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Macys
Company newsNew YorkNews

Macy’s to Close 150 Namesake Stores, Open More Bluemercury and Bloomingdale’s Stores

by Hayden Spiess

New York City — Macy’s Inc. (NYSE: M) has announced plans to close 150 of its namesake department stores over the next three years. According to the retail giant, these stores represent 25 percent of the company’s gross square footage as of fiscal year-end 2023 but only account for 10 percent of sales. (Macy’s fiscal 2023 ended Feb. 3, 2024.) Macy’s anticipates closing approximately 50 stores by the end of fiscal year 2024, the locations of which have not been disclosed, though CNBC reports some are located in California, Florida, Hawaii and Virginia. …

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Smalls-Sliders
Company newsDevelopmentGeorgiaNewsRestaurants

Smalls Sliders Expands to 200 Restaurants

by Hayden Spiess

Atlanta — Atlanta-based cheeseburger concept Smalls Sliders has expanded, with 200 total restaurants now open or under development. The brand currently has stores, referred to as “Cans,” operating across Louisiana and Mississippi, with openings scheduled in 13 states throughout the Southeast and Midwest. “We look forward to continuing this path of growth, and hopefully announcing our next milestone of 300 Cans under development very soon,” says Maria Rivera, CEO of Smalls Sliders. 

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Kroger_Banks-Crossing_Fayetteville
Company newsNewsWashington DC

FTC Sues to Block $24.6 Billion Kroger-Albertsons Merger, Citing Anticompetitive Worries

by Hayden Spiess

Washington, D.C. — The Federal Trade Commission (FTC), a U.S. government entity that enforces consumer protection laws, has sued to block Kroger Co.’s (NYSE: KR) proposed $24.6 billion acquisition of Alberstons Cos. (NYSE: ACI). Announced in late 2022, the deal would mark the largest supermarket merger in U.S. history. Kroger’s current portfolio includes thousands of stores across 36 states, including stores that operate under the regional banners Fred Meyer, Fry’s, Harris Teeter, King Soopers and Quality Food Centers (QFC), in addition to its Kroger flagship. Albertsons likewise operates thousands of …

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Sip-Fresh
Company newsDevelopmentFloridaNewsRestaurants

Sip Fresh Signs Three-Unit Franchise Deal in Florida

by Hayden Spiess

Orlando, Sarasota and Tampa, Fla. — Beverage concept Sip Fresh has signed a franchise deal for the development of three new stores in Florida. Franchisee Ryan McGrail will own and operate the stores, which will be located in Orlando, Sarasota and Tampa. Sip Fresh also recently signed multi-unit deals throughout California. 

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Slim-Chickens
ArkansasCompany newsDevelopmentMarylandNewsRestaurants

Slim Chickens Signs Franchise Deal for Seven Restaurants in Maryland

by Hayden Spiess

Fayetteville, Ark. — Arkansas-based Slim Chickens has signed a franchise deal for seven new restaurants in the state of Maryland. Franchisee DDR Holdings, a venture between Darrin and Dennis Atlas, will open the units. DDR Holdings currently owns and operates two Slim Chickens stores in the state. The Slim Chickens brand has opened in more than 255 locations across the U.S. and the U.K., with more than 1,200 stores currently in development. 

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Company newsGeorgiaNews

Matthews Real Estate Investment Services Adds Veteran Retail Specialists to the Firm

by Hayden Spiess

Atlanta — Matthews Real Estate Investment Services has hired Pierce Mayson and Kyle Stonis as senior vice presidents, Jeff Enck as first vice president and Boris Shilkrot as associate vice president. The veteran retail specialists join the company’s shopping center division from SRS Real Estate Partners, where they managed the sales of shopping centers in 17 different states across the Southeast, Midwest and Northeast. Collectively, Mayson, Stonis, Enck and Shilkrot have brokered the sales of $4 billion in career transactions over a combined 50 years. The group will operate from the …

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Chase-Flagship-Branch-Madison-Avenue
Company newsNew YorkNews

JPMorgan to Open 500 New Chase Bank Branches, Renovate 1,700 Over Next Three Years

by Hayden Spiess

New York City — JPMorgan Chase & Co. (NYSE: JPM) announced plans today to expand its brick-and-mortar footprint by adding 500 Chase bank branches over the next three years. The New York City-based institution also plans to renovate 1,700 existing bank locations across the United States. New branches will expand JPMorgan Chase’s footprint in existing markets like Boston; Washington, D.C.; Charlotte, North Carolina; Philadelphia; and Minneapolis. The company will also enter several new markets, including low- to moderate-income rural communities that previously had little access to traditional banking service. The multi-billion-dollar …

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Walmart
ArkansasCompany newsDevelopmentNews

Walmart Plans to Add 150 New Stores, Remodel 650 Existing Locations

by Hayden Spiess

Bentonville, Ark. — Walmart (NYSE: WMT) has announced plans to expand by more than 150 new stores over the next five years, both through new construction and converting existing buildings.  The first two stores under this initiative — both under the company’s smaller-format Walmart Neighborhood Market banner — are scheduled to open this spring in Santa Rosa, Florida, and Atlanta. The company is currently finalizing plans for 12 new projects, one of which will be the conversion of a smaller existing location into a large-format Walmart Supercenter, which serves as both …

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Macys-Herald-Square_New-York-City
Company newsFinanceNew YorkNews

Macy’s Rejects $5.8 Billion Buyout Offer from Arkhouse, Brigade

by Hayden Spiess

New York City — Retailer Macy’s has rejected a $5.8 billion buyout offer from Arkhouse Management Co. and Brigade Capital Management. In December 2023, the investor group submitted a bid to acquire the outstanding shares of the company not already owned by Arkhouse and Brigade for $21 per share in cash. The Macy’s board of directors has since determined “not to enter into a non-disclosure agreement or provide any due diligence information to Arkhouse and Brigade,” according to a press release from the company. A letter to the would-be buyers cited …

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CaliforniaCompany newsDevelopmentGeorgiaMarylandNewsPennsylvaniaTexas

IKEA to Open Four New-Format Stores in 2024

by Hayden Spiess

Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …

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