INDUSTRY NEWS
NEWS, NOTES & TRENDS...
AroundtheIndustry RETAIL Burlington Stores Burlington Stores plans to open another 1,000 stores over the long run, more than doubling its current tally. Toys R Us Brand management firm WHP Global has bought a controlling stake in Tru Kids, the parent of Toys R Us, with plans to open branded US stores likely in time for the holiday shopping season. Tru Kids acquired Toys R Us and its related brands in 2017 after the retailer filed for Chapter 11 bankruptcy protection. Dick’s Sporting Goods Dick’s Sporting Goods plans to unveil a new 100,000-square-foot store prototype, Dick’s Sporting Goods House of Sport, in Rochester, New York. Target Stores Target is reportedly one of a list of companies considering a move into the soon-to-be-vacant Macy’s department store on Chicago’s iconic Magnificent Mile, a district traditionally known for high-end retailers and brands. Macy’s plans to vacate its 323,812 square feet that span all eight floors and the mezzanine level of Water Tower Place, which has lost other shops during the pandemic. Dollar Tree Co-branded Dollar Tree and Family Dollar stores could grow to several hundred locations in the coming years, as the sister companies look to build on pandemic-fueled momentum to achieve better results in rural communities. Dollar General Dollar General will open a 6,000-square-foot urban concept store in downtown Minneapolis next year. The DGX Minneapolis location will feature the retailer’s more upscale format, with grab-and-go food selections, pet products, groceries and toiletries. Payless Payless has opened a store in North Miami, Florida that will feature augmented reality, interactive touchscreens and other features. In August, the brand indicated it could open hundreds of stores in the next five years.
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COMMERCIAL CONSTRUCTION & RENOVATION — ISSUE 3, 2021
Fanatics Sports apparel retailer Fanatics has raised $320 million in a new funding round that it will use to further its international growth efforts, grow vertical commerce and explore new acquisition opportunities. The company launched Fanatics China in February, a division the company predicts will grow to be worth more than $1 billion.
RESTAURANT Famous Dave’s A Famous Dave’s franchisee in Minnesota will open the chain’s first fast-casual Quick ‘Que barbecue concept this fall. The casual dining chain’s new format will feature a drive-thru, and be more affordable and potentially more profitable for franchisees. Red Robin Gourmet Burgers Red Robin Gourmet Burgers is planning a bigger rollout of Donato’s pizza, which is expected to generate $60 million in annual sales, and will keep in place the streamlined menu adopted in response to the pandemic. The Twelve Thirty Club Veteran restaurateur Sam Fox is set to unveil the first phase of The Twelve Thirty Club, a 30,000-square-foot Nashville project funded by investors, including Justin Timberlake. The three-story space will include two lounges set to open in April and an upscale 400-seat eatery likely to debut in August. Cava Mediterranean chain Cava is poised to grow its presence in suburban markets with a real estate portfolio acquired with the purchase of Zoe’s Kitchen in 2018. The pandemic led many people to relocate from cities to less-populated areas, and Cava converted seven Zoe’s locations to Cava units last year and expects to do 12 more in 2021. Foxtrot Market Foxtrot Market, a fast-growing chain of upscale, delivery-focused corner stores and cafés with eight locations in Chicago and Dallas, is expanding to the East Coast with the opening of two stores in Washington, DC.
