Nordstrom Rack plans new store in Boston
Seattle — Nordstrom Inc. will open its outlet format Nordstrom Rack at The Newbury in Boston’s Back Bay area.
The two-level, 38,000-sq.-ft. store is scheduled to open in spring 2013. It will replace the former Filene’s Basement space.
Currently, Nordstrom opens four full-line stores and four Nordstrom Racks in the Boston market.
Rue 21 posts better-than-expected profit, but sales disappoint
Warrendale, Pa. — Rue 21 earned a better-than-expected $9.1 million for the quarter ended July 28, up from $7.7 million in the same quarter last year.
Revenue rose 17% to $202.1 million, from $172.8 million. Same-store sales rose 0.5%, well below analyst expectations.
Study: Expansion plans hit four-year high; Subway, Five Guys, Dollar General to open most stores in next 24 months
New York — The store opening plans of retailers hit a four-year high in July, according to the August edition of the National Retailer Demand Monthly report from RBC Capital Markets and Retail Lease Trac.
Retailers in the RBC database currently plan to open 78,325 stores over the next 24 months, which represents an 11% increase over openings projected at the end of 2011, and a 0.6% increase over June’s level.
Subway, Five Guys Famous Burgers and Fries and Dollar General head the list of the retailers that plan to open the most stores over the next 24 months, according to the report, followed by Family Dollar and Pizza Hut.
The retailers that plan to grow the most over the next 24-months as a percentage of their existing store base are an eclectic group and include Children’s Orchard, Cash Store, Menchie’s Frozen Yogurt, 4G Wireless, Smashburger, Gold Max of California and Charming Charlie.