REAL ESTATE

American Eagle expanding into Mexico; six stores planned for 2013

BY Marianne Wilson

Pittsburgh — American Eagle Outfitters announced plans to open a series of vertically owned and operated-stores in Mexico, with the first location set to open on February 20, 2013, in Mexico City.

The store will be located in the Perisur’s shopping center, a mall located in the south part of Mexico City. Each AEO store will include an Aerie presence either in shop-in-shop or side-by-side form.

“Mexico presents an exciting market opportunity for AEO, where we have evidence of strong brand acceptance through the positive response to our Mexico-specific e-commerce site, which we launched in fall of 2012 bringing a multi-channel experience to our customers," said CEO Robert Hanson. “We plan to open six company owned stores this year, and to profitably scale the business over the next several years. We view Mexico as an important launch that will drive our longer-term approach to global expansion.”

In 2012, American Eagle Outfitters successfully licensed stores in Japan, Israel and Poland and continues to grow its presence in the Middle East. American Eagle Outfitters is currently present in 13 countries and ships online to 77 countries internationally.

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Target to bring expanded grocery and other new services to Detroit-area stores

BY Marianne Wilson

New York — Target announced that it is expanding ongoing remodeling efforts to its stores in the Detroit area. Along with a much greater emphasis on grocery and fresh foods, the new layout include reinventions in several other departments such as beauty, home, shoes and baby.

Target’s remodeled stores will include approximately 10,000 sq. ft. dedicated to fresh food, including a curated assortment of fresh produce, fresh packaged meat and pre-packaged baked goods, in addition to dry and frozen offerings.

“We’ve heard from our guests that they want more fresh food options in the convenience of their local Target store,” said Annette Miller, SVP grocery, Target. “We’re excited to unveil a new, one-stop shopping experience and believe this significant investment underscores our commitment to the Detroit community.”

Target is also remodeling locations in several other markets across the country including Cleveland, San Antonio and Las Vegas.

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Starbucks targeting drive-thru format for growth in U.S.

BY Marianne Wilson

New York — Starbucks Corp. is expanding its drive-thru format, the chain said in its first-quarter earnings call. According to company officials, more than half of the approximate 1,500 new locations it plans to open in the United States during the next five years will be drive-thrus.

Starbucks plans to remodel about 1,400 U.S. locations in 2013. Roughly 500 of those locations will receive a major overhaul.

“Drive thrus create incremental revenues and profits compared to traditional stores and represent a fast-growing and highly profitable format for Starbucks, comprising just over one-third of our U.S. company-operated stores but contributing nearly 45% of our U.S. retail profit,” Starbucks CEO Howard Schultz said. “We are investing in this high-margin store format with innovations that will elevate the customer experience of our brand by enhancing drive-thru efficiency and consistency of service.”

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