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Linens 'n Things Files for Bankruptcy Bedding-and home-furnishing retailer Linens 'n Things filed for Chapter 11 bankruptcy protection on Friday, succumbing to the difficult consumer environment. The company's parent, Linens Holding Co., filed its petition in bankruptcy court in Delaware. Linens 'n Things operates about 589 retail stores in 47 states. Reported by A/P, May 3, 2008. Jewelry Chain Zales Looks to Cut More Costs Zale Corp. will cut about 20% of its headquarters work force and close 23 more stores in addition to January's announcement as the company continues its restructuring amid a weakened economic environment. Reported by WSJ, February 28, 2008. Wilsons to Convert to Women's Chain Wilsons The Leather Experts Inc. said it plans to close 160 stores in an effort to reduce costs. The company will remodel its 100 remaining mall stores to a new "Studio" concept, which will be a brand-driven store for women focusing on fashion accessories. Wilsons' 120 outlet stores will not be affected by the new mall store initiative. Reported by DNR, February 19, 2008 Charming to Close Nearly 150 Stores Charming Shoppes Inc. will close nearly 150 under performing stores and shutter its new Petite Sophisticate chain as the women's apparel retailer continues to restructure. Reported by WSJ, February 10, 2008 AnnTaylor to Cut Jobs, Close Stores AnnTaylor Stores Corp. said it will close 117 stores and cut 180 jobs in its corporate headquarters (13%) in an effort to save money amid a difficult retail environment. It will close 64 of the stores in fiscal 2008 with expected savings of $20 - $25 million. The remaining 53 stores will close within the next two years, creating a total savings in fiscal 2009 and 2010 expected at $50 million each year. Reported by Chain Store Age, January 31, 2008. Zale Announces Store Closures Zale Corp. said this week that it will close 60 unprofitable Zales, Gordon's and Piercing Pagoda locations within the next 90 days and several dozen more later this year. Reported by Chain Store Age, January 17, 2008 Liz Claiborne to Close Stores Liz Claiborne Inc. said last week that it is shuttering its 54-store Sigrid Olsen chain. Reported by Chain Store Age, January 17, 2008 Pacific Sunwear to Shutter Demo Division Pacific Sunwear of California Inc. said it will close its 154 Demo stores. Pac Sun said the store closings are the result of a review of strategic alternatives for the brand, which features urban apparel. This latest decision follows the closure of 74 under performing Demo stores in May. The remaining stores will close by May of 2008. Reported by Chain Store Age, January 4, 2008 Talbots to Drop Kids, Mens Lines The Talbots Inc. said that it will exit its Talbot Kids and Talbots Mens concepts by September. The move means Talbots will close approximately 78 stores throughout the U.S. including 66 Talbots Kids and 12 Talbots Mens stores. Reported by Boston Business Journal, January 4, 2008 CompUSA is Pulling the Plug Consumer electronics retailer CompUSA Inc. said it would close its stores after the holidays. CompUSA operates 103 stores. Reported by Los Angeles Times, December 8, 2007 Coach Continues Strong Growth The company has upped its expansion potential from 400 to 500 full-price stores in North America, including 20 in Canada. At the end of fiscal 2007, the chain offered 259 stores and 93 factory outlets. Reported by Chain Store Age, November 2007 Movie Gallery Closes 520 Stores to Leverage Operations The struggling Movie Gallery chain is closing 520 stores across the country to pay down debt and alleviate its financial burdens. The closings will reduce the 4,500-store chain's base by about 12%. Reported by Retailing Today, October 2007. Bombay Co. to Shutter U.S. Stores Bombay Co., a home furnishings retailer that operates about 400 stores in the U.S. and Canada, will close its U.S. locations after the holiday season pending court approval of the plan. Bombay Co. filed bankruptcy in September, and Retail Partners and Hilco Merchant Resources teamed up to purchase its U.S. inventory. Reported by Clarion-Ledger (Jackson, Miss.), October 13, 2007 Timberland Closing 40 Store Internationally The company is closing its larger-format stores, most of them in the US, and will focus on smaller units globally. Reported by Globe St.RETAIL, September 26, 2007 Dick's Sporting Goods Expects More Store Growth CFO, Timothy Kullman announced that the company expects its number of stores to rise 15% annually, with the potential for 800 stores throughout the country. He expects growth in both existing and new markets. Reported by Chain Store Age, September 17, 2007 JoS. A. Bank Aims for 600 Units by 2012 In October, JoS. A. Bank will open its 400th unit. Robert Wildrick, CEO, said the goal of 600 units by 2012 did not include acquisitions, which might occur. Reported by GlobeSt.RETAIL, September 13, 2007 Foot Locker Works Toward Turnaround Foot Locker announced they are seeking strategic alternatives and will close 250 U.S. stores as they continue to push for more European business. Reported by Wall Street Journal, July 31, 2007 Blockbuster Plans to Close 282 Stores Blockbuster plans to close 282 under performing stores this year to improve operating margins and expand domestic share. Blockbuster's effort to accelerate closures of under performing and marginal U.S. stores comes as the company is spending heavily to beef up its on-line rental business to compete with Netflix Inc. Reported by The Associated Press, June 28, 2007. Best Buy Plans 400 store Growth Best Buy said it was increasing North American growth plans by 400 stores, bringing its goal to 1,800. Reported by The Associated Press, June 27, 2007 Chico's to Add 130 to 145 Stores The company plans to expand its square footage by more than 20 percent this year, according to Retailnet.com. The company hopes to add 130 to 145 stores, including 55 to 60 Chico's units; 55 to 60 White House/Black Market stores; and about 20 Soma by Chico's locations. Additionally, Soma will become Soma Intimates. As reported by ddimagazine, May 21, 2007. Wet Seal to Expand Store Count As of Feb. 3, Wet Seal operated 430 stores, 92 of which were under the Arden B name. Plans are to grow the store count 15% annually. It plans to open 68 to 72 stores this year, with 5 under the Arden B banner and the rest in its namesake format. As reported by Chain Store Age, April 2, 2007. Gymboree to Add Stores Gymboree Corp. plans to open at least 90 stores in 2007, including 20 Gymboree units, 45 outlet locations and 15 Janie and Jack shops. The retailer plans to open an additional 10 stores that will involve a new concept. Its 17-store Janeville division, which was targeted at women in their mid-30s, has been completely closed. Reported by Chain Store Age, March 16, 2007 Dick's Sporting Goods to Open 62 Stores Dick's Sporting Goods Inc. said it plans to open 45 nameplate locations and 17 Golf Galaxy stores in 2007. Reported by Chain Store Age, March 13, 2007 CompUSA Closing Stores The struggling retail chain, CompUSA, disclosed last week it is closing 126 of its 229 stores. Reported by Indianapolis Business Journal, February 28, 2007. Gap to Close Forth & Towne Apparel Retailer Gap Inc. said it will close all 19 of its Forth & Towne concept stores following an unsuccessful 18-month pilot. Reported by Reuters, February 26, 2007. 100 More Justice Stores Due This Year Tween Brands Inc., the so-called tween retailer which operates 563 Limited Too stores for girls ages 7 to 14, announced it will add 20 to 30 stores this year to its Limited Too division and will build 100 more Justice stores this year to add to its current 159 store count. Reported by The Columbus Dispatch, February 22, 2007. Best Buy Outlines Store Expansion Plans Best Buy Co. Inc. said on Wednesday it plans to open about 90 new stores in the United States by the end of its next fiscal year, March 1, 2008. The company will operate more than 900 stores in the U.S. when this expansion is complete. Reported by Yahoo Finance, February 21, 2007. Chico's Plans 80 Units Women's specialty clothing retailer Chico's FAS, Inc, which opened 150 stores in 2006, announced it will add at least 80 stores by the end of this year, bringing the chain to 1,000 locations in an expansion of its Chico's, White House/Black Market, Soma by Chico's and Fitigues brands. Reported by GSR, February 13, 2007. Nike to Open 50 Stores in US Gary DeStefano, president of global operations for Nike Inc., announced plans to open 50 additional stores within the United States in the next three years. Reported by DSN Retailing Today, February 6, 2007. Charlotte Russe Ramps Up Charlotte Russe Holdings Inc., with 392 stores at the close of 2006, announced it will open at least 50 new stores in 2007 and expects to surpass 600 units in the next three to five years. Reported by GSR, January 26, 2007. Coach Adding 40 Stores Leather handbag and accessory retailer, Coach Inc., which currently has 237 retail stores and 90 factory locations, announced their plans to open 40 additional stores in North America in 2007. Reported by GSR, January 24, 2007. Pac Sun Closing 74 Stores Pacific Sunwear announced that it intends to close 74 under performing stores from their demo division in the first half of 2007 that have not met their operating criteria. Reported by DSN Retailing Today, February 6, 2007. Stride Rite Plans Store Growth The Lexington, Massachusetts retailer which operates 318 stores, says it will increase its presence by between 5% and 10% in 2007 after adding 29 new stores in 2006. Reported by GSR, January 12, 2007. American Eagle Expands Chains The Warrendal, PA-based retailer operating more than 900 stores in North America announced that in addition to opening 50 new American Eagle stores in 2007, it will continue to grow its sub-brand concepts by opening an additional 15 units of its intimate apparel chain, Aerie by American Eagle, and 15 new Martin + Osa stores, which targets an older customer. Reported by GSR, January 12, 2007. Stage Stores Outlines Aggressive Growth Plans Apparel, accessories, cosmetics and footwear retailer, Stage Stores, announced that it will double the number of new store openings from an average of 33 to 70 per year beginning in fiscal 2008. Reported by DSN Retailing Today, January 28, 2007. Frederick's of Hollywood Goes Public with Merger FOH Holdings, the parent company of Frederick's of Hollywood, and apparel maker Movie Star said Tuesday they agreed to merge in a deal that allows the lingerie retailer to become a publicly traded company without an initial public offering. The new company will seek to refinance both companies' existing bank facilities and Frederick's term debt on more favorable terms, the companies said, adding that they plan to open 50 new Frederick's stores over the next three years. In the first half of 2007, the company will open one store in Las Vegas and two in Florida. Reported by Reuters, New York, December 12, 2006. Genesco Announces Agreement to Acquire Hat Shack, Inc. Genesco announced that its Hat World subsidiary has entered into an agreement to acquire Hat Shack, Inc. Marietta, Ga. Hat Shack had been a primary competitor of Hat World in the southeastern U.S.. The 49 Hat Shack units will be added to the more than 700 stores already in the Hat World chain. Reported by PRNewswire-FirstCall, December 11, 2006. Foot Locker to Open New Chain Foot Locker said it plans to open a new retail chain called "Footquarters" selling inexpensive footwear for the entire family. Some 30 stores will be opened next spring, with a possibly rapid expansion to follow. Reported by Reuters, November 16, 2006. Sporting Goods Mega-Retailer to Buy Golf Galaxy Dick's Sporting Goods, Inc. has agreed to buy Golf Galaxy Inc. for about $225 million. Minnesota-based Golf Galaxy has 61 stores in 24 states. The deal between Golf Galaxy and Dick's, which bought Indianapolis-based Galyan's Trading Co. two years ago, is expected to close in early February. Pittsburgh-based Dick's has about 300 stores nationwide. Reported by Indianapolis Business Journal, November 14, 2006. GNC to Explore Sale of Company Three months following the company's second withdrawal of an initial public offering, GNC Corp. announced it has decided to pursue strategic alternatives, which may include pursuing an IPO or selling the company outright. GNC has more than 4,800 retail locations throughout the United States (including more than 1,000 franchises and more than 1,200 Rite Aid store-within-a-store locations) and has franchise operations in 46 international markets. Reported by DSN Retailing Today, November 7, 2006. Eddie Bauer In Private Equity Deal Sun Capital Partners and Golden Gate Capital will acquire clothing retailer Eddie Bauer Holdings for about $614 million, the companies announced. The deal is expected to close in the first quarter of 2007. Eddie Bauer put itself up for sale last May after it unsuccessfully attempted to expand beyond its core outdoor clothing to teen fashion. Sun Capital, based in Boca Raton, Florida has extensive retail holdings... Reported by Forbes.com, November 13, 2006. Lands' End Sets up Camp in Sears Department Stores It's a move that retail experts say should have happened four years ago, when Sears bought the Dodgeville, Wis.-based catalog merchant. The retailer is rolling out distinct Lands' End shops inside 100 Sears stores by November 1st. Sears has turned the reins over to Lands' End, allowing executives there to romance the merchandise in Sears' stores just as they have for decades in the catalog. The Lands' End shops are typically 10,000 square feet. They stand out from the rest of the store with carpeting, navy walls, and comfy couches and chairs. And in an effort to make it easier on shoppers, Lands' End has installed kiosks in the store to take online orders with no shopping charges and will also take returns in the store that were purchased online or in the catalog. Reported by Chicago Tribune, October 15, 2006. Midnight at the Mall Eager to steal each other's Black Friday sales, more malls are planning to open their doors as Thanksgiving ends. Mall operators say the typical 5 a.m. store openings on Black Friday just aren't good enough anymore for anxious bargain hunters. Reported by CNN Money, October 10, 2006. Office-supplies Retailer Details Expansion Plans Staples, the nation's largest retail chain specializing in office-oriented products, recently opened three stores in Miami and plans to add 20 to 25 new stores by the end of next year. Also in 2007, Staples expects to enter the Denver market and plans to open a multi-channel warehouse facility in Colorado. Meanwhile, the company is opening four stand-alone copy and print stores in Boston this month. Reported by MarketWatch, October 10, 2006 Ross Stores to Buy and Convert 46 Albertsons Ross Stores Inc., the off-price retailer, said that it will acquire 46 Albertsons LLC real estate sites in California, Florida, Texas, Arizona, Colorado and Oklahoma. It will take possession of some of the sites as soon as November and plans to open stores on the sites beginning as early as next March. Reported by Reuters, October 10, 2006. Tower Records to Liquidate Tower Records, which has 89 stores in 20 states, was sold to Great American Group, which plans to liquidate the retailer. The going-out-of-business sale begins immediately and will eventually result in the elimination of the jobs of some 3,000 Tower employees. Reported by Chain Store Age, October 9, 2006. Victoria's Secret Giving Pink its Own Drawer Victoria's Secret plans to give its Pink line of underwear for younger women a little more exposure by testing Pink stand-alone stores in Birmingham, Al., Detroit and San Francisco. Pink products are available within Victoria's Secret's 1,000 stores, but the new line could be growing large enough to become a separate division of Limited Brands. Reported by The Columbus Dispatch, October 5, 2006. Starbucks Pours It On New store openings are the primary driver of Starbucks' revenue growth, and the company is caffeinating its already aggressive national and worldwide expansion plans. It opened 1,534 new stores through the first three quarters of its current fiscal year on its way to at least 2,000 in 2006. It is targeting at least 2,400 more new stores next year, according to Starbucks' most recent quarterly report and other SEC filings. Starbucks had 8,345 stores in the United States and 3,439 more across 36 other countries as of July 2nd. The company has set a long-term goal of 30,000 stores worldwide, split between the United States and the rest of the globe. Reported by St. Louis Business Journal, October 2, 2006. Clothing Retailer's Winning Game Plan: Rock-bottom Prices Steve & Barry's, the retailer known for its athletic gear, will start selling women's underwear by Thanksgiving, and casual work clothes after that. The goal is to increase womenswear sales to 40 percent in the next few years from 25 percent today. Menswear is now 65 percent of sales, with kids at 10 percent. Steve & Barry's executives see nothing but holiday cheer. The chain has doubled the number of stores nationwide from a year ago, to 143 stores in 32 states, and is aiming to have 568 stores by 2008. The stores measure an average 60,000 square feet. Reported by Chicago Sun-Times, September 19, 2006. Wilsons Leather's Gamble The Brooklyn Park-based retailer is undergoing a transition from its 'price-only proposition' and heavy inventory of leather garments to a more upscale approach emphasizing leather accessories. Another facet of Wilson's new merchandising, faster turnover of inventory. Rather than stock store shelves with the same merchandise for months, Wilsons plans to carry leather accessory collections for a limited time, sell them out and then replace them with something different. The streamlined shops feature higher-priced handbags, women's merchandise grouped by colors and display-window posters featuring bigger-than-life models adorned in various Wilsons attire. And starting in 2007, Wilsons' "next-generation look" is expected to place leather accessory collections in the center of shops and cover them with a canopy to create a store-within-a-store feel. Next up: a multimillion-dollar makeover of its nearly 300 mall-based stores and another stab at reaching the upper end of the market. Reported by Pioneer Press, September 17, 2006. Advance Auto Hits 3,000 Stores Advance Auto Parts is opening its 3,000th store in Salina, Kansas. This store will also offer a variety of free services including windshield wiper installations, electrical system checks, battery installations and motor oil and battery recycling. In addition, the store offers fast parts delivery to local garages and automotive repair center. These services are currently available at all Advance Auto locations. "With this store opening, we are now halfway to our goal of operating 6,000 stores nationwide," said Michael Coppola, chairman, president and ceo. Reported by DSN Retailing Today, September 11, 2006 Aeropostale Looks To Expand Aeropostale is still very much in a growth mode. With 715 stores nationwide, the teen apparel retailer has set a goal of 1,000 stores for its namesake concept. A second concept, Jimmy'Z, currently has 14 locations. "Jimmy'Z will be the catalyst for future growth," said company chairman and CEO Julian Geiger. "We are looking for more stores [Jimmy'Z] next year - in the same 3,500 to 3,800 square foot range." Reported by Chain Store Age, September 7, 2006. New Store Puts Middle-Age Men on Road Map Raj Shah, an entrepreneur from Seattle who has spent most of his career specializing in clothing for young men, plans to make Chicago the hub for a new concept called Road -- pant, jackets and shirts aimed at men 30 to 55. The first Road store in the Chicago area is scheduled to open at Northbrook Court in October. The concept debuted in Seattle last October. Reported by Chicago Tribune, August 8, 2006. Dick's Now Tops In Specialty Sports Dick's Sporting Goods emerged as the top market share leader for specialty sporting goods retailers in 2005. Dick's plans to increase its store base from 255 stores, as of year-end 2005, to about 800 stores. The company has said it plans to grow at a rate of about 15% per year. "There is not a real emerging No. 2 player to compete with Dick's," said Jason West, an analyst with Deutsche Bank. "The Sports Authority continues to be a solid No. 2, but it is not growing its store base at this point." Comp USA to Shutter Stores CompUSA, a Dallas technology retailer, said Thursday it will shutter 15 stores in 11 markets over the next two to three months. The company said the stores are "under-performing" and that "neither relocation nor cost-cutting tactics will help solve the issue." Aside from an Irving location, the other stores to close are located in Georgia, Illinois, Michigan, Missouri, California, Tennessee, Arizona, Washington and New York. CompUSA says it operates more than 240 stores in 90 large metro markets in the United States and Puerto Rico. Target Picking up Mall Sites as Department Stores Condense As Target Corp. continues to expand, the company has added more mall stores to its portfolio. The Minneapolis-based retailer has traditional focused on the stand-alone locations, but is increasingly turning to mall stores as the department-store industry consolidates and the real estate becomes scarcer in some markets. Roughly 100 of Target's 1,444 stores are located in malls. Reported by Minneapolis/St. Paul Business Journal, July 31, 2006. Liz Expanding Juicy Couture The push comes as Liz Claiborne focuses less on its wholesale department-store business and concentrates more on its own physical store presence. This year, the company is geared to open 100 new specialty stores worldwide as well as 35 outlets units. Uniform City Gets New Owner Dress Barn Expands Maurices Charming Shoppes to Open 50 Cacique Stores Bachrach Files Bancruptcy Dick's Sporting Goods Eyes Big Expansion Eddie Bauer Confirms It's Up for Sale
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