Foot Locker increases capital expenditures for 2013
New York — Foot Locker announced that its board of directors has approved a $220 million capital expenditure program for 2013. The amount marks a significant increase over the approximately $163 million spent on in 2012.
The company said it plans to invest in such growth initiatives as including new and innovative store formats; continued expansion in Europe; technology to improve its customers’ experience; and robust capabilities for its digital segment.
Corner Bakery targets Boston for expansion
Dallas — Corner Bakery Café said Wednesday it plans to open 18 restaurants in the Boston area, joining under-development markets in neighboring Connecticut, Rhode Island, New York, New Jersey and Pennsylvania.
The bakery-café concept is targeting its growth through franchising deals with restaurant pros capable of opening multiple units. Corner Bakery has set a goal of doubling its current U.S. footprint of 147 locations by the end of 2015.
Ikea’s Miami-Dade store on track for summer 2014 opening
Conshohocken, Pa. — Ikea said Wednesday that contractors have been hired and a building permit is pending for its future Miami-Dade store in Sweetwater, Fla., putting the home furnishings retailer on track for a groundbreaking in 60 days and a summer 2014 opening date.
Ikea selected Balfour Beatty Construction to oversee the project. Other Florida firms involved include Kimley-Horn and Associates for civil engineering; ATC Associates for geotechnical services; GFA International for testing and inspection services; Holland & Knight for local land use counsel; The Goldstein Environmental Law Firm for Brownfield expertise; real estate brokerage The Shopping Center Group for site selection support; and Procacci Development Corp. for selling the land. Atlanta-based GreenbergFarrow is the project architect.
The 417,000-sq.-ft. future Ikea Miami will feature 1,500 parking spaces, and the company said it will evaluate solar generation potential for this store to complement the presence of renewable energy generation at nearly 90% of its current U.S. locations.