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Industry News

Storefronts: What the tenants are up to

December 5, 2019

A.C. Moore
Arts-and-crafts chain A.C. Moore will close its 145 stores, parent company Nicole Crafts has said. The Michaels Cos. will take over leases at as many as 40 of the stores. The Post and Courier

Dollar General
The discount chain says it plans to open about 1,000 stores in 2020, just as it has for the past several years. Dollar General currently operates roughly 16,000 stores. The company plans to enter new cities and towns with smaller stores and to boost its portfolio in areas where it has already established a presence. CNN

HEB
This supermarket chain will spend about $200 million to build three new stores in Austin and to renovate another. KXAN

NSF
Los Angeles–based fashion label NSF made a deal with landlord CIM Group to open a 3,000-square-foot pop-up on North Sycamore Boulevard, in Hollywood, Calif., with the option to stay open on a month-to-month basis. This is the brand’s first physical store. WWD (subscription required)

Orangetheory
The boutique fitness chain cut an agreement with Midwest supermarket chain Hy-Vee to open gyms adjacent to existing Hy-Vee stores. So far, two such food-fitness locations have opened near Hy-Vee stores, and the companies say they plan to open about 50 more Orangetheory units near Hy-Vee stores. “We know many of our customers are looking to live healthier lifestyles while also having more convenience, so they can spend time on the things they truly enjoy,” said Tina Potthoff, Hy-Vee's vice president of communications. “We’re getting a lot of feedback from customers who appreciate that they can now meet their health-and-wellness needs in one stop, versus [making] multiple stops to a grocery store, health store and gym.” Well and Good

Pier 1 Imports
The chain is saying farewell to Hawaii. As part of its plans to focus on more-profitable regions, the company says it will close its remaining seven stores in that state. Star Advertiser

RH
RH (formerly Restoration Hardware) says it seeks to open six stores in 2020 and to boost its openings to about six annually, moving forward. The company now operates 70 full-price stores and 40 outlet units. Investors Business Daily

Target
Target agreed to lease a small-format store in the heart of New York City’s Times Square, which will bring its total store count in the metro area to 10. This 33,000-square-foot store is to open in 2022. CNBC

Toys R Us
The company’s 6,000-square-foot store at Garden State Plaza, in Paramus, N.J., subleases space to individual brands so that they can promote and sell their own products. Gizmodo

Versace
Italian luxury label Versace says it will open its first Arizona store this coming year, a 3,100-square-foot space at Macerich’s Scottsdale Fashion Square. WWD (subscription required)

By Brannon Boswell

Executive Editor, Commerce + Communities Today

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