Meijer plans smaller-format Chicagoland store
Chicago A Friday report by Crain’s said that grocery chain Meijer is opening a new store in 2011 in west suburban Melrose Park that will be the retailer’s third smaller, grocery-focused outlet in the Chicago area.
The Grand Rapids, Mich.-based grocer has leased a vacant grocery store in the Winston Plaza, according to the report. The space, formerly a Cub Foods, will be expanded for Meijer as part of an $8.5 million renovation planned for the 375,000-sq.-ft. shopping center.
The Meijer store will be 90,000 sq. ft., less than half the size of its traditional superstores, and will feature full-service grocery and pharmacy offerings and a pared-back assortment of general merchandise.
Meijer said it hopes to open by June 2011, with construction launching this fall.
Real estate sources say Meijer is looking at several other sites for its smaller stores.
Toys’R’Us expands Express initiative for 2010 holiday season
WAYNE, N.J. Following the successful pilot program of its pop-up stores last year, Toys“R”Us announced Thursday the expansion of its Toys“R”Us Express stores, with plans to operate 600 locations in malls and shopping centers nationwide during the 2010 holiday season.
The major expansion of the Toys“R”Us Express initiative will double the number of Toys“R”Us locations available for holiday shopping needs, the company said. Last year, the company operated its first pop-up stores with nearly 90 Toys“R”Us Express locations across the country, many of which have remained open through 2010. This year, Toys“R”Us will open more than six times the amount of these approximately 4,000-sq.-ft. locations.
“By doubling the number of Toys“R”Us locations nationwide, now more than ever we will be available when and where customers want to shop with us this holiday season,” said Jerry Storch, chairman and CEO, Toys“R”Us. “We are pleased that this significant expansion of our Toys“R”Us Express initiative also creates thousands of new jobs beyond our usual seasonal workforce build.”
Target declares quarterly dividend
MINNEAPOLIS Target’s board of directors declared a quarterly dividend of 25 cents per share, payable Dec. 10 to shareholders of record Nov. 20.
The fourth quarter dividend will be the company’s 172nd consecutive dividend paid since October 1967 when the company became publicly held.