Readers Speak Out: To what retailers will Borders’ prime real estate go?
In the Feb. 24 edition of SiteTalk, we asked you about Borders’ just-announced Chapter 11 bankruptcy and closures, and to what retailers you thought some of that prime real estate would go. Here is what two of our readers had to say:
"[I think they will go to] regional furniture chains (Value City) and regional electronics such as Hhgregg."
— Joe Deckop
"I think some of the stores will go to fashion-oriented stores, likely for the teens and up. [That’s] just a guess but … Or to food establishments. [Those] seem to be the only things moving."
Hudson’s Bay in franchise deal with Topshop
Toronto — The Hudson’s Bay Co. announced it has earned exclusive Canadian franchise rights for the United Kingdom’s Topshop and its male counterpart, Topman. The agreement includes the rights for both freestanding locations and in-store shops, expected to launch in The Bay in fall 2011.
"We couldn’t be more excited about adding Topshop and Topman to The Bay’s growing roster of fashion-forward finds," said Bonnie Brooks, president and CEO, The Bay. "Those in the know have been anxiously waiting for Topshop and Topman to come to Canada on a large scale, and The Bay is thrilled to deliver.”
Hudson’s Bay Co. operates 92 Bay department stores and 69 Home Outfitters, as well as discount stores under the Zellers brand. It is owned by U.S.-based private equity group NRDC Equity Partners, which also owns the Lord & Taylor chain.
The Topship agreement reflects the appeal of the Canadian market for foreign retailers. Earlier this year, Target Corp. announced it was buying 100 to 150 stores from Hudson Bay’s discount Zellers division. And most recently, David’s Bridal entered Canada, with two locations.
Report: Wal-Mart set to start building first Express stores next week
New York — Walmart will next week start building its first smaller-format Express stores, according to building permits obtained by Bloomberg News.
The chain will begin construction March 16 on a 14,400-sq.-ft. store in Gentry, Ark., which is about 20 miles from the company’s Bentonville headquarters, according to the permits.
Work on similar stores in nearby Prairie Grove and Gravettealsowill start over the next two weeks, the report said.