Myrtle Beach power center expansion is underway
An official from the town of North Myrtle Beach in South Carolina is looking forward to more jobs and tourist income from the expansion of a shopping center in the beach resort area.
RealtyLink, a developer of power centers in the Southeast and Midwest, is about halfway done with its phase three expansion of the Coastal North Town Center & Village Shoppes on Highway 17. The 147,000-sq.-ft. addition will take the center size beyond 540,000 sq. ft.
“The types of stores that are there draw not only from North Myrtle Beach year round, but Brunswick County. It has stores that Myrtle Beach doesn’t have, so it tends to draw from Myrtle Beach as well,” town spokesperson Pat Dowling told WBTW News 13.
Tenants at the center include Publix, Ross Dress for Less, Dick’s Sporting Goods, Hobby Lobby, and Ulta.
Dowling said town administrators were excited about resultant job growth, as well.
“They’re year-round jobs. We need more of those in North Myrtle Beach and the Grand Strand in general,” he said.
Five changes Macy’s incoming CEO wants to make in the stores
Jeff Gennette, who is set to take the reins of Macy’s Inc. from longtime chief executive Terry Lundgren in approximately one week, gave some hints of how Macy’s store experience is likely to evolve.
The department store retailer is conducting tests of five changes that could be rolled out across the chain, CNBC reported.
The changes include clearance racks in a dedicated section called Last Act, fewer coupons, less reliance on sales associates, a bigger emphasis on beauty and more branded in-store shops.
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Bakery-café chain looks to double its store count
La Madeleine, the country French-inspired bakery-café, is turning to a new growth strategy that includes selling its corporate owned stores to fast track its expansion.
The company, which has more than 80 locations across the country, plans to double its size through a refranchising initiative. In a presentation at the Franchise Times Finance & Growth Conference, Madeleine president John Cahill said the brand will sell entire existing markets of successful la Madeleine restaurants, and is seeking potential buyers such as successful multi-unit operators of other brands as well as existing la Madeleine franchisees who can use the acquisition of the restaurants as a solid base for growth.
"Our new growth strategy is unique because it offers multi-unit operators the opportunity to hit the ground running with whole markets and top-performing stores," said Cahill. "With the staff already in place and positive cash flow from the restaurants, franchisees can start growing the brand right away."
La Madeleine's parent company, Le Duff America Inc., is the Dallas-based subsidiary of Groupe Le Duff, the world leader in the bakery-cafe segment with nearly 1,700 locations across five continents and 80 countries. Its new CEO, Olivier Poirot, announced upon his arrival that his chief focus would be on growing through franchising – following the Groupe Le Duff business model for success.
"With a brand that is as strong as la Madeleine, we have a tremendous opportunity to double its size within the next five years through refranchising," said Poirot.
La Madeleine will continue to operate corporate-owned restaurants in Dallas so it can demonstrate operational excellence to support franchisees. Corporate markets currently offered for refranchising are Houston, Atlanta, Austin, the Washington, D.C. area, and Louisiana.
La Madeleine currently has more than 80 corporate and franchised cafés across Arizona, Georgia, Louisiana, Maryland, Oklahoma, Texas, Virginia, Washington, D.C., and North Carolina.