dd’s Discounts to open first New Jersey store
Dublin, Calif. — dd’s Discounts, a division of Ross Stores, will open its first store in New Jersey, in the town of Ewing, on June 28.
Including this new location, dd’s Discounts will operate approximately 140 locations in 11 states. The company is on schedule to complete its expansion plan to open approximately 20 locations in 2014.
Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
Report: Coach to close 70 stores
New York — Coach plans to shutter about 70 underperforming stores in fiscal 2015, Crain’s New York reported. The retailer, which has been under heavy competitive pressure from Michael Kors and other upscale companies, also gave a disappointing revenue forecast for its current fiscal year.
Coach CEO Victor Luis told investors and analysts Thursday that the company is at a crossroads and will undertake a number of major initiatives during the next 12 to 18 months, including reducing promotional levels, introducing new advertising, shuttering stores and changing its product offerings, the report said.
Sleepy’s leases DeKalb, Ill., store
Chicago — Mattress retailer Sleepy’s has leased a 7,017-sq.-ft. store in DeKalb, Ill., from Arthur Goldner & Associates. The new location is part of the company’s expansion in Illinois.
CBRE represented Arthur Goldner & Associates in the transaction. Mid-America represented the tenant.