Pet supplies retailer continues store expansion
PetSmart was busy opening stores during its first quarter.
The retailer opened 18 new stores in the U.S. and Canada in its fiscal quarter ending May 1, 2017. PetSmart opened 70 net new stores in 2016 and expects to open more than this number in fiscal year 2017.
“We continue to execute our real estate strategy to engage new customers and improve our competitive position,” said Brian Amkraut, executive VP of real estate, strategy, store operations and services for PetSmart, which operate more than 1,500 pet stores in the United States, Canada and Puerto Rico, as well as more than 200 in-store PetSmart PetsHotel dog and cat boarding facilities. “Expanding our retail footprint is a key component of PetSmart’s omnichannel strategy focused on convenience, including same-day and scheduled at-home delivery, as well as the popular buy online pick up in store option.”
New PetSmart stores were opened in the first quarter in the following locations:
• Auburn, Calif.
• Bourne, Mass.
• Burien, Wash.
• College Station, Texas
• Duluth, Minn.
• East Aurora, N.Y.
• Foley, Ala.
• Hadley, Mass.
• Hinesville, Ga.
• Huntington Beach, Calif.
• Lakeville, Minn.
• Maple, Ontario
• Mississauga, Ontario
• North Augusta, S.C.
• Reynoldsburg, Ohio
• Roseville, Calif.
• Spring, Texas
• Tulsa, Okla.
Sears lowers the ax again
Sears Holdings continues to shrink its traditional store portfolio even as it plans to open more smaller, specialty stores.
The embattled retailer on Friday announced that it will close 43 more locations — eight Sears stores and 35 Kmart locations — by early October. This is on top of the 265 store closings that it has already announced for this year.
"This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for our current needs," Sears chairman and CEO Eddie Lampert stated in a blog post on the company's website.
In the post, Lampert cited the chain's recent opening of a small-format, 20,000-sq.-ft. mattress and appliance store as a sign of its future brick-and-mortar direction.
"The smaller store concept allows us to focus on some of our stronger categories, complemented with our Shop Your Way membership program, home services and credit offerings," he said. "We expect to introduce additional smaller, specialized concept stores in the upcoming quarters while simultaneously reducing the number and/or the size of larger-format, less competitive stores. Having the right formats and right sized stores will help us put Sears Holdings in a better position to meet the realities of the changing retail world.'
The new round of closings (for a list, click here) will bring Sears' store count to less than 1,140, down from 2,073 five years ago.
Retail Springs anew in The Lone Star State
In 2000, the population of Conroe, Texas, north of Houston, was under 40,000. Today, the city named the fastest-growing in America (per U.S. Census Bureau) counts more than 80,000 citizens and newcomers are spilling over into neighboring communities.
One such is Spring, where the Houston Chronicle reports an upswing in new retail developments to keep up with the population.
This fall Regency Centers will open The Market at Springwoods Village in the town, a 167,231-sq.-ft. open-air center that will house Kroger, Mod Super Fast Pizza, Zoe’s Kitchen, Jinya Ramen Bar, and Natural Pawz. Springwoods Village is a master-planned community.
Also opening in town this fall will be The Shops at Spring Village, which so far has AT&T and Dunkin' Donuts lined up as tenants. It is being developed by Capital Retail Properties, which owns more than 50 commercial properties in the Houston area.