Openings, Closings, & Other Key Industry Highlights

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June 26, 2024



Last week JCPenney unveiled a new upgrade to its 1.67 million square foot Reno, NV distribution center. As part of the retailer’s $1 billion reinvestment strategy announced last year, JCPenney has invested $40 million in updating the equipment and infrastructure of the Reno facility to increase order efficiency and speed for online shoppers. The upgrade is expected to improve the customer experience by ensuring that online orders are completed with higher accuracy and shipped out more quickly.

JCPenney’s reinvestment strategy includes enhancing its digital capabilities, in-store physical and technology upgrades, and supply chain optimization. So far, the Company has refreshed 120 stores, including 70 completed in FY23, as part of its plan to refresh the entire chain. Recently, the Company also announced plans to close four stores. 

CEO Marc Rosen commented, “When we announced our $1 billion reinvestment strategy last year, this is exactly the type of upgrade we envisioned for our supply chain. This new system will provide JCPenney with the best-in-class equipment and technologies to better support our associates and serve our customers.”


Panera Bread is set to close its dough-making facility in Chandler, Arizona, resulting in the layoff of 64 workers.The closure, scheduled for August 15, marks Panera’s second manufacturing facility shutdown in 2024. Earlier this year, the company shuttered a Houston facility, affecting 84 employees. These closures align with Panera’s recent major menu overhaul, which introduced enhancements like larger protein portions and lower-priced offerings such as the Tomato Basil BLT and Ranch Cobb Salad, all under $10. Despite setbacks in its plans to go public, including a failed merger and staff cuts, Panera continues its operations under JAB Holding, which acquired the company for $7.5 billion in 2017.

Nothing Bundt

Nothing Bundt Cakes has opened its 600th store in Tampa, Florida, marking a key milestone in its expansion across 40 U.S. states and Canada. The company aims to reach 1,000 locations by 2027, having opened 41 new stores by June 2024 and 84 in 2023. This growth aligns with the launch of its first-ever seasonal lineup, the Taste of Summer Collection, featuring six flavors, including Churro Dulce de Leche and Key Lime.

Bobs Eastern Mountain

Mountain Sports, LLC, DIP operating approximately 50 sporting goods and apparel stores under the Eastern Mountain Sports (EMS) and Bob's Stores brands across seven Northeast states,filed for Chapter 11 bankruptcy on June 18 in the U.S. Bankruptcy Court for the District of Delaware.

CEO David Barton stated that the Meriden, Conn.-based retailer-initiated bankruptcy proceedings due to a liquidity crisis following a loan default imposed by PNC Bank. Despite efforts to restructure debt and negotiate with creditors, discussions did not yield a consensual resolution, leading PNC Bank to cease funding on June 12, 2024. As of the petition date there was $29 million in secured debt and $27 million in unsecured obligations owing to vendors and landlords. The Debtors plan to continue operations from larger stores and remotely, while vacating a distribution center in Meriden, CT. The Debtors stated that they intend to reorganize under Chapter 11.



Netflix is set to launch large-scale "Netflix House" retail stores in Dallas, Texas, and King of Prussia, Pennsylvania, repurposing former department stores into immersive spaces inspired by popular shows like "Bridgerton" and "Squid Game." These 100,000+ square foot venues aim to bring fans together with regularly updated experiences, unique food offerings, and retail opportunities. Netflix's move reflects a broader strategy to leverage its original content into physical attractions, following over 50 similar launches across 25 cities globally. The initiative seeks to maintain engagement with audiences beyond home viewing, aligning with a trend utilized by other entertainment giants, including Disney.


Loblaw Companies is advancing its expansion plans with the opening of nine new stores and the conversion of seven others so far this year, aiming to reach 40 new locations by the end of 2024. This effort is part of a broader initiative to invest over $2 billion in theCanadian economy and add approximately 7,500 new jobs. Loblaw also recently debuted a small-format store in downtown Toronto.

Clean Juice

Clean Juice, under new ownership by BRIX Holdings, LLC, has opened two new stores in Eugene, Oregon, and Prosper, Texas. These expansions mark the beginning of a nationwide growth initiative. With 79 stores now open across the country, Clean Juice plans to continue expanding throughout 2024 and 2025.

Chicken Salad

Chicken Salad Chick will expand its footprint in Arkansas with a new location slated in Bentonville. This restaurant, which will feature a drive-thru and a covered patio, marks the eighth Chicken Salad Chick location in the state.

Home Depot

The Home Depot announced the completion of its acquisition of SRS Distribution, aprominent distributor serving professional roofers, landscapers, and pool contractors, for approximately $18.25 billion. The acquisition, initially announced on March 28, 2024, aims to enhance The Home Depot's growth strategy by integrating SRS's strong market positions.


RaceTrac expanded its footprint in Indiana by opening a new 5,000 square feet convenience store in Indianapolis.

Naf Naf

Naf Naf Grill opened a second location in Charlotte, NC. Owner Neel Patel plans to add three more within three years under his five-unit agreement with the brand. Known for Middle Eastern cuisine, Naf Naf Grill began franchising in 2019 and now operates 39 locations across 13 states, aiming to expand further with new franchise partners nationwide.

Nordstrom Rack

Nordstrom Rack is expanding its presence in North Carolina with plans to open three new stores, including a debut location in Raleigh, which will span 32,000 square feet. The retailer, known for offering products from Nordstrom at reduced prices, is set to open stores in Mooresville and Matthews near Charlotte by fall 2024 and spring 2025, respectively, further expanding its footprint across the state.

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.