Retailers in expansion mode include mix of old and new players
New York — Retailers making headlines with store expansion plans include new players as well as global powerhouses. Just in the starting gate is Fresh Thyme Farmers Market, a new specialty grocery format featuring value-priced healthy and organic offerings. The company plans to open over 60 stores throughout the Midwest during the next five years.
Fresh Thyme Markets will open its first store this spring, in Mt. Prospect, Ill., followed by eight more openings, spread out between Illinois, Indiana, and Ohio, by year-end. The company, headed up by Chris Sherrell, the former CEO of Sunflower Farmers Market, will enter Michigan, Missouri, Wisconsin, and Minnesota in 2015.
In other news, Walmart generated big buzz with the news that it is doubling the projected growth of its small-store format which operate under the Walmart Neighborhood Market and Walmart Express banners. The chain has increased its growth target to 270 to 300 units.
Canadian fast-casual chain Tim Hortons unveiled a strategic four-year growth plan for 2014-2018 called “Winning in the New Era.” The plan includes the opening of 300 new U.S. locations by 2018.
And Gap Inc. continues to expand its Athleta brand, with plans to add 30 additional stores this year.
Other retailers making news on the expansion front include:
• Sprouts Farmers Markets Inc. expects to open 22 to 24 new stores in its current fiscal year.
• Ashley Furniture HomeStore, the largest furniture retailer in the U.S., recently celebrated the opening of its 500th store in Longview, Texas. The company, whose sales exceeded $3 billion in 2013, has 50 additional HomeStore openings on tap in 2014.
• Tim Hortons announced plans to open 300 new U.S. locations by 2018. The Canadian fast-casual restaurant chain also plans to expand globally.
• Stein Mart plans to open 10 stores this year, the company’s largest store expansion since 2007.
• Lumber Liquidators expects to open a total of 30 to 40 locations and remodel of a total of 25 to 35 existing stores, all in the “store of the future” format.
• Hobby Lobby announced it will open 70 U.S. stores in 2014, for a total of 625 locations nationwide. As part of its expansion, the arts and crafts retailer will enter the states of Vermont and Oregon.
• Conn’s expects to open 15 to 20 stores in its current fiscal year.
• Uniqlo is expanding into Southern California. The Japanese apparel giant will open its first stores in the region this fall, at the Beverly Center in Los Angeles and South Coast Plaza in Costa Mesa.
Uniqlo announced it will open an additional location in Northern California, at the Sunvalley Shopping Center in Concord, and a store at Stamford Town Center, Stamford, Conn.
PlayNetwork opens Hong Kong office
Redmond, Wash. — PlayNetwork, a leading innovator in branded entertainment media experiences, is expanding its global reach with the announcement of its new Hong Kong office.
The Hong Kong office joins PlayNetwork locations around the globe, with teams in London, England; Columbus, Ohio; Sherman Oaks, Calif.; New York City; and the company’s corporate headquarters in Redmond, Wash.
"Across the globe, PlayNetwork is helping brands use entertainment media to make deeper connections with their customers," said Lon Troxel, executive chairman and CEO of PlayNetwork. "Our Hong Kong office will help us continue to expand internationally by serving both businesses located in Asia and companies seeking to deliver a consistent brand experience globally."
Report: Wal-Mart de Mexico to focus on remodels
Mexico City – Wal-Mart de Mexico reportedly plans to increase business investment 7% during fiscal 2014 as it shifts focus from opening new stores to remodeling existing stores. According to Reuters, Wal-Mart de Mexico will spend about $1.1 billion in fiscal 2014, while increasing total floor space by about 5%.
In fiscal 2013, Wal-Mart de Mexico increased floor space by about 7%, opening 235 new stores in Mexico and Central America. CEO Scott Rank reportedly told analysts the retailer will also focus on improving performance at existing stores and in its grocery delivery service.
Wal-Mart de Mexico also reportedly plans to pay an extraordinary dividend of roughly $500 million after the planned sale of its restaurant division goes through. The U.S. Department of Justice is currently investigating the company for allegedly bribing Mexican officials to help get permission to open new stores.