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Shopping Centers Today -> August 2004
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IN BRIEF
ALBERTSONS
Albertsons is exiting Omaha, Neb., selling its 21 drugstores and supermarkets there for an undisclosed amount. Retailers Bag ’n Save, Hy-Vee, No Frills and Walgreen Co. will be buying the units. Albertsons says the move is part of its strategy of leaving markets where it is not the No. 1 or No. 2 chain. Meanwhile, the company is expanding Internet-based grocery deliveries to the Sacramento, Calif., area. The chain offers the service elsewhere in California and in Idaho, Nevada, Oregon, Pennsylvania, Texas and Washington.STATER BROS.
Vornado Realty Trust is paying $65 million for 25 Southern California centers that house Stater Bros. supermarkets. The firm is buying those properties from Newkirk Master, of which it owns 22.3 percent.H&M
H&M is opening its West Coast flagship store in San Francisco’s Union Square shopping area in the fall of 2005. The Swedish apparel retailer has nearly 1,000 stores in 19 countries.BOB EVANS
Restaurant chain Bob Evans Farms is buying SWH, owner of the Mimi’s Café chain, which runs 81 stores on the West Coast, for $182 million. Bob Evans owns 561 restaurants in 21 states.BED BATH & BEYOND
Bed Bath & Beyond plans to open as many as 90 stores in North America by year-end. The chain currently has 592 units in 44 states and Puerto Rico.GOTTSCHALKS
A 100,000-square-foot Gottschalks will anchor River Park Properties’ 1.2 million-square-foot River Park lifestyle center when the project opens in Fresno, Calif., in the spring. The new-format store will have two levels. Gottschalks currently has 63 department stores on the West Coast.BURBERRY
Burberry is opening its first store in Arizona next month, in The Macerich Co.’s Scottsdale (Ariz.) Fashion Square. U.K.-based Burberry operates 60 stores in North America, Asia and Europe.
JAMBA
JUICE
Jamba Juice opened a flagship store in New York City. The juice chain now has three units in the city and plans to have a total of 15 there within two years. The company operates 420 stores in 25 states.
JUST FOR FEET
Holding company Citizens Capital Corp. is offering to buy Footstar’s 88-store Just For Feet chain for an undisclosed price. Last month Footstar sold 350 Footaction stores to Foot Locker for $225 million.DOLLAR GENERAL
Dollar General, the largest discount chain in the United States, opened its 7,000th store, in Clovis, N.M. The chain has units in 29 states.IKEA
Ikea broke ground on a 310,000-square-foot store in Frisco, Texas, its first in that state. The Scandinavian furniture retailer, which operates 190 units in 31 countries (including 18 in the United States), plans to open the store next summer.FOOD LION
Food Lion opened a new concept store in Charlotte, N.C. The store, called “Bloom, A Food Lion Market,” is the first of five the company plans to open this year. The discount food store allows customers to scan items as they shop to keep a running tally of how much they are spending. Food Lion operates about 1,200 units.HARKINS
Harkins Theatres plans to open 10 cinemas totaling 166 screens in Arizona, California, Colorado, Oklahoma and Texas by 2006. That would bring the company’s total screen count to 425.SEARS CANADA
Sears Canada plans to launch two off-mall specialty chains this fall. The first will be called Appliances & Mattresses; the second, a home decor store, will be called Coverings. The company anticipates opening four Appliances & Mattresses units and two Coverings stores by the spring.BLOCKBUSTER
Blockbuster Video bought Rhino Video Games, a chain of 40 stores in the Southeast, for an undisclosed amount. Gainesville, Fla.-based Rhino opened seven units this year.AARON
Aaron Rents bought Easy Way, a rental-purchase chain of 26 stores in Arkansas, Louisiana and Mississippi, for $8.5 million. Aaron Rents operates about 950 units in North America.SONIC
Drive-in restaurant chain Sonic Corp. is buying 22 of its franchises in Colorado. Sonic currently has 497 company-owned units and 2,209 franchises.
CABELA’S
Cabela’s began trading on the New York Stock Exchange in June. The outdoor-goods
retailer is also opening its second East Coast store on Aug. 12 in Wheeling, W.Va.
The 175,000-square-foot store will include a 55,000-gallon aquarium and a 12,000-square-foot
trophy-deer museum. The company, which operates nine stores, plans to open its
first two units in Texas next year.
CHEESEBURGER IN PARADISE
Cheeseburger in Paradise, a five-unit restaurant chain that takes its name from a Jimmy Buffett song, is opening its first unit in Ohio this summer, in Columbus.ISOLD IT
iSold It, a chain of stores where customers can drop off items they want to sell on Internet auction site eBay, plans to have 50 units going by the end of the year. It currently has seven, in California, Michigan, New York and Texas.MARSHALL FIELD’S
Baccarat Crystal opened a 500-square-foot upscale boutique in Marshall Field’s downtown Chicago flagship store. The store already houses several boutiques, including one operated by English shirt maker Thomas Pink. Another Pink store is to open Aug. 6, at the Marshall Field’s in Troy, Mich.Shopping Centers Today
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