REAL ESTATE

Stein Mart to open 10 new stores

BY Marianne Wilson

Jacksonville, Fla. — Stein Mart plans to open 10 new stores this year as part of the company’s largest store expansion since 2007.

The expansions begin with new locations in the Miami, Washington, D.C., and Las Vegas areas set to open this spring. This year’s new store openings will bring the company’s total nationwide store count to more than 270.

The announcement of this expansion follows the company’s fiscal 2013 same-store sales growth of 3.7%.

“We understand that increasing our number of stores is an important part of our sales growth strategy, so this is significant news for us,” said Jay Stein, CEO of Stein Mart. “We are fortunate to have a talented management team that identifies key locations in targeted growth areas, so we are always prepared to act when a prime location becomes available."

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REAL ESTATE

Starbucks continues Evolution Fresh expansion

BY Dan Berthiaume

Seattle – Starbucks is expanding its Evolution Fresh cold-pressed juice to more than 360 corporate stores in the Chicago and greater Midwest areas. This brings the total number of Starbucks locations and grocery stores offering Evolution Fresh products to more than 9,000 across the U.S.

In addition to Chicago, other areas receiving Midwest distribution include most of Illinois, Milwaukee, Minneapolis, St. Louis, Detroit, Indianapolis, Cincinnati, and Cleveland. Following the expansion of Evolution Fresh juices in Chicago and greater Midwest Starbucks stores, the brand plans to continue nationwide distribution of Evolution Fresh through U.S. company-operated Starbucks stores throughout 2014.

“We’ve been looking forward to introducing Evolution Fresh juices in Chicago area Starbucks stores and anticipate enthusiastic customer support,” said Chris Bruzzo, senior VP and general manager for Evolution Fresh. “With the opening of our new state-of-the art juicery this past October, we have been able to quadruple the production of Evolution Fresh cold-pressed juices, allowing for greater distribution and accessibility to on-the-go nutrition for our customers.”

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REAL ESTATE

Tim Hortons to open 300 U.S. stores by 2018

BY Dan Berthiaume

Oakville, Canada – Tim Hortons is unveiling a strategic four-year growth plan for 2014-2018 called “Winning in the New Era.” The plan, which has specific segments for the Canada, U.S., and international markets, includes the opening of 300 new U.S. locations by 2018.

In addition to store expansion, the chain’s plan for the United States includes driving average unit volumes in existing restaurants and pursuing traditional franchising development. The company has signed its first development agreements consistent with this strategy, with close to 100 (mix of standard and non-standard) units over the next five years in: St. Louis, (40); Youngstown, Ohio, 25 (all non-standard to complement existing development); Fort Wayne, Ind. (15) and Fargo and Minot, N.D. (15).

In Canada, Tim Hortons said it will use technology to aggregate customer insights and connect and transact with them in new and innovative ways, deliver differentiated innovation in products and services using customer insights to anticipate and act upon evolving needs and expectations, narrow the gap between average check and the sector average, and open approximately 500 new net locations by 2018.

Internationally, Tim Hortons plans to expand up to 225 new locations in the Gulf Cooperation Council, refine existing market research, business assessments and views on market opportunities, and prioritize markets and develop due diligence to position itself to enter new international markets in 2015.

"We are setting out to be bold, different and daring,” said Marc Caira, president and CEO of Tim Hortons. “We envision a Tim Hortons that is one of the industry’s most consumer-centric brands, leveraging technology to build our understanding of emerging consumer insights and to connect with them in new and innovative ways. We are focusing on flawless execution and creating the ultimate guest experience. We are asserting our coffee and food leadership, simplifying our operations and pursuing differentiated innovation. Our team is aligned, focused and committed to strong execution and market leadership.”

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P.Siegel says:
Feb-26-2014 02:01 pm

This is good news! In my regular travels into and across Canada, Tim Horton's was always the place to stop for reliable, tasty and reasonably priced meals. Paul Siegel Cleveland,Ohio

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