue per available room for comparable Company-owned properties increased 4.4%. The Company plans to add 29 villas to the Grand Geneva Resort & Spa in Lake Geneva, WI in May, and it is also a minority investor in a Marriott hotel opening in Omaha, NE this summer. Profit rose 73.4% to $9.5 million. CEO Gregory S. Marcus said, “Fiscal 2017 is off to an excellent start, with revenues that were higher than any quarter in our history. Marcus Theatres drove our strong first quarter performance, setting new all-time records for both revenues and operating income and continuing to outperform the industry. Marcus Hotels & Resorts achieved increased revenues and also outperformed the industry during its traditionally slower winter season.”

Click here for Marcus Theatre's full location list.


Amazon reported results for its first quarter ended March 31. Strong performance across all of Amazon’s three business divisions boosted quarterly revenues 23% to $35.7 billion. North America sales grew 24%, and International sales rose 16%, while sales of the fast growing Amazon Web Services cloud computing division surged 43%. Excluding the negative impact of foreign exchange, international sales rose 21% and consolidated revenues were up 24%.

In a subsequent conference call, management elaborated on plans for brick-and-mortar concepts. The Company currently has six bookstores and has announced plans for another six. The Amazon Go concept is in beta in Seattle, and “while that’s not large and only one site,” management “is excited about the potential there and the use of the technologies of computer vision, sensor fusion and deep learning. We think that has a lot of potential.” The Company will continue to expand its pop-up stores and college pickup points. With respect to its Air Cargo Fleet, it nowhas 18 planes in service for Amazon and announced rights to lease up to 40 planes.

In other news, according to a recent report, Amazon Prime membership is estimated to have 80 million members in the U.S., each spending an average of $1,300 a year. This compares to $700 a year being spent annually by non-members shopping on Amazon. The report says that the membership numbers in the U.S. have grown by 38% in the past year, from 58 million members a year ago, and that 60% of all Amazon customers are paying $99 a year for Prime benefits.

Finally, Amazon is exploring the possibility of selling custom-fit clothing and has considered acquiring clothing manufacturers to further expand its presence in the category.

Bob Evans Restaurants

On May 1, Bob Evans Restaurants completed its previously announced acquisition by an affiliate of Golden Gate Capital for Bob Evans Farms for $565.0 million and the assumption of certain working capital liabilities. CEO Saed Mohseni will continue to lead the Company, which will remain headquartered in the greater Columbus, OH area. The Company owns and operates 523 restaurant locations.

In other news, Four Corners Property Trust, a real estate investment trust (REIT) engaged in the ownership of net-leased restaurant properties, acquired 16 Bob Evans Restaurants as part of a $35.1 million sale-leaseback transaction. The transaction was completed simultaneously with Golden Gate Capital’s acquisition of Bob Evans Restaurants. The 16 acquired properties are located in Delaware, Indiana, Maryland, Michigan, New York, Ohio, Pennsylvania, Virginia and West Virginia. The properties are occupied under a single triple-net master lease with a 20-year initial term.

Click here for Bob Evans Restaurants' full store list.

Darden Restaurants

Darden Restaurants completed the previously announced acquisition of Cheddar’s Scratch Kitchen for $780.0 million in an all-cash transaction from its stockholders, including private equity firms L Catterton and Oak Investment Partners. Darden also paid $10.0 million for certain Cheddar’s transaction-related tax attributes and reimbursed its equity holders for pre-closing capital expenditures on new restaurants under development. Darden funded the acquisition with the proceeds of a $500.0 million offering of 3.85% Senior Notes due 2027, which were issued on April 18, together with cash on hand. With the acquisition now completed, Cheddar’s joins Darden’s portfolio of differentiated brands which also includes Olive Garden, LongHorn Steakhouse, Yard House, The Capital GrilleSeasons 52, Bahama Breezeand Eddie V’s.

Click links above for full store lists.

Del Taco Restaurants

Del Taco Restaurants recently signed a multi-unit franchise development agreement that will allow it to reenter Tennessee with the first of seven units in the state to open in the Chattanooga, TN area by 2019.

Click here for Del Taco's full store list.

Papa Murphy's Holdings

Papa Murphy’s Holdings is testing delivery at seven restaurants in the Portland, OR, and Seattle, WA areas with Amazon Restaurants. The test marks the Company’s first foray into bringing pizza directly to customers. The service is available to Amazon Prime customers, either through one of the Company’s mobile apps or on its website. Users can place orders with participating restaurants and track the status of their delivery. The Company is also in talks with other third-party providers to expand the service to other restaurants.

Click here for Papa Murphy's full store list.