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Industry News

Storefronts: What the tenants are up to

February 13, 2020

The week's 10 biggest retailer headlines:

Forever 21
Court filings show that after failing to find a buyer, the teen apparel chain is preparing to sell itself to landlords Brookfield and Simon and licensing firm Authentic Brands, for $81 million. The Wall Street Journal (tiered subscription model)

Nordstrom
The Seattle retailer is taking thrift shopping to another level. The upscale retailer launched See You Tomorrow, which combines an online apparel resale site and an in-store boutique in the company’s New York flagship store. The service sells brand-name merchandise that originally was purchased through Nordstrom’s full-price channels and then was returned and/or damaged. Nordstrom also excepts trade-ins from customers. Design:Retail

Saks Off 5th
Hudson’s Bay Co. is putting more emphasis on its off-price operations by appointing former Nordstrom Inc. executive Paige Thomas as president of Saks Off 5th. Thomas’ predecessor, Marc Metrick, served as president of Saks Fifth Avenue and president of Saks Off 5th. The Business of Fashion

7-Eleven
The convenience store chain is testing a 700-square-foot, cashierless, checkout-free concept at its corporate headquarters in Irving, Texas. Supermarket News

Bed Bath & Beyond
The home goods retailer said slow holiday traffic hurt drove its same-store sales down 5.4 percent during December and January. CNBC

Under Armour
The sportswear brand hopes to raise its international profile with a New York City flagship. It expects to spend as much as $225 million on the project. Fox Business 

Earth Fare
The natural foods grocer, which filed for Chapter 11 bankruptcy protection, has retained A&G Real Estate Partners to market and sell all its stores and leases. Earth The stores range from 17,000 to 38,000 square feet, but most are around 25,000. Supermarket News

Guzman y Gomez Mexican Kitchen
The Australia-based Mexican fast-casual concept opened its first U.S. outpost, a freestanding unit in Naperville, Ill. Nation’s Restaurant News

Mavis Tire Supply
The independent tire dealer is buying 112 NTB Tire & Service Centers across Atlanta, Boston, Chicago and Philadelphia from TBC Corp. The deal makes Mavis the second-largest such retailer in the country, with 810 outlets. Modern Tire Dealer

Smoker Friendly
Boulder, Colo.-based The Cigarette Store Corp. continues to consolidate. The company recently acquired 22 Tobacco Road Outlet stores in North Carolina. In late 2019, the retailer purchased Smoker’s Outlet, a 33-store store chain. CSP

By Brannon Boswell

Executive Editor/SCT

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