Flip Flop Shops to open 20 Caribbean franchise stores
Atlanta – Flip Flop Shops has signed a master franchise agreement with Happy Toes Caribbean that calls for the establishment and development of at least 20 new shops throughout the islands, the first of which will open in Aruba in late 2014. The master franchise rights agreement also covers the management of three established stores in St. Thomas, St. Maarten and Curacao.
This new deal pushes Flip Flop Shops 2014 international expansion plans to nearly 100 new stores, and follows on the heels of similar development deals in both the Middle East and South Africa. Flip Flop Shops operates nearly 100 locations globally, and has nearly 200 stores in the development pipeline. The company is seeking franchise partners for further development in several new international markets, including Latin America, Mexico, Australia and New Zealand, and parts of Asia including Malaysia, Singapore, South Korea and Vietnam.
"The key to successful international expansion is finding the right partner," said Brian Curin, president and co-founder of Flip Flop Shops. "The credibility of our international partners coupled with the credibility of the Flip Flop Shops concept is allowing explosive growth for us around the globe."
Bob Evans Farms names three independent directors
New Albany, Ohio – Bob Evans Farms Inc. has appointed Kevin M. Sheehan, president and CEO of Norwegian Cruise Line, Kathy S. Lane, former CIO of TJX Companies Inc., and Larry S. McWilliams, co-CEO of Compass Marketing, to its board of directors. E. Gordon Gee, 70, is stepping down from the board effective immediately, following his acceptance in March of the permanent position of president of the West Virginia University.
In addition, Larry C. Corbin, 72, and G. Robert Lucas, 70, will be retiring from the board at the end of their terms in connection with the 2014 annual meeting and will not be standing for reelection.
GameStop to close 120-130 stores; open 300-400 tech stores under new banners
Grapevine, Texas — GameStop Corp. will close 120-130 of its 6,457 stores worldwide in 2014 and add 300 to 400 new tech stores under three different banners: Spring Mobile, Cricket and Simply Mac. The closures and openings are part of the company’s new “GameStop3.0” repositioning. The new strategy emphasizes mobile-gaming.
“The opportunities that have presented themselves we see as unique,” said GameStop CEO Paul Raines during an investor meeting last week.
In the current fiscal year, GameStop expects to open between 200 and 250 Spring Mobile stores. Simply Mac will see another 20-25 stores added in markets underserved by Apple’s own retail chain. GameStop is expecting to add another 100 to 150 Cricket locations to the 31 it was running at the end of its last fiscal year.
Apple and AT&T will contribute to the cost of opening the new stores. GameStop thinks each of its three new technology brands can individually become a $1 billion business.