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Industry News

Storefronts: What the tenants are up to

January 9, 2020

Albertsons
The Boise, Idaho–based supermarket chain reported a 2.7 percent increase in same-store sales for the third quarter. Online and drive-up sales climbed by 34 percent, and the company’s profit margin was 28.3 percent, up from 27.8 percent for the year-ago quarter. The company says it spent about $1.1 billion on capital improvements through the first 40 weeks of its fiscal year, including the remodeling of 153 stores and the opening of 12. BoiseDev

Away
This upscale luggage retailer opened its eighth store, a 3,000-square-foot space at Houston’s Highland Village. Houstonia

Bed Bath & Beyond
Bed Bath & Beyond says it will delay closing 20 of its 1,500 stores. The retailer originally planned to close 60 stores, including 40 Bed Bath & Beyond units, in fiscal 2019 (which ends in March). But now 20 of those closures will be delayed until after the first half of fiscal 2020 to allow for the sale of more merchandise. CNBC

Boscov’s
The department-store chain says it will open a unit in the former Sears anchor store at Eastwood Mall, in Niles, Ohio, this coming October. WKBN27

Dollar General
The discount retailer will open one of its DGX concept stores in downtown Des Moines, Iowa, early this year. Beyond the traditional dollar-store fare, the store stocks grab-and-go meals and fresh fruits and vegetables. WHOTV

Habit Burger Grill
Fast-food conglomerate Yum Brands will buy the 300-unit Habit Burger Grill chain for about $375 million. This deal will give Yum its first fast-casual chain. Restaurant Business

Macy’s
The department-store chain will shut at least 19 stores over the next couple months. USA Today

Pier 1
Home-decor chain Pier 1 reported an 11 percent decline in same-store sales for the third quarter and said it would close 450 of its 942 stores. Bloomberg

REI
Outdoors-gear retailer REI will open its fifth Tennessee store, a 21,500-square-foot unit in the Tower Shops, at the Mountain Mile shopping center, in Pigeon Forge, Tenn. WATE

Roller Rabbit
This whimsical lifestyle brand is under new ownership and recently opened its 13th store, in Charleston, S.C. Future plans include units in Atlanta; Austin, Texas; Charlotte, N.C.; Nashville, Tenn; and London. WWD (subscription required)

Topgolf
Dallas-based Topgolf is considering a $4 billion IPO, having grown from 39 sites two years ago to 60 last month. The openings include a three-level, 65,000-square-foot facility in Cleveland. Topgolf operates three units in the U.K. and one in Australia. Late last year the company announced plans to expand into Canada and Mexico, as well as elsewhere in Europe and Asia. The Dallas Morning News

By Brannon Boswell

Executive Editor/SCT

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