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Sears owner secures $250 million in new capital, but another 96 stores will close
(cnn.com - 11/8/2019)Sears owner Transformco announced Thursday it has obtained $250 million in new capital, money intended to help fuel the company's turnaround after it obtained essentially all of Sears Holding Company's assets during its bankruptcy proceedings earlier this year. But still, the company says it will be forced to shutter another 96 Sears and Kmart stores in 30 states by February 2020, continuing a trend that's been accelerating for months. (full story)
The Changing Face of Shake Shack's Rapid Growth
(qsrmagazine.com - 11/8/2019)It’s not slowing, either. Shake Shack’s 2020 estimates call for 40–42 new domestic corporate stores and 20–25 licensed restaurants, with the openings heavily back-weighted. The goal remains to hit 450 restaurants in time. (full story)
Lands' End's quest to go it alone without Sears hits Michigan
(crainsdetroit.com - 11/8/2019)Lands' End has been phasing out its sites situated inside the struggling Sears chain, halving its number of in-Sears shops since the split about five years ago, Bloomberg reported in 2018. At that time, is expected to add 40-60 locations over the next five years. (full story)
TGI Fridays To Be Acquired In A $380M Deal
(restaurantbusinessonline.com - 11/8/2019)TGI Fridays has agreed to be acquired by blank-check company Allegro Merger for $30 million in cash and stock and the assumption of $350 million in debt. The deal is structured as a merger that will result in Fridays again becoming a public company. (full story)
Bailey Banks & Biddle Files for Bankruptcy
(jckonline.com - 11/7/2019)On Nov. 6, BBB Group, the parent company of Bailey Banks & Biddle—one of the industry’s oldest and most revered names—filed for Chapter 11 in U.S. bankruptcy court in the Southern District of Texas. (full story)
Burlington readies more store openings this month
(hometextilestoday.com - 11/7/2019)This fall has been a period of growth for Burlington as the 736-unit chain approaches its goal to eventually reach a 1,000-store count. Aside from November’s five locations, this season’s additions also include: six new units in five states in August; 25 units in 15 states in September; and 18 units in 15 states in October. Relatedly, Burlington also expects to remodel more than 60% of its existing fleet by yearend. (full story)
Dunkin' Announces Plans for 18 New Restaurants, Including Ten Multi-Brand Locations with ...
(finance.yahoo.com - 11/6/2019)Dunkin', America's all-day, everyday stop for coffee and baked goods, announced today the signing of store development agreements with new franchisee Manchester Enterprises, LLC to develop 18 new restaurants throughout Houston, TX. The group will also be developing ... (full story)
Slater's 50/50 owner buys Marie Callender’s
(nrn.com - 11/6/2019)He said he plans to grow the chain through franchising and corporate stores. Future locations will have a drastically smaller footprint, roughly 2,500 square feet, and will focus on what the brand is known for: pies. (full story)
ExtraMile Opens 900th Location
(cstoredecisions.com - 11/6/2019)ExtraMile Convenience Stores, a joint venture between Chevron U.S.A. Inc. and Jacksons Food Stores, opened its 900th store, located in Carlsbad, Calif., as it continues to expand across more of the western U.S., with plans to double the number of ExtraMile sites nationwide by 2027. (full story)
Here's how Red Robin snapped a 6-quarter streak of negative growth
(nrn.com - 11/6/2019)The six closures in Canada are part of a reassessment of Red Robin's real estate portfolio, a strategic priority previously announced before Murphy arrived. After the five Alberta closures on Dec. 8, the 12 in British Columbia will be the only Red Robin restaurants left in Canada. (full story)
Potbelly to close more stores than it opens this year
(nrn.com - 11/5/2019)Potbelly isn’t focused on unit growth this year. The Chicago-based sandwich brand expects to close 15 to 22 stores — and open only eight to 13 locations. (full story)
Tuesday Morning Corporation announces First Quarter Fiscal 2020 Results
(finance.yahoo.com - 11/5/2019)The Company plans to open approximately three new stores, relocate five stores, and close 25 to 35 stores in fiscal 2020... (full story)
U.S. Veteran leads a surge of 15 iCRYO Locations to Open in Arizona
(franchising.com - 11/5/2019)This has been the largest deal in iCRYO company history with the amount of locations sold at one time totaling 15. The first of these locations is due to open in Summer 2020 and will be the Flagship location for all of Greg’s Arizona locations. (full story)
Eggs Up Grill Announces Todd Owen as VP of Franchise Development
(franchising.com - 11/5/2019)WJ Partners acquired Eggs Up Grill, building the team and priming the brand to rapidly grow in more communities across the US with plans underway to reach the 100-location mark by ... (full story)
Eagle Merchant Partners Sells Chicken Salad Chick to Brentwood Associates
(businesswire.com - 11/4/2019)“We are very excited to partner with Brentwood on the next chapter for Chicken Salad Chick,” Deviney said. “Brentwood’s long track record of working with leading restaurant companies coupled with their understanding of our business objectives and strategy make them the perfect partner for us to continue executing on our robust growth and expansion plan.” (full story)
Club Pilates coming to Melville, Miller Place, Lake Grove
(newsday.com - 11/4/2019)Founded in 2007, Club Pilates is a boutique fitness studio chain that is experiencing fast growth nationwide. Of the 600 locations in the country, 155 have opened this year, Yarmey said. About 60 more will open by Dec. 31. (full story)
Slim Chickens planning to open 100th restaurant in December
(thenewsfunnel.com - 11/3/2019)Fayetteville-based chicken restaurant chain Slim Chickens expects to open its 100th restaurant in December and has 350 locations under development. (full story)
Riley Rose Is Closing Its Stores and Website, But This Isn't the End of Beauty Boutique
(allure.com - 11/2/2019)A month after Forever 21 filed for bankruptcy and announced it would be closing 178 of its more than 500 U.S. stores, it appears its beloved beauty offshoot, Riley Rose, will also be shutting shops — all of them. (full story)
High winds, trade winds and more takeaways from Havertys’ Q3 call
(furnituretoday.com - 11/1/2019)In the second half of next year, Havertys expects to net two to three new stores in markets it already covered by its distribution footprint, Smith said, although he declined to disclose the locations just yet. (full story)
Olympia Sports Selects Agent To Conduct Closing Sale For 76 Stores
(sgbonline.com - 11/1/2019)Olympia Sports, the Maine based athletic footwear and apparel chain, has selected SB360 Capital Partners LLC, as their exclusive agent to conduct “Store Closing” sales in 76 stores. Olympia, which was recently acquired by sports retailer JackRabbit, will continue to operate its remaining 75 stores under the Olympia Sports’ banner.
(full story)
Escada acquired by private equity firm
(fashionunited.com - 11/1/2019)German-based womenswear brand Escada has been sold to global private equity firm Regent. The Mittal Family, which bought the Munich-based luxury label in 2009, confirmed that it has sold the business to Regent for an undisclosed sum. (full story)
Barneys New York Sold to Authentic Brands Group, Which Will Close Stores
(jckonline.com - 11/1/2019)Iconic retailer Barneys New York, which filed for bankruptcy in August, has been sold to a conglomerate that plans to close all or most of its stores.
(full story)
Forever 21 Plans to Close About 60 Fewer Stores After Rent Cuts
(nreionline.com - 11/1/2019)Forever 21 Inc. will keep open more than 60 U.S. stores previously set to shutter as part of the company’s bankruptcy restructuring after the retailer secured rent concessions from its biggest landlords, according to people with knowledge of the situation. (full story)
Popular Restaurant Expanding To 3 DC, Arlington Locations: Report
(patch.com - 11/1/2019)Lebanese Taverna has been a big success story in the foodie world of the greater D.C. area, and now the restaurant is expanding its fast-casual version of the restaurant to three new locations: two in Arlington and one in D.C. (full story)
The Lost Cajun Named One of “The Top 50 Emerging Restaurant Chains”
(franchising.com - 11/1/2019)Founded in 2010 and franchising since 2013, The Lost Cajun currently has 24 restaurants operating in six states, at least seven of which have opened in the last 12 months alone. In addition, the Louisiana-based franchise has 10 additional locations in various stages of development in additional states of Mississippi, Florida, and California along with interest in other parts of the country. (full story)
I Heart Mac & Cheese Signs Three-Store Colorado Development With Full Circle Restaurant Group
(franchising.com - 11/1/2019)I Heart Mac & Cheese, today announced a three-store development agreement with Full Circle Restaurant Group to bring the concept to Colorado. The first two locations will open next year, with the final debuting in 2021, introducing the brand to Boulder, Stapleton and Downtown Denver.
(full story)
Launch Entertainment and Action Park to Open in Framingham
(franchising.com - 11/1/2019)Debin is signed on for four more parks, eyeing Woburn, Worcester, Weymouth and Saugus as future potential areas. Woburn is set to open in early 2020 with the rest to follow. The local expansion plans come at a time when Launch continues to rapidly expand its national footprint. (full story)
Krystal to refranchise majority of company-owned stores
(nrn.com - 10/31/2019)"We've seen great success with the new restaurant prototype, remodels and operational upgrades,” Macaluso said. “It's time to accelerate the redevelopment of the fleet and expand our footprint through strategic refranchising." (full story)
Workout Anytime Appoints Terri Harof New Director of Franchise Development
(franchising.com - 10/31/2019)“We’re going strong in the southeastern U.S., but I want people outside of that region to know that we’re absolutely interested in opening outside those markets if it makes sense for the brand,” Harof continued. Workout Anytime is currently looking for franchisees in target markets including Florida, southern Georgia, Louisiana, Arkansas, Missouri, Kansas and ... (full story)
Habit Restaurants Q3 2019 Earnings Call Transcript
(fool.com - 10/31/2019)During the third quarter, we opened six new company-operated restaurants, including four drive-thru locations... (full story)
HomeGoods adding new stores across eight states
(hometextilestoday.com - 10/31/2019)HomeGoods is opening nine new stores and reopening an updated existing unit across eight states in November – just in time for the holiday selling season.
(full story)
Cheesecake expects to amp unit growth with Fox acquisition
(nrn.com - 10/30/2019)“Looking ahead to 2020, we expect our unit growth to meaningfully accelerate with the opening of as many as 20 new restaurants, including as many as six Cheesecake Factory locations, six North Italia restaurants and eight restaurants within the FRC subsidiary, which includes as many as five Flower Child location, said David Overton, Cheesecake Factory CEO and chairman. (full story)
IHOP bets big on road-trippers with 94-unit fuel hub expansion deal
(nrn.com - 10/30/2019)The Glendale, Calif.-based family-dining chain, a division of Dine Brands Global Inc., said TravelCenters of America Inc. will open 94 restaurants over the next five years at the company’s ... (full story)
Murphy USA touches yearly high as profits jump 54% from a year ago
(talkbusiness.ne - 10/30/2019)During the third quarter, the El Dorado convenience store chain opened five new retail locations, bringing the store count to 1,479... (full story)
Portland coffee chain set to open Houston stores
(houstonchronicle.com - 10/30/2019)Black Rock Coffee Bar, a Portland-based coffee retailer, will enter the Houston market with two locations in early 2020... (full story)
Sprouts Farmers Market reports 8% sales increase in third quarter and year so far
(newhope.com - 10/30/2019)While same-store sales rose 1.5%, the company also opened nine new stores during the 13-week period that ended Sept. 29... (full story)
Starbucks Reports Q4 and Full Year Fiscal 2019 Results
(stories.starbucks.com - 10/30/2019)The company opened 630 net new stores in Q4, yielding 31,256 stores at the end of the quarter, a 7% increase over the prior year... (full story)
Happy Socks opens Herald Square store
(fashionunited.com - 10/30/2019)This new store opening comes on the heels of two store openings earlier this year, one in Los Angeles and the opening of the brand's first-ever creative hub in Sliverlake. Later this year, Happy Socks will also be opening a fifth New York City location. (full story)
Jersey Mike's Operators Adding 3 More Locations in Birmingham Area
(franchising.com - 10/30/2019)Angelo and Kimberly Crowell are a married couple and multi-unit operators passionate about growing their portfolio of Jersey Mike's Subs. They operate 29 locations in Florida, Alabama, and Georgia and have just signed on to reopen three locations in the Birmingham area. (full story)
Texas Roadhouse Set To Expand Little-Known Fast-Casual Brand
(restaurantbusinessonline.com - 10/29/2019)Texas Roadhouse plans to open two branches next year of its little-known third restaurant concept, a fast-casual sandwich specialist called Jaggers. The company plans to open eight Bubba’s units next year, compared with 22 Roadhouses. (full story)
Nicholas Markets to Join Wakefern in Co-Op Shake-Up
(winsightgrocerybusiness.com - 10/29/2019)Woodland Park, N.J.-based Nicholas Markets operates stores in North Haledon, Cedar Grove, Colonia and Washington Township, N.J., under the Foodtown banner. Upon their conversion, those stores will be rebranded as The Fresh Grocer, a Wakefern trademarked banner.
(full story)
Ashley HomeStore Celebrates 1,000th Store Opening
(homeworldbusiness.com - 10/29/2019)Ashley HomeStore has celebrated a milestone with the grand opening and ribbon cutting of its 1,000th store on Saturday, October 26. The new store has a 22,000-square-foot showroom located at 26955 Dickerson Road in Millsboro, DE. (full story)
Coolgreens Celebrates 10-Year Anniversary with Plans for Rapid Expansion
(restaurantnews.com - 10/29/2019)Coolgreens just turned 10 and is looking towards its future as an innovative healthy lifestyle eatery. The company has a goal of opening a total of 150 corporate and franchise locations within the next five years. (full story)
Walgreens To Open More ‘Small Stores’ In Big U.S. Cities
(forbes.com - 10/29/2019)Walgreens Boots Alliance is developing more than 30 “small store” pharmacies largely in urban areas that the chain says will have a health and wellness focus in the location’s front end. (full story)
Huey Magoo’s Chicken Tenders Announce Expansion To Mississippi
(restaurantnews.com - 10/29/2019)Huey Magoo’s, the fast-growing, fresh and tasty chicken tenders brand, continues to make an even larger footprint across the Southeast with 20 new stores opening in Mississippi ... (full story)
Gloria Jean’s Coffees to Grow North Carolina Presence
(restaurantnews.com - 10/29/2019)Gloria Jean’s Coffees – U.S.A., an innovator in the specialty coffee segment celebrating its 40th anniversary this year, has signed a multi-unit development agreement with new franchise partner, Kishor Kaneria and his nephew, Parth. The agreement will bring at least five new Gloria Jean’s Coffees locations to the Raleigh, North Carolina region, beginning with ... (full story)
Old Chicago Pizza & Taproom Opens First Utah Location
(saporemagazine.com - 10/28/2019)“It’s an exciting time to be a part of the Old Chicago family; we are thrilled to bring the Craft Beer Authority to Logan and the state of Utah,” says Thad Willis, co-owner of WD Ventures, LLC, a franchisee group that has plans to open additional Old Chicago locations in Utah and southern Idaho. (full story)
MedMen Reports Fourth Quarter and Fiscal Year 2019 Financial Results
(seekingalpha.com - 10/28/2019)The Company was also recently awarded a commercial retail license in Pasadena, California. MedMen expects to have a total of 30 operating retail locations in California by the end of calendar year 2020.
(full story)
The Coffee Bean & Tea Leaf Continues To Grow With Three New Store Openings
(prnewswire.com - 10/28/2019)The Coffee Bean & Tea Leaf®, one of the world's leading roasters and retailers of specialty coffee and tea, announced that it is opening three new locations over the next several months... (full story)
Parker’s Kitchen Opens In Goose Creek and Summerville, South Carolina
(theshelbyreport.com - 10/28/2019)The newest Parker’s Kitchen locations are part of a strategic $50 million expansion into the metro Charleston market over the next year. The company plans to open 40 new-to-industry locations in the greater Charleston area over the next four years and to secure 30 percent market share.
(full story)
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