GNC to open 40th Manhattan location at 1755 Broadway
New York City Robert K. Futterman & Associates announced it has secured a 1,050-sq.-ft. space for General Nutrition Center at 1755 Broadway, between 56th and 57th Streets in Midtown Manhattan.
This will be GNC’s 40th location in Manhattan and will open in first quarter 2011.
Denny’s to open fast-casual format
New York City Denny’s Corp. will debut its new fast-casual concept, Denny’s Cafe, on Nov. 3, in Orange, Calif.
The 3,000-sq.-ft. format is designed to offer a smaller version of the traditional Denny’s experience, with a more streamlined menu, counter service ordering, and a smaller real estate footprint that allows for easier entrance into urban markets.
“Denny’s Cafe was designed as a real estate solution to fit locations where we otherwise can’t get to with our traditional brand,” said David Demers, director of development projects and services for Denny’s Corp., Spartanburg, S.C., in a report on NRN.com. “After doing some real-estate analysis, we found there were up to 700 locations — in densely suburban and urban locations that we could get into with this fast-casual concept.”
Ann Taylor to expand outlet-store footprint
New York City Ann Taylor Stores plans to significantly expand its factory outlet footprint in 2011, approximately 35 Loft Outlet Stores and five Ann Taylor Factory Stores. To accelerate expansion, the retailer is taking advantage of locations at leading factory outlet centers across the United States formerly occupied by Liz Claiborne.
The 40 new outlet stores, expected to open in second quarter 2011, will generate incremental fiscal 2011 revenue of approximately $75 million and to be accretive to its fiscal 2011 earnings per share. Capital expenditures associated with the openings are expected to be approximately $25 million in fiscal 2011.
Kay Krill, Ann Taylor’s president and CEO, stated, “As we have previously noted, we had identified our highly productive factory outlet channel as an area for future growth, particularly for our Loft brand. This extraordinary opportunity to open premium store locations significantly and efficiently accelerates our planned expansion and represents meaningful growth for our very successful Loft Outlet business.”