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Shopping Centers Today -> March 2004
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RETAIL ROUNDUP
BEST BUY
Best Buy plans to open 73 stores in the United States and Canada this year, most of them in power centers. The company operates nearly 700 stores.FACTORY 2-U STORES
In February Factory 2-U Stores planned to close 44 units in nine states, pending bankruptcy court approval. Those were in addition to the four the off-price merchandise retailer had already decided to shut before filing for Chapter 11 in January. If all those stores close, Factory 2-U will be left with 195 units.EDDIE BAUER
Eddie Bauer parent The Spiegel Group is closing an additional 29 Eddie Bauer shops, bringing to 60 the number it has shut since filing for Chapter 11 last March. These latest closings are in California, Connecticut, Georgia, Illinois, Maryland, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, South Carolina, Texas, Utah, Washington and Wisconsin.WAL-MART
Wal-Mart sued Alameda (Calif.) County for adopting an ordinance blocking Supercenters. The measure, similar to others passed elsewhere, prohibits retailers with stores bigger than 100,000 square feet from devoting more than 10 percent of sales to nontaxable merchandise such as groceries.KINKO’S
FedEx is buying the 1,200-unit business services chain Kinko’s for $2.4 billion. At press time, the companies expected to close the deal by the end of the first quarter.
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H&M
H&M is opening its first stores in Canada, all five of them in the Toronto area. The chain currently has 950 units, with 66 in the United States and the rest in Europe.TJX COS.
The TJX Cos. closed on its acquisition of the 31-store, East Coast value chain Bob’s Stores for $59 million. TJX also owns the Marshalls, T.J. Maxx and T.K. Maxx chains.BOISE CASCADE
Office supplies distributor Boise Cascade, which bought the 976-unit OfficeMax chain last month, said it will close as many as 45 stores and remodel an additional 250 this year.DOMINICK’S
Safeway-owned grocery chain Dominick’s is closing 12 Chicago-area units on March 13. The chain currently has 60 stores.NORDSTROM, NEIMAN MARCUS
Nordstrom is opening a store in a former Lord & Taylor space at Simon Property Group’s Phipps Plaza, Atlanta. Nordstrom expects to open the 150,000-square-foot store in the spring of 2005. Meanwhile, Neiman Marcus plans to open a 130,000-square-foot unit in Simon’s Town Center at Boca Raton (Fla.), in the fall of 2005. That store, too, replaces a Lord & Taylor.FEDERATED DEPARTMENT STORES
Federated Department Stores will close a total of seven underperforming Lazarus-Macy’s and Rich’s-Macy’s units in Alabama, Georgia, Ohio and Pennsylvania by August. The company currently has 460 stores in 30 states.MAY DEPARTMENT STORES
The May Department Stores Co. closed on its acquisition of the Gingiss Formalwear and Gary’s Tux Shop chains. The stores are now part of the company’s rapidly growing bridal group, which operates David’s Bridal and other chains.PANDA EXPRESS
Chinese-food chain Panda Express plans to open 160 restaurants this year. It currently has 600 nationwide.WIRELESS ZONE
Wireless Zone has opened its 200th store and plans to open an additional 250 in the United States this year.
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DUANE READE
New York City’s biggest drugstore chain, the 239-store Duane Reade, is being acquired by Oak Hill Capital Partners in a $700 million deal the companies expect to close during the second quarter.CHEESECAKE FACTORY
The Cheesecake Factory opened its first Alabama restaurant, in Bayer Properties’ The Summit Birmingham. The chain now has 74 restaurants nationwide.KRISPY KREME
Krispy Kreme opened its first Hawaiian store, in Kahului. At press time the company had 350 units in 42 U.S. states, Australia, Canada and Mexico.TIFFANY & CO.
Tiffany & Co. will makes its debut in Minnesota this summer, with a store in Gabbert & Beck’s Galleria lifestyle center in Edina, about 10 miles southwest of Minneapolis. Tiffany has more than 100 units worldwide.IKEA
Ikea will open its first store in the Dallas area, a 310,000-square-foot unit in Frisco, Texas. The retailer already has a store in Houston and 18 more in other U.S. states, as well as 172 stores elsewhere around the globe.J.C. PENNEY
J.C. Penney will anchor The Richard E. Jacobs Group’s Gulf Coast Town Center, Lee County, Fla., when it opens in the fall of 2005.KAUFMANN’S
Kaufmann’s plans to renovate its downtown Pittsburgh department store at a cost of $10 million. The company will renovate the store’s exterior and make other improvements.STARBUCKS
Starbucks has opened its first French café, in Paris.The coffee chain has 7,500 units worldwide.BAJA FRESH MEXICAN GRILL
Fast-casual restaurant brand Baja Fresh Mexican Grill opened its first Austin, Texas, restaurant. It now has 285 nationwide.PAPA JOHN’S
Pizza chain Papa John’s opened its first Russian store, in Moscow. As of the beginning of this year, the company operated 2,790 restaurants in the United States and 14 other countries.FAMOUS FAMIGLIA
An arm of shopping center owner Debartolo Property Group has formed a partnership with the Famous Famiglia pizza chain to expand the restaurants across the country. The chain currently operates 25 units in six states, mostly on the East Coast.FUDDRUCKERS
Hamburger chain Fuddruckers has acquired the 18-store, Southern California-based chicken restaurant chain Koo Koo Roo for an undisclosed amount, bringing its total number of units to 247.SEARS, ROEBUCK AND CO.
Sears, Roebuck and Co. is building a 180,000-square-foot, stand-alone Sears Grand store at Foothill Crossing, a power center in Rancho Cucamonga, Calif., that is owned by O&S Holdings. The unit, set to open in the fall, will be one of five Sears Grand pilot stores.7-ELEVEN
Convenience store chain 7-Eleven plans to open its first stores in Beijing this spring. Eventually, the chain aims to have 500 units in the Chinese capital, Reuters reported. It has 20,000 units around the world.WALGREENS
Walgreens has started a weekly television series on cable channel Superstation WGN that addresses health issues.Shopping Centers Today
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