REAL ESTATE

Dover Saddlery Retail to open first New York store

BY CSA STAFF

Littleton, Mass. — Dover Saddlery Retail, a wholly owned subsidiary of Dover Saddlery, will open its first New York store, in Huntington (on Long Island), on April 19.

The store, which will evoke the look and feel of a premium equestrian stable, will feature an extensive range of riding apparel, tack and horse care supplies from all the leading brands. The location, as all Dover Saddlery stores, will offer helmet, boot and coat fittings as well as demo saddles for test rides in a wide selection of models.

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REAL ESTATE

Schlotzsky’s in deal for 170 new restaurants in California

BY Marianne Wilson

Austin, Texas — Schlotzsky’s has signed the brand’s largest franchise agreement in more than 40 years, entering into a partnership that calls for more than 170 Schlotzsky’s locations throughout California. The company, which currently has more than 350 locations worldwide, plans to have upwards of 700 locations by 2016.

Each of the new restaurants will feature a new, contemporary design and an upgraded service model in which crew members hand-deliver food to the tables.

"Between this agreement in California and multiple others we’ve signed in the past year alone, the momentum is incredible,” said Kelly Roddy, president of Schlotzsky’s. “On top of the obvious benefits the expansion is having on our brand, it’s also creating job growth in communities around the country," noting that the new locations in Southern California will create nearly 7,000 jobs in the next five years.

Schlotzsky’s is continuing its growth momentum by aggressively targeting markets in Texas and untapped markets around the country for multi-unit developers. These markets include: Atlanta, Charlotte, Denver, Kansas City, Miami, Nashville, Raleigh, St. Louis and Tampa, as well as other underdeveloped markets through the United States.

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Kimco receives subpoena in Wal-Mart probe

BY Marianne Wilson

New York — Shopping center operator Kimco Realty Corp. has received a subpoena in an investigation over possible violations of the Foreign Corrupt Practices Act (FCPA) by Wal-Mart Stores, Reuters reported.

In a filing with the Securities and Exchange Commission (SEC), the Kimco said it had received the subpoena on Jan. 28 from the SEC’s Enforcement Division. Kimco said it would fully cooperate with the SEC, and that the Department of Justice was conducting a "parallel investigation" with the SEC, according to the report.

The FCPA is a law that bars U.S. companies and others from paying bribes to officials of foreign governments in exchange for business.

U.S. authorities have stepped up enforcement of the FCPA in recent years, Reuters said.

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